FAQ | KSFE Pravasi Chits


FAQ : Registration & KYC

Unlike KSFE's existing traditional chit system, an “online portal” has been exclusively developed for Pravasi Chits. You can visit the KSFE Pravasi Chit web portal or Mobile application and register by providing your basic information. You will receive a username and password you can login using these credentials and complete the process.
NORKA or Non Resident Keralite’s Affairs is a department of the Government of Kerala established to redress the grievances of non-Keralites both in India and abroad and to have a sustainable partnership with them.
Yes, NORKA ID is mandatory to join KSFE Pravasi Chits. You can register in NORKA using the link given on our Customer Registration page
Yes, NRI‘s within the age limit of 18-55 only can join Pravasi chits.
KYC or Know your Customer is a mandatory verification process the customer has to undergo to subscribe KSFE Pravasi Chits.
Passport, Visa, Photo, National ID of the residing Country, PAN, Cancelled cheque
1.Direct KYC a.With E-KYC b.Without E-KYC
The E-KYC option allows the customer to complete the KYC using AADHAR. The Customer should enter the AADHAR number and generate an OTP and upload the required documents, for verification, thereafter
This option allows the customer to upload the required documents directly for verification.
If the information you have entered and the document you have uploaded do not match the KSFE virtual branch will mark your KYC file as discrepant. You will receive an email or SMS asking you to re-upload the concerned document.

Joining a Chit

Chit or "Kuree" is a trust-based financial product that involves partnership for personal needs, which has the characteristics of both Investment and Financing. Deposits and bidding as per convenience are the major features of Chits.
Chits are organised on a monthly basis. KSFE Pravasi Chits is a completely web-based Chits scheme. NRI’s can visit the website or the Mobile application to complete the registration process, subscribe the chits and take part in the Auctions online.
It is completely an online Chit solution. Customers can register, subscribe, make chit payments and participate in the auctions online. It is simple and transparent. Safe savings, security for deposits and hassle-free chit payment options are a few features of the Pravasi Chits. Insurance coverage for all chit subscribers. Optional Pension Deposit Scheme. \Unique opportunity to be partners in the development of Kerala.
The monthly payments in the chits are deposited in KIIFB bonds guaranteed to be returned at any time. The deposits made in the KIIFB Bonds will be invested in the various developmental projects by the State government. All the deposits made in the bond are guaranteed by the Kerala State Government.
Pravasi Chits are run by Kerala State Financial Enterprises, established by the Government of Kerala. Unlike the other chit funds, Pravasi chits have the guarantee and security of KSFE. Insurance coverage for the chit subscribers also makes Pravasi chits more attractive. The Subscribers can also deposit the Prize money in an optional Pension scheme, in collaboration with LIC. Moreover, the chit subscribers have a unique opportunity to be partners in the development of the state by joining KSFE Pravasi Chits.
As of now, a Pravasi chit offers schemes worth Rs.1 lakhs to 10 lakhs INR for a period of 25, 30, and 40 months respectively. Please visit our website or mobile application to know more about our schemes.
At present KSFE is planning to start monthly chits with a gross subscription of INR 2500/- However, the minimum amount for monthly subscription of INR 2500/- is INR 1875/-
At present KSFE is planning to start monthly chits with a gross subscription of INR 40,000/- However, the minimum amount for monthly subscription of INR 40,000/- is INR 30,000/-
No, Pravasi chits do not have any plans to start weekly chits, as of now.
A subscriber can join up to 10% of the total number of instalments, as chittals. For, eg, A subscriber can join up to a maximum of 4 chittals in a 40 months installment chit. (40x10%= 4 tickets)
No, Pravasi chits do not allow the subscribers to make payments in cash. All the payments are to be made online/cheque deposit.
No, AADHAR is not necessary to join Pravasi chits.
Yes, you can add nominees in Pravasi chits.
Yes, you can add multiple nominees in Pravasi chits.


The subscriber can make payments via online using Internet Banking/Debit cards. You can also submit a cheque in any of the KSFE Branch or pay using the POS device available with KSFE agents. Please note that subscribers cannot make payments in cash, in KSFE Pravasi Chits.
Yes. Every chit has a monthly due date. The subscribers are supposed to make their monthly chit payments before the due date to participate in the Auctions.
Yes. The penalty for defaulted payments is calculated on the actual number of days delayed for making the payment. Please read the Chit Agreement for more details.
No, daily or weekly part payment option is not available in Pravasi chits.
YES, The Monthly installments should be made in whole to participate in the auctions.
KSFE does not have any plans to start weekly chits for NRI’s, as of now.
You can make payments using your Debit card however, Credit card payments are not allowed in Pravasi chits.
No, but you can make payments via cheque.