Gold Own Plan

What is Gold Own Plan

Own Gold and Pay in Minimum Monthly Instalments.
  •  Buying Gold made easy by Goldsikka.
  •  For the first time in India, buy Gold & Silver in easy Instalment without paying any Interest.
  •  Take home 24 carat of 999 purity Gold
  •  It can be purchased in the form of Coins, Biscuits, Bars and 22 carat ornaments


Product offered Gold and Silver 24 carat of 999 Purity certified gold in Tamper proof packing
Interest No interest is applicable under Gold own plan.
Minimum Purchase Customer can buy Gold from 20 grams onwards.
Tenure Tenure ranges from 6 Months to 12 Months
Documentation Instant approval and minimum documentation
Statement Account Online account statement to monitor Installments
Payments 25% Down payment and rest in easy monthly Installments
Payment Method All the payments shall be made by cheque or Bank transfers
Gold/Silver Pricing Average Gold and Silver prices as computed by the system, the same will be displayed on the website on a regular basis.
Minimum Monthly Installment(MMI): Based on Gold & Silver price and weight in grams Minimum Monthly Installment (MMI) will be decided.


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 Gold Own 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/999 Purity Gold and the rate prevalent /momentum at the time of actual purchase agreement shall be made applicable and the same shall always remain binding.

3. The Gold Own Plan offered and agreed is for purchase placement for a specific weight of Bullion with a specific monthly Installment amount in a specific period of months.

4. Applicant has to provide Two Government employees surety and necessary documents from concerned office.

5. Customers can choose to foreclose the plan before completion of term. However the request for Foreclosure can be submitted only on expiry of locking period of six months from the date of entering into the contract. Foreclosure fees of Rs100 per gram are applicable.

6. If the customer fails to pay Minimum Monthly Installments (MMI) for continuously three months, then the company will terminate contract and start legal proceedings to recover the remaining amount with interest and late fees from guarantor. An interest rate chargeable is 30% p.a. on unpaid amount. GST on late fees and unpaid balance as applicable.

7. GST applicable is 3% and it is calculated at the time of purchase agreement. GST amount is added to the purchase amount and same shall be collected in monthly installments.

8. Processing fee Rs.1000/- and Documentation fees Rs.800 and verification fees of Rs.1000 is charged for per 20 grams at the time of application and same is non refundable, non adjustable and non transferable.

9. That before 5th day of each month the customer shall pay his / her Minimum Monthly Installments (MMI) without any delay .In case of delay in payment of MMI within stipulated period, the late fee @Rs.10/- per gram for each month shall be imposed.

10. That upon payment of all Minimum Monthly Installments (MMI), processing fee and GST@3% as applicable, the company will close the account. A letter of completion of the contract is given to the buyer.

11. In case the rate of the gold Increases or Decreases at any time in future, the purchase placement rate shall remain binding on the both parties.

12. Purchaser/Customer has to bring the Minimum Monthly Installment (MMI) card every month while making payments. The original MMI card has to be surrendered at the time of Closure.

13. GST and all other Govt. taxes and levies which are applicable or which may become applicable shall be paid by customer.

14. The Gold Own Plan follows the bullion rate declared by the company at 11:00 AM on all working days. All bank holidays will be considered as holidays and the previous last closing rate to be taken as trade rate.

  • a) The opening rate for wholesaler is at 11:00 AM on all working days.
  • b) The first reviewed rate at 2:00 PM.
  • c) The second reviewed rate at 4:00PM.
  • d) The closing rate will be at 5:00PM on all working days.

15. 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.

16. That, This present purchase placement bill / agreement & contract is non transferable.

17. The purchase plans are unique and will not be linked to any other existing or future Purchase plans/ offers.

18. Under this Purchase Plan only Indian citizens eligible, MINORS are not eligible to be a Purchaser/Customer.

19. That Gold to be handed over/deliver to the customers shall be in the form of Biscuits/Coins/Bars only. Making charges, process wastage and taxes as applicable if any shall be paid by customer separately.

20. At the time of joining of the purchase Plan and at the day of taking actual delivery of gold, the Purchaser/ Customer has to bring recent passport size colour photograph and documents required Pan card, Passport, Driving Licence and any other accepted ID proof.

21. The locker facility, if any, provided by the company at any of its branches is not regulated by the Reserve Bank of India.

22. In case of change in address, loss of Minimum Monthly Installments (MMI) card, the Company should be kept informed without any loss of time. The purchaser/customers have to apply in writing for issue of duplicate card enclosing KYC requirements.

23. This purchase plan is purely a purchase and sale, thus a trading activity of goods and commodity and this is not a Collective Investment Scheme (CIS) or any kind of deposit whatsoever as define by the “Companies Act 2013”. The purchase Plan does not offer any benefits, interest in cash or kind and is purely for the delivery of a commodity i.e., is 24 Carat/999.9 Purity Gold bullion. Under sale and purchase activity with GST@3% as applicable. And amounts accepted for designated transactions and are adjusted against the sale and delivery consideration.

24. We deal only in LBMA approved gold.

25. All the general Force Majeure terms are applicable.

26. 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 Purchaser/Customer.

27. The Purchaser/ Customer confirm that all particulars / details given in the applications are true and correct and no information has been suppressed / with held.

28. 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.

29. Subjected to Hyderabad jurisdiction only.