Save gold conveniently in GGJ’s flexible Gold Saving Scheme

Gold Savings Scheme



This Scheme hereby brings you a good opportunity to invest in gold jewellery .
Invest in small monthly installments which are added up to provide you a host of benefits.

1. Discount benefit at the end of the scheme.
2. Choose from a huge variety of design handcrafted specially for you.

Gold saving scheme

Guinea gold jewellers Pvt. Ltd. (“GGJ”) cordially offers all Indian Citizens to purchase their
jewellery via payments made in accordance with the Gold Saving Scheme(“SCHEME”). the terms and
conditions of this scheme are as follows:

Eligibility, Installments and Subscription

1. Any person willing to join with the gold saving scheme of GGJ.

2. Customer who enrol in the gold saving scheme of GGJ will hereinafter be referred to as “member” of the said scheme.
3.The member will decide and agree with GGJ on the proposed amount to be paid as monthly installments for a period of 11 months for Purchase of jewellery at the end of such a period (installment amount).
4. The starting installment amount would be INR 1000 (indian rupees one thousand) and subsequent multiples thence.
5. Before subscribing to the scheme, each member has to provide the following information to GGJ, which GGJ will record and maintain:

  • Valid address proof e.g. voter id card/adhar card/electricity bill/passport/bank pass book
  • Valid identity proof e.g. Adhar card/voter card/driving license/passport.

6. In case of any change of contact details, the member is required to intimate the showroom within 7 days from the date of change. in Case the change has occurred towards the end of redemption period (defined hereinafter), the member has to mandatorily intimate the Same to GGJ immediately.


7. Each member will be provided with a pass book evidencing his/ her payment. The pass book is the one and only document to identify the member and preserved safely by the customer.

8. Member should take his/her pass book to the showroom every time and ensure that all payments made by them are correctly entered in the passbook. Any discrepancy in the entries should immediately be brought to our notice.

9.Member should also request for and take a computerised money receipt from the showroom.

10. Member should check if the pass book is signed by himself/herself and by the showroom cashier / manager while enrolling, to affirm the validity of the pass book for proper reference at the time of redemption. During redemption, the pass book has to be submitted by the member.

11. In case of loss of original pass book, the member should inform GGJ immediately. This would be to ensure that no third party is able to redeem with the relevant pass book. A duplicate pass book can be issued only after submission of certified copy of the FIR with the concerned police station. Along with the request letter from the member of the scheme and all necessary identity proofs as required by the showroom. Showrooms shall not issue any duplicate pass book unless the member provides computerised receipts given to him/her by the showrooms in the past together with address proofs. In all cases, administrative charges of Rs 50/- will be charged. GGJ will not be responsible for any loss that may occur as a result of loss of the pass book.


12. Payments of the installment amount can be made either in cash, card, cheque, demand draft or online payments through bank in favour of Guinea Gold Jewellers Pvt. Ltd. Payable at the showroom where the account is opened.

13. In case the payment of the installment amount is made through a cheque or online banking systems then GGJ will recognise the payment only when the payment has been cleared and the account of GGJ has been credited. The date of payment will be the date on which the amount is reflected in the account of GGJ. In case of non clearance of cheques/online payments, the grant of the benefits of the scheme shall be discretionary on the part of GGJ.

14. The member will ensure that all the payments of the installment amounts are made only at the showroom in which the account has been originally opened. No transfer of account shall be permitted before the maturity date.

15. The amount of monthly installment cannot be changed during the tenure of the scheme.


16. Subject to compliance of all terms & conditions of the gold saving scheme members subscribed under the scheme will be entitled to redeem the amount paid under the scheme at the time of purchasing jewellery of his/her choice only from the showroom in which it had originally opened its account.

17. the scheme compulsorily matures at the end of 11 months from the date of payment of first installment amount. The jewellery purchased has to be mandatorily collected within the last 10 days before the expiry of 12th month, which will not be later than 365 days from the date of payment of the first installment amount (“redemption period”). The equivalent amount for the 12th installment will be offered by GGJ as a discount on the purchase of the jewellery.

18. n case, the member does not collect the purchased jewellery within the redemption period , then such GGJ would hold the purchased jewellery (as sold on the last date of redemption period) in trust for the member for a maximum period of 30 days from the date of redemption period. Post the 30 days period, GGJ will use its best effort to deliver the jewellery to the address of the member registered with GGJ at the cost and risk of the member. GGJ will in no manner be responsible for the jewellery once the sale occurs, which will be latest at the end of the redemption period.

19. The funds provided as installment amounts under the scheme are always to be redeemed by purchase of gold jewellery only at respective GGJ showrooms. There will be no cash refund provided for any reason whatsoever. Diamond, platinum, silver, gold coins jewellery cannot be redeemed against the scheme.

20.If there is any delayed payment or nonpayment by the member of an installment amount, then GGJ will have the right not to provide any discount on the sale of the jewellery, as mentioned in clause 14 above.

21. All jewellery purchased under the scheme will be subject to making charges, labour charges, wastage, sales tax or vat, super charges as applicable, apart from gold/stone charges.

22. In case the pass book is brought by any other person other than the member, then GGJ will only recognise and process any request if such a person is carrying a letter of authority/power of attorney from the member. GGJ would not be responsible to determine the veracity of such a document. GGJ will also not be responsible in any manner, in case of any loss in pursuance to any transaction carried out by such a third party.

23. In case the member decides to prematurely close the scheme then GGJ will have a right not to provide any discount on the sale of the jewellery, as mentioned in clause 14 above.

24. At the time of redemption/premature closure, the account holder(member) has to personally come with the original photo id proof acceptable to GGJ and the effect the maturity/redemption/closer.

25. Prepayments of all the installment amounts and redemption (with scheme benefit) thereon, before indicated date of maturity (on the pass book) will not be allowed and redemption will only be allowed at the maturity of the scheme.


26. No other scheme or offer of GGJ may be clubbed with this scheme. A scheme once selected, cannot be altered into any other scheme (existing or new), which may be run by GGJ from time to time.

27. Gold rate will be determined at the respective time of payment of the installment amount, depending on GGJ rate policy for converting the monthly amount of installment in the quantity of gold.

28. GGJ showrooms will not be responsible to send reminders for payments.

29. GGJ reserves the right to alter, amend add or delete part or whole of the conditions of the scheme without prior notice to the member(s).

30. GGJ reserves the right to suspend/discontinue the scheme at any time. In case of such an event, the member may purchase any item at the showroom equal to the value of the proceeds accumulated in the account till date.

31. The maximum liability of GGJ under the scheme, for any reason whatsoever, is limited to the installments amounts paid by the members under the scheme.

32. All disputes, claims and differences touching or concerning the interpretation, execution, enforcement or any other matter relating to “gold saving scheme” shall be subjected to the exclusive jurisdiction of court of durgapur.

33. In case of change of laws, rules, regulations or directions given by any regulatory authority or government authority, the member undertakes to cooperate with GGJ allow GGJ to make necessary changes to allow compliance.

34. Any conditions, which are explicitly not covered above would be at the discretion of the GGJ at the time of transaction. The decision of the company in this regard would be deemed as irrevocable and final.

35. In case of death of the member the account is transferable only to the person(s) whose nomination has been filled by the member in the form at the time of opening the account. In case the account does not wish to nominate any person, only such person who will be classified under law to be a successor will be recognised by GGJ to be so. The nominee or the relevant successor claiming the balance in any account shall avail the balance only on submission of adequate identity proof or other relevant documents to the GGJ.


  • Gold is such an asset that are to be owned by individuals that will give security in future
  • Monthly planned savings in gold will not hamper monthly household expense.
  • Jewellery gives a sense of both style and pride for the bride or a consumer.
  • Guinea Gold Jewellers pvt. Ltd. Is more than 38 years old company.


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