New Life Digi Gold

Acceptance of Terms

These Terms of Use ("Terms") constitute a legally binding agreement between you ("Customer", "you", "your") and New Life Digi Gold ("New Life Digi Gold", "we", "us", "our"), an RBI-registered Non-Banking Financial Company (NBFC) operating under the laws of India.

By registering for the New Life Digi Gold Loan Scheme, accessing our website or mobile application, or by making any payment under this scheme, you unconditionally accept these Terms. If you do not agree, you must not register or use our services.

We reserve the right to update these Terms at any time. Continued use of the service after any change constitutes your acceptance of the revised Terms.

Eligibility

To be eligible for the New Life Digi Gold Loan Scheme, you must satisfy all of the following conditions:

Residency: You must be a resident of Tamil Nadu, India at the time of application.
Age: You must be 18 years of age or older.
Identity: You must hold a valid Aadhaar card and a mobile number linked to it for OTP-based eKYC.
Legal capacity: You must be legally competent to enter into a binding contract under the Indian Contract Act, 1872.
Not blacklisted: You must not be under any legal order that prohibits you from availing credit facilities.

This scheme is exclusively available to Tamil Nadu residents. Applications from residents of other states will not be processed.

The Gold Loan Scheme

New Life Digi Gold offers a unique gold purchase financing scheme with the following structure:

Gold Range: Scheme covers 0.5 gram to 5 grams of BIS Hallmark certified gold per booking.
Upfront Payment: 50% of the prevailing market price of gold on the booking date is payable at the time of registration.
Balance Payment: The remaining 50% is payable in equal monthly instalments (EMIs) over a tenure agreed at booking.
Zero Interest: No interest is charged. Your total payment equals 100% of the gold's market value on booking date — split into two equal halves. No additional charges are levied on the EMI portion.
Gold Quality: All gold supplied under this scheme is BIS Hallmark certified, confirming purity as per Bureau of Indian Standards norms.
Gold Delivery: Physical gold is released upon confirmation of the 50% upfront payment — not upon completion of all EMIs.
Price Lock: The gold price, upfront amount, and EMI amounts are locked at the time of booking. Subsequent market price movements do not affect your obligations.

New Life Digi Gold reserves the right to modify, suspend, or discontinue this scheme with reasonable notice. Existing bookings at the time of any such change will be honoured under the terms in effect at the time of booking.

Registration & KYC

To register for the scheme, you must:

Create an account on the New Life Digi Gold website or mobile application using your registered mobile number.
Complete digital Know Your Customer (eKYC) verification using your Aadhaar number and OTP authentication via UIDAI-authorised channels.
Provide accurate and complete personal details including name, address, city, and PIN code.
Accept the NACH (National Automated Clearing House) mandate authorising New Life Digi Gold to auto-debit your EMIs from your designated bank account on the due date.

You are responsible for providing accurate information. Providing false, misleading, or incomplete information during KYC is a violation of these Terms and may result in immediate cancellation of your booking, forfeiture of any processing fees, and may be reportable to regulatory authorities.

New Life Digi Gold will never ask for your full Aadhaar number, OTP, password, or bank account PIN via phone, SMS, or email. If you receive such a request, do not comply and report it to us immediately.

EMI & Payment Obligations

By registering for the scheme, you agree to the following payment obligations:

EMI Amount: Fixed at booking. Each EMI equals the remaining 50% of your gold's booking value divided equally across the agreed tenure.
Due Date: Your EMI is due on the same calendar date each month as your first payment date.
Payment Methods: EMIs may be paid via UPI, Net Banking, Debit Card, or NACH auto-debit mandate.
NACH Mandate: By registering, you authorise New Life Digi Gold to present NACH debit instructions to your bank on each due date. It is your responsibility to maintain sufficient balance.
Late Payment: A late payment fee will be levied on overdue EMIs as specified in your loan agreement. The fee amount will be disclosed at booking.
Partial Payments: Partial EMI payments are not accepted. Each EMI must be paid in full on or before the due date.
Prepayment: You may prepay the remaining balance at any time without penalty. Contact support to obtain your payoff amount.

Failure to pay EMIs as agreed may affect your CIBIL credit score, as loan account data is reported to credit bureaus as required by RBI regulations.

Gold Delivery & Ownership

The following terms govern the delivery and ownership of gold under this scheme:

Release on 50% Payment: Physical gold is released and becomes your property upon verified receipt of the 50% upfront payment. You do not need to wait until all EMIs are completed.
Centre Collection: You may collect gold from our Thanjavur centre on the booking date or a date agreed with our team.
Home Delivery: Available for select PIN codes in Tamil Nadu, subject to availability confirmed before booking. Delivery time: 2–3 business days.
Packaging: Gold is delivered in a sealed, tamper-evident BIS certified pouch with a purity certificate.
Risk Transfer: Risk of loss or damage transfers to you upon collection from our centre or upon successful delivery to your address.
Inspection on Receipt: You must inspect the package at the time of delivery. Any discrepancy in weight or seal damage must be reported within 24 hours to support@newlifedigigold.com.
Remaining Balance: Even after receiving the gold, the outstanding EMI obligation remains binding and must be repaid in full.

Foreclosure & Cancellation

The following terms apply to foreclosure (early repayment) and cancellation:

Foreclosure: You may settle all outstanding EMIs in a single lump-sum payment at any time. No foreclosure penalty is charged. Email your scheme ID to support@newlifedigigold.com to request a payoff quote.
Pre-Delivery Cancellation: If you wish to cancel before collecting or receiving gold, a written request must be submitted within 24 hours of booking. Upon approval, the 50% upfront amount will be refunded after deducting applicable processing fees. Refund is processed within 7–10 business days.
Post-Delivery Cancellation: Once gold has been delivered or collected, the scheme cannot be cancelled. Your outstanding EMI obligations remain binding.
Scheme Modification: If New Life Digi Gold materially changes the scheme terms, you will be notified and given an option to cancel without penalty within 15 days of notification.

Default & Recovery

You will be considered in default under any of the following circumstances:

Failure to pay 3 or more consecutive EMIs by their respective due dates.
Providing materially false or fraudulent information during registration or KYC.
Insolvency, bankruptcy, or similar proceedings initiated against you.
Any court order or regulatory action that prevents you from fulfilling your payment obligations.

Upon default, New Life Digi Gold may:

Declare the entire outstanding balance immediately due and payable.
Report the default to credit bureaus (CIBIL and others) as required by RBI guidelines.
Initiate recovery proceedings in accordance with RBI NBFC Recovery Guidelines and applicable law.
Engage a recovery agency authorised and compliant with RBI's Fair Practices Code for NBFCs.

If you anticipate difficulty in making a payment, contact us immediately at support@newlifedigigold.com or 86800 96835. We will make reasonable efforts to assist you.

Fees & Charges

The following fees may apply under this scheme. All fees will be disclosed at the time of booking before you confirm your registration:

Gold Price: Based on the prevailing market rate on the booking date. Locked at booking.
Processing Fee: A nominal one-time processing fee may be charged at registration. Amount disclosed at booking.
Late Payment Fee: Levied on overdue EMIs. Amount disclosed in your loan agreement.
NACH Return Charge: If your bank returns a NACH debit for insufficient funds, a return charge may apply.
No Interest: Zero interest on the EMI balance — ever.
No Foreclosure Penalty: Prepay the remaining balance at any time with no penalty.
No Hidden Charges: No service charges, no EMI processing fees, no annual fees.

Limitation of Liability

To the maximum extent permitted by applicable law:

New Life Digi Gold's total liability to you for any claim arising from or related to this scheme shall not exceed the total amount you have actually paid to New Life Digi Gold under the relevant booking.
New Life Digi Gold is not liable for any indirect, incidental, consequential, or punitive damages, including loss of profit, data, or business opportunity.
New Life Digi Gold is not responsible for delays or failures in delivery caused by Force Majeure events including natural disasters, government actions, strikes, pandemic, war, or other events beyond our reasonable control.
New Life Digi Gold does not guarantee uninterrupted access to the website or app. Scheduled maintenance may temporarily affect availability.

Nothing in these Terms limits liability for fraud, death or personal injury caused by negligence, or any liability that cannot be excluded by law.

Governing Law & Dispute Resolution

These Terms are governed by and construed in accordance with the laws of India.

Grievance Redressal: For any complaint or grievance, first contact our support team at support@newlifedigigold.com. We commit to responding within 2 business days.
Escalation: If your grievance is not resolved within 30 days, you may escalate to the RBI's Ombudsman for NBFCs via the RBI Integrated Ombudsman Scheme.
Jurisdiction: Subject to the above, any dispute arising under these Terms shall be subject to the exclusive jurisdiction of the courts at Thanjavur, Tamil Nadu, India.
Arbitration: For disputes above ₹5,000, either party may elect to resolve the matter through arbitration under the Arbitration and Conciliation Act, 1996. The seat of arbitration shall be Thanjavur, Tamil Nadu.

Contact Us

For any questions about these Terms, your scheme, payments, or delivery — reach us through any of the following: