Terms & Conditions

1. 1. To become a member or guarantor in Dhantirth Chits, an individual must be at least 2 years of age.
2. 2. A person wishing to join the group must submit a photograph, Aadhaar card, ration card, and PAN card, and can join by paying an advance amount of ₹1000.
3. 3. A member may hold any number of tickets within a single group.
4. 4. Members joining the chit group will be issued a registered Form No. 8 agreement for the chit value by Dhantirth Chits, as per the Chit Fund Act, 1982.
5. 5. Before the group begins, Dhantirth Chits will provide the list of 20 individuals registered with the government to all group members through both online and offline methods.
6. 6. As per the Chit Fund Act, 1982, Dhantirth Chits will provide members with a receipt for the fixed deposit made as collateral in the name of the group for its security.
7. 7. The group will be operated only after Dhantirth Chits provides the required security to the registrar and receives approval from the Joint Chit Registrar.
8. 8. Members must collect a receipt immediately after paying their installment. If a member claims to have paid without a receipt, the company shall not be held responsible.
9. 9. If a member wishes to receive the chit amount within six months, they must inform the company before joining the group. If they wish to receive it after seven months, they must provide at least one month’s prior notice.
10. 10. New members joining the chit group must have a minimum CIBIL score of 750.
11. 11. To receive the chit amount, two guarantors are required: (A) a Dhantirth Chits group member, and (B) a government employee. The documents of the member and both guarantors must be of the same type.
12. 12. A member receiving the chit amount who provides the required deposit or registers a mortgage for the remaining months is not required to submit any additional documents or guarantees.
13. 13. Members who wish to receive the chit amount after 12 months must provide a form of guarantee. For those receiving it after 15 months, submitting their own documents will be sufficient.
14. 14. A member who is eligible to receive the chit amount may receive it on the next day after completing the required security procedures for the remaining installments.
15. 15. Dhantirth Chits members can avail insurance for their chit value. The premium will be 1% of the chit value, and this benefit is applicable to individuals between 20 and 50 years of age.
16. 16. The foreman commission is 5% of the chit amount and is included in the monthly installment.
17. 17. Dhantirth Chits charges commission on the chit value of individual members and does not charge commission on the total chit group value.
18. 18. The foreman commission and service charges include: — subscriber investment security fee — government registration stamp duty — online service charges for installment payments — agreement fee for chit disbursement — 24/7 website-based account statement service
19. 19. Documents to be submitted by the auction-winning member: Proof of Identity, Proof of Address, Proof of Income, property-related documents of own house, and 3 security cheques. Two guarantors are also required, and their documents must be of the same type.
20. 20. If a member delays payment of their chit installment by up to three days from the chit date, a 3% penalty will be charged. If the delay extends up to seven days, an additional 2% penalty or interest will be charged.
21. 21. If a member's cheque is returned or bounced for any reason, a cheque bounce charge of ₹590 will be collected.
22. 22. If a member keeps their chit installment pending for up to five days from the chit date, they will not be eligible to receive the chit amount for the next six months.
23. 23. If a member wishes to cancel their ticket and transfer it to a new subscriber, a 1% processing fee will be charged on the chit value.
24. 24. If a member cancels their ticket and later joins a new group, they will be eligible to receive the chit amount only after six months.
25. 25. As per the agreement, if an installment remains unpaid for more than 15 days from the chit date, Dhantirth Chits reserves the right to cancel the ticket without the member's consent.
26. 26. If a member cancels their ticket, a 5% company commission will be deducted from the chit value. The remaining amount will be paid to the subscriber only after the chit group term ends.
27. 27. As per the agreement, if a member who has taken the chit amount fails to pay installments for two consecutive months, they will not be eligible to receive any rebate on the remaining installments.
28. 28. If such dues remain unpaid for more than two months, legal action will be taken under the Chit Fund Act, 1982. All legal expenses shall be borne by the concerned subscriber and guarantors.
29. 29. After the chit group ends, the subscriber may collect all related documents.
30. 30. Dhantirth Chits will not disclose any subscriber’s transactions to any third party without the subscriber's consent.
31. 31. All guarantees accepted by Dhantirth Chits management must be provided in written form only.

Benefits

1. 1. Lowest cost of intermediation
2. 2. Tax-free dividend
3. 3. Easy accessibility
4. 4. User-friendly services
5. 5. No periodic interest hikes
6. 6. Exit options with nominal charges
7. 7. No tax deducted from chit payments in our company
8. 8. Commission charged only on individual chit value, not on the total chit group
9. 9. Chit fund is simpler, faster, and more economical than bank borrowing

Why Invest With Us?

1. 1. Customers can receive their payments anytime (24×7 services)
2. 2. Chit installments can be paid on a daily or weekly basis
3. 3. 100% safety and security of customer funds
4. 4. Internal members can verify whether the chit winner has been paid
5. 5. Online chit statements and video facilities
6. 6. Transparency through official registration
7. 7. Customers can receive up to 50% of their paid chit amount at the lowest interest rate
8. 8. Hassle-free documentation