FAQ’s

1. About Chits
How does a chit fund work?

A chit fund is a savings-and-borrowing system where a group of people contribute a fixed monthly amount into a pool. Each month, the pooled money is given to one member through an auction or draw. This continues until every member has received their share.

What is an auction in a chit fund?

In a chit auction, members bid for the pooled amount by agreeing to take it at a discount. The member who offers the highest discount wins the auction, receives the prize money, and the discount is shared among the other members as dividend.

Who is a “Prized Subscriber”?

A member who has won the chit auction and received or is eligible to receive the prize money.

Who is a “Non-Prized Subscriber”?

A member who has not yet won or received the chit prize amount and continues participating in auctions.

What is a dividend in chit funds?

A dividend is the extra money distributed monthly among subscribers when someone wins the chit for less than the total collected amount.

What is ceiling in chit funds?

Ceiling refers to the maximum auction discount (dividend) limit in a chit group. At Senthur Chits, it’s set between 5% and 30% for fairness and profitability.

What are the advantages of participating in a chit fund?
  • Dual benefit of savings + borrowing.
  • Access to lump-sum funds without complicated loan procedures.
  • Encourages disciplined savings habits.
  • Flexible for both personal and business financial needs.
  • Transparent and regulated under the Chit Funds Act, 1982.
How much returns can I expect from chit funds?

Returns vary depending on auction bids and dividend sharing. While chit funds are not designed as high-yield investments, members often gain through dividends and flexible borrowing benefits. The effective return is usually higher than a savings account but may differ from fixed deposits or mutual funds.

What is the duration of chit funds?

The duration depends on the plan chosen. Typically, chit funds run from 20 to 50 months, with members contributing every month until the cycle ends.

What is the difference between traditional chit funds and digital chit funds?
  • Traditional chit funds → Paper-based, manual operations, payments mostly offline.
  • Digital chit funds (like Senthur’s Chit inClick) → Online registration, e-KYC, digital auctions, transparent tracking, instant receipts, and secure payouts.
Are chit funds a substitute for mutual funds?

No. Mutual funds are market-linked investments aimed at wealth creation, while chit funds are a community-based savings and borrowing tool. Both serve different purposes.

Are chit funds a substitute for recurring deposits?

Chit funds offer more flexibility and usually higher returns than recurring deposits, with added benefits of borrowing when needed.

Why is it better to borrow from Senthur Chits than take a bank loan?
  • Faster access to funds without lengthy paperwork.
  • No heavy interest — only the discount offered in the auction.
  • Flexible security/guarantee requirements.
  • Customer-friendly and transparent process.
How can I trust chit fund companies?

Trust comes from:

  • Ensuring the chit fund is registered and compliant under the Chit Funds Act, 1982.
  • Checking the company’s track record and customer base.
  • Senthur Chits has a 30+ year legacy with 3,000+ satisfied customers and operates with government approval, digital systems, and transparent processes.
2. About Senthur
Is Senthur Chits Private Limited registered?

Yes. Senthur Chits India (P) Ltd is a legally incorporated company registered under the Companies Act, 2013. It operates strictly under the regulatory framework applicable to chit fund businesses.

What is Senthur Chits’ registration number?

Our CIN is U65992T22015PTC021679.

Is Senthur Chits compliant with the Chit Funds Act, 1982?

Absolutely. Senthur Chits follows all the rules and guidelines under the Chit Funds Act, 1982, which governs chit fund operations in India. This ensures customer protection, transparency, and proper financial management.

How many branches does Senthur Chits have?

As of June 2025, we operate from our head office in Coimbatore.

Does Senthur Chits use digital systems for customer data?

Yes. We use secure digital systems for managing customer records, payments, and chit operations. All customer data is protected under strict privacy and compliance measures (aligned with DPDP Act, 2023).

How many customers does Senthur Chits have?

Senthur Chits has proudly served over 3,000+ trusted customers in the past 30 years of operations. Today, we have 300+ actively registered members and a growing community that continues to place their trust in us.

How safe is my account with Senthur Chits?

Your account is completely safe:

  • Chits are conducted under the State Government’s supervision.
  • Funds are managed transparently, with auctions and distributions recorded digitally.
  • Payments are acknowledged instantly, and prize money is disbursed via secure channels like bank transfer / SwiftPay.
Can a customer join Senthur Chits without valid income proofs?

Basic KYC (identity & address proof) is mandatory. Income proofs may be required only if you wish to borrow / bid in an auction. For just saving (non-prized subscriber role), income proof may not always be mandatory — but documents strengthen eligibility.

As an NRI, can I register and start saving?

Yes. NRIs can join Senthur Chits subject to:

  • Completing NRI KYC formalities (passport, visa, overseas address proof).
  • Providing a valid Indian bank account for transactions.
Can I add joint holders to my Senthur Chits account?

Yes. Joint holders (spouse, family member) can be added during chit enrollment. This ensures better flexibility and account continuity.

Can I add a nominee to my account? Is nominee KYC mandatory?

Yes. Adding a nominee is highly recommended to ensure smooth settlement in case of unforeseen circumstances. Nominee KYC is mandatory, as per compliance, to validate their identity and rights.

When is a guarantor required?

A guarantor is required when:

  • You win a chit auction and claim the prize money.
  • You borrow against your chit subscription.

The guarantor assures repayment continuity and protects the group’s financial safety.

3. Payments & Member Services
What types of chit plans does Senthur Chits offer?

We offer flexible chit plans starting from small-ticket savings to high-value chits (₹1 lakh up to ₹50 lakh+). Plans are structured over durations like 20–40 months, helping both individuals and businesses manage savings, borrowing, and growth.

How can I join a chit group?

You can join by completing our quick registration process: submit basic documents, select a chit plan that matches your savings or borrowing goal, and sign the chit agreement. With our Chit in Click feature, you can even enroll digitally.

What are the other fees and charges?

Apart from your monthly installment, the only statutory charges are the foreman commission (5%), GST (0.9%), and Application fee (0.1%), all regulated under the Chit Funds Act. No hidden fees apply.

What is a foreman commission?

It’s a small percentage (capped by law at 5%) collected by the chit company for managing the chit group, conducting auctions, and ensuring transparency.

What is a Chit Agreement Number?

A unique ID number for your chit agreement used for tracking and compliance.

Where do I look for my chit agreement number?

On your chit agreement document, passbook, or inside the Senthur Chits app.

What if I lose my chit agreement number?

Contact customer care with your details.

Can I see my chit agreement online?

Yes, through the Senthur Chits app under My Chits.

Can I transfer my ongoing chit to someone else?

Yes, with prior approval. Both parties must complete a transfer form and submit necessary documents. (Application fees apply for both parties.)

When does a chit end?

When all scheduled installments are completed and the final subscriber receives their prize money.

Can I renew my chit enrollment?

Yes. You can enroll in a new chit immediately after your current one ends or even run multiple chits simultaneously.

Do you offer a bonus for timely payments?

Yes, timely subscribers may receive incentives such as priority access to new groups or loyalty rewards, depending on the plan. (1% bonus is currently offered as bonus.)

How will I receive my payment acknowledgement?

You’ll receive instant SMS/WhatsApp confirmation and a digital receipt in the app.

What are the modes of payment collections?
  • Online (UPI, Net Banking, Debit/Credit Card, AutoPay via Senthur SwiftPay)
  • Cash or cheque at branches
  • Doorstep collection (where available)
How often can I make payments?

You can make payments for your chits on a monthly, daily, or weekly basis for all chit plans.

Can I pay my installment at my doorstep?

Yes, our authorized collection staff can collect payments from you directly.

Can I make multiple payments of my due?

Yes, you may clear multiple pending installments or pay ahead.

What documents are required to start a chit?
  • ID proof (Aadhaar, Passport, Voter ID, etc.)
  • Address proof (Utility bill, Aadhaar, Ration card, etc.)
  • PAN card (for higher-value chits)
  • Bank account details
  • You will be required to sign an agreement and fill the chit agreement.
How do I register for Senthur Chits?

You can register at any branch or online through Chit in Click. Submit KYC documents, select your chit plan, and complete the chit agreement.

Can I refer Senthur Chits to my friend?

Yes! Use our Refer & Earn program. You’ll get referral bonuses based on the chit value your friend joins. (T&C Apply).

Why do I need to select a goal while joining a group?

It helps us recommend the best chit plan for you—whether saving for a wedding, business, home, or emergency fund.

How much is the monthly payment for a ₹10 lakh chit?

It depends on the duration. For example, a 25-month chit would mean ₹40,000 per month. (Exact values are mentioned in your plan details).

How do I participate in the auction for my chit plan?

You can participate either online via our app or portal, or directly at our office. If you’re unable to attend the auction in person, simply give us a call — our team will assist you right away.

How much am I allowed to borrow from my chit plan?

Up to the chit value, minus the bid discount and foreman commission.

How many times can I borrow from my plan?

You can win the auction once per chit subscription.

What are the sureties to be submitted while borrowing?
  • One / two personal guarantors (Depending on the risk of chit)
  • Collateral (in high-value chits)
  • Other approved security documents (contact support to know more)
What is the cancellation process?

Submit a written request. Refunds will be settled after adjusting foreman commission and as per terms of the chit agreement. (Cancellation fees apply)

After winning the auction, how long will it take to receive my prize money?

In no time as promised by company after successful verification and submission of all required documents. (T&C APPLY)

How will I receive my prize money?

Directly credited to your registered bank account or via cheque.

4. Digital Features
What is Chit inClick?

Chit in Click is Senthur Chits’ digital chit platform that lets you join, manage, and monitor your chit plans entirely online. It makes traditional chit funds simple, transparent, and accessible from your mobile or computer.

What are the key features of Chit in Click?

Chit in Click offers everything you need to manage your chit digitally:

  • Digital Onboarding with simple online signup, instant video KYC, and quick approvals.
  • Signature View to make payments, track balances, request advances, and access statements or certificates instantly.
  • E-Auctions that let you participate in chit auctions online with transparent bidding and instant results.
  • Legacy Care with 24/7 AI-assisted support and easy nominee setup to protect your family.
How do I join a chit using Chit in Click?

Simply register through the app or portal, complete a quick e-KYC verification, and sign digitally. No paperwork is required.

What makes Senthur Chits unique?

With 30+ years of trust, Senthur Chits blends traditional financial discipline with modern fintech convenience. Unlike many chit companies, we provide:

  • 100% digital onboarding
  • Transparent auctions
  • Swift payouts through SwiftPay
  • Dedicated customer support
  • Plans designed for families, individuals, and businesses
What is Senthur SwiftPay?

Senthur SwiftPay is our smart payment system that allows instant, secure, and hassle-free chit installments and payouts.

How does Senthur SwiftPay work?

Senthur SwiftPay is our fast and secure digital payment system designed for Senthur Chit subscribers:

  • You can pay via UPI, net banking, card, or AutoPay.
  • You instantly receive a digital receipt by SMS, WhatsApp, and inside the app.
  • Payouts and refunds are credited directly to your registered bank account.
Why should I use Senthur SwiftPay?
  • Instant payment confirmation
  • Bank-level security
  • Easy access through the Senthur app
  • Most payments are free (no hidden charges)
Where can I access Senthur SwiftPay?

Available directly inside the Senthur Chits app and website during payments.

Who is eligible for Senthur SwiftPay?

All registered Senthur Chits customers can use SwiftPay for both payments and receiving payouts.

Is there a charge for using SwiftPay?

Senthur Chits does not charge any fee for payments made through SwiftPay. However, since transactions are processed via our payment gateway partner, a small fee may be applied depending on the payment method you choose. It’s completely free when you pay directly using the same UPI provider. (T&C APPLY)

How does Senthur Chits make payouts so easy?

Thanks to SwiftPay integration, prize money and refunds are transferred directly to your bank account within a few working days (after auction approval and documentation). You’ll also get instant payout notifications via SMS, WhatsApp, and app.

5. Customer Support
How can I get help with my chit plan or app?

You can reach out to Senthur Chits Customer Support via:

  • 📞 Phone support (branch contact numbers)
  • 💬 WhatsApp & in-app chat
  • ✉️ Email support
  • 🏢 Visiting your nearest branch

We’re here to assist with account details, payments, auctions, payouts, and technical help.

What if my issue isn’t resolved?

We follow a stepwise escalation process:

  1. First, contact our Customer Support Team (via app, phone, or WhatsApp).
  2. If unresolved, escalate to the Branch Manager with your chit agreement number.
  3. For critical issues, reach out to our Managers cell / email.
  4. As a regulated chit fund, customers also have the right to approach the Registrar of Chits for legal protection.
Whom should I contact for app or payment problems?
  • For payment confirmation, receipts, or failed transactions, contact our SwiftPay Support Desk via app or WhatsApp.
  • For technical errors in the app, raise a ticket through the app’s Help Section or email support.
  • For urgent payment issues, you can also visit your nearest branch for manual confirmation.
Where can I get branch support?

Senthur Chits has dedicated branch offices with support staff who can help with:

  • Joining a chit plan
  • Submitting documents or sureties
  • Auction participation
  • Payments & receipts
  • Prize money collection

You can find your nearest branch address and contact number on our official website.