About Us
DCPL started its chit fund business in the year 2006 and till now its auction turnover crosses more than five crores annually with different group of chits like Rs. 25,000, 30,000, 50,000, 1,00,000, 1,50,000, 2,00,000, 6,00,000, 9,00,000, 10,00,000, 12,00,000 and 25,00,000 and further we are plan to go higher value chit group. So being in existence for more than 17 years, DCPL has a reputation in the market for stability, reliability and integrity. Trustworthiness, transparency in operation, past proven performance and familiarity are important pre-requisites of a chit fund operator.
Our Services
Enrolment
You can enrol in DCPL chit either by personally visiting our office or through DCPL Agent/Adviser. We are strictly enforcing Know Your Customer (KYC) norm at the time of enrollment and customers are required to bring one passport size photograph, PAN card, income proof, address/identity proof for enrollment
Chit Group
Chit is a financial product which blends the advantages of both investment and borrowing. Chit Groups for fixed period (months) with different denominations will be started from time to time as per the demand from the public.
Dividend
The discount forgone at every auction will be distributed equally to all the subscribers as dividend after retaining 5% of the chit value towards Foreman’s commission & GST as applicable. Subscriber are supposed to pay gross monthly installment minus the dividend for the corresponding month. First installment is to be paid full and dividend starts from 2nd installment onwards
Auction
Auctions will be conducted at office every month on the fixed date and time. The date and time shall remain same till the termination of the chit except on public holidays due to reasons beyond the control of the foreman wherein auctions will be conducted on the next working day, the date and time of the auction will be informed. The bidding starts from 5% of the chit value which is Foreman’s Commission and maximum bidding percentage is 40%. The successful bidder is entitled to get the prize money equal to chit value minus the bidding amount (discount forgone) which includes Foreman Commission @ 5%. In case if more than one subscriber is interested to take the chit at 40%, successful bidder will be decided by lucky draw.
How to Participate in Bidding?
Only those subscriber whose payments are up-to-date will be allowed to participate in the bid. Bidding can be done either in person or through authorized person or by proxy letter to the Foreman. In case of cheque payment, subscriber will be allowed for bidding only if the cheque is realized before the auction time. Hence subscribers who make the payment by cheque are advised to pay at least 3 days before the auction date to avoid confusion. Bid offers over telephone / e-mail are not accepted.
