The Orra Dream Purchase Program
For 3 to 12 months on purchase of
HOW DOES IT WORKS
What is the Dream Purchase Program?
The Dream Purchase Program is a tie up with multiple financial institutions that enable instant, hassle free credit to the customers to make purchases across the multiple points of sale. The entire process rests on the creditworthiness of the individual which in turn requires certain documents to be provided at the time of making a purchase. It is a third party NBFC facility that provides an EMI facility to the customer that wishes to purchase jewellery. This program is aimed at simplifying the way customers purchase jewellery. It will be available across the 33 showrooms in 21 cities.
What kind of jewelry can be purchased by means of the Dream Purchase Program?
This scheme allows you to purchase only Diamond studded jewellery, this program does not allow for the purchase of Solitaires or gold jewellery.
What is minimum value for the program?
The minimum value is defined as low as Rs. 15,000 and can go as high as Rs. 15 Lakhs.
So who can enroll in this program?
In the event that there is a customer who is already purchasing a product and wants to purchase a higher value product but for whatever reason is unable to purchase the product then they can be offered to be a part of this program.
Who can I sell the program to or can avail of this program?
Every customers cannot be enrolled with this program; the customers that are enrolled with this program either have to be self - employed or salaried with the relevant proofs to be provided as required at the time of enrollment.
What is the criteria for being eligible for the Dream Purchase Program?
The individuals eligible for the Program require to have a minimum income of about 12,000 per month to be eligible for this scheme.
What is the benefit of enrolling with the Dream Purchase Program?
This program allows you to purchase your dream piece of eternity at a flexible rate and at an interest free EMI.
Why should I enroll at in this program at ORRA?
The diamonds that are sold at ORRA is a celebration of the rich Belgian legacy that is reflected in each of the products that are sold at the store. Each piece of jewellery is specially curated for the customer with the most discerning eye. The advantage of enrolling with this program will ensure that you will be to purchase your special piece of eternity the moment it catches your eye as opposed to waiting for the right moment when the budget matches the price.
Why should you enroll with the program?
The program allows you the flexibility to pay for the product of your choice at leisure and without the additional burden of the Interest which is borne by ORRA.
What is the paperwork I require to fill in for to enroll in the Dream Purchase program?
The documents required include the Pan Card and the Aadhar card which are mandatory and non – negotiable which is later followed by the Utility Bills and Bank statements.
How much do I need to pay to enroll in the Dream Purchase Program?
The advantage of this program is that it looks at offering a flexible payment option to the customer based entirely on their ability to pay.
How long is my application valid?
The application is valid for a period of 7 days and within that time frame it is mandatory to complete all the relevant documentation any delay will result in the application being rejected and the customer will require to re – apply for the same.
How much time is required to complete the document verification process for the program?
The time taken is anywhere between 30 Minutes to about 3 hours. The eligibility of the customer can be revealed within 30 minutes, but the product is delivered only after confirmation from the team at Kissht as any transaction over a lakh of rupees requires a verification of the customer’s address by the team at Kissht.
How do I make the monthly payments?
The Payments happen via ECS, this is mandatory; and the down payment can happen online as well. The first payment is generally made by means of a cheque.
When does the EMI begin for the customer?
The EMI for the customer begins a month after the customer has enrolled in the scheme.
What is the discount I get on my instalments under the Dream Purchase program and what happens if I fail to pay my monthly instalments?
There will be no discounts offered to the customer in the event that s/he decides to enroll in this program; ORRA will be bearing the interest rates for the customer which is equivalent to a massive discount in itself.
Going forward the interaction will be between the customer and NBFC, ORRA at no point will be held responsible for any kind of delay in payment that occurs on the part of the customer. Any delay on the customer’s part to pay said installment will result in the Customer’s Credit scores being affected in a negative manner which may hamper the customer’s creditworthiness for all future transactions.
What is the buyback value of the piece?
If the EMI is yet not complete the customer cannot do a buyback of the piece but if s/he wants to then there will be an additional 10% deduction over and above the buyback value which is to be clearly communicated.
IF the EMI is complete the customer can opt for the buyback as per the ORRA policy.
What happens in the event the customer wants to pay off the loan amount earlier?
In such a case the transaction are between Kissht and the customer and as such the customer can choose to either pay off the entire amount earlier or prematurely as per their discretion.
Can the customer avail of the upgrade policy whilst being a part of this program?
The customer can avail of ORRA’s 40% upgrade policy whilst being a part of DPP so long as the additional value on the new piece is borne by the customer upfront no relaxation will be offered to the customer in terms of a discount etc. considering that he is still paying off the loan on the original amount. There is no possibility of a loan on a loan.