What is Chitty Loan For? Chitty Loan is a bridge between your actual financial need and the delay in chitty getting prized in your favour.
| Interest Rates | 13.00% – 15.00% |
| Maximum Loan amount | 75 Lakh |
| Toll Free Number | 1800 425 3455 |
When am I eligible for a 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 installments in the Chitty).
How are the Principal and the interest of the Chitty loan settled?
The principal of the advance is settled by adjustment from the Chitty prize money and the interest has to be remitted every month.
What is the interest rate?
The interest rate of the advance is 13.00% (simple) and for defaulted accounts 15.00%
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