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KFJ Jewellery - KFJ Gold Rush

 
17 Reviews
User
  Third eye on Apr 26, 2011
Be aware of KFJ gold rush scheme and the false promises , I had joined the scheme in 2010 , while joining they asured to give the gold coins at the lowest rate during the scheme period 15 months (that is 1480 per gram ) but later when i paid all my monthly installments and finally went to purchase the gold , i was in for a surprise . Usually any jewellers will charge only 3 % wastage+1% VAT for gold coins ( even the same KFJ does it for hot cash but for KFJ gold rush savings scheme alone additional wastage of 12 %)
they charged me 12 % wastage + 1% VAT that to in the current market rate of 2015 per gram. If i opted to buy jewels the 18 % wastage + 1% VAT. They made me wait for two weeks to get the gold coins. Do not waste your money in KFJ gold rush scheme , they provide false promises and finally cheat you by increasing the wastage as they wish .


Complaint comments 16 Comments     Updated:
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Comments

A Jan 3, 2012 by
User
seemasudhan  
 
Yes it is true . We should never go for any investment in KFJ . They are real cheaters. They are charging 14% wastage and also told us it is very normal .
I will never recommend anybody for this scheme. They are collecting our money for more than one year and that too in the initial stage we paid Rs.6000/- per month for the first 3 months and Rs.2000/- from 4th to 12th month.
I have savings in other Jewellery shops but they are not cheating like this.
Can anybody tell us what is the maximum wastage for the normal bangles in Chennai Jewellery shop?
N Jan 4, 2012 by
User
vinoravi  
 
Hi seemasudhan/third eye,
I have invested in KFJ Gold rush and it matures this month. Im planning to buy jewellery in another two weeks. Is there any other way to fight this cheat? I dont want to agree for whatever wastage they say.

Please read this article in Hindu -http://www.thehindu.com/todays-paper/tp-national/tp-tamilnadu/article2572176.ece

Kiindly mail rvino.in@gmail.com for any idea/suggestions.Thanks
N Jun 12, 2012 by
User
sujith cherian  
 
The Kfj Gold rush scheme is a very benefitial scheme according to me for the investor.We can buy gold jewellery for the amount saved and that to at the lowest price in the period.At 1501 even when prices are 2500.Which other jeweller is offering such a scheme. Kfj has taken a huge risk and lived upto it .Many others we have promised by in the end they either run away with our money or sell substanded goods.Can any one say that they have not lived upto the commitment.They have sold 916 hallmarked jewels.Of course they have not promised coins under the scheme.I you can prove that they have promised Goldcoins through their terms and conditions i will give you 1 crore.My number+91 9884222290.What is the benefit the jeweller makes if he is going to give away gold at the lowest rates and at 3% wastages.One has to be fair to them.For hot cash any body can give gold coins but for lowest price scheme who will offer such a benefit after taking a beating of more than 1000 rs a grm .Plus one needs to think why will any jewller want to sell you gold coins under a scheme that already offers an excellent benefit of lowest rate.
D Jun 12, 2012 by
User
sujith cherian  
 
When some body make ridiculous acustations and point a fingure think the other three fingures are pointing at your self.
D Oct 23, 2012 by
User
PRAVEEN0007  
 
KFJ'S GOLD RUSH SCHEME IS VERY BENEFITAL SCHEME I PURCHASE A GOLD 1501/- PER GRM WHEN GOLD RATE IS 2500/- PER GRAM. IT AL OF BECAUSE OF KFJ'S GOLD RUSH I GOT A 60% OF BENFIT IN THIS SCHEME KFJ'S GOLD RUSH IS THE BEST SCHEME IN JEWELLERY SAVINGS SCHEME IN INDIA.THANKS TO KFJ
N Jan 6, 2013 by
User
aquaguys  
 
In the beginning everybody talks bad about the scheme and company and after that everybody talks in favour of the company and scheme. Now the KFJ Gold Rush Scheme says, 0% wastage & 0% Making charges for 916 gold and gold coins, Which is clearly mentioned in their website www.kfjgold.in. Anybody claiming to pay 1 crore rupees for proving this, are they ready to give till now? Others are offering better schemes than this. So instead of promoting a single company, anyone who wishes to invest, let them check all the options available for them.

This is a good portal for the consumers to raise their voice against anything that is against the interests of the customers or anyone tries to cheat us. So instead of promoting a particular company or product let us hear from others opinion also.
N Mar 12, 2013 by
User
qaqa  
 
Be aware of KFJ gold rush scheme and the false promises, I had joined the scheme in 2011, while joining they asured to give the gold coins at the lowest rate during the scheme period 36 months (that is 1480 per gram ) but later when i paid all my monthly installments and finally went to purchase the gold, i was in for a surprise . Usually any jewellers will charge only 3 % wastage+1% VAT for gold coins ( even the same KFJ does it for hot cash but for KFJ gold rush savings scheme alone additional wastage of 12 %)
they charged me 18 % wastage + 1% VAT that to in the current market rate of 2015 per gram. If i opted to buy jewels the 18 % wastage + 1% VAT. They made me wait for two weeks to get the gold coins. Do not waste your money in KFJ gold rush scheme, they provide false promises and finally cheat you by increasing the wastage as they wish .


N Mar 12, 2013 by
User
qaqa  
 
Yes it is true . We should never go for any investment in KFJ . They are real cheaters. Fraud peoples Sucking Middle class, lower middle class peoples blood in the form gold savings Scheme .. fraud ...fraud fraud .. I will never recommend to any one...
N Mar 15, 2013 by
User
KFJGOLD  
 
It's is unfortunate to know that most of the complainants in this forum are well educated but don't read or follow the terms and conditions of the scheme. KFJ has never committed to give Gold Coins under the Gold scheme the complainant is focusing on. A copy of the scheme application is attached for any ones perusal. ( Plz note term no# 12 - which clearly states the above ) To misuse the World Wide Web at ones own convenience is also a misuse of customer right. KFJ has more than 1lakh customers in our various schemes but only a hand full of customers who have not followed the terms & conditions of the scheme have complains against us which itself proves who is on the right and who is on the wrong. In other words the righteous customer who pays their installments promptly and reads the terms and follows the same have reaped the benefits from KFJ. But the unjust and the ones who want to break the rules have every reason to complaint. We know pretty well that all the sheep's in a shepherds house can't be good, there can be black sheep's too - So is the case here..

I, Sunil Cherian ( Director : KFJ Gold & Diamonds Pvt Ltd ) am bound to answer and clarify all consumers who have patronized and will be further patronizing us in the future. I hereby appeal to you (the reader) not to be carried away by some false allegations. My personal hand phone number is +919884328286.. ( Plz leave a MSG if I don't answer & I will call back )

Our 40 Years of Heritage & our customers who are a part of our family goes to prove our integrity..


N Mar 18, 2013 by
User
qaqaqa  
 
KFJ Gold Rush
Yes it is true . We should never go for any investment in KFJ . They are real cheaters, blood suckers . They are charging 18% wastage and also told us it is very normal .
I will never recommend anybody for this scheme. They are collecting our money for more than 3 year and that too in the initial stage we paid Rs.6000/- per month for the first 3 months and Rs.2000/- from 4th to 36th month. I booked gold for 1790 gm to years before ...after paying more than 24 months and 25th month they said you have more default (late payments ) so you can't proceed further ... so got jewellery at todays rate ... All my savings i paid for months went in Vain ...Peoples don't believe this Guys and waste your valuable money and Time ...

Think twice or thrice before ...
N Mar 20, 2013 by
User
sujith cherian  
 
KFJ GOLD Rush

Once again i would like to bring to the notice of the earlier complainant, KFJ has been offering the Lowest rate in 30 months ie(1790 0r 1501 per gram )according to the date of joining the scheme for those who have payed their installments regularly for 30 months .While the market rate is 2800 0r 3000 a gram for a jeweler or company to offer 1790 0r lower is not easy that too with the subscriber paying their money only in instalments.I would like to challenge the above if he can prove a better jewellery scheme than this any where else .Besides this paying 18% wastages .Once again wastages depend upon the kind of jewellery one chooses to buy.A jeweller manufactures or sources jewellery from different parts of the country and world for which they pay different wastages to the labour or smith.Hence wastages depend on the type of product one buys also the Gold rush scheme is not about wastage charges, it is about Gold rate benefit .Unfortunately some customers think and mix up the benefits of other jewellers schemes with that of KFJs.The fact that Gold rate is 1790 when others are offering at 2800 (even without watage) means that KFJ has offerd about 40 to 50 % better rate than others where some others charge less wastage under their scheme but sell gold at the present market rate even if the customer has payed their money at lower rates.Hence all i have to say is a proverb in Tamil- Kannaal kaanbathu poi theera visaaripathe mey.( What you see is untrue further enquire and that will revel the truth.)...In fact i sometimes feel that this is the work of a competitor(the qaqaqa complainent) who is affected by KFJs customer friendly schems.
N Mar 22, 2013 by
User
Ramesh Chandran  
 
KFJ's is the best Jewellery shop as it is the only jewellery shop which give me the highest value for my money which I invested in gold. The gold rush scheme which I invested in gave me more than 50% return on investment & helped me buy gold at the lowest rate in the last 30 months.

When Gold rate is Rs.2800/- KFJ helped me by GOLD at Rs. 1900/- I have benefited out of this scheme and I know KFJ will stand for what they have promised.
N Mar 22, 2013 by
User
Rajan Philip  
 
KFJ's GOLD SCHEMES ARE THE BEST GOLD SAVING SCHEMES AND I'M A HAPPY AND CONTENTED CUSTOMER WHO HAS BENEFITED OUT OF IT. BY SAVING IN KFJ's GOLD SCHEME I WAS ABLE TO BUY GOLD AT THE LOWEST RATE IN 30 MONTHS AND THAT TOO WHEN GOLD RATE WAS Rs.2650/-

ALL JEWELLERS ADVERTISE THAT THEIR SCHEMES ARE THE BEST BUT IN THE END GIVE US GOLD AT THE PRESENT MARKET RATE BUT ONLY KFJ HELPED ME SAVE MONTHLY Rs.5000 & ALLOWED ME TO PURCHASE GOLD AT THE LOWEST RATE IN FOR ALL THE MONEY I HAVE SAVED IN THE SCHEME.

I WILL ALWAYS RECOMMEND KFJ TO ALL MY FRIENDS AND RELATIVES BECAUSE I THINK IT'S THE BEST JEWELLERY SHOP WHICH GIVE THE MAXIMUM VALUE FOR MY MONEY.

RAJAN PHILIP
N May 1, 2013 by
User
dhanyavidya  
 
Its a best offer what KFJ has run earlier .we had a couple of good savings. It could be great if they are able to run the same offers once again. the only area of concern is that if they are able to reduce their wastage below 8 to 10%, since market has shown such less wastage. almost all jewels carry a high wastage from 14% to 18%. could they think on it?????????
N Aug 27, 2013 by
User
L Natarajan  
 
I am planning to invest in a bond of Gold, Three year gold investment plan. After 3 years what will be the maximum wastage that you people will charge. Based on the above complaints am having lot of confusions about KFJ's wastage charges. Can any concerned person of KFJ clarify through this portal itself?
N Sep 12, 2013 by
User
braji  
 
Beware of any such schemes - not necessarily with respect to KFJ. There were several such ponzi schemes launched and found to be bogus. Imagine 1 lakh subscribers opt for it with Rs. 2000/- each...At one shot, such companies earn Rs. 200 Crore and what would they do with that money? Buy gold stock and keep it? Or invest in film productions? Why don't our citizens change their mind set? It happens only in India. Do they come under any regulatory purview such as RBI when they launch such schemes? Who is monitoring the poor people fund? As usual we will have useless Governments got sleeping and wake up when millions throng on the road or in front of premises. By then, frauds will run away with individual's hard earned money. Wake up guys!

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    KFJ Jewellery - KFJ Gold Rush

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