Organisation : Manappuram Chits (India) Limited
Facility Name : Pay Chits Online
Applicable State/UT : All India
Website : https://manappuramchits.com/
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How To Pay Manappuram Chits Online?
M/S Manappuram Chits are a professionally managed organization with a strong management team working under the guidance of promoters with a proven track in the financial service sector.
Related / Similar Facility : Lalithaa Jewellery Chits Online Payment
To Pay Manappuram Chits Online, Follow the below steps
Step-1 : Go to the link https://manappuramchits.com/Public/QuickPay
Step-2 : Enter your Chit Group and Token (or) Mobile Number
Step-3 : Click on Login button to pay chits online.
FAQ On Manappuram Chits
Frequently Asked Questions FAQ On Manappuram Chits
What is Chit?
A chit fund is a type of rotating savings and credit association system practiced in India for many decades before. Unless other financial systems Chit fund has dual advantages, which can be used for saving and borrowing purposes. Chit fund is giving a higher return to the subscribers who opted for investment purposes and for borrowing purposes it is the fastest way to get money with minimum cost.
How It Works ?
The chit group will start after receiving the commencement certificate from the ROC. The auction will be conducted from the second month. All the subscribers who have no dues in chit installments are eligible to participate in the Auction. The auction is conducted in which the members participate and the person who bid the minimum amount is declared as the prized subscriber.
When more members are bidding for the minimum amount the successful bidder will be determined by way of lot. The maximum discount that could be taken in a bid was restricted to 30% of the total chit amount. The auction discount after deducting 5% foreman’s commission shall be distributed to all the members of the group. It is called dividends to the subscribers.
Successful Bidder shall give the required securities/sureties depending on the future liability of the chit. The prized subscriber has to continue to pay the monthly installments till the termination of the chit within the due date.
CHIT provides a good source of finance for different type of people viz., small investors, businessmen, small scale industrialists etc.
A Chit is the Only Financial Product that allows you to Save and Borrow. The non prized subscriber who is a saving member up to the last installments gets dividend which is comparatively higher than the interest that are accrued by way of Recurring Deposit Schemes. The purpose of drawing the prized amount need not be disclosed. It can be used for any need by the member
Benefits Of Chits:
** Useful for saving and Borrowing purposes: Chit is very beneficial for investment and borrowing purposes.
** There is no restriction for the usage of the fund: The prized subscriber can use the fund for any purpose.
** The lowest interest rate on borrowing: Since the chit funds work under the principle of mutuality, you borrow from your future savings.
** High rate on savings: Chit fund will give interest on savings higher than as compared with Recurring Deposit.
** Dividend earned in the normal course is exempted from tax.
About Manappuram Chits :
Manappuram Chits are a professionally managed organization with a strong management team working under the guidance of promoters with a proven track in the financial service sector. We have 22 years of experience in the Chit business. In all these years, we have earned the trust of around Sixty thousand customers with a unique service-oriented approach.
Today, we have acquired a well-deserved reputation as one of the leading chit promoters in Kerala, Tamil Nadu and Karnataka by professional integrity and trustworthy services. We Manappuram chits are strictly governed by the Chit Funds Act 1982 and Rules framed by the respective state governments. We have been providing various attractive chit schemes for profitable savings purposes and raise money to meet the needs of peoples.
Call : 18003095096
Email : firstname.lastname@example.org