Once again, KSFE, rushed in to the forefront in order to prove its commitment to Keralites, to protect them financially from the evil hands of fly by night operators. The Hon’ble Minister for Finance, Housing & Law of Kerala, launched our new scheme “Swarna Varsha 2011 Chittikal” as an Onam offer to the Keralites on 17-8-2011, at Hassan Marikkar Hall, Thiruvananthapuram amidst thousands of people. The Hon’ble Minister for Transport and Devaswom, Sri. V.S. Sivakumar presided over the function and Sri. K. Muraleedharan, Hon’ble MLA of Vattiyoorkavu delivered key note address. Sri. V.P. Joy, IAS, Secretary to Government and our Chairman accepted the 1st Variola of Swarna Varsha Chittikal. Our Managing Director (I/C) Sri. P. Rajendran welcomed the audience.
The main features of the scheme are given below:
The scheme will commence from 17-08-2011 and will be upto 15-10-2011.
1. Mega Prize
40 Gold Coins of 5 Sovereign (40 gm) or cash equivalent limited to ` 1 Lakh each. The winners will be selected, after the period of the scheme, through lot in a public function.
2. Prizes at branch level
One Gold coin of 1 gram each or cash equivalent limited to ` 2500/- will be given as prize to one subscriber in a chitty having duration ranging upto and including 50 months and to two subscribers in chitty having duration exceeding 50 months. The winners will be determined through branch level draws on the 1st auction of respective chitties.
Value additions
a) Waiver of liability
Under this scheme a Non prized subscriber who meets with unfortunate death, will be paid back the gross instalment remitted by him/her without deducting proportionate foreman’s commission.
b) Future liability upto ` 2 Lakhs will be waived against each prized subscriberwho meets with unfortunate death.
The above coverage will be only upto one year of commencement of chitties during the campaign period and the liability in this regard will be met out of a corpus fund of ` 50 Lakhs on a first come first serve basis.
New Chitty Loan
New Chitty Loan upto 50% of sala will be made available to non-prized subscribers who have remitted 5% of the total instalments, in the chitty, subject to ensuring repayment capacity.*
Car Loan
Non-prized subscribers enrolled in chitties having gross sala of ` 5 lakhs and above and maximum duration 60 months are eligible to avail loan facility for purchase of new Car under this facility.*
KSFE
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