1. To join this scheme you must be above 18 years of age
2. You can choose the amount you wish to save, starting from 1000 and in multiples of 500 (eg.
1500,2000,2500,3000..etc ) and pay the respective amount to join
3.The chosen amount must be paid in 11 instalments every month and it should be on or before
the specific due dates.
4. Each instalment amount you pay will be converted to gold in grams or milligram equivalent to
the rate of 22 karat gold on the day you pay (eg : if you choose to pay 3000 every month, and
the price of the gold on the particular day you pay is 9300, then the gold you own is 0.320
milligrams of 22k gold )
5. This scheme matures exactly on the 330th day from the date of joining and scheme should be
redeemed within 30 days from the date of maturity
6. As the benefits of the scheme, customers can avail gold ornament equivalent to the gold they
own with 100% discount on wastage and making charge
7. The customers can only avail gold ornaments available in the branch and cannot customise
their jewellery
8. if customers choose to custom their ornaments, they will only get 20% discount on the
wastage and making charge on the ornament at the period of maturity
9. To avail the benefits of the scheme, all 11 monthly instalments must be paid either on the
given due dates or in advance and the product must be purchased during the maturity period
10. Under no circumstances can the instalment amount paid be refunded, it can only be availed
as gold jewellery
11. Customers must accept any stones, hall marking, and any other charges imposed on the
selected product under this scheme
12. The right to receive products is granted only to the person in whose the scheme is registered.
In case of the customer’s demise, the nominee can claim the products upon submission of a
death certificate issued by the Tamil Nadu government
13. For any additional weight of the products purchased beyond the calculated 22k gold weight,
the customers must pay the wastage and GST for the extra weight
14. Product equivalent to the calculated gold weight must be availed within 30 days from the
maturity date of scheme. Failure to do so will result in loosing scheme benefits completely
15. When availing products, customers must pay the Goods and Service Tax (GST) as imposed by
the government
16. If there are any sales offer available at store on the day of redemption, they cannot be utilised
under the scheme
17. No changes can be made to the scheme’s name, mobile number and address under any
circumstances. The OTP sent to the registered mobile number must be provided without fail
when redeeming the scheme
18. Customers can redeem the scheme in our store by submitting the concerned redemption
request form along with an identity card and government issued Aadhar card
19. Instalments can be paid directly at our store or via the STM JEWELLERS app. It is the
customer’s responsibility to confirm the payment by collection of receipt and SMS
20. If customers tends to pay the scheme amount in cash mode, solicit to pay in person at branch
and get receipt, else through the online mode, requesting to avoid remittance through other
persons or employees. In such cases, management will not hold responsibility
