Prince Jewellery presents a jewellery purchase crafted especially to suit your plan to buy jewellery for life' memorable occasion. Now that dream jewellery which you always wanted can be yours with Prince Save-N-Gold Flexi Plan.
What more, you can opt for either value based or the gold weight based option.
The customer is entitled to buy the jewellery on the 12th month from the date of enrollment, the company may opt to refund the total advance amount paid without any benefit and the same will be couriered to the address registered with us by cheque or through bank transfer
Select an amount of your choice as monthly advance payment.
You may choose from as low as Rs. 500 onwards.
Pay equal monthly instalments for 11 months and after the advance payment of the last month buy jewellery of your choice. (except special jewellery like diamond, platinum, uncut diamonds, ruby & emerald, Ancient Secret Collection (Indian antique jewellery), silver articles, silver jewellery without wastage, value addiction (VA) charges.)
The pass book given at the time of your joining will help you keep track of your advance payments.
How do I pay monthly advance payment?
Advance payments should reach Prince Jewellery before the 10th of every month. Payments can be made by cash/DD/ local cheques / post dated cheques/ at-par cheques, Digital Payment gateways (Paytm, UPI, NEFT, ECMS, Fund Transfer) or through the website www.princejewellery.com Outstation cheque will not be accepted. You can give PDCs for the entire period for your convenience.
What if I discontinue?
Members who chose to discontinue within 7 months of enrolment will not be eligible for 'No Wastage (VA) on purchase. However if the discontinues during the 8th, 9th & 10th month of enrolment, they will be entitled to discount equal to 60% of wastage (VA) value on the accumulated advance or on the accumulated gold weight as per the option chosen by the member.
What if I don't pay continuously?
The advance payment cannot be extended beyond the 11 months period. The plan will be discontinued as per the terms mentioned above in the event of any default in the monthly advance payments. Hence it is essential that you pay the advance payments continuously without fail. In the event of the member not making any one advance payment during the tenure, the plan will be discontinued automatically from that month and the member will not be entitled for 'No Wastage (VA) as per the terms mentioned above.
What if the member does not purchase jewellery at the end of the 12th month?
If the member does not purchase jewellery at the end of the 12 month from the date of enrolment the total advance amount paid by the member during the scheme will be refunded without any benefit directly by the company through a cheque or through bank transfer. The same will be delivered to the address provided in the membership form at the time of joining.
Will there be GST?
Yes, GST (currently at 3%) and any other government levies will be borne by the member at the time of delivery.
What if I buy jewellery exceeding my advance payment?
Wastage will be charged on the excess amount. For e.g if you choose `5000 as your monthly advance payment, the advance amount accumulated over the 11 month period will be `55,000/- If the selected jewellery items value is `1,12,000/- the member is eligible for No Wastage (VA) on `55,000/- only and wastage (VA) as applicable will be payable on the balance amount of `57,000/-
Will wastage be charged on special items?
Yes. Wastage will be charged on special jewellery like diamond, platinum, uncut diamonds, ruby & emerald, Ancient Secret Collection (Indian antique jewellery), silver articles, silver jewellery and other special items not included in the list. Precious stones / semi-precious stones, zircon, birth stones, and other stone charges will be applicable. If a member wishes to purchase any of the above.
Will cash be refunded?
Cash will not be refunded under any circumstances as per government regulations.
How do I know the weight of gold accumulated?
This will be updated in the pass book on a monthly basis at the time of making the advance payment and also logon to www.princejewellery.com.
Can the member pay the monthly payments in advance?
The monthly payment cannot be carried over or paid in advance.
Can the member pay the advance monthly payments in the Prince Jewellery showrooms?
Yes, the customer has the dual option of paying their instalments at any of the Prince Jewellery showrooms (Keep your passbook handy) or online @ www.princejewellery.com.
Can the member purchase special jewellery like diamond, platinum, uncut diamonds, ruby & emerald, Ancient Secret Collection (Indian antique jewellery), silver articles, silver jewellery?
Yes, the member can buy special jewellery with wastage (VA) and making charges as applicable.
Can the member buy gold coins?
Yes, the member can purchase gold coins without wastage (VA) and making charges.
Is the monthly advance payment fixed or variable?
The monthly advance payment is fixed.
TERMS AND CONDITIONS
1. The monthly advance against purchase of jewellery must be equal and paid continuously for eleven months; with a minimum of Rs. 500/- , the advance payments cannot be extended beyond 11th month and is not transferable under any circumstance.
2. On completion of eleven months from the date of enrolment the customer will be eligible to purchase the chosen jewellery without wastage (VA) up to 24% under Prince Save-n-Gold Flexi Plan. Customers can chose any jewellery including Gold coin except (special jewellery like diamond, platinum, uncut diamonds, ruby & emerald, Ancient Secret Collection (Indian antique jewellery) silver articles, silver jewellery) limited to the accumulated value or the accumulated Gold weight.
3. This advance against purchase of jewellery is unique and will not be linked to any other existing schemes / offers.
4. The monthly advance against purchase of jewellery must be paid within the 10th of every month and monthly advance against purchase of jewellery can neither be paid in advance nor carried over, the advance amounts paid will not be eligible for any interest.
5. Customers will have to bring the advance receipt book every month while paying the advance amount, and should be surrendered at the time of purchase of jewellery.
6. In case of change in address, loss of advance receipt book, the customer should inform the company immediately and apply for new advance receipt book with KYC details.
7. The customer may appoint a nominee on submission of KYC details for both self and the nominee. Minors will not be eligible to enrol.
8. Payments of Monthly advance for purchase of jewellery beyond the stipulated period or payment of even more than one monthly amount beyond 11 months will not be allowed.
9. The advance against purchase of jewellery can be paid and jewellery can be purchased at any one Prince Jewellery showrooms (except Thiruvananthapuram Showroom).
10. Advance against purchase of jewellery can be made in cash, Credit / debit cards, NEFT, UPI, local cheques favouring the company, bank charges will be borne by the customers in case of cheque dishonour. The payment can be made at any Prince Jewellery showroom in India or online at www.princejewellery.com. Your receipt for having paid the advance money will be advised to you by SMS or Email.
11. After purchase of jewellery on maturity, if any balance is left out cannot be refunded by cash and it can only be adjusted on purchase of Gold / Silver coin.
12. Customers who choose to cancel within 7 months of enrolment will not be eligible for any benefits. However if the customer cancels during 8th, 9th & 10th month of enrolment, the customer will be entitled to 60% of the wastage value on the jewellery purchased, if the customer decides to purchase during 11th month of enrolment, the customer is entitled for no wastage (VA) up to 24% limited to the accumulated advance amount or accumulated Gold weight.
13. The customers will be eligible for No Wastage (VA) on purchase only after they have paid all the advance payments continuously. The customer will not be able to continue in the event of default in the monthly advance payments. Hence it is required that a customer pays the advance payments continuously without fail.
14. Making Charges will be charged according to the type of jewellery purchased, and Wastage (VA) will be charged for special jewellery as mentioned above.
15. The total advance amount paid will be refunded to the customer without any privilege, if the customer does not purchase jewellery within 15 days from the date of Completion of 11th month.
16. When the customer purchases jewellery in excess of accumulated amount or in excess of accumulated Gold weight, the wastage (VA) as applicable will be borne by the customer for the excess amount / weight.
17. GST (currently @ 3%) & any other Government levies at the time of delivery will be borne by the customer.
18. The customer is expected to purchase jewellery within 15 days from the date of completion of 11th month.
19. The customer's signature will be verified at the time of delivery.
20. Company at its sole discretion can alter, amend, modify, add or delete any of the terms and conditions from time to time.
21. All disputes are subject to the jurisdiction of the competent courts in Chennai.