Jewels SAP Terms & Conditions

Scheme Overview

Muliya Jewels SAP (Systematic Advance Purchase) is a monthly instalment plan that lets you plan your jewellery purchase in a systematic way. It is an advance payment plan for jewellery purchase only and shall not be treated as an investment, savings, or deposit scheme.

Instalments & Tenure

• The customer pays a fixed monthly instalment for the chosen tenure of the scheme.
• Each instalment is converted into equivalent gold weight based on the gold rate prevailing on the date of that instalment payment.
• The total accumulated gold weight at maturity forms the customer's entitlement under the scheme.

Scheme Benefits

• On completion of the full tenure, the customer becomes eligible for the applicable Value Addition (VA) benefit as per prevailing scheme terms.
• Benefits are applicable only on the weight/value accumulated under the scheme and only on eligible jewellery products.
• No gifts, interest, bonus, or assured returns are applicable under this scheme.

Eligibility

• Scheme benefits are applicable only on jewellery products with VA 12% and above. Coins, bars, bullion, and low-VA products are not eligible.
• Early closure or missed instalments may affect eligibility for scheme benefits as per the applicable terms.
• KYC documentation is mandatory for enrollment and redemption.

Gold Conversion & Billing

• Jewellery billing will be calculated based on the prevailing gold rate and VA charges applicable on the redemption/billing date.
• Any additional purchase beyond the accumulated weight/value will attract VA charges as per prevailing rates.
• Gold prices and VA charges are subject to market fluctuations, and customers acknowledge the associated market risks.

Payment Rules

• Payments above ₹1,99,999 shall be accepted only through approved banking modes as per applicable Income Tax and statutory regulations.
• Instalments must be paid within the prescribed period each month to keep the scheme active.

Old Gold Exchange

• Old gold accepted under the scheme will be valued as per company standard valuation process and shall become company property upon adjustment. Old gold once adjusted cannot be returned.

General Terms

• Scheme benefits cannot be combined with any other promotional offer unless officially approved by the company.
• Jewellery purchase is subject to product availability. Order and delivery timelines depend on the manufacturing schedule and company billing policies.
• The company reserves the right to modify, suspend, or withdraw the scheme at its discretion without prior notice.
• All taxes shall be applicable as per Government rules prevailing at the time of billing.