Savings Scheme Policy

Welcome to the Arna Savings Scheme program. This policy governs your participation in our gold and jewellery savings schemes. By enrolling in any scheme, you agree to abide by these terms and conditions.

1. Scheme Enrollment

• Schemes are available for registered users of Arna App only.
• Minimum age for scheme enrollment is 18 years.
• Users must complete KYC verification before enrolling in high-value schemes.
• Scheme details including duration, payment amount, frequency, and benefits are displayed at the time of enrollment.
• Enrollment is complete only after making the first payment as per the selected scheme.

2. Scheme Types & Duration

• Various scheme options are available with different durations and payment frequencies.
• Scheme duration ranges from short-term to long-term plans as per customer preference.
• Flexible schemes are designed to suit different budget requirements.
• Each scheme has specific start and end dates mentioned at enrollment.
• Custom schemes with specific requirements are available on request.

3. Payments & Due Dates

• Scheme payments must be made as per the selected payment frequency.
• Payment due dates are fixed according to the scheme terms and cannot be changed after enrollment.
• Payments can be made through online payment methods only.
• Late payments may attract penalty charges as per scheme terms.
• Missed payments for consecutive periods may lead to scheme termination.

4. Bonus & Benefits

• Bonus gold/silver is provided upon successful scheme completion.
• Bonus percentage varies based on scheme duration and amount.
• Bonus details are clearly mentioned at the time of enrollment.
• No bonus is provided for schemes terminated before completion.
• Bonus is calculated on the total scheme value at completion.

5. Scheme Completion & Redemption

• Scheme is considered complete only after all payments are made.
• Upon completion, users can redeem the scheme value for:
  • Physical gold jewellery of equivalent value
  • Gold coins/bars of equivalent weight
  • Silver products (converted value)
  • Digital gold/silver credit
• Redemption must be completed within 90 days of scheme completion.
• Making charges and wastage apply for jewellery redemption as per prevailing rates.
• Physical store visit is mandatory for scheme redemption.

6. Early Withdrawal & Termination

• Early withdrawal from scheme is allowed with applicable charges.
• Withdrawal charges range from 5-15% of paid amount, depending on scheme duration.
• No bonus is provided for early withdrawals.
• Terminated schemes can be reactivated within 30 days by paying outstanding amounts with penalty.
• After 30 days of termination, the scheme will be closed permanently.

7. Gold Price & Valuation

• Scheme completion value is calculated based on gold price at redemption time.
• Gold prices fluctuate daily - final redemption value depends on market rates.
• We guarantee the weight/value paid, not the monetary value at enrollment.
• For jewellery redemption, valuation includes making charges and wastage.

8. Payment Default & Consequences

• Payment default for consecutive periods leads to scheme suspension.
• Defaulted schemes can be revived within 15 days with penalty payment.
• After 30 days of default, scheme will be terminated automatically.
• Terminated schemes receive only 85% of paid amount (after deducting charges).
• Refund for terminated schemes is processed within 15 business days.

9. Transfer & Nomination

• Schemes are non-transferable to other persons.
• Nomination facility is available for all schemes.
• Nominee details can be updated anytime during scheme period.
• In case of unfortunate event, nominee can claim scheme value with proper documentation.

10. Scheme Modification

• Scheme terms cannot be modified after enrollment.
• Payment frequency and amounts are fixed for the scheme duration.
• Users can enroll in multiple schemes simultaneously.
• Arna reserves the right to modify scheme offerings for new enrollments.

11. Disputes & Grievances

• All scheme-related disputes will be resolved through mutual discussion.
• Unresolved disputes will be subject to jurisdiction of Tirunelveli courts.
• Grievances can be raised through app support or email.
• Resolution time: 15-30 business days depending on complexity.

12. Contact for Scheme Queries

For scheme-related queries, payments, or redemption assistance:

• Email: support@arna.com
• WhatsApp: +91-99999-99999
• Visit: Arna Showroom, Tirunelveli
• Timings: Monday-Saturday, 10 AM - 7 PM