Terms and Conditions

• Vidivelli Chit Fund Private Limited operates with full transparency and follows a clear set of terms and conditions to ensure a secure and reliable chit-saving experience for all subscribers.

General Guidelines

• The monthly chit installment must be paid on or before 10:00 AM on the auction date to be eligible to participate in that auction.
• Subscribers who fail to pay the due installment are not eligible to participate in the auction for that month.
• If a subscriber fails to pay dues for two consecutive months, no dividend will be issued for that period.

Auction Winners and Surety

• A subscriber who wins the auction will receive the auction amount only upon submitting an acceptable surety.
• If a proper surety is not provided, the auction amount will be deposited into the bank.
• The final payable amount will be calculated as:
  (Principal + Interest Earned) – Outstanding Dues.
• If a subscriber fails to pay installments until the final cycle, legal action will be taken to recover the pending amount.

Non-participation in Auctions

• If no subscriber participates in an auction, a winner will be selected by drawing lots among eligible subscribers who have not yet won any previous auctions.

Discontinuation by Subscriber

• If a subscriber is unable to continue in the chit, they may introduce a replacement subscriber to take over the chit OR wait for the company to find a replacement.
• The settlement amount, after applicable deductions, will be paid either after a new person is replaced or before the completion of all installments, depending on the situation.