How is KSFE chitty calculated?
Total contribution/ investment =150*60 = 9000. i) If the chitty is auctioned at the 18th month/ instalment at a total discount of 5. 5% (including F. C), then the prize money payable is [Rs 100000 – 5500 = Rs 94500].
How are chits calculated?
Amount collected per month = 20*1000 = Rs. 20, 000 – this is known as the Chit Amount. Once the first month’s payment is received, bids are invited from all subscribers. Any subscriber, who is in need of money, can bid for the chit amount, at a lower amount than it.
What is the Commission for KSFE chitty?
For each Chitty, KSFE takes a 5% commission. This is in addition to the discount which gets redistributed as dividends.
What is Sala in KSFE?
Eligibility for chitty loan. If you are a non-prized subscriber in a chitty and remitted 10% of the total number of instalments promptly, you are eligible for an advance up to 50% of the total chitty amount or sala (gross subscription to be remitted per month multiplied by the number of instalments in the Chitty).
What is chitty division in KSFE?
Multi division chitty is relatively new saving method from Kerala state. It is a combined entity of four similar chitties. In this chittee, every month one person will get chitty full amount by drawing a lot.
What is the rate of interest in chit fund?
Chit Fund Vs Fixed Deposit
| Chit Fund | Fixed Deposit |
|---|---|
| Pays competitive interest rate than banks. Investors can get returns as high as 12-15% | Interest paid by banks range between 7.5-9.5% |
| The interest is paid in the form of dividend every month | The entire principal amount + interest is returned only on maturity |
How do you make money on KSFE chitty?
If you are a non-prized subscriber in a chitty and remitted 10% of the total number of instalments promptly, you are eligible for an advance up to 50% of the total chitty amount or sala (gross subscription to be remitted per month multiplied by the number of instalments in the Chitty).
How do you calculate Xirr online?
Step by Step Process to Calculate in Excel
- Enter all your transactions in one column.
- In the next column add the corresponding date of the transaction.
- In the last row mention the current value of your holding and the current date.
- Now Use XIRR function in excel which is something like this =XIRR (values, date, Guess)
Which is the best chitty in Kerala?
Chit Fund Companies Ernakulam
- Aayuk Chits Ltd. 5.0.
- Gokulam Chit & Finance Co Pvt Ltd. 3.8.
- The Kerala State Financial Enterprises Ltd. 3.8. 4 Ratings.
- K L M Chits. 3.8. 4 Ratings.
- KSFE. 5.0. 3 Ratings.
- Sri Gokulam Finance And Chits Company. 4.8. 3 Ratings.
- Vennala Kuries Pvt Ltd. 4.3. 3 Ratings.
- Narakkal Kuries Pvt Ltd. 4.3. 3 Ratings.