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COOL HOLIDAY SAVINGS SCHEME

What is COOL HOLIDAY SAVINGS SCHEME?


Go-on-holidays.in offers a unique savings plan for holiday
goers. The Holiday Saver proposition as it is being named
allows individuals to do small savings on monthly basis to
avail a vacation package to specific domestic/international
destinations.

Customer
chooses
and
books
the
type
of
holiday
(domestic/international) and the holiday destination being offered by
Go-on-holidays.
The Holiday is to be scheduled for future (12 months)
For doing monthly savings for the holiday a deposit is opened with Goon-holidays. The value of monthly installment of savings is determined
on the basis the cost of the package.
At the end of the 12 months, the maturity amount will be used by Goon-holidays for execution of the holiday package.

FAQs for Holiday packages


Who can avail of this option?
This option is available for all Resident Indians and for all product types
Escorted Tours, Customized Holidays and Domestic Holidays.
How does the Cool Holidays Scheme (CHSS) work?
The Cool Holidays Scheme (CHSS) is a simple saving option to plan for your

dream holiday. You just need to choose from the given destinations, plan the
no. of people traveling and open a deposit account with us where you would
save the pre-decided monthly installment over 12 months. You just need to
give us a go ahead on your choice of destination & selected plan via a CHSS
consent form, and our executives will assist you in the account opening
formalities.
What is a CHSS Deposit?
CHSS Deposit is a monthly savings tool wherein a pre-fixed amount is saved
every month. This deposit earns interest as applicable from the day of
opening of the account.

When can I take the holiday?


You can redeem your holiday 45 days after the maturity of your CHSS deposit
and after receiving all your necessary travel documents. However, you need
to utilize your holiday within 120 days of maturity.
What documents are required to enroll for the CHSS?

The following documents will be required:


By Go-on-holidays
CHSS Consent form
Booking form (on maturity and finalization of travel dates)
Other documents as required by the respective consulate/embassy for your
visa application (if applicable)
Do I need to intimate you on my maturity date of the CHSS deposit
account?

We will take care of that so you dont have to worry. Prior to maturity of your
account we will remind you to finalize your holiday dates. We will help you in
deciding the exact dates; advice on documents required and assist you with
additional services that you may wish to avail of.
Can I modify, change or top up my holiday?
Yes, you have complete flexibility to modify, change or top up your holiday
post maturity of the plan. However you would need to pay the differential
amount to us for the same. Our sales representative will assist you for the
same.
Do I earn interest on the CHSS recurring deposit account?
Of course you do. You will earn an interest of 7.35% per annum.
Do I get to keep the interest?
The interest you earn on your savings in the CHSS deposit account is for you
alone. Only the principal amount that you save will be utilized against your
holiday and the interest that you earn will remain in your account. You may
also choose to utilize it to top up your holiday.
What if I miss an installment or delay in payment of the installment?
Go-on-holidays will not charge any penalty
What do I have to do to enroll for the package?

Please call up Go-on-holidays Help line 7090078444/9845178444/08362790444 for enrollment.


Can I redeem partial amount at maturity and use the reminder to
travel. Eg. At maturity I get 80K, I want to redeem 30K and use 50k
for travel
Ideally, there wont be any such flexibility on the same, but will be evaluated
on a case to case basis, but the customer will have to pay any extra charges
that might come up, since the original contract is not adhered to.
Is there any penalty if I decide not to travel after the maturity?
No. There is no penalty. We want the customer to enjoy the benefits at his /
her will.
Is there a time limit after maturity within which I have to travel?
15th Month or 18th month will be the last date to travel at the committed
rates for the selected package.

Can I change the destination / holiday package that I originally


booked for?
Ideally, not possible, but if the customer is willing to pay the additional
charges that might apply due to change of plan, we will consider it on a case
to case basis.
What do I get from Go-on-holidays when I register for CHSS ?
Customer gets a welcome kit, which will have the booking form and all the product
benefits and the holiday packages that the customer can select.
Whats the plan to ensure that the customers pays all installments and takes the
holiday as well
We will have a constant SMS / Email communication plan which will keep the customer
updated on what one stands to get and create excitement about the holiday he / she is
looking forward to.
Can I change the package add / delete days / destinations that I originally
subscribed for?
Changing the package / plan might lead to change in the package rates, but if the
customer is willing to pay for additional charges, if any, then one can make the changes.

Can a minor apply for the Holiday Savings Account?


Yes, Minor can apply on his own if age is greater than 10 years . Younger minor can
apply jointly with the guardian.
I am a senior citizen. Are there any additional benefits for me from Go-on-holidays
?
You will get 0.5 % additional interest rate on your CHSS account that is opened with the
Go-on-holidays, which contributes towards paying the cost of your holiday.
How do you promise to offer me inflation-free rate? How does it work? Is there a
catch?
Once the holiday is confirmed by customer ( within 3 months) we block the hotel and
airlines at pre approved rates ( current year vs next year) The old catch is that if the
customer doesnt take the holiday Go-on-holidays will end up with a loss, as the liability
and risk rest with us
Can my CHSS be opened in joint names?
Yes, you can open a CHSS Deposit in a joint name.
Can the first applicant for a Recurring Deposit be a minor?
The first applicant can be a minor. If the minor is above the age of 10 he /she can
operate the account independently, for minors of age less than 10 years the account will
be opened under guardianship of natural guardian
Can I withdraw prematurely from my Recurring Deposit?
Premature withdrawals are not allowed, but remember that no partial withdrawal is
permitted.
What if certain CHSS installments are not paid?
There is a penalty of Rs 1.50 per Rs 1000 per month which is levied on unpaid
installments. If six consecutive installments are unpaid, Go-on-holidays reserves the
right to close the CHSS account. The interest rate applicable on such closed accounts
will be as per the premature withdrawal policy of the Scheduled Banks.
How Interest Rate is calculated for premature withdrawal of CHSS Deposit?
If you choose to close your CHSS account prematurely, the interest will be paid
@adjusted rate. The adjusted interest rate calculation will be as follows: The rate prevailing at the time of booking of the CHSS applicable for the period
for which CHSS has run will be used as the reference rate.
Premature penalty of 1% will be levied on the same as per policy.
Reference rate minus the penalty will be the adjusted rate
Interest will be paid on this adjusted rate.
Is an overdraft facility allowed?
Right now there is no overdraft facility for Recurring Deposits.

Can partial Payments be made on CHSS Deposits?


Partial payments are not possible.
Is there a nomination facility?
Yes, there is a nomination facility on the CHSS Deposit account.
Is there a monthly or quarterly interest pay-out option?
No. Interest is only paid when the CHSS Deposit account is closed, and on maturity.
Can I change the tenure and installment due date, (auto debit date) of my CHSS
Deposit?
No it is not possible to change the tenure and installment due date, (auto debit date).
We request you to open a new CHSS Deposit with the desired due date and tenure.
Can I choose my installment date?
The date of your monthly CHSS installment will depend on the date you opened your
CHSS account.

How it works
Simple saving options for your dream holiday
We at Go-on-holidays believe holidays should be made more accessible and
thus we present to you Cool Holiday Savings Scheme that enables you to
save bit by bit for your next holiday. Its a monthly Deposit scheme with us
that lets you choose a pre-decided amount that you will save every month
over a period of 12 months.
Once complete, simply redeem it for a holiday thats made for you and your
family. So go ahead and take the simple 3 steps towards making your holiday
dream come true.
Cool Holiday Savings Scheme

Simplified (Illustration)

The CHSS Plan


CHSS Installment x 12 Months
2500
Total
30000
You Earn Interest
2,205
Your Holiday Cost
32,205
Plus Go-on-holidays Contribution x 1
Month
2,500
Prices are per person Ex-Bengaluru/Hubli
Interest earned calculated at 7.35% p.a. and may vary based on scheduled
bank T&C.

COOL HOLIDAY SAVINGS SCHEME AGREEMENT AND CONSENT FORM

Name: ______________________________________ Participant ID # ________________


Financial Institution Holding the CHSS Account: ___________________________________
Asset Choice: __________________________________Savings Goal: Rs.______________
Monthly Savings Amount: _____________ Date of First Deposit: _____________________
No. of Months the Account Holder Plans to Save: ____ Target Completion Date: _________

As a participant in the CHSS Program, I, ___________________________, agree to


deposit the amount of Rs______________ into my CHSS account each month. I
understand that my CHSS savings are not to be withdrawn until my savings goal has
been met, without prior approval from Go-on-holidays, for a qualified emergency. A
qualified emergency is defined as:
1. Preventing or forestalling the eviction of a participant or a participants family
from their residence
2. Preventing foreclosure on a participants primary residence
3. Paying for critical health care services for a participant or a participants family
member
4. Pay for critical living expenses, such as food expenses, following a participants
loss of employment.

I agree to participate in all Packages offered to CHSS participants.


I understand that I am participating of my own free will and I can avail he benefits
offered by the CHSS Program only after the committed tenure of 12 months .
Name of Participant (printed): ___________________________
Signature of Participant ________________________________ Date: __________________
If participant is under the age of 18, please include:
Name of parent of legal guardian (printed): _________________________

Signature of parent of legal guardian: ______________________________