KSFE Launches a New Scheme - SWARNA VARSHA 2011

KSFE is all set to launch a brand new scheme on the eve of Onam this year. The new scheme, titled SWARNA VARSHA 2011, is what its title indicates. It's a monsoon of gold, the most precious investment in these times. The finance minister of Kerala, Mr. K.M. Mani will launch the scheme on August 17 at a function to be held at Hassan Marikkar Hall, Thiruvananthapuram.

The main attraction of the prizing scheme is 40 gold coins of 5 sovereign (about 40 grams) each. The winners of the gold coins will be selected through a state-wide draw of all the customers joined in the scheme. The prizing structure will be such that every region will get their share of prizes. Thiruvananthapuram region, where KSFE Attingal Evening Branch belongs to, will have six gold coins.

In addition, gold coins of one gram will be distributed at branch level for each chitty. One lucky customer from every chitty with less than 50 subscribers and two lucky subscribers of every chitty with more than 50 customers will get the gold coins. The lucky winners will be determined by draw of lots along with the first auction of the chitty.

The other value-adding features of SWARNA VARSHA 2011 are the following:

1. Loan Facility: Subscribers of this scheme can avail 50% of the total chitty amount as loan after remitting 5% of total installments. That is for a 100-month chitty of Rs. 10 lacs, a customer can avail a loan Rs. 5 lacs after remitting the first five installments.


2. Swarna Varsha Car Loan: This loan scheme is available for all chitties with a sala (total amount of the chitty) of Rs. 5 lacs or more. 85% of the road cost of the vehicle or 70% the sala, whichever is less, will be given as loan. Half the cost of the vehicle will be accepted as security.


3. Liability Waiver: In the unfortunate event of the death of a customer, KSFE will waive the liability for SWARNA VARSHA 2011 in the following manner. Nominees of non-prized subscribers will get the entire amount back. KSFE will give the dividend for the installment remitted and will not deduct the formation commission from the amount. For prized customer, in the event of the subscriber's demise, a maximum liability of Rs. 2 lacs will be written off.

We invite all the readers to join SWARNA VARSHA 2011 chitties.