Layaway
Layaway is a flexible payment option that allows you to reserve a product by paying an initial deposit and then complete the remaining balance through scheduled installments over a fixed period, based on the plan you select. Once all payments are successfully completed, the product is released to you.
Layaway Payment Plan – Terms & Conditions
Eligibility
- The Layaway Payment Plan is available on products valued at ₹20,000 and above.
- The maximum layaway period permitted is 100 days from the date of booking.
Payment Terms
- The date of payment of the security deposit shall be considered the date of sale and commencement of the layaway agreement.
- Payments must be made exclusively via bank transfer or other approved payment methods specified by The Luxury One. For Card payments an additional processing fee of 3% is applicable.
- All applicable processing charges are fixed and non-negotiable.
- Customers may prepay the outstanding balance at any time without penalty. However, applicable processing fees under the agreed plan shall remain payable.
Product Reservation
- Once a product has been reserved under the Layaway Payment Plan, it cannot be exchanged for another product.
- No returns, refunds, cancellations or exchanges shall be permitted under the Layaway Payment Plan.
Shipment & Delivery
- The reserved product will be dispatched only after full payment has been received and cleared.
- Delivery is generally completed within 5 to 7 business days from the date of final payment confirmation.
Delayed Installment Payments
- Installments are due on the same date each month following the initial booking date.
- A late payment charge of 5% of the overdue installment amount per month shall apply from the due date until payment is received.
Failure to Pay Installments
- In the event that a scheduled installment remains unpaid until one day prior to the next installment due date, The Luxury One reserves the right to cancel the layaway agreement.
- Upon such cancellation, all amounts paid up to that date, including the security deposit, shall be forfeited and shall not be refundable.
Layaway Plan Matrix
| Product Value | Layaway Period | No of Installments | Security Deposit |
|---|---|---|---|
| 20,000 & Above | 30 Days | 2 | 30% |
| 40,000 & Above | 45 Days | 3 | 30% |
| 60,000 & Above | 60 Days | 3 | 25% |
| 80,000 & Above | 75 Days | 4 | 25% |
| 100,000 & Above | 100 Days | 5 | 20% |
