Terms & Conditions

About the Company

• Senthil Gnanavel Chit Fund (P) Ltd is a legally registered chit fund company operating since 1974, with over 53 years of trusted service.
• We conduct all chit fund operations as per the Chit Fund Act and regulations governed by the Central and State Government.
• Our registered office is at No. 45, Mela Veedhi, Chidambaram – 608 001.
• Branch offices are located at Cuddalore, Villupuram, and Sirkazhi for member convenience.

Member Benefits

• We operate legally registered chit fund schemes that allow common people to save and access funds easily.
• We assist middle and upper-middle class members in improving career growth, savings, and financial needs.
• High-value chit schemes are offered to provide financial support for education, business, and personal goals without the burden of interest.
• We take pride in 53+ years of uninterrupted service, reflecting our members' trust and satisfaction.
• When auction prizes are distributed to CHIT HOLDER members, we ensure gratitude is acknowledged without any expectation.
• Our chit fund commission is only 5% (maximum) on the chit value — one of the lowest in the industry.
• No entrance fee is charged to new members joining any of our schemes.
• GST and other service taxes are applicable as per Central Government rules and regulations.

General Terms

• All chit transactions are conducted through transparent auction processes where every member has an equal opportunity.
• Members are required to pay their monthly instalments on time as per the agreed schedule.
• Any delay in payment may attract applicable charges as per the terms of the chit agreement.
• The company reserves the right to modify chit plans subject to regulatory approvals.
• Disputes, if any, shall be resolved as per the Chit Fund Act and applicable legal provisions.