Thursday, 23 February 2012


This is the Official blog of the PATTAMBI Branch of the KSFE .

Contact Details:
Phone : 04662212158
Cell : 09447797178

email :

web :

KSFE is a Government of Kerala Undertaking.


As an alternative to the private chit promoters and with a view to socialise the chit fund business, the Government of Kerala took a decisive step in the year 1969 and started The Kerala State Financial Enterprises Limited (KSFE), as a fully Government owned Company. Beginning with Chitties, the company has over the years introduced several attractive schemes to cater to the needs of different classes of people.

Paying handsome returns to investors and lending money at lower rate of interest has been the service philosophy of the Company

From a Chit Company - to a Big Financial institution, the KSFE is a success story. The Company presently has a network of over 330 Branches spread throughout the state of Kerala. The Company mobilises savings of Households by instruments like Chitties, deposit schemes and channelises them to the needy for owning houses, and household durables, motor vehicles and equipments for self employment and provides finance for augmenting working capital needs of small traders.

All the schemes of the Company such as Chitty, Consumer/ Vehicle Loan (CVL), Gold Loan (GL), Fixed Deposits (FD), Sugama Deposits (Savings Account), New Housing Finance Scheme(NHFS), Trade Finance Scheme (TFS), New Chitty Loan (NCL), Reliable Customer Loan (RCL), Car Loan Scheme (CL) are unique and have comparative advantages over similar schemes of Banks or other Financial institutions, as is evident from the widening clientele. In this context, the Company is on the look out for more avenues to cater to the needs of various segments of population. Accordingly, KSFE has made strategical tie-ups with Western Union for Money Transfer (WUMT), and LIC of India for insurance business.


I. 1. Chitty Scheme:

Chitty is an indigenous household savings scheme with a loan facility built into it.
Chitties are also known as Chitty, Chit funds, Chitti, or Kuri.
There are more than 10 lakh subscribers in KSFE chitties conducted from the various branches with an aggregate monthly sala of more than 15 lakhs.

The following additional facilities are also available under the scheme:

i. Pass Book Loan: (PBL): is available to non-prized chitty subscribers depending upon the gross instalment paid up, the period remaining for the termination of the chitty etc., without producing any additional security for the advance.

ii New Chitty Loan (NCL): is an advance up to 50% of the sala available to Non Prized Chitty subscribers, subject to certain terms and conditions. Separate security for the advance as per the directions in force must be produced.

II. Advances and Loans :

2. Consumer / Vehicle Loan Scheme (CVL) :
With an object of providing advance facilities for the acquisition of consumer durables, vehicles, home appliances like TV, Refrigerators, Computers etc. on diminishing rate of interest and on easy repayment plans.

3. Gold Loan Scheme (GL) :
Short term advances up to Rs. 3,00,000/- for a maximum period of six months and the facility to renew up to two years subject to other conditions.

4. Trade Financing Scheme (TFS) :
For providing financial assistance up to Rs. 1,00,000/- to small traders, depending upon their requirements and repayment capacity,repayable with reasonable rate of interest within a maximum period of 60 months.

5. Reliable Customer Loan (RCL) :
For providing financial assistance to the general public on separate security repayable with interest applicable within 36 to 48 months.

6. Car Loan (CL) :
To provide loans for purchase of new four wheelers to a maximum of 85% of the 'on the road cost' to salaried persons having a net monthly pay exceeding Rs. 10,000/- and to self employed Professionals/ Businessmen/ IT assesses having an average annual total income exceeding Rs. 2,00,000/- for the three previous years, with a repayment period of 60 months (maximum)at monthly diminishing rate of interest depending upon the period of repayment opted.

7. Housing Finance Scheme (HFS) :
Finance under this scheme is available up to Rs. 4,00,000/- for purchase of dwelling sites and up to Rs. 10,00,000/-for purchase/ construction of dwelling houses/ extension of existing buildings beyond 300 Sq. Ft. on easy repayment terms extending for a period from 5 years (for purchase of dwelling sites) to 15 years in the case of purchase/ construction of dwelling houses.
Advances up to Rs. 2,00,000/- repayable within 84 months at reasonable rate of interest will be allowed for modification/ renovation and extension of existing houses. Extension/ renovation of existing houses up to 300 Sq.Ft. will be considered under this scheme.

III. Deposits :

8. Chitty Security Deposit in Trust Scheme (CSDT) :
Under this scheme, Chitty Prize money is accepted as security against future liability, repayable with interest on termination or on furnishing adequate alternate security. This offers a higher rate of interest.

9. Fixed Deposit Scheme (FD) :
The Company provides an attractive opportunity to the public to deposit profitably and safely through its Fixed Deposit Scheme which offers attractive interest rates. The repayment of deposits mobilised by the Company are guaranteed by the Government of Kerala. Loans up to 90% of the deposit amount is available at 2% above the rate of interest of the deposit.

11. Sugama Deposit Scheme :
This scheme envisages maintenance of personal accounts in the name of individuals, associations etc., in which deposits and withdrawals are permitted. The repayment of deposits and interest thereon (at present 5.5%) are guaranteed by the Government of Kerala.

IV. Other Schemes :

8. Western Union Money Transfer Services (WUMT) :
This is a venture with M/s. Paul Merchants Ltd. (Principal agent of Western Union) for providing an additional financial service to the public, whereby, people abroad can remit money to their relatives here, which they can receive without any delay.

9. Life Insurance (LIC) :
This is with an MOU with the Life Insurance Corporation of India to act as its Corporate Agent to enroll the general public to the various schemes of LIC.

The different types of Securities acceptable for our Chitty and Various Lending Schemes :

The following are the Securities/ Sureties acceptable:
a) Personal sureties inclusive of Professionals such as Doctors, Engineers, Chartered Accountants, Advocates etc.
b) Immovable properties
c) Government Securities
d) Fixed Deposits in KSFE and/ or Banks
e) National Savings Certificates (NSC)
f) Kisan Vikas Patra (KVP)
g) LIC Policies
h) Bank Guarantee
i) Paid up amounts in Non Prized KSFE Chitties
j) Gold jewels: (Provides public an easy way to secure the liabilities, and also serves as a free and safe Locker facility

You can find here, general information about KSFE chitties and subscription details of all running chitties of our branch.

If you are from PATTAMBI or nearby places, you are invited to our Branch to join our chitties and also to avail any advances you may need.

How To Join
To enroll in KSFE chitty, you need to submit a form, called CHITTY UDAMPADY. You can obtain the variola in person from our office. Or you can send us email to: or, or call (0)9447797178 or (0466)2212158. We will be sending you the application form (Chitty Udampady) by  post.

You can also leave a comment mentioning your email id and/or mobile number. We will get in touch with you.

Chitties now being enrolled

(Short Term - Below 5 years)

Monthly Duration Sala(`)
Subscription(`) (Months) (Gross Amount)
50,000                                40            20,00,000  
25,000 40 10,00,000
20,000 50 10,00,000
10,000 50 5,00,000
10,000 40        4,00,000
5,000 60 3,00,000
5,000 40 2,00,000
2,500 40 1,00,000
2,000 50 1,00,000
1,000 50 50,000

(Long Term - more than 5 years)

Monthly Duration Sala
Subscription(`) (Months) (Gross Amount ` )
15,000                            100             15,00,000
10,000 100 10,00,000
5,000 100 5,00,000

{CLICK HERE for Application form (Chitty Udampady) to join Chitty}

Any person who wants to have a recession-proof and steady-growing investment can join in chitties. We offer chitties of different patterns -different period - different monthly instalments ranging from Rs. 1,000/- to Rs. 50,000/-.


Frequently Asked Questions about KSFE Chitties

1. What are KSFE chitties?
Chitties (also known as Chitty, Chit funds, Chitti, or Kuri).
Chitty is an indigenous household savings scheme with a loan facility built into it. There are more than 10 lakh subscribers in KSFE chitties conducted from the various branches with an aggregate monthly sala of more than 15 lakhs.

2. Can I make on line transactions?
KSFE has not yet made any special arrangements for on line transactions on its own.

3. Why Chitties?
Chitty is a traditional and indigenous financial instrument in Kerala. It is also known as Kuri and has many formats (click here for a scholarly review of the chitty and kuri systems in Kerala). To put simply, a chitty scheme collects money from a set of people each month, and provides a lump sum to the most needy person of the group.

(The following illustration is given for the benefit of those who are new to chitties. Please skip the next two paragraphs if you understand the working of chitties.)

An example

Consider this example.
Suppose 40 people have joined in a chitty for a monthly instalment of Rs.2,500/-. The total amount collected is Rs. 1,00,000/- (Sala). The chitty lasts for 40 months and one person gets the prize money each month. KSFE Chits can be bid for an amount of discount up to 30% of the Sala including the Foreman's (KSFE) commission of 5%. In the first month, suppose the person who bids the chitty (usually through a draw of lots if the number of aspirants to bid for 30% discount are more than 2), gets Rs. 70,000/, that is a discount of Rs.30,000/- (i.e., 30% of the total amount). From this Rs.30,000/-, Rs.5,000/- (5%) is taken as commission and Rs.25,000/- is distributed equally among the 40 members. In this case, it comes to Rs.625/- (=25,000/40). So, the next month each member has to pay only Rs.1,875/- (=2,500 – 625).

This does not mean that a member has to pay only Rs.1875/- per month for the whole 40months. At a later stage, say after 20 months, suppose the person who wins the chitty gets Rs.85,000/- (usually through bidding; draw of lots is conducted only when at least two people are willing to opt for a discount of 30%). The discount in this case is Rs.15,000/-, from which Rs.5,000 is taken as the Foreman's commission and Rs.10,000/- is equally distributed among the 40 members. In this case, it comes to Rs.250/- (10,000/40). Each member has to pay Rs.2,250/- (=2,500 – 250). This is just an example, and the scenario varies for different denominations of Chitties.

4. Why Chitties, Why KSFE, and Why PATTAMBI Branch?

We, at KSFE Pattambi branch, do not make any fancy claims (like mutual funds, insurance companies, and other wealth management firms). We believe that you are too intelligent to be fooled by such claims. What we offer is a simple investment scheme that can be used either as a loan or as a savings scheme.

Some trivia

Now something to relieve the tedium of algebra. One of our customers recently made an interesting observation. If you put Rs.2,500/- in a mutual fund, they will put about Rs. 1,875/- in your account [please note that the amount is not correct in the present situation. He made this remark some time back, that too about a ULIP scheme]. On the other hand, if you give Rs.1,875/- to KSFE, they will put Rs.2,500/- in your account!

That's all fine; but how can one treat chitty as a loan?

Simple. By opting for a 30% discount and winning the chitty as early as possible. You get 70% of the total chitty amount within a few months of joining. If you calculate the total amount you have to pay at the end of chitty, it will be far less than a loan of the same amount plus its interest after full repayment.

5. What about chitty as a savings scheme?

For this, you have to bid relatively late. That does not mean that you have to wait until the last instalment. You need to arrive at an amount that is profitable and bid for that amount. In the above example, suppose a person calculated Rs.90,000/- as the optimum amount. Let us say, he or she got the prize money after 25 months and put it as an FD. The total amount the member will get at the end of the chitty will be far higher than the total amount he or she has to pay.

Hope it is clear. For any queries and clarifications, please leave a comment here or send an email to: or

6. Why KSFE?

There are a number of chitty companies in Kerala. Why should one opt for KSFE? A clinching reason is the trust. The investment in KSFE is protected by Government of Kerala. The Company has been functioning for nearly four decades now. No other Chit company in Kerala can match us in terms of trust. Your money is in safe hands. Please do not take it as arrogance; but we won't catch cold even if the US economy sneezes. If you carry out a risk–reward analysis of investment, you can see that KSFE chitties provide an optimum balance.

The second reason is our social commitment. A major chunk of our profit goes to Government of Kerala, which utilises it to carry out developmental work, running public service organisations, and providing care for the less fortunate and less privileged among us. The money you invest does not go to foreign countries, who use it for god-knows-what. Your money is used for the benefit of the people of Kerala. KSFE chitties help you to help yourselves as well as to help your fellow beings.

7. Why PATTAMBI Branch?

This one is the toughest and trickiest question. Let us state that there are no special privileges for PATTAMBI branch. Rules and regulations are same for all branches of KSFE. But we can assure you our best attention in all your dealings with us.

Thanks for reading patiently. Please feel free to comment.


  1. Sir,
    Thank you for your interest in KSFE

    We have commenced enrollment to the following chities
    Monhtly subscription Duration (Months) Sala (Rs. in Lakhs)
    20,000 50 M 10.00 Lakhs
    15,000 48 M 7.20 Lakhs
    14,000 50 M 7.00 Lakhs
    10,000 50 M 5.00 Lakhs
    5,000 60 M 3.00 Lakhs
    5,000 40 M 2.00 Lakhs
    3,000 50 M 1.50 Lakhs
    2,500 60 M 1.50 Lakhs
    2,500 40 M 1.00 Lakh
    2,000 50 M 1.00 Lakh
    1,000 50 M 0.50 Lakh

    Please feel free to call for further in the matter

    Ph: 0466-2212158

  2. I m rasheed from qatar.

    I would like to join with 25000 monthly chitti. Please give me all details of this plan
    My contact number 0097430072020.
    And I m from changaeamkulam is possibile to join with pattambi branch or which should be conveniance for me?

    1. SIR
      Thank you for the interest shown in KSFE Chitties.
      We have commenced enrollment in the following chitties due to be commenced during the month

      5,000 x 40 Months = 2 Lakhs (15.11.2013)
      1,000 x 50 Months = 50,000/- (15.11.2013)
      10,000 x 50 Months = 5 Lakhs (31.11.2013)
      5,000 x 60 Months = 3 Lakhs (15.12.2013)
      20,000 x 50 Months = 10 Lakhs (15.12.2013)

      Please feel free to contact us @ 0466 2212158 or 9447797178
      web :
      email :