The finance minister of Kerala, Dr. T.M. Thomas Isaac inaugurated pravasi bandhu chitty 2009 yesterday in Kochi. He promised to start a subsidiary in Gulf countries. It will allow gulf malayalis to remit the chitty installment directly.
Read a more detailed report here and watch the Youtube video of his speech here.
Invest safely in Kerala's own chits and thereby contribute smartly to the state's infrastructure development
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KSFE Pravasi Chitty: Everything NRKs Need in a Chitty
We, then at KSFE Attingal Evening Branch, started this blog in 2009. The one question we have been receiving for all these years is this (...
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Here is our notice. Please check the chitty patterns we are going to start and the special benefits of joining Pravasi Bandhu chitty scheme ...
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We, at KSFE Attingal Evening branch, do not have any fancy claims (like mutual funds, insurance companies, and other wealth management firms...
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1. What are KSFE chitties? Chitties (also known as chitty, chit funds, chitti, or kuri) are a multi-purpose monthly investment scheme...
can i pay the installment of chitty from uae?
ReplyDeleteYes. You can.
ReplyDeleteYou may send a cheque or DD to the branch.
You can opt for the online transfer option as well. You need to have a bank account in an Indian bank (SBT, SBI, ICICI, ...) that supports NEFT facility
sujitha: Hello Sir,
ReplyDeleteDue to financial reasons if i drop the Pravasi Bandhu chitty after one year will I get back full money that i have paid till then? Please do explain in detail.
Madam, Thanks for visiting.
ReplyDeleteAS for your doubt, you are likely to get more amount than what you remitted.
For example, suppose you have remiited 12 installments of a chitty of 3 lakhs (Rs.10000 x 30 montsh). The total amount you remitted can be, for example, 85000/- (provided you get Rs.15000 as dividend for the first 10 instalments). Once the chitty is over, you will get Rs. 95000/-.
We calculate the total amount you remiited as Rs.100000/- (Rs. 10000 x 10 months). We deduct 5% foreman commission from the amount you paid. You will get Rs.95000/- (100000-5000). We may deduct any other charges applicable from time to time, such as postage or service charge. Even after deducting these charges, you are likely to get about Rs.94600/- in this particular example.
In short, we give dividend even for defaulting customers. Hope it is clear.
Pl can u send me another Chitti details
DeleteBhanu Prakash. Please send your email address.
DeleteHi all
ReplyDeletemy name is toni from attingal. I wish to know about the terms and condition including payment mode about pravasabandhu chitty. Now I am working in qatar. My contact deatils are given below
tonimani@gmail.com
Dear Toni
ReplyDeleteWe have sent you a mail. Please check your mail. Thanks for visiting.
Hai I'm Manzoor from Oman, would like to know more about pravasi chitties. Also i have been already taken 2 norsmal chitties.
ReplyDeleteeI woulid like to jtoin pratvasi chitteis.......so please send me the details to manzooree@gmail.com
Dear Manzoo
ReplyDeleteWe have sent you a mail. Please check your inbox
hi,
ReplyDeleteI want to know if i can send the remittance for ksfe through dd within india.
Shinoy,
ReplyDeleteYou can make remittance through demand drafts from all the major banks. Take the DD in favor of the KSFE branch in which you have chittty. Thanks for visiting.
HI
ReplyDeleteI am working in uk. I do not know much about chittis.If I am paying 20000 for 25 months and if my return is only 500000 what is my profit??? 0% intrest rate?? pls explain how it works... alexleena@yahoo.com.sg
thanks
Thanks for the question, madam.
ReplyDeleteTo learn how chitties work, visit this link.
Please understand that for the chitty Rs. 20000 x 25 months - you do not have to pay Rs. 500000/-. You will get dividend. This is your profit. Also, you will get the prize amount, well before you remit the completed installments. You can put it an FD and avail interest, if you wish to. Please go through the above-linked page to get a clearer idea.
Hi, i am riju working in saudi arabia and i would like to join a new chitty starting from next month. Please provide me the new chittis detais. This is my emai - rijupallickal@gmail.com
ReplyDeleteRiju,
ReplyDeletePlease check your inbox. We have sent the application form and other details in an email.
Hi,my name is Mithun.I would like to know the details of chitties that i can join from next month.So please send me the details.My e-mail id is: mithunm001@gmail.com
ReplyDeleteMithun
ReplyDeleteWe have sent you an email. Please check your inbox.
Please specify your native place in Kerala, so that we can direct you to the nearest branch.
Hi There,
ReplyDeleteI would like know more about Pravasi Bandhu chittu. Iam residing in Australia so would like to know the possible mode of payments to Thoppumpady (Ernakulam)branch. It would be appreciable if you can help me asap so that I can join next month itself..
My email Id :minootty_41@yahoo.co.in
Minu, thanks for the comment.
ReplyDeleteKSFE has been launching two special schemes over the last three years: Ponnona chitty and Pravasibandhu chitty. The chitties during special schemes offer additional benefits to the customers in the form of prizes and privileges. The basic idea behind the schemes is to share the company’s profit with the customers.
Ponnona chitty
Ponnona chitties are launched during the time of Onam. The prizes of this scheme include cars, motor bikes, and gold coins and privileges include enhanced interest rates for fixed deposits, insurance protection, and special loan schemes.
Pravasibandhu chitty
The pravasibandhu chitty scheme is normally launched in November. The prizes include cars, flight tickets to Dubai, and gold coins. The privileges remain the same as that of ponnona chitty.
In other aspects, the chitties of these schemes are like any other KSFE chitty.
Pravasibandhu chitty scheme closed on February 19, 2011. Now you can enroll in regular chitties. We have sent an email, detailing the branch address and with the application in PDF format.
Hi, my name is Betty..Im currently working in Kuwait and is interested in Ponnona or Pravasibandhu chitty..Kindly send me details of both these chitties..also note Im settled in Mumbai hence it will be difficult for me to choose any one particular branch in Kerala..would appreciate if you could help me out with this..You may get in touch with me at bettystephen@gmail.com
ReplyDeleteThanx!!
Betty, Thanks for showing interest in our chitties. At present, we do not have any branches outside Kerala. We would be happy to enroll in one of the chitties in our branch. But please bear in mind that you will have to come to the branch at least once, preferably at the time of receiving prize money. If that's okay, then we can proceed. We have sent a mail to the email ID provided. Please check your inbox.
ReplyDeletehello sir
ReplyDeletemy name sajimon working in qatar i need a new chitty how can join pls send to my email id sajisaleem@gmail.com
Sajimon, Thanks for the comment. Mail sent to the address provided.
ReplyDeleteHi
ReplyDeleteMy name is Anish. I am working in Qatar .can you please send me more details about Pravasi Bandhu Chitty's.i belongs to varkala,TVM,Kerala. and have an NRI account in SBT..is it possible can i pay through my NRI acco. please mail me the details my id- connectanish@gmail.com..Thank you
Anish kumar
ha and please send me the forms aswell...
ReplyDeleteAnish kumar
Anish
ReplyDeleteThanks for visiting.
Mail sent to your email ID.
Hi, my name is Praveen Im currently working in UAE, Iam interested in Ponnona or Pravasibandhu chitty. Kindly send me details of both these chitties. You may get in touch with me at praveenlal2179@gmail.com
ReplyDeleteThanx!!
Praveen,
ReplyDeleteThanks for commenting.
Mail sent to the email ID provided.
Dear Sir,
ReplyDeleteMy name is Arvin working in Abu dhabi, I would like to join the pravasi bandhu chitty scheme, It will be highly appreciated if you could send me the terms and condition and payment mode which are accepted. My contact details are shown below.
Mob-00971557794368,
Email- josepharvin85@gmail.com
Thanks & Regards
Arvin
Arvin,
ReplyDeleteThanks for showing interest in our chitties. Mail sent to the email ID provided.
Hi all
ReplyDeletemy name is johnson from abudhabi. I wish to know about the terms and condition including payment mode about pravasabandhu chitty and other chitties.My contact deatils are given below
johnyjoseee@gmail.com
Johnson Jose,
ReplyDeleteThanks for coming. Mail sent to the email ID provided.
Dear sir,my wife have chitty in Thodupuzha branch.now we are in abudhabi. so pls give the details of payment through online .
ReplyDeletemy mail id-johnyjoseee@gmail.com
Johnson Jose,
ReplyDeleteMail sent to the ID provided. Thanks for asking.
dear sir,
ReplyDeleteMy name is Nawab jan. I am from ksa. I want to know wheather you are starting a chitty of 5lakhs which will finish within 40 months and about the mode of payment in Konni branch. You can contact me at rihana_razak@yahoo.com
Razak,
ReplyDeleteThe chitty you require is Rs. 12500 x 40 months- Rs. 5 lakhs. But it is not a common chitty pattern. Anyways, please contact KSFE Konni branch at this address:
KSFE, KONNI
ELANJIKKAL BUILDING,POST OFFICE ROAD
KONNI.PIN - 689 691
Phone : (0468) 2242417
MOB: 9447797161
E-mail : 161@ksfe.com
Other chitty patterns you might be interested are
Rs. 10000 x 50 months - Rs. 5 lakhs
Rs. 10000 x 30 months - Rs. 3 lakhs
Dear Sir,
ReplyDeleteWhether KSFE has any branches outside kerala? I am from haripad & I live in Coimbatore. Can you please explain me how can i make use of KSFE services being in Coimbatore? Its difficult for me to send Cheque leaves every month to Haripad branch. I am mainly interested in online banking usage.
BR,
Renjith.
Renjith MR
ReplyDeleteThanks for your comment.
KSFE does not have any branches outside Kerala at present. From what we understood from your comment, we can only suggest two options: 1. Start a chitty in a KSFE branch in Palakkad, which is near to Koimbatore or 2. start chitty in Harippad branch and transfer funds through NEFT.
You can get details of all the branches of KSFE in Palakkad district from this page: http://www.ksfe.com/branchlist.htm#pkd
As for joining Harippad branch, we don't know whether they support online transfer facility, which is available in only selected branches of KSFE. Please check with the manager of KSFE, Haripad. They have a blog: http://ksfehpd.blogspot.com/
And their address is
KSFE, HARIPAD
ALAMPALLIL BUILDING,
NEAR K.S.R.T.C. BUS STATION
HARIPAD, PIN - 690 514.
Phone : (0479) 2412792
Mob: 9447797060
E-mail : 60@ksfe.com
Hope it's clear.
Dear Sir,
ReplyDeleteIn your reply to Mr Razak you have mentioned that the chitty 12500 x 40 is not a common chitty pattern. Can you please explain the difference between common pattern and otherwise?
Dear sir,
ReplyDeletei am Shihab from ksa. I would like to join the pravasabandhu chitty and other chitties.My contact deatils are given below.can you please send me more details about chitty. and have an NRI account in SBT kilikolloor Br.Kollam DT.is it possible can i pay through my NRI account.please send to me details.
i am interesting to chitty open in kundar br. kollam.
Ph:00966552757364
epshihab@gmail.com
epshihab,
ReplyDeleteThanks for your comment. Pravasibandhu chitty has been discontinued. We have another scheme now instead: Suvarna Sreyas chitties. Hope you would like to join in that scheme. A detailed mail sent to your mail ID. Happy New Year!
Dear sir,
ReplyDeleteI am a NRE working in UAE, I would like to know about any new chitties starting for the period of 5 years/60 months by this new year? My nearest branches are in Chalakudy / Irinjalakuda
Reghunath
Abu Dhabi
Reghu, thanks for your comment. Here are the contact details of KSFE branches in Chalakudy and Irinjalakuda:
ReplyDeleteKSFE, CHALAKUDY
MUNICIPAL BUS STAND BUILDING
SOUTH JUNCTION, CHALAKUDY
THRISSUR -680 307
Phone : (0480) 2701685, Mob: 9447797019
E-mail : 19@ksfe.com
KSFE, CHALAKUDY EVENING
PAUL ARCADE, I FLOOR,
R.S. ROAD, CHALAKUDY
THRISSUR -680 307
Phone : (0480) 2709 549, Mob: 9496013357
E-mail : 357@ksfe.com
KSFE, IRINJALAKUDA
CHITTILAPPILLY TOWER
OPPOSITE TO TOWN HALL, NADA,
IRINJALAKUDA - 680 121.
Phone : (0480) 2826827, Mob: 9447797039
E-mail : 39@ksfe.com
Both Chalakudi Evening and Irinjalakuda branches have Rs. 5000 x 60 months chits. You can get the details of other chits of these branches from this page: http://www.ksfe.com/newchits.htm
This comment has been removed by the author.
ReplyDeleteSir,
ReplyDeletePlease send me the details of Suvarna Sreyas chitties to my mail, swathi77p@gmail.com
sw@th!, Thanks for the comment. Mail sent to your email ID.
ReplyDeleteDear Sir,
ReplyDeletemy name is kumar working in dubai,,i would like to know the details of pravasi bandhu chitties,,
if you dont mind can you please send the details to my mail id,,,
Kumar, Thanks for your comment.
ReplyDeleteWe do not have your email ID. So can't send mail to your ID.
Pravasibandhu chit scheme has been stopped. Now KSFE offers Suvarna Sreyas chitty schemes. It offers gold prizes. First prize is 25 sovereigns of gold and second prize is 10 sovereigns of gold.The scheme also provides special car loan facility and special chitty loan option.
Kindly send your address in Kerala. We shall direct you to the nearest branch of KSFE.
Dear Sir /Madam ......
DeleteMyself sheeja, working in UAE ...I would like to join in the pravasi chitti scheme starting from feb 2012 , what should I do for this ?..Please send me the details to sheejaskumar2703@gmail.com...Your help will be highly appreciated .Thanks
Hi ....If the pravsai chitty scheme has been stopped then you can send me the details to join the scheme advised to Mr.Kumar...Thanks
DeleteHi,
ReplyDeleteplease send me the details of Suvarna Sreyas chitty schemes, i am working in dubai, my email:nblkv@yahoo.co.in
thanks
sheeja, nab
ReplyDeleteThanks for your comments. Mails sent to the email IDs provided. Kindly reply.
I am Mr.Prem Jose Antony working in Abudhabi.Could you please suggest me a good chitty scheme and I am looking for a small investment scheme. Would like to do payment through online. Please send me the details. Hope you will direct me and help me in clearing my doubts as I dont have clear idea regarding this. Thanks in Advance
ReplyDelete.premjose786@gmail.com
Mr. Prem Jose Antony
ReplyDeleteThanks for visiting our blog and expressing interest in chits. Mail sent to your mail ID.
To others: Kindly mention your home town in Kerala, so that we can direct you to the nearest branch of KSFE. Thanks.
I am sasikala from QATAR COULD YOU PLEASE SUGGEST ME A GOOD CHITTY SCHEME AND ALL DETAILS . MY NEAREST BRANCH IN PATHANAMTHITTA. HOPE YOU WILL HELP ME IN CLEARING MY DOUBTS.
ReplyDeleteTHANKS
Sasikala
ReplyDeleteThanks for your comments. We have a number of chitty schemes. If you want avail prize money quickly, it would be better to join short-term chits (25 months, 30 months or 40 months). If you look for high dividend schemes, 100-month chits are for you.
If you have any specific doubts, feel free to ask. It would be better if you contact the manager of Pathanamthitta branch of KSFE:
KSFE, PATHANAMTHITTA I
KUZHIYIL BUILDING, OPP.MUNICIPAL OFFICE,
MARKET ROAD, PATHANAMTHITTA - 689 645
Phone : (0468) 2222436
Mob: 9447797033
E-mail : 33@ksfe.com
KSFE, PATHANAMTHITTA II
N.S.S. BUILDING, PATHANAMTHITTA P.O.,
PATHANAMTHITTA - 689 645
Phone : (0468) -2325511
E-mail : 321@ksfe.com
sir/madam
ReplyDeletemy name is lijina,i would like to know about the new chitty plans ,interest,and the other details.could you please send me information at "lijina007@yahoo.com
thanking you,
lijina rashid
uae
Lijina, Thanks for your comment. A detailed mail sent to your mail ID. Waiting for your response.
ReplyDeleteDear Sir,
ReplyDeleteMy Name is Vinu Cleetus and i am from Qatar. I very much wish to start a new chitty with KSFE. But I am not much of an expert on how chitty works.PLease advice me on the following.
1)About the various chitties that are available at your end.
2)Mode of Payment? Can I make payment from my SB Account
3)Can I start my account when I am here at Qatar.(My Parents can visit the Branch)
4)Offers or Benefits of joining a Chitty
5)Service Charges or Fees if any
My Emaid - vinucleetus2005@gmail.com
00974-66060527
vinucleetus2005
ReplyDeleteThanks for your comment. A mail sent to the email ID provided. We are posting your questions and our answers here as well.
1)About the various chitties that are available at your end?
We have chits ranging from monthly installment amounts ranging from Rs. 1000/- Rs. 100,000/- and duration ranging from 25 months to 100 months. Subscribers can choose a pattern according to their requirement.
Chitties can be used either as loans or as savings. Short-term plans (duration less than 40 months) are good as loan schenes, while long-term chits (duration greater than 50 months) are good savings scheme.
The following are common chit patterns in KSFE:
Rs. 50000 x 30 months - Rs. 15 lakhs
Rs. 25000 x 40 months - Rs. 10 lakhs
Rs. 20000 x 25 months - Rs. 5 lakhs
Rs. 10000 x 30 months - Rs. 3 lakhs
Rs. 5000 x 40 months - Rs. 2 lakhs
Rs. 2500 x 40 months - Rs. 1 lakhs
Rs. 10000 x 100 months - Rs. 10 lakhs
Rs. 5000 x 100 months - Rs. 5 lakhs
2)Mode of Payment? Can I make payment from my SB Account?
We have three modes of payment: 1) direct remittance at branches, 2) through cheques or DD, 3) door collection (agent will come to your shop or home). Some branches of KSFE provide online transfer facility from the subscriber's account from their bank account.
3)Can I start my account when I am here at Qatar.(My Parents can visit the Branch)?
You can start chits from Qatar. We are attaching an application. Kindly take a print-out, fill in details on page 4, and send the print-out to your parents (or directly to the branch).
4)Offers or Benefits of joining a Chitty
Now we have Suvarna Sreyas chit scheme. The scheme offers 25-soverign gold coins as first prize. At least one customer from each chitty will get 1-gram gold coins.
5)Service Charges or Fees if any
We charge 5% of chitty as foreman commission as per
Chitty act of Kerala. Other than that, KSFE charges Rs. 200 as documentation charge. In addition to that a service tax of 7.21% of Foreman commission is deducted from the customer to be remitted to central excise department.
Hope the answers are clear. Kindly send you home town details in Kerala. We shall direct you to the nearest branch.
Dear Sir, this details was very helpful... i have a concern... Would you please give me the names of branches which have online payment facilities in ernakulam?? thank You....
Deletesabin.. (sabinjoy4@gmail.com)
Dear Sir:
ReplyDeleteI reside in Canada and am from Thoppumpady EKM. I would like to know if I can just have a Sugama deposit with KSFE without joining any chitty?If so, what are the formalities?
Also, can I make payments to my father's chitty from Canada?Does Thoppumpady branch support online transfers? Is chitty/deposit only for Indian citizens? Are there any new chitty schemes soon available?
My contact id is princygem@gmail.com
Thank you for your support.
Princy
Princy
ReplyDeleteMail sent your ID. Sorry for the delay.
Dear Sir,
ReplyDeleteI am in Canada.. I would like to start a chitty.. and may I know whether I could pay online??? and how could I start a new chitty??? my native is ernakulam.. please forward me details to sabinjoy4@gmail.com..
Thank you....
Sabin,
DeleteThanks for your comment. A detailed mail sent to the mail ID provided, along with the application form.
Dear Sir,
ReplyDeleteIm Sajeev, working in dubai wants to know about 'Pravasi bandhu chitty' schemes and details. Pls send me in this ID : sajeev.arch@gmail.com
Hi,
ReplyDeleteIm Manoj, settilled in Mumbai.I wants to know about Pravasi bandhu Chitty schemes and details. Please send me in this ID. manojsomanadhan@gmail.com
Remesh
ReplyDeleteI am Remesh working in Muscat. I want to know about Pravasi bandhu Chitty for 100 months and Sala Rs.20 Lakhs. If any chitty is there like this please send me in this ID. Remeshkumar51@yahoo.com
Dear sir
ReplyDeleteKindly snd the deatis of pravasi bandu chittii
Hw to open it ? Tell me the procedure ?
Snd me the details to shabin.pharma@gmail.com
Dear sir
ReplyDeleteKindly snd the deatis of pravasi bandu chittii
Hw to open it ? Tell me the procedure ?
Snd me the details to shabin.pharma@gmail.com
Dear sir
ReplyDeleteKindly snd the deatis of pravasi bandu chittii
Hw to open it ? Tell me the procedure ?
Snd me the details to shabin.pharma@gmail.com
may I know the date of launch of Ponnona Chitty 2012 and its details?
ReplyDeleteSaju. The exact date has not been finalized date. The first of August is the most likely date.
ReplyDeleteSaju, new scheme starts from tomorrow. Visit this page for more details: http://atlevg.blogspot.in/2012/07/ksfe-launches-onam-special-chitty.html
DeleteDear sir
ReplyDeleteKindly send the details of pravasi bandu chittii.
nameer797@gmail.com
Thank you
Dear sir,
ReplyDeleteI am Muhammed Riyas from Qatar. I very much wish to start a new chitty with KSFE. Plz send the terms and conditions including payment mode and common chit patterns about Suvarna Sreyas chit scheme and other chitties.My contact deatils are given below
riyaasmhmd@gmail.com
Thank you
Sir,
ReplyDeleteIf somebody could not collect the prize money personally as you have suggested at the termination of the chit , what you will do with that prize money? Do you keep that money till the member reach your office after one or two or three years, without interest? Or you put this money in fixed deposit on a written request of the member? If the written request is by e-mail, will you accept? On request of the member do you put the prize money in member's account in a nationalized bank in your city?
aniyachayan, thanks for raising the queries.
ReplyDeleteFirst, let me state that the instances you mention happen very rarely. We regularly intimate the subscribers and ensure that they avail the prize money.
Here are the answers to your questions:
Q. If somebody could not collect the prize money personally as you have suggested at the termination of the chit , what you will do with that prize money? Do you keep that money till the member reach your office after one or two or three years, without interest?
Ans: After the termination of chitty, if the prize money remains not paid, we can put the prize money only as a savings account. We can provide our savings account interest, which is 5.5% at present, to the prize money.
Q. Or you put this money in fixed deposit on a written request of the member? If the written request is by e-mail, will you accept?
We can deposit the money as fixed deposit up on request of the subscriber. The subscriber needs to sign on a few documents. We can send the papers to be signed to the customers up on request. The subscriber needs to send the signed papers by post or courier.
That is simply sending a written or email request shall not be sufficient.
Q. On request of the member do you put the prize money in member's account in a nationalized bank in your city?
We frequently transfer prize money to the subscriber's account in all commercial banks. This can be done by sending cheques, but sending money through online transfer (RTGS) is more common these days.
Please bear in mind that the formalities of payment, like signing the documents and providing sufficient security, should be done for carrying out bank transfer of prize money. If it is at the end of the chitty, and the subscriber has completed the chitty installments, no need to provide any security.
Hope it is clear.
Hi Sir/Madam,
ReplyDeleteI would like to know which are the branches that would allow the online payment of the monthly installments.
Is it necessary that I need to approach the concerned branch initially for joining the Chitty or would it suffice if I approach the branch at the time of collecting the Chitty amount.
Please send your responses to rc.27187@gmail.com. Thanks in Advance
Regards,
RC
sir,
ReplyDeletein your manual of procedure,it is mentioned that where a property is offered for a second or subsequent time,generally an application in form prop 1 is sufficient.where do i get the latest circular regarding ? what is the circular number ?
if a subscriber ,who availed chitty loan and fails to pay either chitty installment,what will be the action from your side ? is there any circular.
sir,
Deleteplease reply for the above
Sunil
DeleteWe have forwarded your query to a senior official, who is well known for his mastery of our rules and circulars. Waiting for a detailed reply from his side. We shall publish it as soon as we receive his reply. Sorry for the delay.
Iam abinesh now in Malaysia,I would like to have information regarding the new chitties from KSFE.
ReplyDeleteLooking for ones with monthly payments 5000 to 7500. Also i need guidance to enroll to a chitty from here. Iam from vadakara, kozhikode. Am i required to go to the branch for the same.Also needs more info about suvarna sreyas as well along with general terms and conditions.
My contact details: abinesh82@gmail.com
Thanks in advance.
thank you,i shall wait.
ReplyDelete1. Hi, my name is Boney Joseph..I’m currently working in Saudi Arabia and is interested in Ponnona or Pravasibandhu chitty..Kindly send me details of both these chitties..also note I’m settled in Kottayam would appreciate if you could help me out with this..You may get in touch with me at boneyjosephktm@gmail.com
ReplyDeletewhat are the documents on which the mortgagor and subscriber to be signed to release the chitty payment
ReplyDeleteSubscriber and mortgager need to sign the following documents:
Delete1. Property 1
2. Affidavit (printed on a bond paper of Rs. 50)
3. Property 5 (Mortgager only)
4. Property 8
5. Document register (Property 4)
6. Payment voucher (Subscriber only)
Also, the subscriber needs to produce the following documents of the property to be pledged:
1. Original title deed of the property (and prior deeds, if any)
2. Encumbrance certificate of the last 14 years (available from Sub Registrar's Office)
3. Location certificate (available from Village office)
4. Sketch and map (available from Village office)
5. Possession and enjoyment certificate (available from Village office)
6. Up-to-date land tax receipts
Ramesh, all the above-mentioned documents to be signed (that is, Property 1, Property 2, Property 4, Property 5, Property 8 are available at all branches of KSFE.)
Deletethank you,i think that the mortgager need to sign in one document only.property 5.all the other documents by the subscriber.the mortgagers are in abroad.i think that branch will give to me for sending the same to the mortgager for getting their signature.i hope 1,2,4,5,6 by subscriber only and 3 by mortgager only.am i right ?
ReplyDeleteRamesh, It is not like what you think. Sorry to have confused you. Let me explain. My reply does not mean that the mortgager needs to sign on Property 5 only. Instead, it means that on Property 5, only the mortgager needs to sign (no need of subscriber's signature). In fact, the mortgager needs to sign on Property 1, Affidavit, Property 4, Property 5, and Property 8.
ReplyDeleteIf the mortgager is not in the country, there are bound to be legal constraints too. Please check with the manager of the branch.
thank you. sorry to tell u that after gone through u r site,i am not satisfied. because the proposal of the site should b genuine and should b for public interest.one sujatha or sangeetha madam,some times in 2010 sent a query to you on her investment.according 2 u,she will get 10000 rupees more for her her investment of RS 85000 after 20 months ! ?.
ReplyDeletesecondly u have not sent any rely to MR SUNIL .who asked about your manual of procedure issue.is the MOP is 4 u people only,i mean 4 ksfe officer or 4 public.
Thanks for your critical remarks, Ramesh. This is perhaps the first time we think someone has taken the trouble of critically reviewing the blog. We shall try to improve it as far as we can, as our intention is to provide maximum information to the public.
ReplyDeleteBut we would like to make one thing clear. We have never tried to mislead any one or to provide wrong figures. The dividend for chitties vary, based on the duration, subscription amount, and the need of the subscribers. Sometimes, the same pattern chitties offer different amounts as dividend. We always provide genuine figures based on past trends.
In the case of Mr. Sunil, we are kind of helpless. We are not able to trace a copy of the circular he requires. Our branch started only in 2008. So, we do not have copies of old circulars. We have forwarded the query to another official, who is well-versed with circulars and known to have personal copies of all circulars. We are still waiting for his reply. We shall publish it as soon as we get his reply.
As for MOP, it is Manual of Office Procedure. It is certainly intended for the officials. We, personally, see no problem in public reading it, but don't know whether it is of any use to them.
sorry to disturb.i am back to you. mop and circulars are not a property of your own.u should have some courage to disclose it.all the ksfe officials are not like you.do agree that some of them are fraud.they will hide it for their own profit.so it is your duty to publish the same for the public.
ReplyDeletesecondly i have to ask you that some one join in your chitty,ie for 500000.u give 50% as ncl agains security worth 500000.he bid the chitty with a future liability of 495000.he dont have anything to give u for future liability.in this case how you close his chitty loan.
ramesh,
ReplyDeleteHere is a link to our MOP: http://www.ksfe.com/Downloads/mopnew.pdf
As for circulars, we can only upload the circulars that we have as soft copy.
We certainly don't agree with your comment about ksfe officials being fraud. We can safely say that we are an absolutely corruption-free organization. That is because of two things: the value-based culture we have in KSFE and extremely stringent audit practices we have.
Please refrain from making sweeping remarks. If you have specific complaint about specific employees, go ahead and inform the higher authorities. Anyways, we think enough has said about this matter. Please understand that we operate at branch level. While we can provide information about general aspects of KSFE, we are not authorized to do anything happen in other branches. So, it's time to conclude.
For any other communication on this regard, please contact mail@ksfe.com
really apreciate KFSE for replying each and every queries which is posted here which I never seen in a public sector. seeing this I am interested in joining a chitti.. let me go through your site :)
ReplyDeleteThanks for your compliment, biswas.
ReplyDeleteDear Sir,
ReplyDeleteI would like to know more about Pravasi Bandu chitty. Kindly send me the details to its_me_viji@yahoo.com
Thank you and kind Regards,
Vigi Rajesh
Dear Sir,
ReplyDeleteMy Name Is SALEESH M ,I’m currently working in UAE and is interested in Ponnona or Pravasibandhu chitty..Kindly send me details of both these chitties.. I’m settled in WAYANAD(MEENANGADI)AND MY E-MAIL ID IS saleeshmgdi@gmail.com.
hi do u have any branches in mumbai kindly comment.or mail me the details on stanlee1978@gmail.com
ReplyDeleteSend me the aplication in my email..chikku7392006@gmail.com..iam in uae..resident in iritty..kannur dist
ReplyDeleteI am Ansiya working in uae.Could you please suggest me a good chitty scheme and I am looking for a small investment scheme. Would like to do payment through online. Please send me the details. Hope you will direct me and help me in clearing my doubts as I dont have clear idea regarding this. Thanks in Advance
ReplyDeleteansunafis@gmail.com
Dear Sir,
ReplyDeleteMy Name Is George Mathews ,I’m currently working in UAE(Sharjah) and is interested in Ponnona or Pravasibandhu chitty.Kindly send me details of both these chitties.. I’m settled in ALUVA AND MY E-MAIL ID IS george2mathews@gmail.com.Please provide me the details of mode of payment for this chitty fund(DD OR NEFT TRANSFER (from account in India)if the join these chittys
Hey,
ReplyDeleteAm Joseph from Canada,I would like to know more about different schemes of KSFE and the pravasi bhandhu chits as well,along with the starting dates.
Jilu.jiss@gmail.com
Helo,
ReplyDeleteI'm sajith menon from Abudhabi.want to join KSFE chittis if any scheme available for NRI's.tks
Please reply to me at sajith747@gmail.com.