Muthoot Pappachan Chits is a “Unique Financial Product” which takes care of both the savings and borrowing needs of the person. It allows people to keep aside their hard-earned money in a disciplined and compulsory way while giving them the option to convert it into a loan (Net Chit amount) in case of an emergency. It’s suited for both planned (fulfilling a need without loan) and emergency needs.
An excellent opportunity to add value to people’s lives by empowering them financially i.e., by providing them with the best option to save and borrow. We are looking for agents/ consultants who can work for us on a commission basis in order to enroll people to Muthoot Pappachan Chits. He/she will educate people about the benefits of Muthoot Pappachan Chits – a unique product that takes care of both saving and borrowing needs in a disciplined way & also materialize their needs without depending on a loan.
Minimum Qualification - Must pass 12th standard or an equivalent examination conducted by a recognised board or institution, age should be 18 years & above.
To be a part of the most trusted financial group – Muthoot Pappachan Group
Adequate income as per your performance
the entire Chits value
(not on subscription)
Can run as side business even along with your venture/profession
Can utilize the free time to earn additional income at your own pace
To help the society with financial inclusion
Muthoot Pappachan Chits, being an economical and the easier way of sourcing funds for business, is ideal for a businessmen. Also, as a saving cum borrowing product, it will suit the following class/criteria of people:
• Upper Lower, Middle, Higher & High Net worth Individuals.
• Salaried, Self Employed, Home Makers & Senior Citizens.
• Help people to accomplish their dreams without depending a loan.
• Our product helps in developing a saving habit of the customers.
• No one can predict a fund emergency. The need can arise any time in our life and our product can help them to manage this fund emergency by availing money through monthly Chits auction on specified dates.
• Our product’s share of discount depends on the dynamics of the groups. The share of discount provided by Muthoot Pappachan Chits is better than the interest of any other deposit or saving product.
A tool for nurturing investment habit and a compulsory saving.
Best way to reduce financial burden by reducing loan liability. Our product will help them opt for partial closure/full closure of their existing loan from the net chit amount.
To realize all their dreams such as taking abroad trips, buying new cars etc, without taking any loan.
Saving of surplus amount in a disciplined way, materializing needs like house renovation, marriage expenses, etc.
Another basket of investment to diversify their portfolio.
Economic & easy way of sourcing fund for working capital or to stock up for special seasons.
50 members every month contribute 10,000 each, which equals 5 lacs per month.
These 5 lacs will be distributed to a person through an auction.
Auction finalise @ 30% &
the bidder will get 3.5 Lacs
@ 5% of Gross Chit Amount
Share of Discount
Net Chit Amount
Gross Chit amount - Discount
At the time of enrollment
• In the KYC Form please affix your recent passport size photograph and sign across it.
• ID Proof and Current Address Proof.
At the time of net chit amount disbursement
• Income Proof & other documents specified for each type of security opted.
The Muthoot Pappachan Group, with a reputation that has been shaped over decades with high quality practices, total customer satisfaction and steady growth, spanning decades in the field of business, is a legacy built on God-given values of trust, truth, transparency and tradition and has become one of the top business houses today by the grace of God.