Frequently Asked Questions
Find answers to all your queries about our service.
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Is YL Chits Private Limited government-registered?
YL Chits Private Limited is registered on 6 December 2013, under the Companies Act of 1956 and operates in compliance with relevant regulations and guidelines.
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How are the transactions recorded?
All transactions are recorded with complete transparency. Subscribers can view their payment history and transaction details through our mobile app. Monthly updates on bids and other relevant information are also sent via messages.
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How is the chit conducted?
Chit draws can be conducted both physically and online. Subscribers can participate in person or join the online meeting if they are unable to attend in person.
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What measures are in place to ensure fair bidding?
We employ a transparent bidding process where all bids are recorded and monitored to ensure fairness. The process is conducted in accordance with regulatory standards to maintain integrity.
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What if I am unable to come in person to make contributions?
We offer doorstep collection for subscribers who cannot visit in person. Additionally, contributions can be made online, with all transactions immediately recorded in the system and reflected in your mobile app.
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How is the dividend calculated and distributed?
Dividends are calculated based on the interest earned on the pooled funds. The dividend is distributed among all subscribers according to the fund’s policy, either as part of the bid amount or separately.
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Is my money safe with YL Chits?
Yes, YL Chits prioritizes security and transparency. All funds are managed responsibly, and the company adheres to strict regulatory standards to ensure the safety of subscriber investments.
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How can I contact customer support?
Customer support can be reached through our mobile app, website, or by phone. Our support team is available to assist with any queries or issues you may have.
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Are there any hidden charges or fees?
We are committed to transparency, and all charges or fees are clearly outlined in the terms and conditions provided to subscribers. There are no hidden charges.
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If I was unable to attend the E-Auction due to prior commitments, what steps should I take?
The company will notify subscribers of the E-Auction date in advance through their registered mobile number. If you miss an E-Auction, you will need to wait for the next scheduled E-Auction opportunity.
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How do I choose the right chit fund scheme for me?
Clients may seek guidance on selecting a chit fund that aligns with their financial goals, risk tolerance, and investment horizon.
