1. Why should I enroll in Cherish Gold Plan (CGP)?
Cherish Gold Plan (CGP) is a Smart Jewellery Purchase Plan and a Product by Birla Gold and Precious Metals Limited. By enrolling yourself in CGP, you can systematically accumulate gold over a period of 11 months, in installments. Early redemption does not attract any kind of penalty or charges. You can choose your installment date as per your convenience; Company shall credit the gold grams to your account on the next working day subject to realization of payment proceeds in the BGPML Account. At the end of 11 months, you will have an averaged gold rate and accumulated gold grams. This accumulated gold gram can then be used to buy Jewellery only from the Cherishgold website or from Cherishgold-BJewelz, Co-branded Stores.
2. Are my Savings safe?
The Company is a wholly-owned subsidiary of a listed entity, hence it cannot disappear overnight. Customers have access to their account statement by way of mobile app or account login through internet. They can also view the personal details and other details, submitted during registration. We also have our internal auditors report on verification of our day to day inventory. Customers can anytime redeem the accumulated Gold grams without any penalty subject to the terms and conditions of Cherish Gold Plan (CGP).
3. What if I redeem/withdraw my accumulated gold grams before the expiry of CGP i.e. 11 months?
There is neither any lock-in period nor any penalty for premature redemption. You can withdraw/redeem at any time you want. However, you will not be eligible for the redemption benefit if you redeem before 11 months.
4. Can I have Joint account for this Product i.e. Cherish Gold Plan?
No, you cannot have a joint account for Cherish Gold Plan.
5. Are there any processing charges?
No, Account opening is free of cost.
CHERISH GOLD PLAN
6. What is the minimum enrollment amount for CGP? Can I top up my account?
Cherish Gold Plan (CGP) is a very flexible plan, As per Customers needs and requirements Birla gold offers you a suitable minimum plan. Any amount of buying other than the initial installment amount within a period of 11 months shall be treated as an Additional buying/purchase which is called as “Top Up”.
7. Can I purchase/buy gold coins against the accumulated gold grams?
Your accumulated gold grams can be used only against purchase of Jewellery from the Cherishgold website. You cannot purchase gold coins/bullion or items other than Jewellery with your accumulated gold grams.
8. How do I know whether my installment amount has been credited to my Cherish Gold Plan Account?
For each payment of installment amount, you will be provided with a transaction receipt/ confirmation at your registered Mobile Number, Email ID and also you will be able to view the statement of your accumulated gold grams through login to your CGP Account.
9. What is the Gold Purity under Cherish Gold Plan?
The Gold offered under this Product i.e Cherish Gold Plan is of '22 Karat' purity at '916' fineness.
10. How do I enroll for Cherish Gold Plan (CGP)?
To enroll for Cherish Gold Plan (CGP), you need to register yourself by filling the KYC registration form (i.e. Name, DOB, Mobile Number, Email ID, and Delivery Address) and make the payment of your first installment through available payment options on the website. After successful completion of payment you will be enrolled in CGP.
11. Is PAN card mandatory?
PAN card is not mandatory. However, in case the annual purchase amount is equal or greater than Rs.2,00,000/- (Rupees Two Lakhs Only) then self- attested copy of PAN card is required.
12. In whose favour is the Initial/ monthly payment is to be made?
Initial/Monthly payment shall be made via Cheque /DD, drawn in favour of “Birla Gold and Precious Metals Limited”.
13. How do I change/update my details which are wrongly captured / mentioned in my account?
If you need to change/update any of your details it can be done by login in your CGP account from our website www.cherishgold.com /Mobile Application or by contacting our call center.
14. Who are guardian and nominee?
Guardian is a person responsible for the account holder whose age is below 18 years and nominee is a person appointed by the account holder in case of his/her death.
15. Can I Add/change the Nominee details or change the address during the tenure?
Yes, you can update/change the nomination details or address during the tenure of plan.
16. What should I do if my customer ID has not been generated?
If your customer ID has not been generated within 2 business days of submitting the application, then it is likely that your installment amount is not yet credited in our bank account. Please get in touch with our customer service team.
17. What is NACH?
NACH means National Automated Clearing House which is offered by National Payment Corporation of India (NPCI) with the approval of Reserve Bank of India.
18. What are the different payment modes available?
· Customer can pay the monthly installment through Cash /Online/NEFT/NACH/Post Dated Cheques (PDC).
· Payment via Credit card and Debit card is accepted.
· Payment can be collected at your doorstep in the form of Cheque or Cash through authorized agents of the Company.
· Payment in form of Cheque or Cash can be deposited at any nearest Company’s Bank Account.
· Payment can be submitted at any nearest authorized collection center.
· Payment can be done through Internet Banking.
19. Can I issue Post Dated Cheques of multiple banks at the time of enrollment in the Product i.e. Cherish Gold Plan?
You can issue Post Dated Cheques of a maximum of 2 banks at the time of enrollment in the Product. For example: if you have chosen tenure of 11 months and wish to give 5 cheques of one particular bank account then you can issue the remaining 6 cheques of one more bank account.
20. What will happen in case my NACH/Cheque gets rejected/bounce in any month?
We will not be able to allocate gold grams to you until we receive the installment amount. Further, you will not be eligible for redemption benefits if you make late payment for any 3 (three) EMI or if any monthly installment remains overdue for a period of two consecutive EMI.21. When the gold grams will be allocated in Customer’s Account, after the payment of monthly installment amount?
Gold Grams up to three decimal points rounded down shall be credited to your account on the next working day subject to realization of payment proceeds in the BGPML Account.22. Can I transfer/gift my existing plan?
No, Plan cannot be transferred /gifted to any other party.
23. What is the jurisdiction for any dispute regarding the Cherish Gold Plan?
The Jurisdiction is in Mumbai, Maharashtra.
24. Can I enroll in multiple Cherish Gold Plans?
Yes, you can enroll in multiple cherish gold plans. You will be provided with different Customer ID for each new plan.
25. Can I encash during the tenure of plan? Or can I get the refund of the installment amount paid?
The monthly installment once paid is non-refundable. Cash refund is not possible under the Cherish Gold Plan.
26. Can I change monthly installment amount after enrollment?
Once the monthly installment amount is defined in the form and paid then you cannot change the monthly installment amount. However, you can make additional payment through “Top Up”.
27. Can I customize the Jewellery design of my own?
No, Customer shall select the Jewellery designs available at www.cherishgold.com.
28. What if the customer dies during the tenure of the Cherish Gold Plan (CGP)?
Account/Customer ID is transferable only to the nominee, if any, appointed by the customer at the time of opening the account or to any Legal Heir subject to the compliance of the Terms and Conditions.
29. Can I change Payment mode during the tenure of the plan?
Yes, you can pay your monthly installment or top-up by any of the available payment options.
30. On receipt of the Jewellery, Can I Exchange the same? If yes, within how many days?
Yes, Jewellery can be exchanged after it’s delivered as per the terms and conditions of the Exchange Policy.
31. When Redemption Benefits can be availed?
Redemption Benefit can be availed when the Customer has successfully completed the tenure of Cherish Gold Plan. It is available on Gold, Diamond Jewellery or Mix of both, Gold and Diamond Jewellery. However, Redemption benefit is not available, if the Customer opts for 22 Karat Coin Shaped Gold Pendant Jewellery. The Benefit would be an adjustment in the making charges, as described in the terms and conditions.
32. Does company verify address before delivery?
Address is verified before the delivery by calling at your registered mobile number.
33. Do you provide Certified Jewellery?
All the Gold and Diamond Jewellery are Hallmarked Certified & all the diamonds sold on cherishgold.com are certified by the authorized diamond laboratory such as IGI, SGL, DGLA.
34. Can I purchase/buy Diamond Jewellery against accumulated gold grams?
Accumulated Gold grams can be adjusted against the purchase of Diamond Jewellery.
35. Is there a prescribed TAT which shall be followed for delivery of Jewellery?
The approximate delivery TAT can be tracked at our website www.cherishgold.com which is defined based on the available pin code of the location.36. Can I purchase Jewellery which requires more gold grams as compared to the accumulated Gold grams?
You can purchase Jewellery of higher Gold grams than the accumulated Gold grams by paying the additional amount of difference in gold grams.
37. Can I encash the balance Gold grams after adjustment of making charge against the Jewellery?
No, 22 Karat Coin Shaped Gold Pendant Jewellery equivalent to the balance Gold Grams is issued and is delivered to your registered address along with your chosen Jewellery.
38. How can I track the shipment of Jewellery?
An SMS containing the Airway Bill Number (AWB No.) will be sent to you on your registered mobile number that you need to enter on the website www.cherishgold.com to track your Jewellery shipment.
39. Can I redeem the accumulated gold grams in installments?
Accumulated grams of gold shall mandatorily be redeemed at a time within 15 days from the maturity date.
40. What if the customer is not reachable and company is not able to contact him/her after completion of the tenure of the Plan?
If the Customer doesn’t redeem the product or provide any redemption preference, within 15 days from the maturity date, then a default order for gold Jewellery i.e. Coin Shaped Gold Pendant of 22 Karat will be executed, on behalf of Customer, which will be equivalent of accumulated gold grams after adjusting all the charges and dispatch the same to the customer’s registered address.
41. What are the taxes to be paid?
You have to pay applicable taxes such as GST/CGST
42. On completion of tenure of CGP, what are the charges levied other than making charge?
Other than making charge, taxes and delivery charge are applicable.
43. Are there any Pre-termination charges?
There are no Pre-termination charges.
44. What do you mean by Referral? How do I Refer?
Referral means a person referred or recommended to us, who may or might be interested to enroll in CGP. You can refer any such person through your Account Login, Mobile Application, SMS, What’s app and also to your Relationship Manager.
45. How do I Earn Referral Reward Points and How are they calculated?
Referral Reward Points will be earned based on the activity of referrals that have been determined to be part of your Referral Network and they are non-transferrable. Referral Reward Points will be calculated on the basis of monthly installment amount received less applicable taxes.
46. What is the validity of Referral Reward Points?
You can redeem referral reward point at any time during the tenure of CGP. Referral Reward Points are valid for 1 (One) Year from the date of redemption of CGP.
47. Up to what level will I be able to view the Referral Reward Points?
You can view your referral reward points up to 5th Level. Detailed Customer information will be provided to you for 1st Level only. You will be able to view number of person/customers and amount for the customers on the rest of the levels.
48. What all service/ facility will I get from Relationship Manager?
Relationship Manager will help you to convert your references to CGP customers and guide you in case of any query.
49. What is value of Referral Reward point?
The Value of 1 Referral Reward point is equal to 1 Rupee on wwwcherishgold.com, which can only be used to redeem in Jewellery (Gold Jewellery, Diamond Jewellery or 22 Karat Coin Shaped Gold Pendant Jewellery).
50. Can I encash Referral Reward points?
No. Referral Rewards points cannot be en-cashed. It is mandatory to redeem them in the form of Jewellery (Gold Jewellery, Diamond Jewellery or 22 Karat Coin Shaped Gold Pendant Jewellery)
51. Is there any limitation to refer customers directly/under 1st Level?
You can refer as many customers as you want to on 1st Level. There is no limitation as long as your CGP is active.
52. Can I redeem Referral Reward points partially?
Yes. Referral Reward points can be redeemed partially till the time CGP is active.
53. On renewal of CGP, if new Customer ID is generated by mistake then what is to be done?
Instead of renewal of CGP, if new Customer ID is generated then you will not be able to get the future Referral Reward points benefit of existing customer ID. If the same is informed to the Company within 7 days of new Customer ID generation, Company will merge your new ID with the old.