The monthly instalment must be paid for 15 months.

Monthly instalment will be accepted only at the showroom where the customer has enrolled for the scheme. However, the member is entitled to redeem his/her gold at any of the GRT Jewellers showrooms.

Monthly instalment should be paid on or before the 10th of every month. Monthly instalment is fixed. The instalments cannot be carried over or paid in advance. Advacenemtn of the maturity date is not permitted.

Payments can be made by Cash / DD / Money Order / Electronic Clearing System (ECS) / Post Dated Cheques (PDC) / At Par Cheques / Local Cheques / any ICICI Bank Branch (Cash or at par cheques). Outstation cheques will not be accepted. All relevant bank charges for collection and dishonour of cheques shall be borne by the members. Member’s Name and Membership Group Number should be mentioned clearly in all modes of payment.

For payments through cheques / DDs, the date of receipt will be the date on which the gold rate will be applied. For ECS mode the date committed by the member will be the date on which the gold rate will be applied.

In case of dishonour of cheques, the date of realisation of cheque will be taken for fixing the gold rate. Default in payments will automatically extend the maturity date by the number of months so defaulted.

The member is entitled to redeem the equivalent total weight of gold that is credited to his / her account on completion of 30 days from the last instalment paid and should be redeemed in full.

The gold rate as announced by the Jewellers & Diamond Merchants Association for selling of 22 Ct. Gold, will be the rate applied for calculating the equivalent weight of gold.

Member is entitled to apply the rate of gold prevailing on the date of his / her purchase / redemption.

Cash will not be refunded under any circumstances.

The cost of wastage (VA), stone charges & making charges for Ethnic, Ruby, Emerald, Diamond, Platinum, Silver Articles will be borne by the member as applicable at the time of purchase / redemption.

After completion of this scheme the accumulated weight is converted into amount (Accumulated Weight x 22 Ct. Gold rate on the date of purchase) for that amount, 24 Ct. Gold Coin can be purchased without paying wastage (VA).

If plain gold jewellery bought exceeds gold weight accumulated in this scheme, the difference amount and the wastage (VA) on the excess weight has to be paid by the customer.

If plain gold jewellery bought has higher than 18% wastage (VA), the difference in wastage (VA) between the actual and 18% on the gold weight accumulated under this scheme together with VAT plus the actual jewellery wastage on the excess weight together with VAT will be paid by the customer. If jewellery bought has lesser than 18% wastage (VA) the member is not entitled for difference in wastage value.

The accumulated gold weight will be converted into equivalent rupees taking into account the gold rate prevailing at the time of redemption.

This scheme is unique and will not be linked to any other offers, existing or future schemes.

It is at the sole discretion of the company to alter, amend, modify, add or delete any of the terms and conditions from time to time.

All disputes are subject to the jurisdiction of the competent courts in Chennai.