Frequently Asked Questions
All you need to do is to fill our application form and self attest your KYC documents to onboard with us.
Yes, we are registered company and also regulated by Govt.
Auction is a bidding event where the subscribers of any specified group participate and bid the amount as they wish, based on the ceiling decided.
A certain amount is deposited on a regular basis by the group of people till the specified tenure and the auction shall be conducted on monthly basis and the prize money shall be disbursed to the successful bidder. It works as a low interest loan & high interest returns.
No, loan cannot be provided against your chit.
The term ceiling is derived to run a chit fund organically for both foreman and subscribers to ensure high profit ratio. Ceiling of foreman commission starts form 7% to 40% which is subjective to company’s decision.
Yes, we are registered company and also regulated by Govt.
Yes you can transfer your ongoing chit to other name by submitting the required documents as per compliance.
Yes it is. We are a registered chit fund company, regulated and governed by the Chit funds Act 1982
No, loan cannot be provided against your chit.
We have multiple schemes designed by Sri SPN Chit fund financial experts for all the segment of people, starting from 10,000 to 10,00,000.
A chit shall be deemed to have terminated when the last auction date in the chit group agreement has ended and settlement to be completed within 30 working days from the last auction date.