LOANS AND ADVANCES
KSFE CHITTY LOAN
KSFE Chitty Loan is a loan scheme for non-prized chitty subscribers to bridge the gap between their financial needs and the delay in receiving their chitty prize money.
Eligiblity for chitty loan
- To be eligible for a chitty loan, you must be a non-prized subscriber in a chitty and have remitted at least 10% of the total number of installments on time.
- The maximum amount of a chitty loan is 50% of the total chitty amount, or the sala (the gross subscription to be remitted per month multiplied by the number of installments in the chitty).
FEATURES OF THE SCHEME
KSFE helps you build your dream home. KSFE Home Loan is also available for purchasing land for housing
What is the maximum loan amount available?
The maximum loan amount available under the KSFE Chitty Loan scheme is Rs.1 crore or 50% of the SALA of the chit, whichever is lesser.
How are the principal and interest on a KSFE Chitty Loan repaid?
The principal of a KSFE Chitty Loan is repaid from the Chitty prize money, but the interest must be repaid every month.
What is the purpose of a KSFE Chitty Loan?
A KSFE Chitty Loan is a bridge loan that can be used to meet immediate financial needs while waiting for your chitty prize money to be awarded.
Interest Rates
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Rates are indicative and may vary due to market conditions
