Saving Scheme

Saving Schemes

Item Weight Wastage Excess Weight Excess Wastage
Chain 16g 6% 10g 10.80% Wastage for the excess weight
Casting Necklace 24g 14% - -
Total weight 40 g - -


In ‘My Gold’ Saving Scheme the customer should pay according to the 22-carat gold rate on that particular day. Which will be credited in their account in terms of gold weight (i.e. 0.500gm, 1gm ,2gm,4gm or 8gm) the weight has to be fixed by the customer in the first month and should be paid continuously for 11 consecutive months. The weight cannot be changed under any circumstance.

The amount will be fixed as per the 22-carat rate on that particular day. The payment can be made by cash/cheque (payable at Chennai in favour of “Saravana Stores Thanga Nagai Maligai) or through Debit/Credit card /Paytm. The customer can also pay through our mobile app or online (

The customer can collect their 916 jewellery on successful completion of the 11th month installment, without any wastage after 30 days.

The eligibility will get postponed by the number of months they have defaulted to pay. The customer who discontinues this saving scheme in between will not be given any benefit of wastage.

While joining this saving scheme (for 8gms), the customer has to produce Xerox copy of their PAN card.

After the Maturity period if the purchased gold ornaments have different wastage and inseparable excess gold weight, the customer should pay the average wastage for excess gold weight.

If the jewels purchased by the customer is less than the maturity weight then the balance wastage will neither be adjusted nor refunded. Cash will not be refunded under any circumstance.

No interest will be paid for your money. The customer cannot purchase platinum, silver and gift articles under this scheme.

Ornaments with precious stones, pearl and coral will be charged extra. Making charges for special Nagas ornaments has to be borne by the customer.

The customer should ensure that their payments are correctly entered in the Passbook, which should be produced at the time of purchase.

The Management has the right to take any decision on its own, at any time without any prior notice.

The applicable GST has to be fully borne by the customer. In case of increase in taxes or introduction of new levies/taxes, the same shall be fully borne by the customer.

All disputes are subject to the jurisdiction of the competent courts in Chennai.

I have read the Above mentioned terms & conditions