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Jewel Bank

 

Saving in Gold and other jewellery is the safest and the most preferred way to promote the habit of savings in the form of jewellery. CH Jewllers introduces CH Jewel Bank, a Systematic Investment Plan in Jewellery that help you save today, for buying jewellery in the future. Along with promoting the habit of savings, the CH Jewel Bank Scheme is designed in such a way that it adds to the savings through other benefits. Same of the scheme benefits include:

Save a minimum of Rs.2000/- every month for 18 months and one installment amount would be contributed by CH Jewellers at the end of the 19th month, which can be utilized to purchase Gold /Diamond / Platinum/ Silver Jewellery on the maturity of the Scheme.

Get and additional 15% discount on the labour charges of Gold/Diamond/Platinum/Silver Jewellery while purchasing jewellery at the time of the maturity of the scheme.

On introducing a new member to the scheme, you receive a loyalty bonus of Rs.200/- to your account.

What is CH Jewel Bank?
This is a monthly investment scheme under which, at the end of the scheme, a customer can purchase expensive jewellery by saving a small amount of money regularly.

How can I be a part of this scheme?
You can be a part of ‘CH Jewel Bank’ Scheme if you are a citizen of India and are above 18 years of age. You should fill up the details in the form and deposit it at the ‘Jewel Bank Counter’. On depositing the installment amount at the counter, the cashier will give you a receipt and a pass book which you need to produce at the cash counter every month while depositing the amount of installment.

How would I benefit from this scheme?
  1. Under this scheme, you can invest a minimum amount of Rs. 2000/- every month for a period of 18 months. If anyone wishes to begin by investing more than the minimum amount, they can invest further in the multiples of Rs. 500/-
  2. After saving a particular amount regularly for 18 months, the same amount of installment for the 19th month would be contributed by CH Jewellers. For example if a member invests Rs. 2000/- every month for 18 months, then at the end of the 19th month, CH Jewellers contributes Rs. 2000/- means the member receives Rs. 36000/- + Rs. 2000/- = Rs. 38000/-, of which he/she can purchase Gold/Diamond/Platinum/Silver jewellery.
  3. Apart from this, on the maturity of the scheme, the member can get an additional 15% off on the labour charges of Gold/Diamond/Platinum/Silver jewellery.
  4. During the period of the scheme, if you introduce new members, you receive Rs. 200/- on each application; which could be useful while purchasing jewellery at the end of the 19th month.

What jewellery can I purchase under the CH Jewellers Jewel Bank Scheme?
This scheme applies only to readymade Gold / Platinum / Diamond / Silver Jewellery

At the time of maturity of the scheme, can I redeem the cash amount?
No, Cash redemption is not allowed under this scheme.

Can I pay the amount through credit card?
No, credit card payments are not allowed under this scheme

Can I deposit post-dated cheque of 18 months to the showroom manager? The first installment is to be paid by cash only. The remaining 17 months’ installment can be made by depositing post-dated cheque in advance to the showroom manager. Please note that ensuring a timely cheque clearance would be the members’ responsibility. The member would not be reminded about the date of the cheque or any such kind of specific information.

After joining the scheme, when will I have to pay the installment amount every month?
  1. The member has to pay the monthly installment amount by cash/cheque/P.O/D.D by the 10th of every month.
  2. Outstation cheque will not be accepted.

What happens if I forget to pay an installment?
You have to pay the installment amount by the 10th of every month. Failure to do so results in addition to the period of the scheme which would continue to lengthen with each delay.

What if I withdraw from this scheme?
This scheme is designed in such a way that by saving minimal amounts every month till 18 months; you can purchase exquisite Gold/Diamond/Platinum/Silver jewellery worth the amount of your savings at the end of the 19th month. If you wish to withdraw from the scheme or want to discontinue the scheme, you can do so by giving information to the CH Jewel bank manager in writing. You can purchase jewellery from your saved amount at the end of the 19th month or at the time of maturity of the scheme. In case you withdraw from this scheme; you are not entitled to any of the scheme benefits.

What happens if, by any reason, my Cheque/D.D/P.O is not cleared?
We expect that every member verifies the authenticity/feasibility of their cheque/D.D/P.O completely. In case of non-clearance, only the member will be responsible and either Rs.300/- or the current bank charges, whichever is more, would be charged form the member for non-clearance. If the cheque/DD/P.O is rejected by the bank till the 10th day of the month, the scheme period would be extended by one month as stated earlier.

Is there any facility of appointing a nominee/heir under this scheme?
Yes. You need to submit the detailed information of the nominee/heir including photo identity proof along with a written application to the showroom manager. If the nominee/heir is a minor, i.e. below 18 years of age, detailed information of the nominee as well as the guardian has to be submitted with a photo identity proof

During the period of the scheme, if the member, due to unavoidable situation is not able to continue with the scheme: can the nominee/heir continue with the scheme? If yes, hoe?
If the member, due to unavoidable situation cannot continue with the scheme, the nominee/heir can avail all the benefits of the scheme on the maturity of the scheme if the nominee/ heir does not want to continue with the scheme, then he/she can purchase gold jewellery of the saves amount at the end of the 19th month but without any benefits

Is it mandatory to produce photo identity proof/address proof/signature authentication documents?
Yes. These documents are mandatory for participation in the scheme and are for the good of the member. The member has to produce these documents at the time of the maturity of the scheme

What if I don’t’s want to purchase jewellery after the 19th month?
If you do not wish to purchase jewellery after the 19th month, you need to fill-up an advance form and deposit an advance amount with us with which, you are required to purchase Gold/Diamond/Platinum or Silver jewellery of the member fails to do so, then at the end of the 3rd month, he/she would not be eligible for any scheme benefits

During the scheme, is it possible to increase the amount of installment?
It is not possible to increase the amount of installment during the scheme. However, if any member wishes to open a new account with a higher amount of installment, he/she can do so and avail the benefits of the scheme.

Can I get a statement like a bank under this scheme?
Yes in the beginning of the scheme, when you become a member, you are given a pass book in which all the details of your every month deposits will be filled-up by the cashier and you receive a cash receipt in return

If I lose my pass book, can I get a new one?
Yes. You can get a new pass book by paying Rs.100/-

What all documents would be required in order to join in this scheme?
To join this scheme, you need 2 recent passport-sized photographs, address proof and identity proof (Only Government recognized documents will be accepted)

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