SCHEME STANDARD 500
Pay a monthly amount of Rs 500 for 12 months and get a bonus amount of Rs 250.
Total payable amount = Rs 6000
Total redeemable amount on payment of final installment = Rs 6250
Payment due date is 10th of every month. Enrollments after the 15th go will be taken as subsequent month’s payment.
Please read terms and conditions below
Terms and Conditions
1. Customers can enroll in any one of our chit schemes which involve paying a fixed amount monthly for the chit period. On payment of the final monthly amount, customers are entitled to a bonus. The fixed amount, bonus amount and the length of the chit period would depend on the scheme.
2. On payment of all monthly installments, the scheme is termed “mature” and customers can redeem their total amount which is the paid amount added to the bonus amount at any one of our branches.
3. We currently accept cash and card payments. Cheques will not be accepted. In the case of cash/card payments, customers would receive a payment acknowledgement message to their registered mobile number.
4. Monthly installments should be paid regularly on or before 10th of every month. Reminder messages would be sent at regular intervals to ensure customers stick to the due date. If a scheme is pending for over a month, we reserve the right to cancel the scheme. In such a case, paid amount (not including any bonus) can be redeemed.
5. At no point of time can we offer a cash refund. Amount paid can be redeemed by purchasing products at any one of our branches.
6. The chit period for each scheme is the time provided for paying all the installments in order to avail the bonus. The schemes are designed in such a way that a customer needs to pay a fixed amount per month. If a payment is missed on a certain month, it must be paid along with the next month’s payment. At no point of time can the period of the scheme be extended to make up for any delays in payment.
7. Scheme enrollment can only be done by visiting one of our branches. However, the subsequent monthly payments can be paid online.
8. Due to current GST rules, the total amount can only be used to purchase products which are taxed at 5 %.
9. SRIVIN reserves the rights to alter, amend, modify, add or delete any of the terms and conditions from time to time.