Aisshpra Gold Flexi Rate Plan (GFRP) - Terms & Conditions

 

This Scheme shall be known as “Aisshpra Gold Flexi Rate Plan” (hereinafter referred to as “the Plan”).

For the purpose of this Plan, Aisshpra Company Private Limited, (formerly known as Hari Prasad Gopi Krishna Saraf Private Limited), shall be referred to as “the Company”, and the customer enrolling under the Plan shall be referred to as “the Account Holder.”

1. Eligibility & Enrolment

1. Only individuals 18 years of age or above are eligible to enrol under this Plan.
2. The Plan is voluntary, non-transferable, and valid only at authorised Aisshpra showrooms.
3. The Account Holder must complete KYC formalities as prescribed by the Company.
4. The Plan commencement date shall be the date of the first deposit.

2. Deposits & Gold Rate Locking

1. The Account Holder may deposit any amount, at any interval, during the Plan tenure of 360 days.
2. The last installment cannot be accepted post 320 days from plan opening date.
3. There is no fixed instalment, frequency, or mandatory contribution.
4. With each deposit, the prevailing 24kt gold rate of that day shall be fixed to the extent of the deposited amount.
5. Equivalent gold grams shall be digitally credited to the Account Holder’s Plan account.
6. All transactions shall be system-recorded only. Manual entries shall not be entertained.
7. Gold rates are subject to market fluctuations and may change without prior notice. Aisshpra Company Private Limited does not make any representation, warranty, or claim regarding any increase or decrease in gold prices.

Illustration

Installment	24k rate / g	Booked weight in gram
100000/-	10000	10.000g
14000/-	12500	1.120g
25000/-	11000	2.272g
50000/-	11500	4.348g
Total (189000/-)		Total (17.740g)

Average gold rate 24k = 189000/- divided by 17.740 g = 10654/- per gram

18k average rate is 7990/- per gram

22k average rate is 9766/- per gram

3. Cash Deposit Limit (Regulatory Compliant)

1. Cash deposits under this Plan shall be accepted strictly as per applicable income-tax and regulatory laws prevailing on the date of deposit.
2. The maximum permissible cash deposit limit may change from time to time, and the Account Holder agrees to comply with such limits.
3. Deposits beyond the permissible cash limit must be made only through banking channels.

4. Tenure, Lock-in & Mandatory Redemption

1. The minimum lock-in period of the Plan shall be 180 days from the date of first deposit.
2. The Plan must be redeemed mandatorily within 360 days from the date of first deposit.
3. Redemption is permitted any time between 180 days and 360 days.
4. Cooling Period Condition: To avail full benefits of making charge discount under Clause 7, redemption/purchase must be done at least 30 days after the date of the last installment deposited by the Account Holder. This condition is in addition to the 180-day lock-in period. Both conditions must be satisfied.
5. The tenure of the Plan cannot be extended beyond 360 days under any circumstances.

5. Gold Weight & Average Rate Calculation

1. At the time of redemption, the average gold rate shall be calculated as:

Average Gold Rate = Total Amount Deposited ÷ Total Gold Grams Booked

1. The Account Holder shall be eligible to purchase jewellery up to the cumulative deposited amount, calculated at the average gold rate fixed under the Plan.
2. Any purchase beyond the accumulated amount shall be charged at the current prevailing gold rate on the date of billing.

6. Redemption & Mandatory Purchase

1. Redemption under this Plan shall be permitted only against mandatory purchase of:
   • Gold jewellery
   • Diamond jewellery
   • Gold coins (24kt)
2. Redemption under this Plan shall not be permitted against purchase of pre-booked or pre-ordered jewellery or products, whether placed prior to or during the Plan tenure.
3. Cash refund is not permitted under any circumstances, whether on maturity, early redemption, or otherwise.
4. The Plan must be redeemed in full, in a single purchase transaction. Redemption with making charge discounts as per Clause 7 shall be permitted only when both conditions are met:
   • 180 days have passed from first deposit, and
   • 30 days have passed from the last deposit date.
5. GST and all other applicable taxes shall be charged as prevailing on the date of redemption.
6. No two saving schemes can be clubbed together in a single purchase.

7. Making Charges & Discount Benefit

1. Making charges shall be applicable at current prevailing rates on the date of billing.
2. On redemption between 180 and 360 days, and subject to the 30-day cooling period from last deposit as per Clause 4.4, the Account Holder shall be entitled to a flat 25% discount on making charges on gold jewellery.
3. The flat 25% making charge discount is fixed and cannot be replaced, substituted, or opted out of in favour of any other prevailing or promotional offer.
4. 25% discount on making charges will not apply on purchase of gold coins.
5. Account Holder shall be entitled to a flat 75% discount on making charges on diamond jewellery, subject to conditions under Clause 4.4 and 6.4.
6. Early Redemption (Before 180 Days or Without 30-Day Cooling):
   • If the Account Holder redeems the Plan before completion of 180 days from first deposit or without completion of 30 days from the last deposit date:
   • The flat 25% discount on making charges on gold jewellery and 75% discount on making charges on diamond jewellery shall not be applicable.
7. Non-Clubbing of Benefits: During redemption under this Plan
   • Only the flat 25% / 75% making charge discount shall apply as per Clause 7.
   • No other running, prevailing, or promotional offer or scheme shall be applicable, even if such offers are otherwise available to the general public.
   • Cannot be redeemed against purchase of promotional, specially priced, value deals and best deal products.

8. Mode of Payment

1. Payments may be made via:
   • Bank transfer / UPI / authorised digital modes
   • Cheque (subject to clearance)
   • Cash (within legally permissible limits)
2. For payments made through UPI, NEFT, RTGS, IMPS, or bank transfer, customers must immediately inform their branch for gold rate fixing and receipt confirmation. If the rate is not fixed on the same day of transfer, the prevailing gold rate on the date of rate fixing shall apply.
3. The Company shall not be responsible for payments made to unauthorised persons or accounts.

9. Nature of the Scheme & Non-Refundability

1. This Plan is a purchase-linked gold accumulation and loyalty scheme.
2. The Plan does not permit cash withdrawal or refund under any circumstances.
3. The Account Holder must compulsorily redeem the Plan by purchasing jewellery or gold coins.

10. Nomination & Death of Account Holder

1. In case of death of the Account Holder, redemption shall be allowed in favour of the nominee or legal heir, subject to submission of required documents.
2. The Company’s decision regarding documentation sufficiency shall be final and binding.

11. General Terms

1. The Company reserves the right to modify, suspend, or withdraw the Plan, subject to regulatory requirements.
2. The Company’s liability under this Plan shall be limited only to the total amount deposited by the Account Holder.
3. All disputes shall be subject to Gorakhpur City jurisdiction only.