KSFE ‘s gift for Pravasi are lone, insurance and pension along with investment. Pravasi chits offer a lot of features for its customers. Chit liability waiver and optional pension scheme are the major features incorporated in the chits.Pravasi chit fund of KSFE launched by the Kerala government has evoked good response from the NRI’s in UAE. KSFE had assets worth as of 31 july 2019, 576 crore. That is the government allows chit up to 5760 crore.KSFE currently operates 1750 crores of chits. KSFE can still conduct chitties worth of chits Rs 3888 crores. In this space that the pravasi chits focuses.
It provided the promoters follow the strict rules that have been laid down for them. This chitty scheme is a fund raising instrument of Kerala infrastructure investment fund board, that mobilises funds for the state governments long-term developmental projects.
Joining Pravasi chitty, making payments and bidding are all through online. We can operate the chitty from any corner of the world.
An important chit of KSFE is a chit worth Rs 10 lakh, if you pay Rs 10000 rupees for 100 months.
Maximum deductible amount 25 % – 250000 KSFE Commission – 50,000 Amount received in hand – 700000
If you get a Chitty first Month
700000 +( 8 % interest +99 months )=1162000
If you get a chitty 45th month
7 lakh + (8 % interest + 55 month)=956666
The earlier you get this chit, it is very profitable.
Divident
10,000 × 25 % = 250000
250000 ÷100 =2500
We get the divident Rs 2500 per month for 50 months.
Monthly payment – 10000
Interest – 4666
Divident – 2500
Amount actually payable – 2833
Benefits
- It offers 8- 18 % returns.
- Free life insurance.
- Insurance for partial or fully disability
- Optional pension
We get the chit, we want to get that amount we need any of these documents.
- Land documents
- Gold
- Salary certificate.
- Fixed deposit bond
- Bank guarantee
- LIC Bond
Who have to give these documents for the amount we pay. We do not need to pay any remaining documentation after paying overdues. We get that amount without documents. No security is required to deposit this amount in KSFE. Similarly KSFE default chits are very useful, if you need a home loan.
Tax
12% KSFE Commission /0.6 % of Chitti Sala needs to be paid to the Government as GST.
Chitty follows Sharia law.
When we are unable to pay/ Chitty expire or someone else takes over our chits , we will get back the full amount we paid.
- If you pay 10 % of the total amount upto 50 % of Sala will be paid as KSFE loan.
- Every member who joins a Sala upto 10 lakh will get insurance coverage.
- Inability to work due to death or serious disability, the amount payable will then be paid through LIC insurance.
- Insurance coverage is available if you called upon the city.
- If you lost your job and return home don’t be afraid of losing money.
- We have the facility to make payments from Kerala.
- It is for Pravasi’s living abroad with Visa and passport join the Pravasi Chits.
How to join Pravasi chitty online
- Arab countries( Bahrain Kuwait Oman Qatar Saudi Arabia UAE) except Iraq, European countries Pravasi’s can apply.
- Visit website www.pravasi.ksfe.com /
Pravasi app.
- ID of the working country /labour ID is required.
- Get a user id and password.
- To complete KYC after login.
- Upload the documents( passport, visa, labour id, national ID, photo)
- After approve the KYC, receive notification as email.
- Suggested nominees can join the required chitty from website.
- After joining the chitty using a bank or Debit Card payment can be made.
Call centre number
0471 666 1888
0471 444 9111