What are the sureties to be submitted?

A member can give sureties depending on the future liability of the chit.

Following are the sureties generally submitted by the members.


  1. Personal Surety: Any salaried person working in State/Central Govt./Public Limited Companies/Banks and other Reputed Companies will be taken as surety.


  1. Income Tax Assessor: Any person having I T Assessment for the past three years having business, profession etc will be taken as sureties.


  1. Property Pledge: Deposit of title deeds of urban property can be submitted as surety. Third party property can also be given as surety.



  1. FD Pledge: If a member is having any deposit with Margadarsi Financiers, he can pledge the deposit certificate as surety. Member can also make the deposit from the prize money, which will be accepted as surety.


  1. Bank Guarantee: Guarantee given by the Bank in a schedule format can be submitted as surety.

Author: Kumar

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