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Terms & Conditions

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Agreement

Terms & Conditions

The rules that keep every chit fair, transparent, and legally sound — read through the terms below before you enrol in any of our schemes.

01

General Terms

  • All chit schemes we offer are registered and conducted strictly under the Chit Funds Act, 1982.
  • Membership is open to individuals who meet our eligibility and documentation requirements.
  • These terms apply to every subscriber for the complete duration of their chit tenure.
  • We reserve the right to update these terms, with prior notice given to all members.
02

Payment & Charges

  • Monthly subscriptions must be paid on or before the due date stated in the chit agreement.
  • Our commission is capped at a maximum of 5% of the chit value — one of the lowest in the industry.
  • No entrance or joining fee is charged to any new member, on any scheme.
  • GST and other applicable government levies apply as per current central regulations.
03

Auction & Bidding

  • An open auction is conducted every month among all eligible subscribers.
  • The member who places the lowest bid receives the prize amount for that cycle.
  • Once a member has been prized, they continue paying instalments but may not bid again.
  • The bid discount earned each month is distributed as dividend to non-prized members.
04

Member Benefits

  • Our registered chit schemes make structured saving and easy borrowing accessible to everyday families.
  • High-value plans are available to support education, business, and other personal financial goals.
  • Over five decades of uninterrupted service reflect the continued trust our members place in us.
  • Prize amounts are disbursed to winning members promptly and with complete transparency.
05

Termination & Default

  • Members who default on payments beyond the grace period may be liable for applicable penalties.
  • Early exit from a chit scheme is subject to the conditions specified in the subscriber agreement.
  • Membership may be terminated in cases of documented fraud or repeated payment default.
06

Dispute Resolution

  • Any disagreement is first addressed directly between the member and our branch office.
  • Unresolved disputes are handled in accordance with the jurisdiction of the registering authority.
  • Members are encouraged to raise concerns early through our support team for a faster resolution.
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Important — GST and other applicable charges are levied strictly as per Government of India norms. No entrance fee is charged to any member, and our foreman commission never exceeds 5% of the chit value.

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