is Chitty Loan For?
Chitty Loan is a bridge between your actual financial need and
the delay in chitty getting prized in your favour
When am I eligible for a chitty loan?
If you are a non-prized subscriber in a chitty and remitted 10%
of the total number of instalments promptly, you are eligible
for an advance up to 50% of the total chitty amount or sala (gross
subscription to be remitted per month multiplied by the number
of instalments in the Chitty).
is the maximum amount of advance?
maximum amount of advance is Rs.50,00,000/- under this category.
are the Principal and the interest of the Chitty loan settled?
The principal of the advance is settled by adjustment from the Chitty
prize money and the interest has to be remitted every month.
What is the interest rate?
The interest rate of the advance is 15% (simple) and for defaulted
avail this facility, please check our branch list and get in touch
with the branch
which is most convenient for you.