Gold Savings Plan

Gold Savings Plan

Terms & Conditions:

Membership :

  • Enrollment through flling up a simple joining form.
  • One person can have a multiple memberships.
  • This is not Transferable

Plan Details :

  • Pay in 11 installments.
  • 1st month installment completely CMR Bonus.
  • Option of installment starting from Rs.1,000/- to Rs. 4,000/-.
  • Installments for all 11 months will have to be paid.
  • Tenure of payment cannot be extended.
  • On completion of 11 installments, the customer can purchase BIS 916 Hallmark
  • Gold/Diamond Jewellery.
  • Your Monthly installment can be converted into equivalent grams of Gold based on prevailing 22kt Gold price (or) Credited in rupees, as per member choice.

Payment of Installments :

  • Monthly installment to be paid between 1st to 20th of every month.
  • Installments can be paid in the form of Cash / Cheque / Net banking / Online
  • l Cheques are to be issued in favour of “Chandana Brothers Shopping Mall
    Pvt. Ltd.” Visakhapatnam..

Membership Rules :

  • Non payment of installments on due date will lead to a member to forfeit their
  • l Forfeitment of membership will deprive the member of promised benefits.
  • If a member wishes to withdraw from the plan, he/she will have to pay for the
    wastage charges.
  • In the case of withdrawal from the plan, the paid installments would not be
    returned in the form of cash.
  • This is a Jewellery purchase plan. No cash refund is possible under any circumstances.
  • In case of premature closure, the first month Bonus/Installment will not be treated
    as a Free.

Rules of Purchase :

  • Member is entitled to purchase on completion of all 11 installments.
  • On completion of plan member can purchase BIS 916 Hallmark Gold ornaments
    under this scheme up to 12% V.A/Wastage for accumulated gold weight as a benefit.
  • Above 12% V.A. Gold ornaments purchased by the member, the difference
    V.A/Wastage has to be borne by the member.
  • GST charges on purchase shall be borne by the member.
  • On purchase of jewellery with precious stones, Diamond & CZ etc. stones, the
    member shall pay for the price of stones and making charges.
  • Member shall produce his/her ID proof at the time of purchase.
  • Member cannot combindely avail the benefits of any two different offers.

Passbook Details :

  • CMR issues a passbook to the member.
  • Address, Phone number and availed benefts can be found in the passbook.
  • Gold weight accumulated will be updated in passbook.
  • Monthly installments even be converted in to prevailing 22k gold price.
  • Money deposited as installment shall be added to the passbook in the form of
    equivalent gold weight.
  • In the event of loss of passbook or change in the address of the member should
    inform the CMR management immediately.

General :

  • All disputes will be subject to competent under Visakhapatnam city jurisdiction.
  • Management reserves the right to modify rules governing the plan or withdraw it
    at anytime without any prior notice to the member.

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