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Chit is a contract whereby a group of people contributes towards the chit value and one member from the group is given the prize amount every month by auction and the auction dividends are distributed to all the other members.
It offers flexibility to borrow or save. Paying the installment amount, a person can borrow from the chit fund, by offering a discount not exceeding the maximum limit stipulated in the chit agreement. The dividend from chit fund is comparatively higher than the bank interest rate.
Manappuram chits are having a wide range of chit groups available. It has a wide range of Chit values starting from Rs.1,00, 000/- to a maximum range of Rs.5, 00,000/
1. Customer has to pay the first installment amount either online or at the branch. 2. On receipt of the payment, customer has to acknowledge the receipt.
Vasyas is carrying chit business only complying 100% with The Chit Fund Act 1982. Moreover Vasyas makes a Security deposit equal to chit amount in a Scheduled Bank in the name of Registrar of Chits.
A member can participate in, auction from the second month, only if he or she has made the payments up to date. If paid by cheque, it should be realized before the auction date.
Displays all the chits held by you. To view a particular Chit, you have to click the chit reference number. Information of that particular chit will be displayed.


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