Harsahaimal Shiamlal floats jewellery scheme with 0% interest for pandemic-ravaged market

Tough times require excellent solutions, and that is what Harsahaimal Shiamlal Jewellers has adopted with their latest jewellery purchase scheme titled ‘Jewel Easy’. The scheme helps the customers buy their favourite jewellery with a unique relaxation during these tough times.

Under the scheme, customers can buy the jewellery on the same day and pay in Equity Monthly Installment (EMI) at 0% interest. To avail this offer, the customer will have to pay a one-time processing fee of Rs 6500 with 18% GST. The scheme, which is valid on all kinds of jewellery, offers protection to customers from gold rate fluctuations.

Giving more details about the scheme, Ankur Anand, Director, Harsahaimal Shiamalal Jewellers, Lucknow, said, “We launched the scheme after the second lockdown as a lot of the customers have preponed their marriages. This has put a lot of pressure on the families to buy gold jewellery on an urgent basis. So, we tied up with a city-based financial institution to create the scheme.”

As per the scheme, the customer has to pay a minimum amount of Rs 5,000-7,000 and can choose an EMI period of either 6 months or 9 months. The customer also has to pay the first installment before taking product delivery and submit a copy of PAN Card, address proof, 3-6 months of bank statement and the latest salary slip or ITR, for that matter. Thereafter, the loan gets sanctioned in 4-5 hours.

Harsahaimal Shiamalal Jewellers is doing social media campaigns, radio campaigns and newspaper advertisements to promote Jewel Easy and is getting a fantastic response, as most of the clients have already enrolled for the scheme in the past couple of months. According to Ankur, the best responses are from wedding jewellery clients and the gifting jewellery category. “Apart from existing customers, at least 3-4 new customers are visiting the store daily to inquire about the scheme,” said the retailer.

Written by Manoj Chakraborty

RJ exclusive