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What is Carat loan (GRP)?

Step 1

Goldsikka Company will buy the Ornaments from the customer giving them better pricing than customers opting for Loan against Gold in leading companies.

When the customer comes to a franchisee to sell the gold, the following steps to be followed:

1. Weighing Ornament : Franchisee will weigh the Ornament using the Digital Weighing machine which is connected to the application. The application reads the data directly from the Digital Weighing machine.

2. Remove Weight Other than Gold : The Franchisee will input other non-Gold items like Stones, Pearls in the Ornament.

3. Purity Check : The Franchisee will do a purity check of the Gold.

4. Take 360 degree Image : The Franchisee will capture high quality image and needs to upload it into the application.

5. Approval from Gold Expert : The Gold Expert who sits in the Central Office will check the High-Quality images and predict the purity based on other information provided by the Franchisee. He will approve the purity.

6. Buying Price Calculation : Based on all the information and steps, the total amount of Gold will be displayed. Along with that, today Gold Rate will be displayed. With these two components and some other parameters, the system will calculate the buying price and will be displayed.

7. If the owner is satisfied with the price, the franchisee will take Name, mobile number and KYC documents and execute the buying of Gold Ornament.

Note: People without Pan Card will not be able to sell Ornaments above 50,000 Value.

8. Receipt & Payment : After buying the Gold, the system will generate an itemized receipt and along with the payment mode.


Step2

 In this Step Customers can reclaim their Gold by paying fixed amount in a fixed Period of time from Goldsikka.

 In Carat Loan (Gold Reclamation Plan) customer can also select the tenure of the periodic installments. Carat Loan (Gold Reclamation Plan) is available for a tenure ranging from 1 year to 3 years.

 The Processing fee will be charge Rs.50/- per gram.

Features

Gold Pricing Average gold 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 price and Gold grams Minimum Monthly Installment (MMI) will be decided.
Tenure Period 1 year to 3 Years.
Gold All the payments shall be made by cheque or through bank transfer only.Gold grams of 24 Carat of 999 fineness.
Payment Modes All the payments shall be made by cheque or through bank transfer only.
Request Delivery After completion of MMI Tenure and all payments Customer can request for the delivery of their GOld

Please Note: To invest through Gold Build Plan you have to be a registered customer of Goldsikka Register here for free

CARAT LOAN (GRP) TERMS & CONDITIONS

STEP 1

1. The Customer confirms to have fully read and understood the various Terms and Conditions of Sale plans offered by the Company and based thereon, the Customer has requested/selected to avail the Loan under the Carat Loan (Gold Reclamation plan) with terms and conditions as mentioned in Sale Placement Application & Contract Form.

2. The amount is based on the weight, purity and existing market value of the Gold.

3. The Company will make only a preliminary verification of the Gold and the Company has the right to further check the purity / weight of the Gold internally or by experts at any point of time if required.

4. The Customer confirms that the stones fixed in the pledged gold ornaments/items, if any, do not have any market value and that the said gold ornaments /items is/ are the absolute and unencumbered property of the Customer and no other person has any right, title, or claim thereon.

5. The Processing fee will be charge Rs.50/- per gram.

6. The loan should not be utilised for any illegal or unlawful activities.

7. Under this Sale Plan, MINOR CANNOT BECOME AN APPLICANT/MEMBER.

8. The Carat Loan plan is unique and will not be linked to any other existing or future Sale plans/ offers and is not transferable under any circumstance.

9. GST and all other Govt taxes and levies which are applicable or which may become applicable shall be paid by customer at the day of Carat Loan Plan billing.

10. At the time of joining of the Carat Loan Plan, the Customer has to bring recent passport size colour photograph and documents required Pan Card, Passport, Driving Licence and any other accepted ID proof with attached copy.

STEP 2

1. The Customer confirms to have fully read and understood the various Terms and Conditions of Sale plans offered by the Company and based thereon, the Customer has requested/selected to avail the Loan under the Carat Loan (Gold Reclamation plan) with terms and conditions as mentioned in Sale Placement Application & Contract Form.

2. The loan is based on the weight, purity and existing market value of the Gold.

3. The Customer confirms that the stones fixed in the pledged gold ornaments/items, if any, do not have any market value and that the said gold ornaments /items is/ are the absolute and unencumbered property of the Customer and no other person has any right, title, or claim thereon.

4. The Processing fee will be charge Rs.50/- per gram.

5. The period of Loan is as mentioned in the Sale Placement Application & Contract Form and the Customer is required to repay the loan before the completion of loan tenure, as specified in the Sale Placement Application & Contract Form from the date of disbursement.

6. If full repayment of the loan is not made within the period of the loan (as specified in the Sale Placement Application & Contract Form) the Company shall have the right to sell .The Customer out of his/her free will, authorizes the Company to sell the Gold at any time after 2 weeks from the date of notice to the Customer at the given address and adjust from the net proceeds of such sale, all amounts, including charges, due to the Company in respect of the loan. If there is any surplus on such sale, the Company shall have the right to appropriate such surplus towards any other liability of the Customer. The net surplus, if any, after such appropriation, shall be refunded to the Customer within 30 days of the sold. In case of any shortfall after disposal of the Gold, the Company shall have the right to resort to legal proceedings against the Customer to recover the shortfall.

7. In Sale Placement Application & Contract. NO REFUND of money is allowed under any circumstances under the Carat Loan (Gold Reclamation Plan).

8. That before 5 th 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. All the payment shall be made by cheque or through bank transfer only.

9. In case of dishonour of cheque & ECS or NACH minimum bouncing charges of Rs.500/- shall be charged.

10. That, This present Sale placement bill / agreement & contract is non transferable.

11. The Carat Loan (Gold Reclamation Plan) is unique and will not be linked to any other existing or future Sale plans/ offers.

12. Under this Gold Sale Plan Indian citizens only eligible, MINOR CANNOT BECOME AN Customer.

13. That upon payment of all Minimum Monthly Installment (MMI) + processing fees and GST@3% as applicable, the company will hand over the customer gold ornament on next working day. That is on completion of the contracted period.

14. At the time of joining of the Carat Loan (Gold Reclamation Plan) and at the day of taking actual delivery of their Gold ornament, the Customer has to bring recent passport size colour photograph and documents required Pan Card, Passport, Driving Licence and any other accepted ID proof with attached copy.

15. Customer has to bring the MMI card every month while making payments. The original MMI card has to be surrendered at the time of redemption. The person, who has signed the Sale Placement Application Form, should sign on the invoice and delivery receipt at the time of redemption.

16. GST and all other Govt taxes and levies which are applicable or which may become applicable shall be paid by customer at the day of Reclamation purchase placement billing and subsequently on every payment of Minimum Monthly Installment (MMI) of the Sale placement application & contract.

17. The loan should not be utilised for any illegal or unlawful activities.

18. The pledged articles will be released to the Customer on repayment of all dues.

19. Only the person who has availed the loan has the right to get back the ornaments pledged as security after repayment of the loan.

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

21. In the event of loss of pledged Gold due to theft, burglary or for any other reasons from the custody of the Company, the liability of the Company shall be limited to replacing the lost Gold with equal net weight as mentioned in the Carat Loan (Gold Reclamation Plan) application form / Sale Placement Application & Contract Form.

22. Customer has to bring the MMI card every month while making payments. The original MMI card has to be surrendered at the time of redemption.

23. In case of change in address, loss of MMI card, the Company should be kept informed without any loss of time. The customer has to apply in writing for issue of duplicate card enclosing KYC requirements.

24. The customer signature at the time of maturity must match the registration.

25. The Company may opt to send SMS or communication in other modes reminding payment of MMI and about any other products/services of the Company or of any other entities or for conveying any information to the Customer.

26. All the general Force Majeure terms are applicable.

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

28. Subjected to Hyderabad jurisdiction only.