Common Questions about Chit Funds
Find answers to frequently asked questions about registered chit funds and Jaysel Chit Funds company in Tamil Nadu.
A chit fund is a savings and credit instrument where a group of people agree to contribute a fixed amount periodically. Members can bid for the collected amount, making it a flexible way to save and borrow.
Our chit funds are registered under the Chit Funds Act, 1982, and are regulated by the government. We maintain complete transparency and follow all legal requirements to ensure your investments are secure.
Monthly auctions are held where members can bid for the collected amount. The lowest bidder wins, and the difference between the total amount and the winning bid is distributed among all members as dividend.
Required documents include: ID proof (Aadhaar/PAN), address proof, income proof, and recent photographs. Additional documents may be required for higher-value chits.
Dividend earned from chit funds is taxable under 'Income from Other Sources'. However, businesses can claim subscription amounts as business expenses. Consult your tax advisor for detailed benefits.
We are part of the prestigious Surabhi Group, bringing over five decades of financial expertise. We're one of 's most trusted chit fund companies, serving 50,000+ members.
Our 50+ years of experience, transparent operations, dedicated customer support, and wide range of chit values from ₹50,000 to ₹50,00,000 make us a preferred choice for all investment needs.
Visit our office or contact us online. Our relationship manager will guide you through available plans, documentation, and enrollment process. We also offer doorstep service for document collection.
We operate Monday to Friday from 10am to 6pm, and Saturday from 10am to 2pm. Our customer support is available during these hours to assist you.
We offer multiple payment options including online transfer, auto-debit, cheque, and cash at our office. We also provide payment reminders and receipts for all transactions.