MY GOLD 2022 PLAN TERMS & CONDITIONS
1. The Purchaser/ Customer confirms to have fully read and understood the various Terms & Conditions of
Purchase plans offered by the Company and based thereon, the Purchaser/ Customer has requested/selected to
avail the Gold under the My Gold 2022 Plan with terms and conditions as mentioned in Purchase Placement
Application & Contract Form.
2. That Present Gold Purchase agreement is only in respect of 24 Carat Purity Gold and the Rate Prevalent at
the time of actual Purchase is applied
3. The My Gold 2022 offered and agreed is for purchase placement for a specific weight of Bullion/Jewellery
with a specific monthly Purchase amount in a specific period of months
4. If the Minimum Monthly Purchases (MMP) amounts is stopped / Discontinued / Suspended then the Customer
will not be eligible for cash back and gold gram will be re-calculated as per fractional gram rate.
Fractional Gram rates are as follows:
(a) 4% plus For 9 grams -
(b) 6% plus For 8 grams
(c) 8% plus For 7 grams
(d) 10% plus For 6 grams
(e) 12% plus For 5 grams
(f) 14% plus For 4 grams
(g) 16% plus For 3 grams
(h) 18% plus For 2 grams
(i) 20% plus For 1 grams
(j) 25% plus less than 1 gram
5. If Customers wants he/she can put the account on a temporary pause for Maximum of 3 months by paying
nominal fees of Rs.100/- Per month. After three 3 months the account will be suspended by company, if not
6. To be eligible for cash back a minimum commitment of 10 grams of gold is required and customer will have
to select a term of 6 Months, 12 Months, 18 Months or 24 Months.
7. The processing fee / purchase placement application & contract process charges (Non refundable) is
applicable as follows: (a) For 6 months Rs.200/- ,(b) For 12 months Rs.300/- , (c) For 18 months Rs.400/-
,(d) For 24 months Rs.500/-.
8. That before 10th day of each month the customer shall pay his / her Minimum Monthly Purchases (MMP)
without any delay to facilitate a consolidated purchase on behalf of account holders every month.
9. If payments are made after 10th of the month a transaction fee will be charged of Rs.100/- for that
10. During the course of the term, if the customer wants to terminate the plan by paying rest of the amount
at one go he/she will have to intimate Goldsikka,a week in advance to close the account and gold gram will
be re-calculated as per fractional gram rate prescribed by the Goldsikka and the customer will not be
eligible for cash back.
11. That upon payment of all Minimum Monthly Purchases (MMP)+ processing fee and GST@3% + TCS@0.1% + TDS@0.1%
+ other levies as applicable, the company will hand over/delivery of the purchased gold to the customers on
next working day. That is on completion of the contract delivery period.
12. Purchaser/Customer has to bring the Minimum Monthly Purchase (MMP) card every month while making
payments. The original MMP card has to be surrendered at the time of redemption. The person, who has signed
the Purchase Placement application form, should sign on the invoice and delivery receipt at the time of
purchase / redemption/delivery.
13. GST and all other Govt taxes which are applicable or which may become applicable shall be paid by
customer at the day of purchase placement billing and subsequently on every payment of minimum monthly
installments (MMP) of the purchase placement application & contract.
14. The MY GOLD 2022 follows the Bullion rate declared by the company on all working days. All bank holidays
will be considered as holidays and the previous last closing rate to be taken as trade rate.
15. In Purchase Placement Application & Contract. NO REFUND of money is allowed under any circumstances under
the MY GOLD 2022.
16. All the payments shall be made by cheque or through bank transfer only. In case of dishonour of cheque &
ECS or NACH minimum bouncing charges of Rs.500/- shall be applicable. Purchaser/customer should ensure to
collect receipt voucher/ original at the time of payment.
17. That, This present purchase placement bill / agreement & contract is non transferable.
18. The purchase plans are unique and will not be linked to any other existing or future Purchase plans/
19. Under this Purchase Plan Indian citizens are only eligible, MINORS are not eligible to be a
20. The Gold to be handed over/delivered to the customers shall be in the form of Biscuits/Coins/Bars or
Jewellery only. Making charges, process wastage and taxes as applicable if any shall be paid by customer
separately. Gold delivery will be done within 7 working days.
21. At the time of registeringto purchase the Plan and on the day of taking actual delivery of gold, the
Purchaser/ Customer has to bring recent passport size colour photograph and ID proof documents such as Pan
card, Passport, Driving Licence or any other accepted ID proof.
22. The locker facility, if any, provided by the company at any of its branches is not regulated by the
Reserve Bank of India.
23. In case of change in address, loss of Minimum Monthly Purchases (MMP) card, the Company should be kept
informed without any delay. The purchaser/customers have to apply in writing for issue of duplicate card
enclosing KYC requirements.
24. The purchaser/customer signature at the time of maturity must match the registration.
25. In case the member does not take delivery of the Gold after completing the term within one month then the
company will hold the Gold as “stock in custody” till the customer takes delivery of the Gold. The customer
will be Communicated/Informed by the company in this regard by email / hard copy.
26. We deal only in LBMA approved gold.
27. All the general Force Majeure terms are applicable.
28. The Company may opt to send SMS or communication in other modes reminding payments and about any other
products/services of the Company or of any other entities or for conveying any information to the
29. The Purchaser/ Customer confirm that all particulars / details given in the applications are true and
correct and no information has been suppressed / with held
30. The Terms and Conditions notified herein and in all Purchase Plans may be Altered, Modified and / or
issued Fresh by the Company as per the Market Dynamics and Business requirements without affecting the Basic
Values of the Purchase Plans.
31. Subjected to Hyderabad jurisdiction only.