G.R. Thanga Maligai (GRT Jewellers), established in 1964 in Chennai, is one of India’s most renowned jewellery brands. Over the years, GRT Jewellers has grown into one of the fastest-expanding companies in the jewellery industry, earning a reputation for delivering exceptional quality and exquisite designs at affordable prices. With a strong presence in cities like Chennai, Hyderabad, and Bengaluru, GRT Jewellers caters to diverse tastes and preferences, offering a wide range of meticulously crafted jewellery pieces. Their commitment to quality and affordability has made them a trusted name among customers across India. Whether you’re planning for a big occasion or looking to invest in gold systematically, the GRT gold plan offers the perfect solution. Let’s dive into the details of these GRT gold schemes and how they can help you achieve your gold-saving goals.
Types of Gold Schemes by GRT Jewellers
Check the GRT gold saving scheme, designed to help you invest in and celebrate the beauty of gold. GRT Jewellers offers various gold-saving schemes designed to help customers systematically invest in the GRT scheme. Below is a detailed overview of the GRT Gold Scheme, including its benefits, features, and terms and conditions.
| Scheme Name | Duration | Minimum Monthly Payment |
| GRT Golden Eleven Flexi Plan | 11 Months | ₹500 |
| GRT Golden Seed Savings Scheme | Flexible | Based on the selected plan |
| GRT New Golden Eleven Scheme | 11 Months | Based on the selected plan |
| GRT Golden One Flexi | Flexible | ₹500 |
Note: The details provided above are subject to change. For the most accurate and up-to-date information, including specific terms, conditions, and benefits, please refer to the official GRT Jewellers website or contact their customer support.
1. GRT Golden Eleven Flexi Plan
This 11-month scheme allows customers to make fixed monthly advance payments, facilitating the purchase of desired jewelry upon completion.
| Month | Monthly Advance |
| 1 | 10,000 |
| 2 | 10,000 |
| 3 | 10,000 |
| 4 | 10,000 |
| 5 | 10,000 |
| 6 | 10,000 |
| 7 | 10,000 |
| 8 | 10,000 |
| 9 | 10,000 |
| 10 | 10,000 |
| 11 | 10,000 |
| Total Benefits | ₹1,10,000 |
|---|
Features & Benefits of GRT Golden Eleven Flexi Plan:
- Flexible Payments: Customers can choose a monthly instalment amount starting from ₹500.
- No Wastage or Making Charges: Upon completion, customers can purchase gold jewellery without wastage or value addition (VA) charges, except for certain items like diamonds, platinum, uncut diamonds, ruby, emerald, ethnic and vintage jewellery, pooja items, silver articles, and silver jewellery.
- Passbook Provided: The bank issues a passbook to track all payments and transactions.
Terms and Conditions
| Condition | Details |
| Installment Duration | Must be paid monthly for 11 months without fail. |
| Purchase Eligibility | Jewellery can be purchased one month after completing all instalments. |
| Refunds | No cash refunds are allowed. |
| Defaulters | Full instalments must be paid to avail of discounts. The system extends purchase eligibility based on missed months. |
| Discontinuation | – Within 7 months: No discounts. – 8th-10th month: 60% discount on one month’s instalment amount. |
| Additional Charges | Wastage and making charges apply based on jewellery type. |
| Verification | The member’s signature is verified at maturity. |
| Taxes | Government taxes and VAT must be borne by the member. |
| Terms Changes | Subject to change at GRT Jewellers’ discretion. |
| Legal Disputes | Handled by courts in Chennai. |
2. GRT Golden Seed Savings Scheme
This scheme allows customers to invest in gold by making monthly installments, with the equivalent gold weight credited to their account at the prevailing rate.
Features & Benefits of GRT Golden Seed Savings Scheme:
- Protection Against Price Fluctuations: Gold price volatility safeguards investments.
- Online Payments: You can pay installments online via debit, credit, or net banking.
- Flexible Redemption: Customers can redeem the accumulated gold weight for jewelry after completing the installments.
Terms and Conditions
| Condition | Details |
| Installment Duration | Pay monthly by the 10th for 15 months. |
| Payment Location | Pay at the enrolled showroom; redeem gold from any showroom. |
| Installment Terms | Fixed installments; maturity date cannot be changed. |
| Dishonoured Cheques | The gold rate on realization date applies; missed payments extend maturity. |
| Redemption | Redeem the full accumulated gold one month after the final instalment. |
| Refunds | No cash refunds are allowed. |
| Gold Rate | Based on the redemption date’s gold rate. |
| Combining Offers | It cannot be combined with other offers. |
| Excess Gold Purchase | Pay wastage and cost difference for purchases exceeding accumulated gold. |
| Wastage Over 18% | Customers pay extra wastage charges for plain gold over 18% wastage. |
3. GRT New Golden Eleven Scheme
Similar to the Golden Eleven Flexi Plan, this scheme requires 11 monthly installments, allowing customers to purchase their desired jewellery upon completion.
Features & Benefits of the GRT New Golden Eleven Scheme:
- No Making Charges: Customers can purchase jewellery without making charges.
- No Wastage Charges: They do not apply any wastage charges, making it a cost-effective option.
- Simple Enrolment: Customers can join by filling out a simple form.
Terms and Conditions:
| Category | Details |
| Installment Payment | Pay equal instalments for 11 months before the 10th of each month. You must make payments above ₹17,000 via non-cash methods. |
| Benefits and Discounts | 50% discount on Wastage (VA) for jewellery with up to 18% Wastage upon completion. People can make purchases from the 10th month or within 345 days. |
| Discontinuation Rules | No benefits for discontinuation within 6 months. Discounts on Wastage (VA) from 30% to 50% for discontinuation in the 7th–10th months. |
| Payment Methods | Pay at any GRT showroom or online via the website or app. |
| Redemption Rules | Use accumulated value/gold weight within 345 days. No cash refunds. |
| Taxes and Charges | GST and other government levies to be paid by the customer. |
| KYC and Notifications | KYC is required for enrolment and nominees. Inform GRT of address changes or receipt book loss. |
| General Terms | Full instalment payments are required to remain eligible. No combining with other offers. GRT reserves the right to modify terms. |
| Legal Jurisdiction | Disputes will be handled in Chennai courts. |
4. GRT Golden One Flexi
This flexible scheme allows customers to make monthly payments, accumulating savings over a specified period to purchase jewelry upon maturity.
Features & Benefits GRT Golden One Flexi:
- Flexible Payments: Customers can choose the instalment amount and duration.
- Potential Discounts: Benefits on making charges and wastage may be available, depending on the terms of the scheme.
- Online Management: Customers can manage their accounts and payments online.
Terms and Conditions:
| Category | Details |
| Plan Duration | 11 months, minimum enrolment ₹50,000, non-transferable payments. |
| Payment Methods | Cash (up to ₹1,99,000), DD, cards, NEFT/RTGS, UPI, cheques. Cheque dishonour charges apply. GRT showrooms, the website, or the app accept payments. |
| Purchases & Benefits | Start purchases in the 10th month, and complete within 360 days. No VA charges up to 18%. 20% VA discount on excess weight. |
| Discontinuation Rules | No benefits if discontinued within 5 months. VA discounts: 50%-80% for the 6th to 9th months, with no VA up to 18% for the 10th month. |
| Old Gold Exchange | Old gold value can be used as a one-time advance. |
| KYC & Nomination | KYC is mandatory. Nominees allowed with documentation. |
| Taxes | GST and applicable taxes borne by the customer. |
| General Rules | No interest on payments. A receipt book is required. Terms may be modified. |
| Legal Jurisdiction | Disputes resolved in Chennai courts. |
Conclusion
GRT Jewellers offers diverse and convenient gold schemes for occasions like weddings, festivals, or simply building reserves. From the monthly scheme to the 11-month plan, there’s a plan for everyone. Online payments make saving for gold easy. Begin your gold investment journey today with GRT and enjoy the lasting value of gold.
Understanding the latest gold loan trends in India, exploring types of gold, and knowing the reasons to invest in gold can help you decide whether gold rates will decrease, while also identifying the best banks for gold loans.
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