PNG Jewellers is one of the most trusted jewellery company in the country known for their quality and purity. It offers three different schemes for customers to invest in and purchase gold at a later date.
Suvarna Poornima Plan
PNG Jewellers offers individuals an opportunity to invest in gold with many unique benefits. PNG Jewellers offers a wide range of jewellery to choose from once the plan matures along with discounts on making charges. This jewellery installment plan offers a way to carefully plan an investment and purchase of gold.
How it works
- Register with PNG Jewellers for the Suvarna Poornima Plan by filling in an application form and making the payment for the first installment.
- You can register online or at the Suvidha counter at the PNG Jewellers store on Laxmi Road Paud Road, Camp, Hadapsar, Pune.
- You will then be given an enrollment number.
- Contribute a fixed amount every month for 11 months.
- PNG Jewellers will contribute one month’s installment to your fund in the 12th month.
- At the end of 12 months, you can buy gold jewellery for the amount accumulated.
Features and benefits
- The minimum installment amount is Rs.3,000 and in multiples of Rs.500 thereafter.
- You can choose the installment amount you wish to contribute monthly, after which this amount cannot be changed.
- PNG Jewellers offers a wide range of gold jewellery to choose from with intricate and unique designs.
- Customers under this plan get a 10% discount on making charges while redeeming the savings.
| Monthly Investment | Total Investment after 11 months | PNG Jewellers’ Contribution | Total Benefit |
| Rs.3,000 | Rs.33,000 | Rs.3,000 | Rs.36,000 + 10% off on making charges |
Eligibility
- Any individual above the age of 18 years can apply.
- At the time of redemption, the individual must present a valid photo ID such as a passport, PAN card, Voter ID or Driving Licence along with a print-out of the account details page.
- If your plan exceeds Rs.5,00,000, then a PAN card is mandatory.
Payment
To make payments every month, customers can choose from the following modes of payment:
- Net Banking
- Debit Card
- Credit Card
- Currently, there is no Electronic Clearing Service available.
- Bank and convenience charges will be borne by you.
Important Information
- You cannot purchase vedhanis, gold bars, gold coins, gold biscuits under this plan.
- The due date of your payment will depend on your date of enrollment. If you enroll on 1st May, the next installment will be due on or before 1st June.
- In case you miss a payment, your maturity amount might be affected. PNG Jewellers may also grant you a due date extension.
- If you withdraw the plan before completing 12 months, then you can purchase gold jewellery for the amount accumulated. No discounts or free installment will be applicable.
- You should redeem the accumulated value within 3 months from the maturity date.
Kuber Scheme
The Kuber Scheme offered by PNG Jewellers is a more flexible plan for the individual who wishes to save as much as they can. The plan is valid for 1 year, but customers may deposit as much as they like and as many times as they like so that they can reap the maximum benefits according to their convenience.
How it works
- Customers can register for this scheme with PNG Jewellers.
- You are given the flexibility to deposit how much you want and as many times as you like.
- After 12 months, you can purchase pure gold or silver items or ornaments that includes going coins and vedhanis.
Features and Benefits
- The minimum amount required to join this scheme is Rs.1,000 and in multiples of Rs.100 thereafter.
- The scheme has a tenure of 1 year or 12 months.
- On the day the payment is made, gold of equivalent value is credited to your account at the prevailing gold rate for that day.
- The customer is entitled to a bonus on the total amount accumulated at the rate of 8% annually.
- Customers are entitled to a 10% discount on making charges while purchasing the jewellery.
Payment
- You can make the payment at any of the PNG Jewellers branches.
- Payment can be made in the form of cash, cheques or post-dated cheques. Cheques should be in favor of “P.N. Gadgil & Sons”.
- PNG Jewellers does not accept credit card or debit card payment under this scheme.
PNG Jewellers Stores
Customers can enroll in this scheme at any of the following stores:
- Aundh store, Pune
- Satara Road store, Pune
- Sinhagad Road store, Pune
- Chinchwad store, Pune
- Bhosari store, Pune-Nashik Road
- Shankar Ghanekar Road store, Mumbai
- Bhavani Peth store, Satara
- Canada Corner store, Nashik
- VIP Road store, Solapur
Important Information
- Gold value will be credited to your account at the end of the 12 months after deducting TDS.
- The gold purchase will be inclusive of Value Added Tax (VAT).
- In case you close the account before 12 months, cash will not be refunded. The customer will be eligible to get the deposited gold in return without any discounts.
- The receipts issued with each payment is important and must be preserved.
- For bounced cheques, PNG Jewellers will cancel the deal and a penalty of Rs.100 is levied.
PNG Gold Rush
This plan is also known as Sanchayat Dhanavardhanam which is a savings scheme that allows customers to plan their gold purchase. Customers can make payments in advance and use their investment to buy gold. Under this scheme, customers can choose between three different tenures which are 12 months, 24 months and 36 months. The minimum investment required is Rs.500.
| Tenure | Monthly Contribution | Total Investment | PNG Contribution | Total Value | Purchase month |
| 12 months | Rs.1,000 | Rs.12,000 | Rs.1,000 | Rs.13,000 | 14th month |
| 24 months | Rs.1,000 | Rs.24,000 | Rs.3,000 | Rs.27,000 | 27th month |
| 36 months | Rs.1,000 | Rs.36,000 | Rs.7,000 | Rs.43000 | 40th month |
