Lalitha Jewellers Gold Scheme
One of South India’s largest jewelry chains, Lalithaa Jewellery Mart Pvt. Ltd. was founded in 1983.
Mr. Kiran Kumar is the founder of Lalitha Jewellers, which is headquartered in Chennai, Tamil Nadu.
However, the showrooms of jeweller are spread across different places in the state of Tamil Nadu, Andhra Pradesh, Telangan, Karnataka and Pondicherry.
This company draws inspiration from the fact that customer(s) is empowered to make educated decisions when it comes to purchasing something that has sentimental value.
Therefore, this jeweller stands out among the various jewellers in India, not just in terms of exhaustive range it offers across all the sections be it in gold, silver, platinum, ruby, diamond. However, also for its low wastage charges and no making charges.
The Company has introduced Eleven Month Plan and Golden Blossom scheme under the Lalitha Jewellers Gold Scheme.
Gold Scheme to enable you to buy some gold without having to pay a lump sum at one go.
This plan is Gold Savings Schemes and not Gold Investment Schemes. However, there are certain pros and cons of such schemes, and you should keep them in mind before deciding to put your amount in them.
Before, we go deeper into the both gold scheme, Let’s look at the common information about the Lalitha Jewellery Gold Scheme.
Lalitha Jewellers Gold Scheme T&C
- The Jewellery Buy Plan is unique and will not be linked to any other existing schemes or offers.
- The applicable GST i.e. Goods and Services Tax has to be fully borne by the subscriber. In case of increase/changes in GST, the same shall also be fully borne by the member.
- The Lalitha Jewellery Private Limited reserves the right to alter, amend, add or delete part or whole of the privileges of the Jewellery Purchase Plan without prior notice or suspend the same at any time.
- The subscriber(s) can redeem only at the showroom where they have enrolled.
- Payment of instalment(s) beyond the stipulated period, or payment of more than one instalment, will not be entertained.
- All disputes are subject to jurisdiction of the competent courts in Chennai Tamil Nadu.
- In case of any change in address mobile number, loss of membership card, the company should be kept informed without any loss of time. After that, the subscriber has to apply in writing for issue of duplicate card enclosing KYC requirements.
- The subscriber(s) have the option to buy gold coins also under the Jewellery Purchase Plan.
- any cash refunds are not allowed.
Eleven Month Plan Features
|Scheme||Eleven Month Plan 2021|
|Benefits||One Free Instalment + 50% discount on Value Addition (V.A). |
Lalitha Jewellers have started representing the Wastage Charges and Making charges together as VA or ‘Value Addition’.
|Eligibility||All of the Indian residents (Individuals, Trust, HUFs, Financial Institutes, Universities, etc.).|
However, minor can not become an applicant or member.
|Registration Fees||INR 0/-.|
|Investment||Rs. 1000/- or Rs. 1500/- or Rs. 2000/- or Rs. 2500/-|
Terms and Conditions
- In case the subscriber wishes to buy over and above the accumulated amount, full V.A. i.e. Value Addition is chargeable on the excess amount.
- Applicable Stone Charges will be collected from the subscriber(s) for all stone ornaments.
However, special items such as Oddiyanam, Nagaz, Kumkumchimizh, Thirumangalyam, etc., shall attract extra charges as applicable.
- A discount of 25% on applicable V.A. Charges is offered on Diamond jewellery.
- The subscriber(s) has to bring the membership card every month while making payments.
However, the original membership card has to be surrendered at the time of taking delivery of jewellery.
The subscriber, who has signed the application form, should sign on the invoice and Purchase Plan card at the time of purchase / taking delivery of jewellery.
NOTE: Gold plan is not applicable for Gold Nose Pins in TN & Pondy. In AP & Telangana the same is not applicable on Diamond nose pins. In Karnataka it is not applicable on Navratna rings.
For AP & Telangana: Applicable Stone Charges will be collected from the members for all stone ornaments. Special items such as Oddiyanam, Nagaz, Kumkumchimizh, Thirumangalyam, etc shall attract additional charges as applicable.
Golden Blossom Features
Lalithaa’s innovative Golden Blossom allows you to exchange your old jewels for new and at no extra cost.
In addition, customer also have the option of enrolling in this plan by making a one time payment to take home the jewellery of your choice.
See below table for your convenient month-wise options.
| 150 Days|
All types of Gold jewellery with V.A. Charges up to 5% can be purchased with No V.A. Charges. (V.A. Charges in excess of 5% has to be borne by the customer.)
| 180 Days|
All types of Gold jewellery with V.A. Charges up to 6% can be purchased with No V.A. Charges. (V.A. Charges in excess of 6% has to be borne by the customer.)
| 210 Days|
All types of Gold jewellery with V.A. Charges up to 7% can be purchased with No V.A. Charges. (V.A. Charges in excess of 7% has to be borne by the customer.)
| 240 Days|
All types of Gold jewellery with V.A. Charges up to 8% can be purchased with No V.A. Charges. (V.A. Charges in excess of 8% has to be borne by the customer.)
| 270 Days|
All types of Gold jewellery with V.A. Charges up to 9% can be purchased with No V.A. Charges. (V.A. Charges in excess of 9% has to be borne by the customer.)
| 300 Days|
All types of Gold jewellery with V.A. Charges up to 10% can be purchased with No V.A. Charges. (V.A. Charges in excess of 10% has to be borne by the customer.)
| 330 Days|
All types of Gold jewellery, whatever be the category, can be purchased with No V.A. Charges.
| 330 Days|
All types of Diamond Jewellery can be purchased with 50% less on V.A. Charges and Rs.1000/- less per carat.
Terms and Conditions
- Minimum booking amount is Rs.10,000/-. There is no CEILING for the maximum amount and a copy of PAN is to be furnished for amount exceeding Rs.2,00,000/- and TDS will be applicable.
- Members will get credit in rupees or gold units in grams credited according to the payment made as per gold rate prevailing on the date of payment in the respective showroom where enrolled.
- The time period for redemption/purchase shall not exceed 365 days from the commencement date of the scheme.
Also Read Joy Alukkas Gold Scheme 2021 – Review
- PAN card
- Driving License
- Aadhar card
- Voter ID card
However, original identity proof is required at the time of closure of the same person who had purchased the scheme.
How to Enroll in the Lalitha Jewellers Gold Scheme?
- To enroll in this scheme, customers can walk into any Lalitha Jewellers store. However, online option is not available for enroll the scheme.
- At the time of enrollment, customers will have to select a product, and choose the size, length and weight.
Lalitha Jewellers Gold Scheme Online Payment
Time needed: 5 minutes.
Follow the steps given below for payment through the Lalitha Jewellers website.
- Offline Payment
To make the payment, the subscriber must carry the plan membership card.
To make the payment towards the scheme, subscriber(s) can pay through cash, credit card, electronic clearance service or through cheque or demand draft favoring “Lalithaa Jewellery Mart Pvt. Ltd.“
- Online Payment through SBI
For pay the monthly installment, visit https://www.lalithaajewellery.com/ site and click on “Pay Online“.
- State Bank of India (SBI)
In the next step, you can click on State Bank of India (SBI) icon.
- SBI T&C
Please read SBI terms and conditions carefully before proceeding any further.
- Online Monthly Installment
You can select the “online payment” option from the payment category dropdown and enter the “membership number”. After that, click on “submit” button and pay to move to the payment page.
You can make the payment through SBI Net Banking, SBI ATM cum Debit cards, Other Bank Debit Card, Credit Cards or Other Banks’ Net Banking.
You will be issued a receipt which you must keep for future reference.
Note: There may be changes in the schemes, hence confirm from the retailers before you save through them.
Lalitha Jewellers Helpline Numbers
|Customer Service No||+91 7338816727 / 044 – 28141177 / 044 – 28349860|
The Bottom Line
In conclusion, these plans may not be perfect for you if your sole purpose of buying gold is from an investment perspective.
In such a case, you can opt for Sovereign Gold Bond (SGBs) or Gold Exchange-Traded Fund (ETFs).
Click here to look more on different types of buying gold.
Source – Lalitha Jewellers