Savings Schemes
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PONMAGAL PLUS
Ponmagal plus 11 has been exclusively created to help you plan and buy the jewellery that you always wanted to buy. With OKJ, as your daughter grows, so shall the gold. Like it has for over 4 generations.
Your monthly payments are captured either on the basis of the weight of gold, at the price on the date of payment or in value (Rupees). At the end of the maturity period, you can make the choice on how to redeem it, for cash or for weight based on what is most beneficial to you. Now that’s a dazzler isn’t it?
The monthly advance against purchase of gold jewellery is credited to your account, at the current rate.
When you buy jewellery upon maturity, you enjoy special privileges:
The customer can purchase Jewellery in short period
How it works ?
| Accumulated Gold Weight | Plain Gold Jewellery Selected | Difference in Weight | Acutal Jewellery Wastage | Customer Eligibility | Difference in Wastage (VA) to be paid by the customer | Making Charges |
|---|---|---|---|---|---|---|
|
50 gms |
50 gms |
NIL |
18% |
18% |
NIL |
NIL |
|
50 gms |
60 gms |
10 gms |
18% |
18% |
18% on 10 gms |
NIL |
|
50 gms |
60 gms |
10 gms |
12% |
18% |
12% on 10 gms |
NIL |
|
50 gms |
60 gms |
10 gms |
22% |
18% |
4% on 50 gms 22% on 10 gms |
NIL |
| PONMAGAL | Option-1 | Option-2 | For Diamond Jewellery.No Wastage & No making charges | ||||
|---|---|---|---|---|---|---|---|
|
S.No |
Months |
Assuming Gold Rate 22Kt. (RS) |
Installment Amount (RS) |
Gold Weight (Gms) |
Accumulated Gold Weight |
Accumulated Amount |
Accumulated Amount |
|
1 |
Jan |
4800 |
10000 |
2.083 |
2.083 |
10000 |
10000 |
|
2 |
Feb |
4850 |
10000 |
2.062 |
4.145 |
20000 |
20000 |
|
3 |
Mar |
4950 |
10000 |
2.020 |
6.165 |
30000 |
30000 |
|
4 |
Apr |
5000 |
10000 |
2.000 |
8.165 |
40000 |
40000 |
|
5 |
May |
5050 |
10000 |
1.980 |
10.146 |
50000 |
50000 |
|
6 |
Jun |
5100 |
10000 |
1.961 |
12.106 |
60000 |
60000 |
|
7 |
Jul |
5150 |
10000 |
1.942 |
14.048 |
70000 |
70000 |
|
8 |
Aug |
5200 |
10000 |
1.923 |
15.971 |
80000 |
80000 |
|
9 |
Sept |
5250 |
1.905 |
17.876 |
90000 |
90000 |
|
|
10 |
Oct |
5300 |
10000 |
1.887 |
19.763 |
100000 |
100000 |
|
11 |
Nov |
5350 |
10000 |
1.869 |
21.632 |
110000 |
110000 |
|
12 |
Dec |
|
Total Accumulated Weight 21.632 Gm |
Total Accumulated Amount 110000 |
Total Accumulated Amount 110000 |
||
Frequently Asked Questions (FAQ)
OKJ Ponmagal Plus Savings Scheme is a smart investment plan in short period with 3 options. Your monthly payment will be captured on the basis of the weight of gold at the price on the date of payment, or value (Rupees) of your monthly investment. You can pay in installments of Rs.1000 or multiples of Rs.1000 every month, for a period of 11 months. At the time of maturity, you get to choose the best redemption benefits.
Monthly installment amount is fixed, that you can decide when enrolling for the scheme.
You can pay installments by Cash/DD/Money order/ Credit card/Post-dated cheques (PDC)/At par Cheques or Local Cheques/ Outstation Cheques will not be accepted. Monthly installment should reach OKJ before the end of every month.
The installments cannot be carried over or paid in advance. Advance of the maturity date is not permitted
If you wish to discontinue before 11 months, you will be eligible to buy jewellery for the total amount you have paid without any other benefits of this plan.
Yes, you can buy platinum, ruby, emerald, ethnic, or silver articles if choose accumulated amount based redemption. Value addition (wastage), making charges & Stone charges will be applicable.
Yes, you can buy 22kt gold coins. Without value addition (wastage) and no making charges.
Total value addition (wastage) will be charged on excess weight.
Customer will have to bay GST or any other applicable
tax at the time of closure of scheme.
