KSFE Chit Passbook Loan

Passbook mortgage facility of KSFE is to be had to up to date non-prized chitty subscribers, supplied that the subscriber has made no default inside the remittance of installment. No security, aside from the passbook is required to avail this facility. The charge of interest is 12.50% for easy bills and 14.50% for defaulted debts.

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Chitty is the principle made of KSFE.
It is a completely unique economic product, which blends the benefits of each investment and improve. It is a risk free secure haven for the public as KSFE conducts simplest chitties fully governed through the provisions of Central Chit Fund Act 1982. The installment in line with month for chitties variety from Rs. 1,000 to Rs. 5,00,000 and the usual duration of chitties are 30 months, 40 months, 50 months, 60 months and 100 months.

The total of the periodic subscription, referred to as the chitty quantity, may be given out as “prize money” to the person who bids by using bearing in mind the maximum reduction within the prize money. The maximum reduction possible is 25% as consistent with the triumphing Chitty Act and if there are more than one subscriber interested in bidding at 25% discount, the numbers of the such bidders can be positioned to a draw.

What is Chitty Loan For? Chitty Loan is a bridge between your real economic need and the delay in chitty getting prized for your favour.

Interest Rates 13.00% – 15.00%
Maximum Loan quantity 75 Lakh
Toll Free Number 1800 425 3455
When am I eligible for a chitty mortgage?

If you’re a non-prized subscriber in a chitty and remitted 10% of the overall quantity of instalments directly, you’re eligible for an increase as much as 50% of the full chitty amount or sala (gross subscription to be remitted according to month multiplied by means of the variety of installments within the Chitty).

How are the Principal and the interest of the Chitty mortgage settled?

The essential of the improvement is settled with the aid of adjustment from the Chitty prize cash and the interest must be remitted every month.

What is the interest charge?

The interest fee of the advance is thirteen.00% (easy) and for defaulted money owed 15.00%