Schemes
In this arrangement the subscriber is hereby entering into an understanding to purchase jewellery from M/s Alukkas Enterprises (P) Ltd. for a fixed amount on or before 365 days from the date on which he entered into the understanding. The systematic purchase advance instalment amount is fixed on entering into the understanding and must be paid in 12 instalments. The monthly purchase advance can be Rs.1000/-, Rs.2000/-, and Rs.5000/- as per the choice of the customers. A customer can join purchase advance arrangement by paying the first instalment.
Installments
By subscribing to the arrangement, he only enters into an understanding for purchase of jewellery and for payment of instalment for the agreed term for the purchase of jewellery. The subscriber shall pay the instalment on or before 10th of every month. The subscriber can join multiple purchase advance arrangements.
Enrollments
In this arrangement, a minor cannot be a subscriber. On entering into the understanding, subscribers ID is to be furnished and jewellery is to be purchased in the name of the subscriber only and subscription amount is not transferable. However the subscriber can appoint a nominee, who should be a major, and should furnish his ID and PAN in appropriate cases. The term of the arrangement is to be fixed on entering into the understanding and the maximum term is 335 days (period of the arrangement). In this arrangement payment of the instalment amount cannot be postponed. It cannot be adjusted towards a different arrangement of the supplier and also the purchase advance paid cannot be claimed in cash under any circumstances.
Payments
The arrangement will be matured on payment of the last instalment of the purchase advance amount fixed, or on completion of 335 days from the date of joining this arrangements, which ever is later the instalments being paid without any default. No partial withdrawal from the installment amounts remitted is allowed. Under this arrangement gold coin/bar cannot be purchased in any circumstances. 2.The subscriber is entitled to redeem the accumulated purchase advance amount and to adjust it towards his purchase value of jewellery on expiry of 335 days from the date of entering into the understanding, at the gold rate including VA prevailing on the date of purchase. Gold rate applied on purchases of jewellery shall be the rate announced by the Jewellery Merchant's Association and applicable at the time of actual purchase of jewellery by the subscriber.
Benefits
On maturity of the arrangement, the subscriber has to purchase gold jewellery from Jos Alukkas Online Store / any Jos Alukkas Outlet in India for the entire purchase advance amount remitted by him within a period of 365 days from the date of joining in the arrangement. If the subscriber did not turn up on before 365 days as stated above for purchase of jewellery, such amount will be deposited in the bank account of the subscriber for which he should provide his correct bank account details in the application submitted at the time of entering into the arrangement.The subscriber, after remitting the entire instalment amount of the purchase advance on time, will be eligible for special discount like One Instalment Amount. If the subscriber pay 11 instalments or 10 instalments within the maturity period, their discount eligibility will be restricted to 80 % and 50% of the maximum special discount, respectively.