Terms & Condition

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  1. Monthly installments must be equal and paid continuously for 11 months. Advance payments beyond the 11th month are not allowed.
  2. Installments must be paid before the 10th of each month. Late payments are not accepted.
  3. Payments can be made via cash, DD, UPI, NEFT/RTGS, cards, or cheques. Cash payments are capped at ₹17,000 per month.
  4. In case of cheque dishonor, the bank charges will be borne by the customer.
  5. Customers must bring their passbook while making payments and surrender it at the time of redemption.
  6. Loss of the passbook or a change in address must be reported immediately, and a new passbook must be applied for with updated KYC.
  7. Unused balance amounts cannot be refunded in cash but can be adjusted against purchases of gold/silver articles.
  8. The scheme does not generate interest on advance payments.
  9. At maturity, customers can redeem the accumulated gold weight or value for gold jewellery, coins, or other permitted articles.
  10. GST and any other government levies will be borne by the customer at the time of redemption.
  11. If you discontinue before 8 months, wastage (VA) discounts will not apply. For months 8–10, partial discounts (as per the benefits table) will be applicable.
  12. Any excess purchases beyond the accumulated weight or value will incur wastage (VA) charges.
  13. Customers can buy gold jewellery, coins, silver articles, and gemstone jewellery, but additional charges for value addition and making will apply.
  14. Nominees can be assigned by submitting the required KYC documents. For minors, a guardian’s signature is mandatory.
  15. The scheme benefits are non-transferable and cannot be linked to other schemes.
  16. The scheme must be redeemed within 1 year of enrollment. Unclaimed balances will only be adjustable toward jewellery purchases.
  17. OKJ reserves the right to modify or amend the terms of the scheme, with prior communication to customers