Unlike many chit Services, the Pravasi chit offers a lot of features for its customers. All the services, starting from chit selection to prize money collection can be made online. A 24x7 online call center to support the customers anytime, anywhere. Chit liability waiver and an optional pension scheme are the major features incorporated in the Chits.
KSFE will waive the liability of the chit, up to a maximum of Rs. 10 lakh, in the unfortunate event of the subscriber's demise. The liability waiver option will act as a de facto, free-of-cost insurance scheme for Pravasi Chitty subscribers. know more..
Pension is one of the value additions Pravasi Chitty provides along with insurance (in the form of liability waiver). The pension is offered by Kerala Pravasi Welfare Board. KSFE will pay the monthly premium for the pension for prompt subscribers till the termination of the chitty.know more..
In addition to empowering the returnees through financial support for their ventures in the state, Pravasi Chits gives the pravasi’s an opportunity to partake in the overall infrastructural development of the State. Expatriates can help the state realise the development dreams by joining the chitty. On March 3rd 2017 the then Finance Minister in his budget speech stated, “… it is intended to make use of Chitty for the development of the state. No NRK has to contribute single paise to Government for this purpose. All that they have to do is to join in NRI chitty of KSFE.”
With this scheme, investments are being generated and put to use for the overall growth of the state in the field of infrastructure development, health, education, public service, public works, social security et. Rs.10,000 crores out of a total of Rs.50,000 crores for various developmental activities for the next five years of the state are expected to be raised through the Pravasi chitties.