Vellangallur Peoples maintaining chitty funds in a very open and democratic process. Our chitties are well accepted in the society. We are very successful in this arena with a well established client base. We conduct chitty at an interval of 5 days. At present there are 12 MDS running successfully. We pay on the same day of the auction, if require. We provide high interest rates for re-deposits. Also, we provide passbook loans up to 80% of remittances. We arrange door collection and online payment services for remittances.

The total of the periodic subscription, called the chitty amount, will be given out as “prize money” to theperson who bids by allowing for the maximum reduction in the prize money. The maximum reductionpossible is 30% as per the approved bi-law and if there are more than one subscriber interested in bidding at 30% reduction, the numbers of the such bidders will be put to a draw.Thus each subscriber gets an opportunity to receive the prize money once during the tenure of thechitty. All the promoters have to contribute the periodic subscription till the end of the chitty.