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 (or its many other variants):
When is KSFE going to start a chitty that can be operated fully online?
Usually we go silent when confronted with this question - or provide some feeble excuses. But that is no more the case.
KSFE's online chitty scheme that Pravasis have been looking for is here. Just one more month remains for its lauch.
You can start chitties online, remit monthly installments online, and even participate in auction online.
We know it is a bit late in coming. Still, we at KSFE are justifiably proud and happy about its imminent introduction. We welcome you all to the new chits.
It will be inaugurated by Kerala Chief Minister Sri. Pinarayi Vijayan next month.
Operate through website or mobile app
- Join chitties through website or mobile app
- Remit installments with debit cards or internet banking through payment gateways
- Participate in chitty auction at a scheduled time through website or mobile app.
- Unlike traditional KSFE chitties, the monthly installments subscribers remit for KSFE Pravais chitties go directly to Kerala Infrastructure Investment Fund Board (or KIIFB). KIIFB finances development projects in Kerala, such as construction and renovation of roads and bridges and building better facilities at schools and colleges. For a list of KIIFB schemes in various parts of Kerala, visit here. In other words, you can engage in visible and measurable social service, simply by joining chitties.
- KSFE Pravasi Chitty scheme offers a unique pension plan for Pravasis in association with LIC. Subscribers can put the prize money of Pravasi Chitty as pension fund deposit in LIC and specify an age after which they need to get monthly pension. The same pension fund deposit can be treated as security for the chitty (that is, no additional security is required). All one has to do is to complete the chitty installments. When they reach the specified age, they will start getting the monthly pension. The scheme can be opted in such a way that the spouse will get monthly pension after the demise of the subscriber and the nominee will get the lumpsum amount remaining in the pension fund after the demise of both subscriber and spouse.
- Another salient feature of KSFE Pravasi Chitty scheme is insurance coverage. If unfortunately the subscriber dies or suffers permanent disability, the company will remit the subscriber's remaining installments regardless of whether the subscriber availed the prize money or not. If the subscriber has not availed the prize money, it will be given to the nominee. In the event of death, the company will bear the airfare of bringing the dead body to the native place, including the airfare for the accompanying person.
The website and app for KSFE Pravasi Chitty will be launched in December. If you have any queries or doubts, please call to the Help Desk of KSFE Pravasi Chitties @ 04712737888.