Please read the following terms carefully before participating in any chit group offered by Sri Rajagubera Chitfunds Private Limited.
| S. No. | Condition |
|---|---|
| 1 | This chit is governed by the Chit Funds Act – 1982. |
| 2 | The subscriber should pay the ticket amount without fail one day before the auction date every month. |
| 3 | Subscribers who fail to pay their bids on time will not be eligible to participate in the next auction and will not be entitled to any dividend. |
| 4 | A penalty of up to 24% interest will be charged if ticket payment is not paid before the auction date. |
| 5 | As per the Chit Funds Act, the Company reserves the right to remove the names of subscribers who do not make proper payments from the list. |
| 6 | If you cancel the ticket in the middle of certain chit period, the company commission of 4% will be deducted from chit amount which you paid and the remaining amount will be issued to you. The cheque shall be issued to the removed person within 7 days of payment of the full installment in lieu of the ticket or within 14 days of the expiry of the chit period if not later. |
| 7 | Adequate security must be furnished before the subscriber receives the prize amount (Rule 22). |
| 8 | GST / Document Charges will be deducted from the prize money as per Chit Funds Act. |
Our team can help you understand the policy details and chit process.