KSFE Chitty Vs Money Club – Plans, Schemes, Tenure, Benefits

KSFE Chitty Vs Money Club

The Kerala State Financial Enterprises Limited (KSFE) in the Indian state of Kerala, is a government-run chit fund and lending organisation. KSFE offers various types of gold loan, personal loan, overdraft facility, trade loan, housing loan, chitty loan and savings deposits.

What is a Chit Fund?

Chit funds are run by Chit Fund Companies. It has various other names such as chitty, kuree, etc. They provide access to savings and borrowings for people with limited access to banking facilities. Chit funds have been a part of India’s financial system for more than a century. All chit fund schemes have a particular period, a fixed contribution and a set of members. The number of members in the chit is equal to the period, and each of the members are required to contribute a fixed sum of money for each period.

Invest in chit fund and earn money from the comfort of your home

KSFE Chitty Plans

KSFE operates a number of chitty programmes. The amount per month might be anywhere between Rs. 1,000 to Rs. 6 lakhs. The usual duration of KSFE chitty programmes range from 30 months to 120 months. The number of Chittals (members) in a chitty is equal to the duration of chitty in months. The total amount of the chitty is called the chitty Sala. Auction is conducted every month to choose one Chittalan (member of the chitty) who bids the chitty for the maximum discount and that person is given the prize amount. The various chitty schemes run by KSFE are as follows:
Short Term Chitty
Short-term chitties have a duration of 30 to 60 months. They are suitable for people who need the prize money right away. It is the best way you can save money and accumulate a lumpsum amount at the end of a certain period of time.
Long Term chitty
Long term chitty is usually investment chitty. These chitties last from 60 months to a maximum of 120 months. People who want to invest will benefit more from long-term chitties since they will receive higher profits in the form of dividends.
 Multidivision Chitty
In the case of Multi Division Chitty the number of persons prized in each month will be equal to the number of divisions. In multi division chitties having 4 divisions there will be one draw and 3 auctions. All non-prized subscribers who have remitted the installment for the month will be eligible for a draw to choose one member who will get the maximum prize amount (sala amount – foreman’s commission of 5% of the sala). The other three auctions will determine the members who bid the chitty for the highest discount. For Multi Division Chitty, maximum discount possible is 30%, 35% or 40% depending on the duration of the chitty. Multi Division Chitty having more than 100 month duration can be auctioned up to a discount of 40% ,while chitties having duration from 60 months to 99 months can be auctioned up to a discount 35% and chitties with duration less than 60 can be auctioned up to a discount 30% .

Want to know more about KSFE

KSFE Schemes

25-Month Chits

Subscription Amount Duration  Sala 
40000 25 1000000
20000 25 500000
16000 25 400000
8000 25 200000
4000 25 100000

30-Month Chits

Subscription Amount  Duration  Sala 
100000 30 3000000
50000 30 1500000
10000 30 300000

40-Month Chits

Subscription Amount  Duration  Sala 
50000 40 2000000
25000 40 1000000
12500 40 500000
5000 40 200000
2500 40 100000

Join the AI-powered Online Chit Fund Platform!

KSFE Pravasi Chitty Scheme

KSFE is essentially a traditional offline chit system, but it has developed an online portal called Pravasi Chits for the NRI community. Kerala Government has introduced KSFE Pravasi Chitty scheme in March 2018 as an insurance coverage and savings plan for the benefit of Non-Resident Keralites. Through the initiative, the Kerala Government has decided to raise a fund of Rs.10,000 crore from the scheme of KSFE Pravasi Chitty for the next five years for various developmental activities.
People residing in India cannot apply to KSFE Pravasi Chitty scheme. The scheme is only applicable to the Non-Resident Keralites residing in foreign countries.
Insurance cover would be provided to the members of the KSFE Pravasi Chitty scheme, which means that in case of the demise of the subscriber the family of the subscriber would receive funds. Moreover, they will be provided with pension amounts if investments have been made for the same.
Monthly Installment
The members of KSFE Pravasi Chitty scheme need to make periodic payments from Rs. 1,000 to Rs. 5,00,000 per month. Payment can be made through the various online methods. Duration of this scheme ranges from 30 months to 100 months.

Money Club

Chit Fund Schemes of the Money Club

What is The Money Club?
The Money Club is a fast-growing digital chit fund platform that ensures zero risk, zero paperwork and lowest commission as compared to the traditional chit fund platforms. It is a transparent, safe and secure platform that allows like-minded people from all over India to save, invest or borrow efficiently through their smartphones.     
The Money Club Journey
Pilot Club
The Money club platform journey starts with a Pilot Club wherein 5 money clubbers contribute a maximum of Rs 200 each daily. During the Pilot club, money clubbers go through the level 1 verification which involves basic KYC, pilot club performance and profile check.

1st Real Club

After the pilot club, the level 1 verified money clubbers are invited to join a 6K3D club. Club details:
  1. Club amount: Rs 6000
  2. Total members: 10
  3. The maximum contribution per member: Rs 600
  4. Bidding Frequency: 3 days
  5. Club Duration: 1 month

2nd Real Club

The next club invitation sent to the money clubbers is of the 8K3D club. The 8K3D club invitation is usually sent to the eligible money clubbers before their 6K3D club gets completed. Club details:
  1. Club amount: Rs 8000
  2. Total members: 10
  3. The maximum contribution per member: Rs 800
  4. Bidding Frequency: 3 days
  5. Club Duration: 1 month

How to get money when you need it urgently

3rd Real Club

The next club invitation that a money clubber receives in his journey at the platform is of the 10K15D club. The 10K15D club invitation is usually sent to the eligible money clubbers before their 8K3D club gets completed. Club details:
  1. Club amount: Rs 10000
  2. Total members: 10
  3. The maximum contribution per member: ₹ 1000
  4. Bidding Frequency: Fortnightly
  5. Club Duration: 5 months
Post the 10K15D club, money clubbers keep receiving club invitations of different club amounts and frequencies based on their track record. Better the track record, higher the number of clubs and the club amounts. Frequency of club: daily, 3 days,  weekly, fortnightly or monthly Minimum amount for daily club is Rs 600 3 day club amount Rs 600-Rs 1800 Weekly Rs 500 Fortnightly Rs 600-Rs 4000 Monthly Rs 3000

The Money Club - Refer and Earn Program

  • For every verified referral you get Rs 200 (Rs 100 cash + Rs 100 credit) and the referred member gets a discount of 50% on the verification fee.
  • If you are a Money Club agent, you get Rs 200 cash for every successful referral.
  • Any member who has made at least 3 referrals in a calendar month is eligible to compete for the cash prize of Rs 1,000. Top 3 referrers in each month get the cash prize.
  • Any member who has made at least 12 successful referrals in a quarter is eligible to compete for the Rs 10,000 cash prize.
  • You get Rs 50 cash bonus every time your referral completes a real club successfully in 12 months. Suppose, your referral completes 20 real clubs in the next 12 months after getting L1 verified, then you earn Rs 50 x 20 = Rs 1,000 more.

You can also Refer and earn money from The Money Club

How The Money Club is a better alternative to KSFE Chitty

Special Features of The Money Club how it is  better alternative to KSFE Chitty

  • India’s best AI-driven online chit fund platform with 100% online process
  • Higher returns on investment
  • All the members are verified before they start pooling up money
  • Gamified customer journey
  • High frequency chits (daily, 3days, weekly)
  • People from PAN India can join The Money Club.
  • No physical presence is required at the time of auction.


Mode of operation

KSFE chitty is traditionally a 100% offline chitty. Although you can pay your monthly installments online, you have to visit the branch or meet the agent to join the KSFE chitty.

The Money Club offers an end-to-end 100% online process. Right from registration, verification, contributions to payments, everything takes place online. There is no paperwork and no physical presence required.

Performance linked commission structure

Traditional chit funds like the KSFE Chitty charge 5% commission.

On the other hand, The Money Club has a variable commission structure which starts with 4% of the chit amount and goes down to as low as 0.5% based on the performance of the subscriber.