Digisilver Scheme

Thangamayil Jewellery Limited, offers the Thangamayil Digisilver scheme ("the Scheme") to its customers through the Thangamayil DigiGold Application. The user agrees to the Terms and conditions for The scheme are as below and those included in the Terms of Use of the Mobile Application.

1. Eligibility

"To be eligible to join the Scheme, you must fulfil the following criteria:

1.1. You must be an Indian citizen with a valid Permanent Account Number (PAN) issued by the Income Tax Department of India.

1.2. You must be at least 18 years of age and have the capacity to enter into a legally binding contract.

1.3. You must be registered and have an active user account in Thangamayil DigiGold Mobile Application

1.4. You must have a valid and active bank account with any recongnized bank in India.

1.5. You must have a valid and active mobile number and email address registered with the Scheme.

1.6. You must agree to comply with all the terms and conditions of the Scheme and the Thangamayil DigiGold Mobile Application."

2. Joining Scheme

"2.1. The user can join Thangamayil Digisilver scheme only on the Thangamayil DigiGold Mobile Application

2.2. User must provide all KYC details which is requested in the scheme joining form and confirm that the Name registered in the APP has a valid ID proof for the purpose of authenticating at the time of redemption or purchase.

2.3. The user has joined the scheme only after the user has paid for the first time into the scheme and the amount credited to Thangamayil Jewellery Limited Bank Account.

2.4. Additionally, the user is allowed to join multiple Thangamayil Digisilver accounts. After the 75 days of existing scheme, a customer can join in new Digisilver scheme."

3. Duration (Tenure)

3.1. The duration (tenure) of the Thangamayil DigiSilver scheme is 330 days from the date of the first payment made. During this period, users can save in silver any number of times. The scheme will mature on the 330th day from the date of enrollment,

4. Savings

4.1. The Thangamayil DigiGold Application allows users to save and accumulate silver in digital form with Thangamayil Jewellery Limited and redeem the same as weight based silver products, subject to applicable terms and conditions.

4.2. Users may save or accumulate silver in any quantity, subject to the minimum and maximum limits specified on the Application from time to time.

4.3. The silver saved or accumulated weight will be credited to the user’s DigiSilver account and will be reflected as the user’s silver balance on the Application.

4.4. Users can make savings multiple times within the scheme during the scheme period.

4.5. The silver price displayed on the Application is applicable only for savings purposes and is subject to market fluctuations. The actual price at the time of redemption may vary from the price shown on the Application.

4.6. Payments for DigiSilver savings can be made only through the Thangamayil DigiGold Mobile Application. Payments through any other mode will not be accepted.

4.7. After scheme maturity, users cannot make further payments or save additional silver under the same DigiSilver scheme account. However, users may join a new scheme if they wish to continue saving.

4.8. Users can view their silver balance and transaction details on the Application. A confirmation will also be provided for every successful savings transaction.

5. Benefits

"5.1. Users will be eligible for benefits after date of maturity based on the following Slab-based benefit system as taken from the date of joining

SLAB BASED BENEFITS

• 5% for the first term of 75 days (from day 1 to 75th Day)
• 3.75% for the second term of 75 days (from 76th to 150th Day)
• 2% for the third term of 75 days (from 151st to 225th Day)
• 0.75% for the fourth term of 75 days (from 226th to 300th Days)

5.2. No benefits will be offered for payments made during the final 30 days of the scheme period.

5.3. Benefits are credited as Silver weight to the user’s account on the date of each payment.

5.4. User will be able to buy weight based silver products as mentioned in the terms. The user will get benefits only if the user redeems their account after maturity; otherwise, the user will not be eligible to claim the benefit silver weight."

6. Redemption

"6.1. Users can redeem their saved silver weight on weight based silver products from Thangamayil Jewellery Limited, subject to the terms and conditions.

6.2. There is a minimum lock-in period of 30 days, during which users cannot redeem their savings.

6.3. Redemption requests can be initiated only through the DigiGold Application and by visiting a Thangamayil Jewellery showroom to buy the jewellery.

6.4. Redemption of the saved Silver weight can be done at any of Thangamayil Jewellery retail showrooms or Online by sending email to [email protected]

6.5. The saved Silver weight can be only redeemed as silver Kolusu, Thandai, Metti, Aruna kodi, Silver vessels (Example similar as plate, tumler, spoon etc..), Articles - (Example similar as Pooja weight items, weight based God statues), Vilaku - (Example similar as, Kuthu vilaku, agal vilaku etc….), Coin, Bars which are weight based silver products, redemption of gold products and Silver Jewellery and Gifts (SJG) are not allowed in this scheme. The weight of the silver products or coins will be equal to the saved silver weight in the user's account.

6.6. Users must pay for any value-added charges such as wastage charges, making charges, stone charges, and hallmark charges, if applicable.

6.7. Users are solely responsible for any taxes or duties that may be applicable on the purchase or redemption of Silver through the Application.

6.8. Only the person whose name that was used at the time of registration can redeem the scheme. They must submit original identification proof such as Aadhaar, PAN, driving license, or voter ID at the time of redemption.

6.9. Users must redeem their scheme within 35 days from the date of maturity. Failure to do so will result in the scheme being terminated, and the saved silver weight will not be available for redemption.

6.10. The saved silver weight “with benefit” can only be redeemed after the scheme has matured.

6.11. If the saved silver weight is not redeemed within 365 days from the date of the first investment, Thangamayil Jewellery Limited will refund the amount paid by the user through online bank transfer or cheque to the registered address of the user. No cash refunds will be allowed.

6.12. For transaction over Rs. 1.95 Lakhs, users will be required to submit their PAN as per the prevailing income tax regulations. A PAN copy will also be required at the time of redemption for investments over Rs. 2 Lakhs.

6.13. Thangamayil Jewellery Limited reserves the right to modify or amend the redemption terms and conditions at any time without prior notice.

6.14. Redemption: Customers are required to redeem their DigisilverScheme before it crosses 365 days from the date of joining as per government norms.

6.15 Redemption of silver products, including BEU, Zilara, Lakshamam, Punnagai, and Silver Jewellery and Gifts (SJG) will be calculated only based on the total amount paid by the customer and not on the saved silver weight. These products can be purchased only at the fixed price and weight will not be calculated or the applicable redemption value will be determined by Thangamayil as per the prevailing terms and conditions at the time of redemption."

7. Online Redemption and Delivery

"7.1. Redemption: Users can redeem their saved silverweight as Kolusu, Thandai, Metti, Aruna kodi, Silver vessels (Example similar as plate, tumler, spoon etc..), Articles (Example similar as Pooja weight items, weight based God statues), Vilaku (Example similar as, Kuthu vilaku, agal vilaku etc….), Coin, Bars which are weight based silver products saved through the Thangamayil DigiGold mobile application. The saved silver weight can be redeemed only after the lock-in period of 30 days has been completed.

7.2. Eligibility: Only the person whose name was used at the time of registration can redeem the saved silver weight. Users must submit original identification proof such as Aadhaar, PAN, driving license, or voter ID at the time of redemption.

7.3. Redemption Availability: Users can redeem weight based silver products based on terms available for purchase through the savings in the Thangamayil DigiGold mobile application.

7.4. Delivery Availability: Thangamayil Jewellery Limited will deliver the purchased product to the user's registered address through their courier partner. The delivery time may vary depending on the location of the user's registered address. Please note that shipping charges will be applicable for online purchases.

7.5. Value-added Charges: Users must pay for any value-added charges such as wastage charges, marking charges, stone charges, and hallmark charges, if applicable. These charges will be clearly mentioned in the product description.

7.6. Cancellation and Refunds: Users can cancel their order before it is dispatched. In case of any defects or damage to the product during the delivery, users can request a return or refund within 7 days of the delivery date. Thangamayil Jewellery Limited will inspect the product and issue a refund to the user's original payment method if the return is approved.

7.7. Applicable Laws: All online redemptions and deliveries will be subject to the prevailing laws of India, and any dispute or claim arising out of or in connection with such redemptions and deliveries will be subject to the exclusive jurisdiction of the courts in India.

7.8. Modification of Terms: Thangamayil Jewellery Limited reserves the right to modify these redemption and delivery terms at any time. Users will be notified of any such modifications through the Thangamayil DigiGold mobile application. By using the Thangamayil DigiGold mobile application to redeem and purchase weight based Silver products, users acknowledge and agree to the above redemption and delivery terms."

8. Refund

"Thangamayil DigiSilver Scheme offers customers the option to redeem their silver investment after lock in period at any time. However, there is no refund of the investment amount paid by the customer or it is subject to the terms and conditions as mentioned in the Terms of Use of the Mobile Application Note: Customers are advised to carefully read and understand the terms and conditions before joining the Digisivler Scheme. Thangamayil reserves the right to modify or alter the refund policy without any prior notice."

9. Disputes

9.1. In case of any Dispute(s)/Difference(s)/Claim(s) arising out of these terms and conditions shall be resolved by the arbitration by the arbitrator(s) nominated by the Chamber Arbitration Tribunal (ChaAT), Madurai, Established by Tamilnadu Chamber Of Commerce & Industry, Madurai and administered by Tamilnadu Chamber Foundation, Madurai and Chamber Artbiration Tribunal (ChaAT) rules, 2007 shall prevail. Both the parties agree that the Arbitral awards so rendered by ChaAT shall be binding on them, The proceedings shall be in favour of english or tamil or both and the venue shall be at Madurai.