What are the formalities for availing KSFE Pravasi Chits prize money?

KSFE, Government of Kerala
Answered on February 19,2023

For availing Chit prize money, the subscriber has to give sufficient security for the future liability of the prized Chit. The subscriber has the option to give different types of securities like property security, gold, personal surety (salary certificate of salaried employees of institutions recognized by KSFE), fixed deposits of different banks and of KSFE, bank guarantee, insurance policies etc. as per his convenience. The subscriber has the option of depositing the prize money at KSFE itself, which doesn’t demand any other security.

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