About Muthoot Pappachan Chits (India) Pvt Ltd

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.

At Muthoot Blue, we are looking out for Agents/Consultants

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.

Why should you become an Agent/Consultant?

To be a part of the most trusted financial group – Muthoot Pappachan Group

Time Flexibility

Adequate income as per your performance

Reward/commission for 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

Benefits of Muthoot Pappachan Chits (India) Pvt Ltd

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.

Benefits according to different types of profiles

Early Jobbers

A tool for nurturing investment habit and a compulsory saving.

Middle Level Managers

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.

Senior Citizens

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.

High Net-worth Individuals

Another basket of investment to diversify their portfolio.


Economic & easy way of sourcing fund for working capital or to stock up for special seasons.

How does Muthoot Pappachan Chits function?

Let us assume
Gross Chit Amount = Rs.5 lacs (10,000 x 50) | Members = 50 | Duration = 50 months, auction finalised at 30%,

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

Forman Commission
@ 5% of Gross Chit Amount


Share of Discount
@ Rs.2500/person
(1.25 lacs/50)

1.25 Lacs

Net Chit Amount
(Auction Amt)=

Gross Chit amount - Discount

3.5 Lacs


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.

  • Gold Ornament can be pledged (safe custody with no interest) as security for Future Liability (FL).
  • Fixed Deposit of selected banks with a lien marked in favour of Muthoot Pappachan Chits (I) Pvt. Ltd. can be accepted as security.
  • Deposits of Group companies – Our group company deposit can be marked lien for FL.
  • Bank Guarantee letter from the bank and the expiry date of the letter should be 3 months after the termination of the Chit group.
  • Assignment of Life Insurance Policies – Original Policy & Surrender value certificate to be submitted.
  • Paid up subscription – Pledging of Non-Prized Chits, where the paid-up amount in the Non-Prized Chits should be more than the FL.
  • Equity Shares/MF/Bonds – Selected Securities in Demat form can be accepted.
  • Mortgage by Deposit of Title deeds – Local Urban property can be considered. Documents required are original sale deed, approved plan, link documents, EC for 13 years, latest TAX paid receipts, etc. The property market/ valuation should be 150% of the FL.
  • Personal Surety – Minimum of 3 personal surety and it may increase depending on the volume of FL.
  • Permanent Local Government Servants each drawing an unencumbered minimum monthly basic pay as prescribed by the Foreman.
  • Permanent local employees (PVT) in other Reputed companies and institutions, who have put in at least 7 years of service with Provident Fund, Gratuity and other benefits may also be accepted as sureties at the discretion of the Foreman. If all 3 are private employees, minimum 2 people should hold immovable property and provide photocopies of sales Deed with latest tax receipt.
  • Businessmen having secured and established business for at least 10 years with documentary proof of business established, to the satisfaction of the Foreman. Only Businessmen who own immovable properties are acceptable on submission of photocopies of Sale deed with latest house tax receipt.

We are part of Muthoot Blue

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.

  • Over 4,200 Branches across India
  • 132+ years of legacy
  • Over 24,000 employees serving millions of customer
  • Walk-in of over 1,00,000 customers per day