Complete Guide on KSFE Pravasi Chit
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- Sections
- Features
- Eligibility Criteria to join KSFE Pravasi Chitty
- Documents Required to join KSFE Pravasi Chitty
- How does KSFE Pravasi Chit work?
- How to register for KSFE Pravasi Chits online?
- How to make KSFE Pravasi chitty online payment?
- KSFE Pravasi Chitty Online Auction
- Documents Required for availing KSFE Pravasi Chitty Prize Money
- KSFE Pravasi Chitty Plans
- Helpline
- References
- FAQs
Quick Links
| Name of the Service | KSFE Pravasi chitty |
| Online Application Link | Click Here |
| KSFE Pravasi Chit Android App | Click Here |
| KSFE Pravasi Chit iOS App | Click Here |
| KSFE Pravasi Chit Schemes | Sala starting from INR 1 lakh to INR 1 crore |
| Duration of KSFE Pravasi Chits | 25 months to 60 months |
| Subscription Amount for KSFE Pravasi Chits | INR 2000 to INR 250000 |
| KSFE Pravasi Chit FAQs | Click Here |
KSFE Pravasi Chitty is a unique financial savings scheme introduced for the welfare of Malayalees living outside Kerala.
It also gives NRK's, an opportunity to partake in the overall infrastructural development of the State. Moreover, the Pravasi Chits also has many features that make it a unique financial saving structure among other financial instruments.
Features
Online Auction: A safe and secure online auction room is developed especially for auctions. It is uniquely designed to keep the auctions simple, hassle-free and transparent. Customers can log in via mobile/desktop from any part of the world via internet access.
Liability Waiver: KSFE will waive the liability of the chit, up to a maximum of Rs. 10 lakh, in the unfortunate event of the subscriber's demise. The liability waiver option will act as a de facto, free-of-cost insurance scheme for Pravasi Chitty subscribers. One person can receive a maximum liability waiver amount of Rs. 10 lakhs.
Eligibility Criteria to join KSFE Pravasi Chitty
Those who are attained 18 years of age can join Pravasi chits.
Documents Required to join KSFE Pravasi Chitty
The following documents are required for applying for KSFE Pravasi Chitty.
For NRKs outside India
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Valid Passport/PIO/OCI
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Valid Visa
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National/Labour ID of residing country
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Photo
For NRKs within India
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Aadhaar/Voter ID
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Any address proof of the residing state.
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Photo
How does KSFE Pravasi Chit work?
KSFE Pravasi Chit is a completely web based Chit scheme.
NRIs/NRKs can visit the website or Mobile application to complete the registration process. They can then subscribe the chits and take part in the auctions online.
Chits are organized on a monthly basis.
How to register for KSFE Pravasi Chits online?
You can register for KSFE Pravasi Chits through KSFE Pravasi Chit website or through the mobile app (Android, iOS).
Follow the below steps to register in KSFE Pravasi Chits online.
- Visit KSFE Pravasi Chits
- Click on “Register” on the homepage
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Select the “Residing country” under the “Customer Registration” field. If you select “Others, residing outside India”, you have to select the country and citizenship to proceed further.
- Click on “Proceed”
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You will land on “Customer Registration” page.
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Enter the required details on this page including “Name”, “Email”, “Mobile number” and more
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You have to enter a new “Username” and “Password” for your account on this page.
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Tick the checkbox for accepting to receive electronic messages
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Enter the captcha on the “Enter the code shown”
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Click on the “Register” button
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After clicking the “Register” button, you will receive a verification link in your email. Click on the link to verify your email
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After verifying the email, you will receive a mail including “Username” and “Password”
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Open the mail and click on the “Click Here to reset your password” button to reset your password
Note: Password should contain at least one lowercase character, 1 uppercase character, 1 special character and 1 numeric character
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Click on the “Change Password” button
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Login in to your KSFE Pravasi Chits using the “Username” and “Password”
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Now you have to complete the registration by entering the details
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Enter the “Personal Details”, “Address Details” and “Domestic Bank Details” under the “Complete Your Profile” section.
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Verify the details of the registered document under the “Confirm your Profile” and click on “Confirm Profile”
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Click on the “Confirm” button
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After confirming your profile, complete the KYC verification
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Upload the required documents
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After uploading the documents on required format and size, click on “Ok” for the popup “KYC Document upload successful”
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After verifying the documents, KSFE will inform you through mail
How to make KSFE Pravasi chitty online payment?
The instalment can be remitted via online gateways or using the KSFE Mobile App.
Follow the below steps to pay KSFE Pravasi Chit online
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Locate the KSFE Pravasi Chit app on your mobile
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Open the app
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Log into your KSFE Pravasi Chits Chit account using the “Username” and “Password”
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Click on the “Instalment” option under the “My Chits” section
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You will land on a page with the details of your instalment and due
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Select the instalment and click on the “Pay now” option
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Select the “Payment Gateway” under “Instalment Payment details”
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After selecting the bank, proceed with the payment by Giving the card details
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Click on “Make payment”
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Enter the verification code received for proceeding with the payment
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After completing the transaction, you can check whether the payment is successful or not.
KSFE Pravasi Chitty Online Auction
KSFE now facilitates easy participation in auctions from anywhere in the world using your Smartphone. The date and time of the auction will be notified in advance.
Follow the below steps to enter into the online auction.
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Login to the KSFE Pravasi Chitty website.
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Click on "Auction".
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Click on "Upcoming Auctions".
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Click on "Enter Auction Room".
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Bid for the auction.
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Click on "Confirm"
Documents Required for availing KSFE Pravasi Chitty Prize Money
Prize money can be availed by submitting any of the documents listed below as security.
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Chit Prize Money Deposit (interest rates)
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Personal Surety
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KSFE or Bank Deposits
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Insurance Policy
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Bank Guarantee
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Kissan Vikas Patra
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Property Security
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Gold Security
Relatives of NRIs who is a residents of Kerala can be nominated for the power of attorney. The nominated person shall complete the procedure from any KSFE branch in Kerala.
KSFE Pravasi Chitty Plans
Following are a few of the KSFE Pravasi Chitty Schemes.
| KSFE Pravasi Chitty Monthly Amount | Duration | Chit Amount |
| INR 2,50,000 | 40 Months | INR 1,00,00,000 |
| INR 1,00,000 | 60 Months | INR 60,00,000 |
| INR 1,25,000 | 40 Months | INR 50,00,000 |
| INR 2,00,000 | 25 Months | INR 50,00,000 |
| INR 50,000 | 60 Months | INR 30,00,000 |
| INR 80,000 | 25 Months | INR 20,00,000 |
| INR 30,000 | 60 Months | INR 18,00,000 |
| INR 20,000 | 50 Months | INR 10,00,000 |
| INR 25,000 | 40 Months | INR 10,00,000 |
| INR 40,000 | 25 Months | INR 10,00,000 |
| INR 16,000 | 50 Months | INR 8,00,000 |
| INR 10,000 | 60 Months | INR 6,00,000 |
| INR 20,000 | 30 Months | INR 6,00,000 |
| INR 12,500 | 40 Months | INR 5,00,000 |
| INR 20,000 | 25 Months | INR 5,00,000 |
| INR 5,000 | 60 Months | INR 3,00,000 |
| INR 10,000 | 30 Months | INR 3,00,000 |
| INR 5,000 | 40 Months | INR 2,00,000 |
| INR 8,000 | 25 Months | INR 2,00,000 |
| INR 4,000 | 25 Months | INR 1,00,000 |
| INR 2,500 | 40 Months | INR 1,00,000 |
Helpline
You can contact customer care 24x7 at +91-471-6661888 or +91-471-4449111 and mail at pravasi@ksfe.com
References
In creating this guide, we have referred to high-quality, credible sources such as official government orders, user manuals, and relevant materials from government websites.
FAQs
You can find a list of common KSFE queries and their answer in the link below.
KSFE queries and its answers
Tesz is a free-to-use platform for citizens to ask government-related queries. Questions are sent to a community of experts, departments and citizens to answer. You can ask the queries here.
Ask Question
Yes, you can add Nominee in KSFE Pravasi Chitty. You can also add multiple Nominees.
The subscriber can make payments online using Internet Banking/Debit cards/UPI. Please note that subscribers cannot make payments in cash, in KSFE KSFE Pravasi Chitty.
Yes. Every chit has a monthly due date. The subscribers are supposed to make their monthly chit payments before the due date to participate in the Auctions.
No, the auction timing of each chit on a particular date will be different. The subscriber has the option to select a Chit with his preferred auction timing, at the time of enrolling in a Chit.
Yes. The penalty for defaulted payments is calculated on the actual number of days delayed for making the payment. Please read the Chit Agreement for more details.
No, daily or weekly part payment option is not available in KSFE Pravasi Chitty.
Yes, the monthly instalments should be made as whole, no partial payment option is provided.
You can make payments using your Debit card however, Credit card payments are not allowed in KSFE Pravasi Chitty.
As of now, this facility is not available. We are planning to incorporate this feature in due course.
No. In Pravasi chitty, customers cannot make payments by cash. Only online payments are accepted. However, cheques are accepted at KSFE branches, but the amount will be credited to concerned chits only after realization of the same.
No, as per existing RBI guidelines the chit prize money can only be transferred to an NRO Account/regular Savings Account.
No, PAN card is not mandatory for joining Pravasi Chit. But, if you deposit the prize money as fixed deposit, TDS will be deducted from FD interest. If you are planning to claim the refund of the deducted TDS, you should provide PAN card details at the time of prize money deposit so that we can upload the deducted TDS details against your PAN to Income Tax website, which will help you to claim the refund of your deducted TDS.
30% of Sala of the Chit.