Our gold ornament section provides for a unique advantage to the customers as well as members which is one of its kind in India. The ornament sold is tested in a machine for the purity of gold content in the ornament and accordingly the billing happens. The customer is charged the gold rate declared on that day only for the gold content in the ornament and rest of the other metals blended in the ornament for the stability of the ornament will be charged at their respective prevailing market rates. Further, there is no wastage charges for the customer and the institution retains only 2% as their margin after providing for ornament making charges paid for Goldsmith. Similarly the silver ornaments carry purity of 80% against the market practice of around 40% to 60% purity.
The customer has the option of small saving scheme “SAMRUDDHI GOLD SAVING SCHEME” where in the customer has the option of contributing on a monthly basis a small amount starting from as low as Rs 500 towards gold purchase and the gold gets purchased at the rate prevailing on that day making gold purchase as good as an SIP, thus making the gold purchase over the period at lower cost by averaging out method. This helps the members to plan for their children’s wedding well in advance and reduces the burden to a large extent. The tenure varies from 24 months to 6 years and the contributor to the saving scheme is given additional SB interest rate on his entire contribution by the end of the period.