jayapriya chit funds

chits informations

The Rules followed by Jayapriya chit funds (P) Ltd - ( In compliance with the central Chit Funds Act 1982)

Auction Procedure:

Flat 40% discount is provided for physical Auction. Customer\`s can ask for auction amount to their wish and get Benefit Auction Amount.

Chit dividend:

Chit Dividend amount should be equally divided and given to all the customer from the second month till the last month of chit period.

Security:

Customer has to submit any one of the security proof\`s to get the chit auction amount.

Proof\`s Required:

  • Pay slip of Employee.
  • Taxpaying Business people have to show the bank guarantee proof.
  • Submit the Assert value for double the amount of Installment value.
  • The security value should be reduced if the customer has paid more than half of his instalment period.
  • Company has full rights to accept or reject the security proof of the customer.
Chit Value No.Of Person\`s for Security
Rs.1,00,000 /- 1
Rs. 2,00,000 /- 2
Rs. 2,50,000 /- 2
Rs. 5,00,000 /- 3
Rs. 10,00,000 /- 4

Auction Amount Distribution:

According to government rule, the company will distribute auction amount in 30 days. The chit auction amount is given in the form of crossed cheque to the customer.

Commission:

Only 5% commission is available for the company.