Terms and Conditions for SMG

• The customer joining this scheme must be at least 18 years old.
• This scheme allows customers to give their old gold ornaments or coins and exchange them for brand new ornaments after maturity.
• A minimum of 4 grams of 22-carat gold must be deposited to join this scheme.
• If the quality of the customer’s gold ornaments is less than 22 carats, the ornaments will be tested using a carat meter, and the equivalent weight in 22-carat gold will be credited to the customer’s account.
• While calculating the weight of gold, other elements like stones, pearls, corals, enamels, and lac in the ornaments will be excluded.
• As the customer’s old gold ornaments will be subjected to recycling, they cannot be returned under any circumstances .
• If the gold was purchased from another jewellery store, 1% of the calculated gold weight will be deducted as a handling charge. .
• As a benefit of this scheme, customers can purchase ornaments equivalent to the credited 22-carat gold weight with a 100% discount on making and wastage charges.
• If customers select gold ornaments under this scheme, they will receive a 100% discount on making and wastage charges. If the select diamond-studded gold ornaments, they will receive a 75% discount on making and wastage charges..
• If there are any sales offers available at Thangamayil branches on the day of redemption, such offers cannot be combined with the benefits of this scheme.
• The name, phone number, and address registered in the scheme cannot be changed under any circumstances. At the time of redemption, the OTP sent to the registered phone number must be provided without fail.
• To avail of the scheme benefits, customers must purchase items on the maturity date or within 35 days thereafter
• Apart from the applicable scheme benefits, if the customer purchases a product exceeding the scheme eligible weight, the wastage and making charges applicable to the additional weight shall be borne by the customer and calculated based on the prevailing price at the time of redemption.
• Since deposits are credited as gold weight, no adjustments will be allowed for fluctuations in gold prices.
• The management or staff will not be held responsible for any fluctuation in gold prices.
• If the customer wishes to exit the scheme, they may do so only after 90 days (minimum lock-in period) from the date of joining. In such cases, without any scheme benefits, they can purchase ornaments equivalent to the credited 22-carat gold weight by paying making and wastage charges. The scheme cannot be terminated before 90 days.
• Under this scheme, customers can only purchase the gold, diamond jewellery available at the showroom. Orders for other items cannot be placed.
• Under no circumstances can the amount equivalent to the credited 22-carat gold weight in your account be refunded. Redemption is only allowed in the form of gold, diamond jewellery.
• Customers availing products under this scheme must pay the government-prescribed GST.
• If the selected items include any charges such as for stones, hallmarking, or other applicable charges, customers must bear them.
• Customers must safeguard the jewellery scheme passbook provided under this scheme and must compulsorily present it while redeeming jewellery
• The duplicate passbook can be collected from the branch exactly one week after applying. After collecting it, the customer may either continue the scheme or close it and redeem items.
• The benefits of this scheme can be availed at any Thangamayil branch across Tamil Nadu by submitting the issued passbook, valid ID proof, and government-issued Aadhaar card.
• Only the person in whose name the scheme is registered is entitled to redeem the items. In case of the customer’s death, the benefits can be claimed by submitting the government-issued death certificate and legal heir certificate.
• If customers wish to purchase items beyond the accumulated 22-carat gold weight, they must pay the value of the excess weight along with applicable making charges, wastage, and GST.
• Customers must redeem ornaments equivalent to the accumulated gold weight within 35 days from the maturity date. If they fail to do so, no scheme benefits will be provided.
• This scheme will mature exactly on the 330th day from the joining date. Within 35 days from the maturity date, customers can redeem new 22-carat ornaments equivalent to the credited gold weight.