Shriram chits personal loan eligibility

 

This is to bring to notice about the poor service and disrespect for customers by the staff and management of Kapil Chit funds.

A customer had made several investments with Kapil Chits at Khamman, Ghandhichowk branch, in various small amounts. Among the investments, one investment for an amount of 1 lakh was matured and it was time for redemption. However, the customer was never intimated from the company`s side and the customer himself had to do all the follow ups on the redemption process.

On contacting the manager of the branch, Mr.Dhayakar, only the customer was informed about the processed cheque, and was asked to collect it from the branch.

Shriram chits personal loan eligibility

Chit funds are rather popular among the artisans, shopkeepers and many such businessmen running small businesses. It's also popular among other individuals as well, who would like to receive a lumpsum for a special occasion like marriage, anniversary etc.

A few individuals and members may come together and decide on making a monthly contribution each month and would then be entitled to take a lumpsum on a pre-determined auction date.

Now, let's say there are 10 members, then the chit fund period would have to be for 10 months. Now let's assume that each of the 10 members contributes Rs 1000. If a person is in dire need of money he will bid for the auction amount at a lesser rate. For example, the auction amount would have to be Rs 10,000 in the above case (10 members contributing Rs 1000). Since there may be a need of urgent money the bidder may in the very first month decide to pick the money in the auction at Rs 9000, instead of Rs 10,000.

This is to bring to notice about the poor service and disrespect for customers by the staff and management of Kapil Chit funds.

A customer had made several investments with Kapil Chits at Khamman, Ghandhichowk branch, in various small amounts. Among the investments, one investment for an amount of 1 lakh was matured and it was time for redemption. However, the customer was never intimated from the company`s side and the customer himself had to do all the follow ups on the redemption process.

On contacting the manager of the branch, Mr.Dhayakar, only the customer was informed about the processed cheque, and was asked to collect it from the branch.