916 GOLD SAVINGS ACCOUNT
The savings account work by fixing gold rate as per the payment day, and saves up the 916 gold in terms of weight (in grams). The payment can be made at anytime without any time limit or expiry duration. Yes, the time period is unlimited.
For example, you can book either 1 gram or 5 grams or 10 grams at today's rate by paying the total booking amount. You can continue to save on the same account with any amount of gram (min. 1 gram per transaction) at any random time.
In the future, you can claim the weight saved (in grams) against any of 916 jewelleries in the showroom and only pay the workmanship for the design of the item that you're deciding to claim. Hence, the gold rate will not need to be worried upon as you have already booked them as and when in your gold savings plan.