KSFE Pravasi Chitty: A Quick Guide

• What is KSFE Pravasi Chitty?

It is a brand new initiative by KSFE and the Government of Kerala. It is conducted almost entirely online. One can join chitties online, remit monthly installments online and participate in auction online. All these can be done either through a website or through a mobile app.

• What is special about it?

It is indeed special. The money gathered by installment remittance is converted into Kerala Infrastructure Investment Fund Board (KIIFB) bonds, which fund various developmental works across the state. In other words, Pravasis can fund Kerala's infrastructure development simply by joining a chitty scheme, which provides them with handsome returns in the form of dividend. (Click here to learn how chitties offer dividend).

• Okay. What are the development work KIIFB funds?

Well, there are a lot. The prime projects are coastal highway and hill highway. There will be at least two road-building or -renovating schemes in every assembly constituency. Infrastructure facilities of one chosen school in each assembly constituency will be improved with funds from KIIFB. There are a number of other development works too. The motto is this: Join KSFE Pravasi Chitty, see developments in your home town when you return.

• Sounds good. But KSFE Pravasi Chitty is same as normal KSFE Chitty, right?

The basics are same -- like how you calculate dividend, monthly auctions, all remain the same. But there are some benefits offered for KSFE Pravasi Chitties that are not offered for traditional KSFE chitties.

1. A pension plan, which a subscriber can opt by depositing the prize money of the chitty into a pension fund. This is offered in association with LIC.

2. Insurance coverage: Every subscriber will be eligible for insurance coverage. If unfortunately a subscriber of KSFE Pravasi Chitty dies or suffers permanent disability, the remaining installments of his or her chitty will be remitted by the company. This is applicable for both prized and non-prized chitties.

• Fine. What about payment, KSFE's notorious bottleneck? Is it also online for Pravasi Chitty schemes?

Payment request and payment money transfer are online. The money will be transferred to the NRO account or ordinary SB accounts (not to NRI accounts). But the security registration and processing is done at individual branches manually. 

But don't worry. There is an online mechanism through which the subscriber can monitor the progress of file processing and security registration. This can also be accessed through the website or app. We assure you there would not be any bottlenecks.

• Hmm. How to join KSFE Pravasi Chitties?

The website and app for KSFE Pravasi Chitty will be launched in December. Watch this space regularly. In case of any doubts or clarifications, leave a comment here or call 04712737888  to learn more. 

KSFE Pravasi Chitty: Everything NRKs Need in a Chitty

We, then at KSFE Attingal Evening Branch, started this blog in 2009. The one question we have been receiving for all these years is this (or its many other variants):

When is KSFE going to start a chitty that can be operated fully online?

Usually we go silent when confronted with this question - or provide some feeble excuses. But that is no more the case.

KSFE's online chitty scheme that Pravasis have been looking for is here. Just one more month remains for its lauch.

You can start chitties online, remit monthly installments online, and even participate in auction online.

We know it is a bit late in coming. Still, we at KSFE are justifiably proud and happy about its imminent introduction. We welcome you all to the new chits. 

It will be inaugurated by Kerala Chief Minister Sri. Pinarayi Vijayan next month.

Salient features

Operate through website or mobile app

• Join chitties through website or mobile app
• Remit installments with debit cards or internet banking through payment gateways
• Participate in chitty auction at a scheduled time through website or mobile app.

Provide fund for Kerala's development

• Unlike traditional KSFE chitties, the monthly installments subscribers remit for KSFE Pravais chitties go directly to Kerala Infrastructure Investment Fund Board (or KIIFB). KIIFB finances development projects in Kerala, such as construction and renovation of roads and bridges and building better facilities at schools and colleges. For a list of KIIFB schemes in various parts of Kerala, visit here. In other words, you can engage in visible and measurable social service, simply by joining chitties. 

Avail Pension Plan

• KSFE Pravasi Chitty scheme offers a unique pension plan for Pravasis in association with LIC. Subscribers can put the prize money of Pravasi Chitty as pension fund deposit in LIC and specify an age after which they need to get monthly pension. The same pension fund deposit can be treated as security for the chitty (that is, no additional security is required). All one has to do is to complete the chitty installments. When they reach the specified age, they will start getting the monthly pension. The scheme can be opted in such a way that the spouse will get monthly pension after the demise of the subscriber and the nominee will get the lumpsum amount remaining in the pension fund after the demise of both subscriber and spouse. 

Get Insurance Coverage

• Another salient feature of KSFE Pravasi Chitty scheme is insurance coverage. If unfortunately the subscriber dies or suffers permanent disability, the company will remit the subscriber's remaining installments regardless of whether the subscriber availed the prize money or not. If the subscriber has not availed the prize money, it will be given to the nominee. In the event of death, the company will bear the airfare of bringing the dead body to the native place, including the airfare for the accompanying person. 

This is going to be a historic chitty scheme for Kerala's development and NRK's financial needs. 

The website and app for KSFE Pravasi Chitty will be launched in December. If you have any queries or doubts, please call to the Help Desk of KSFE Pravasi Chitties @ 04712737888.

Ponnona Chitty Scheme with KSFE Chitties

Ponnona Chitty Scheme is going in full swing KSFE. The following chits are open now:

• Rs. 100000 x 30 months - 30 lakhs
• Rs. 50000 x 40 months - Rs. 20 lakhs
• Rs. 10000 x 100 months - Rs. 10 lakhs
• Rs. 10000 x 50 months - Rs. 5 lakhs
• Rs. 5000 x 40 months - Rs. 2 lakhs

As usual, we have an array of prizes in store for you as part of KSFE Ponnona Chitty Scheme.



Each and every susbsciber who joins in KSFE Ponnona Chitty scheme will get an umbrealla. It is an assured gift.

Call now 9846693183 to join or to learn more about KSFE Chitties and KSFE Ponnona Chitty Scheme.