Swarna Labh / Swarna Yojana / Swarna Vridhi / Swarna Soubhagya T&C
Swarna Soubhagya
1. The scheme tenure is 11 months, with a minimum enrolment amount of ₹12,000
2. The enrolment amount must be in multiples of ₹1,000
3. Equivalent quantity of gold in 22K will be booked at the prevailing gold rate as on the day of paying instalment.
4. Total accumulated gold will be converted into value at average gold rate of accumulation at the time of redemption.
5. If the prevailing gold rate on the day of invoice, is lower than the average gold rate of accumulated gold, customers will be charged with lower gold rate.
6. This scheme cannot be clubbed with any other ongoing offers, promotions, or discounts.
7. Other category of scheme (Swarna Labh, Swarna Yojana & Swarna Vriddhi) cannot be clubbed with Swarna Soubhagya scheme at the time of redemption.
8. Two different Swarna Soubhagya account can be clubbed [subject to both accounts are in same customer ID] but the benefit of one account can be extended at the time of redemption.
9. Instalment can be paid at stores only and the prevailing gold rate of origin store will be applicable at the time of instalment payment.
10. NACH is not possible for this scheme.
11. Additional Benefit at the time of Redemption
(i). Gold Jewellery & Gold Bullions (Coins, Bars & Beans): Upto 15% less making charge.
(ii). Diamond Jewellery: 100% discount in Making Charge & 10% discount on Diamond value
(iii). Solitaire Diamond Jewellery: 50% discount in Making Charge & 5% discount in Diamond value.
(iv). Loose Diamond: 5% discount in Diamond value
(v). Polki Jewellery: 30% discount in Making Charge & 20% discount in Polki Value.
(vi). Unstudded Platinum Jewellery: 30% discount on Making Charge.
(vii). Studded Platinum Jewellery: 30% discount on Making Charge & 10% discount on Diamond value.
(viii). Silver Jewellery: 10% discount on Making Charge (not applicable on Silver Bullions).
(ix). Gemstone Jewellery: 5% discount on Stone value.
12. Scheme benefits shall be applicable only up to the quantity/value of gold accumulated under the scheme. If the customer purchases gold jewellery exceeding the eligible scheme gold weight/value, the excess quantity/value shall be charged at the prevailing gold rate along with normal making charges. No additional scheme benefits or offers shall be applicable on the excess weight/value.
13. Scheme benefits may be applied if any part of the scheme amount is utilised in case of Diamond Jewellery purchase. Any diamond jewellery which is not covered by the scheme amount, even in parts, is not eligible for scheme benefit.
14. Payment of instalments after due dates will be considered as a default, for that months and the eligible discount would be reduced proportionately.
15. Early Exit / Pre-Maturity:
(i). Gold Jewellery:
(a). Before 6 months: Only average gold rate benefits applicable. (Current store offers applicable in all categories).
(b). After 6 months: Customer will get average rate benefit & 20% discount in making charge (not applicable in gold coin).
(ii). Diamond Jewellery: 50% discount in Making Charge & 5% discount on Diamond value.
(iii). Polki Jewellery: 20% discount in Making Charge & 5% discount in Polki Value.
(iv). Platinum Jewellery: 15% discount on Making Charge.
(v). Studded Platinum Jewellery: 15% discount on Making Charge & 5% discount on Diamond value.
(vi). Silver Jewellery: 10% discount on Making Charge (not applicable on Silver Bullions).
(vii). Gemstone: 5% discount on Stone value.
Swarna Labh
1. This is a value deposit scheme only; no gold is booked at the time of instalment payment.
2. The applicable gold rate will be the rate prevailing on the date of the sales invoice.
3. The scheme tenure is 6 months, with a minimum enrolment amount of ₹1,000
4. Upon redemption of the scheme, customers will receive a benefit equivalent to 30% of one instalment.
5. The enrolment amount must be in multiples of ₹1,000
6. Instalments can be paid through mysenco.in or any Senco retail store, and redemption can be done at any Senco retail outlet.
7. Customers must maintain the same instalment amount throughout the scheme tenure.
8. Customers must complete the scheme successfully without any default or delayed payment to avail the benefit.
9. Customers must mandatorily redeem the account within 60 days from the date of maturity.
10. Instalments paid after the due date will be treated as default for that particular month, and the eligible benefit will be reduced proportionately.
11. Scheme benefits will be applicable only when both of the following conditions are met:
(i). The scheme must be operated for a minimum of 6 months.
(ii). At least 6 instalments must be paid to the company.
12. Gold or silver bullion products (coins, bars, and beans) cannot be purchased by redeeming this scheme.
13. New scheme enrolments and ongoing scheme payments can be made only through Senco retail outlets, the mysenco.in portal, or the MySenco app.
Swarna Yojana
1. This is a value deposit scheme only; no gold is booked at the time of instalment payment.
2. The applicable gold rate will be the rate prevailing on the date of the sales invoice.
3. The scheme tenure is 11 months, with a minimum enrolment amount of ₹1,000
4. Upon redemption of the scheme, customers will receive a benefit equivalent to 75% of one instalment.
5. The enrolment amount must be in multiples of ₹1,000
6. Instalments can be paid through mysenco.in or any Senco retail store, and redemption can be done at any Senco retail outlet.
7. Customers must maintain the same instalment amount throughout the scheme tenure.
8. Customers must complete the scheme successfully without any default or delayed payment to avail the benefit.
9. Customers must mandatorily redeem the account within 60 days from the date of maturity.
10. Instalments paid after the due date will be treated as default for that particular month, and the eligible benefit will be reduced proportionately.
11. Scheme benefits will be applicable only when both of the following conditions are met:
(i). The scheme must be operated for a minimum of 6 months.
(ii). At least 6 instalments must be paid to the company.
12. Gold or silver bullion products (coins, bars, and beans) cannot be purchased by redeeming this scheme.
13. If redemption is requested before scheme maturity, the applicable benefit will be as per the Swarna Labh scheme Terms & Conditions.
14. New scheme enrolments and ongoing scheme payments can be made only through Senco retail outlets, the mysenco.in portal, or the MySenco app.
Swarna Vriddhi
1. This is a value deposit scheme only; no gold is booked at the time of instalment payment.
2. The applicable gold rate will be the rate prevailing on the date of the sales invoice.
3. The scheme tenure is 18 months, with a minimum enrolment amount of ₹1,000
4. Upon redemption of the scheme, customers will receive a benefit equivalent to 150% of one instalment.
5. The enrolment amount must be in multiples of ₹1,000
6. Instalments can be paid through mysenco.in or any Senco retail store, and redemption can be done at any Senco retail outlet.
7. Customers must maintain the same instalment amount throughout the scheme tenure.
8. Customers must complete the scheme successfully without any default or delayed payment to avail the benefit.
9. Customers must mandatorily redeem the account within 60 days from the date of maturity.
10. Instalments paid after the due date will be treated as default for that particular month, and the eligible benefit will be reduced proportionately.
11. Scheme benefits will be applicable only when both of the following conditions are met:
(i). The scheme must be operated for a minimum of 6 months.
(ii). At least 6 instalments must be paid to the company.
12. Gold or silver bullion products (coins, bars, and beans) cannot be purchased by redeeming this scheme
13. If redemption is requested before scheme maturity, the applicable benefit will be as per the Swarna Yojana scheme Terms & Conditions.
14. New scheme enrolments and ongoing scheme payments can be made only through Senco retail outlets, the mysenco.in portal, or the MySenco app.
Note:-
(i). The Company can withdraw or alter the offer without prior notice at any given time, and the decision of the Company shall be final.
(ii). Any matter/claim/dispute arising out of the transaction will be subject to Kolkata jurisdiction only.
(iii). Any conditions which are not explicitly covered would be at the sole discretion of the Senco Gold Ltd (“Company”). The decision of the Company is final.
Frequently Asked Questions
What savings schemes does Senco Gold & Diamonds offer?
Senco offers four jewellery purchase schemes — Swarna Labh, Swarna Yojana, Swarna Vriddhi and Swarna Soubhagya. Swarna Labh, Yojana and Vriddhi are value-deposit schemes, while Swarna Soubhagya books an equivalent quantity of 22K gold at the time of each instalment.
What is the tenure of each Senco gold scheme?
Swarna Labh runs for 6 months, Swarna Yojana and Swarna Soubhagya for 11 months, and Swarna Vriddhi for 18 months.
What is the minimum instalment for Senco gold schemes?
The minimum enrolment is ₹1,000 for Swarna Labh, Swarna Yojana and Swarna Vriddhi, and ₹12,000 for Swarna Soubhagya. All instalments must be in multiples of ₹1,000.
What benefit do I get when I redeem a Senco scheme?
On successful completion you receive a benefit equal to 30% of one instalment for Swarna Labh, 75% for Swarna Yojana and 150% for Swarna Vriddhi. Swarna Soubhagya instead gives an average gold-rate advantage plus making-charge and diamond-value discounts at the time of redemption.
Is gold booked when I pay an instalment?
Only in Swarna Soubhagya, where an equivalent quantity of 22K gold is booked at the prevailing rate on each instalment date. Swarna Labh, Yojana and Vriddhi are value-deposit schemes, so the applicable gold rate is the rate on the date of the sales invoice.
How is the gold rate calculated in Swarna Soubhagya?
Accumulated gold is valued at the average gold rate over the deposit period. If the prevailing rate on the invoice date is lower than that average, the lower rate is applied, so you always receive the more favourable rate.
How soon must I redeem after the scheme matures?
You must redeem your account within 60 days of the maturity date to remain eligible for the scheme benefit.
What happens if I miss or delay an instalment?
A late or missed instalment is treated as a default for that month, and the eligible benefit is reduced proportionately. For the value-deposit schemes, benefits apply only if the scheme runs for at least 6 months and at least 6 instalments are paid.
Can I exit a Senco scheme before maturity?
Yes. For Swarna Yojana and Swarna Vriddhi, early redemption is settled under the Swarna Labh and Swarna Yojana terms respectively. Swarna Soubhagya has defined early-exit benefits — an average-rate benefit before 6 months and an additional making-charge discount after 6 months.
Where can I enrol in a Senco scheme and pay instalments?
New enrolments and instalments can be made at Senco retail outlets, on the mysenco.in portal, or via the MySenco app. Swarna Soubhagya instalments must be paid at stores, and the origin store's prevailing gold rate applies.
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