Terms and Conditions

1. There are 2 types of Gold advance Plan available

1. ) SWARNA SHAKTHI
2. ) SWARNA BANDAN

These Plans are offered by Katta Narayanaiah Badarinath jewellers.("KNB")to facilitate customers purchasing jewelry by making periodic payments over an 11-month period and getting entitled to certain discounts subject to these Terms and Conditions.

2. The sole purpose of these plans is to facilitate the accumulation of money or gold over a period of time to make a purchase only in our showroom.

3. Anybody who is an Indian citizen and not a minor can join any of the plans by visiting our showroom or by enrolling online through the KNB JEWELLERS mobile App.

1. ) 4. SWARNA SHAKTHI is cash plans, and the installment amount paid is not converted to its gold equivalent weight. The amount is added to the scheme balance, which is one month Bonus.SWARNA BANDAN is the amount which accumulated in scheme .No wastage up to 10% and No Making charges . Gst amount and any stone, beeds will be extra charges borne by the customers.

1. ) 5. The purity of the gold is 916 ornament only in SWARNA BANDAN have a option to buy gold coins or 24k busciut.Advance plan not applicable to buy silver jewellery

6. In the Gold plans, the customer has to pay 11 monthly installments of Rs. 1,000 or multiplies of 1000 . The customer has to pay on or before the due date of every month. If the customer wishes to pay the installments in advance, only one installment is accepted in advance.

7. The date of payment of the first installment shall be deemed the enrollment date (date of joining the scheme).

8. In Gold plans, the monthly installment amount is fixed. The amount paid as the first installment while joining the scheme will be the installment amount that has to be paid every month. The calendar date on the day of enrollment will be the due date for payment of installments in the subsequent months.

9. These plans mature after 335 days from the date of enrollment, and the customer will be eligible to redeem his or her scheme account (close the scheme) and use the maturity. Proceeds against the purchase of jewelry.

10. At the time of redemption, after the completion of the scheme period, the customer will be eligible for a discount of an amount equal to one months installment for the plan SWARNA SHAKTHI

11. The customer is mandatorily required to redeem his or her account before the completion of 365 days from the enrollment date. Failure to do so will entitle us to close the account unilaterally without customer consent and mark the maturity proceeds as a balance payable to the customer and treat that amount as order advance.

12. After the maturity of the scheme, no benefits accrue, and the customer should purchase the jewelry within 30 days after the maturity date.

13. No scheme benefits are given if the customer closes the scheme within 90 days of joining. If redeemed after the completion of 90 days but before the maturity date, the scheme benefits get reduced.

14. The maturity proceeds should be fully utilized to purchase the jewelry, and no credit note or refund in any manner, either in full or in part, is permitted.

15. To close the scheme and purchase the jewelry, the customer has to visit KNB Jewellers along with the scheme card, if issued.

16. The customer will have to bring the scheme card for paying the installment if he or she wishes to pay it at the showroom. This card should be surrendered at the time of closing the scheme.

17. Any jewelry or article purchased under these plans will be subject to making charges, wastage charges, stone charges, material charges, goods and services tax, hallmarking charges, or any other charges or levies as may be applicable or prevailing at the time of purchase, and these charges are to be borne by the customer.

18. In the event of the loss of the scheme card, the customer has to inform KNB immediately by visiting the showroom to enable us to block the card. In case of any delay or failure to intimate, he or she shall be solely responsible for any loss that might arise due to the redemption of his or her account by some other person.

19. In the event of the loss of the original scheme card, a duplicate scheme card can be issued only if the account holder provides a valid identity and address proof. In addition, installment payment receipts should be produced, or the messages received from KNB confirming the payment of installments should be shown.

20. The scheme or its benefits are not transferable to others.

21. The installments paid for a scheme cannot be transferred to any other scheme.

22. No refund of installments paid or bonus entitled to them, will be done. The customer has to compulsorily buy jewelry or articles.

23. In the exceptional cases where the refund has to be done, only the installments will be paid back, and no bonus amount will be paid.

24. Refunds under the Plan, if any, will be made by online payment to the bank account and the name of the account holder as specified at the time of enrollment will be considered, and no cash refund shall be done.

25. In cash schemes, the money keeps on accumulating as and when the installments are paid without getting converted to weight in gold, and at the time of redemption, the gold rate considered will be the rate as on the redemption date, and the gold rates as on the installment payment dates have no relevance.

26. All the applicable charges and levies will have to be paid as per the rules and policies of KNB that prevail at the time of redemption.

27. KNBs terms and conditions for the sale of jewelry are applicable while purchasing the jewelry after closing the scheme.

28. The customer is required to provide a copy of valid photo identity and address proof when KNB asks for them.

29. At the time of joining, the customer should mention his or her name as per his or her identity proof.

30. In case of any change in the mobile number, address, or any other details that the customer may have furnished at the time of joining, the customer shall immediately contact KNB to update the changes.

31. KNB reserves the right to verify the identity of the customer by asking to show text messages received from us and/or OTP sent by us, or by asking to produce identity proof, or by any other means at any time, including at the time of enrollment, at the time of concluding the purchase, and at the time of taking delivery of the jewelry. KNB also reserves the right to verify the authenticity of the documents provided by the customer.

32. Payment of the monthly installment(s) can be done by UPI, BHIM, debit card, credit cards and cash. Payments by cheques, wallets are not accepted, and making an online payment using an international card is not allowed.

33. KNB shall not be responsible for any online payment failure and money being debited from the customers account on account of this. Customers are requested to check with their banks or service providers for such payment failures. Also, it is the responsibility of the account holder to enter details correctly while making payments.

34. KNB is not liable to remind the customer about the installment payment when it is due.

35. The customer may appoint a nominee at the time of enrollment. In the event of the unfortunate death of the account holder, the account is transferred only to the nominee, subject to such nominee producing identity and address proof. In case the account holder does not nominate any person, any claim(s) made by any other person(s) on behalf of the account holder will not be entertained unless such person is a legal heir or duly authorized person and produces the below- mentioned documents, as may be applicable, to KNB along with all other supporting documents with clarifications.

Death certificate of the deceased

Succession Certificate

* Will (if any)

NOC from other heirs

The decision of the KNB shall be final in judging the adequacy and correctness of the documents in all such cases, and the same shall be binding upon the claimants.

36. KNB is the operator of these plans and reserves the right to suspend them at any time. In any such event, the account holder should close the scheme and purchase the jewelry. The scheme benefits in such a case are calculated according to the period the account is held, as per the terms outlined herein.

37. In case of any changes in existing laws, rules, acts, etc. by any regulatory authority, KNB reserves the right to make modifications or changes to the Plans, or suspend or discontinue the Plans in accordance with the changes of law, and the necessary requirements as per the same have to be complied with by the account holder.

38. Disputes, if any, will be subject to the courts in Madakasira jurisdiction only.

39. By proceeding to enroll, it is deemed that I have agreed to the following:

The details furnished by me are true and correct to the best of my knowledge and belief, and I undertake to inform you of any changes therein immediately. In case any of the information provided is found to be false, untrue, misleading, or misrepresenting, I am aware that I may be held liable for it. I hereby authorize the sharing of the information furnished in this scheme with the KNB.