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Suvarna Sampada Scheme – Terms and Conditions

  • The scheme is run by Nakshatra Retail LLP, a franchisee of Lagu Bandhu.
  • The scheme is applicable for the purchase of Jewellery only. Gold coins, gold wali, etc. are not covered under scheme.
  • Customers would be required to deposit Rs.3000 /- (or multiples of Rs.1000 thereof) every month for a period of 15 months.
  • The scheme can be started on any day of the month. Further advances should be paid on or before the same date of subsequent months. In case of delay in payment of an installment, the due date of the scheme will be extended correspondingly.
  • The customer can purchase Jewellery against the installments at the end of 15 months from the start of the scheme or the extended date (in case of delayed payments) whichever is later.
  • There may be a delay in receiving the bill for the purchase made on maturity of the scheme as the billing will be done centrally from the Head Office.
  • A member would not be entitled for any benefits under the scheme till he/she makes good the default up to date by making necessary payments for delayed “Advances”.
  • Credit/Debit Card will not be accepted for payment of installments.
  • In case of dishonour of cheque the said “Advance” would be treated as unpaid and the customer will have to bear the bank charges – thereby attracting provisions of default in “Advance” as stated elsewhere in this note.
  • At the end of 15 months, the scheme will mature. On maturity, the customer can purchase any jewellery of value greater than the total of 16 installments. On maturity, we shall give the 16th installment in the form of discount equal to single installment amount of the scheme. For example: A customer who starts the scheme with Rs 3000/- monthly advance, would be able to purchase jewellery worth Rs. 48,000/- against the payment of Rs. 45,000/- made by him/her.
  • Customer will be given a Card which will bear the record of payments made by him/her which will be updated every month when the payments are made. A replica of the card – Membership Record will be maintained by us in the shop which will be updated simultaneously.
  • The “Membership Record” maintained at the shop which will bear the signature of the customer as well as manager of the shop will be the conclusive documentary record for the purpose of operation of the scheme.
  • Any member wishing to terminate the Membership may do so by asking for a refund. While refunding the money there will be deduction of 5% (of money deposited) towards administrative cost. There will also be deduction for benefit already availed under the scheme (by way of various discounts that may be offered from time to time to the members). The said member would not be entitled for any future benefits (including one additional installment at the end of scheme period to be contributed by us). The refund amount shall be paid by account payee cheque only.
  • The management will have the right to terminate the scheme at any time, without giving any reason by refunding the money collected under the scheme.