ChikimGroup

Terms And Conditions (Mega Saving Membership)

Effective Date: November 13, 2025

This is the first initiative of its kind in the Northeast Indian Region — a Multi-Saving Membership with a fixed term of 3 years — aimed at empowering micro businesses, small vendors, budding entrepreneurs, students, single parents, and financially struggling individuals, with a mission to reach the unreached.

1. Benefits and by-laws are as follows:

  • 1.1. Special provisions are exclusively available for members and will vary depending on the customer's membership criteria.

  • 1.2. The Royalty Borrowing Privilege is a valued benefit offered to members who have enrolled with a premium above ₹4,000 and have paid all premiums on time without any delays.

  • 1.3. In the event that a member applies for a loan or benefit without providing collateral, the approved amount will be limited to a value below the total premium paid as of the application date. The final sanctioned amount of which will be determined by the office.

  • 1.4. A zero-interest loan facility for a period of three months will be available to any member admitted to an Intensive Care Unit (ICU). The sanctioned amount will be case-dependent and subject to assessment.

  • 1.5. Provided facilities may be extended to one or more dependents, in accordance with the applicable rules and guidelines.

  • 1.6. There shall be a loyalty bonus for those who pay their premium regularly without a single month's or single day's delay. This bonus shall be limited to borrowing privilege bonus.

  • 1.7. A flexible and customizable repayment policy will be available for members.

  • 1.8. In the unfortunate event of a member's sudden death, a condolence benefit amounting to 25% of the total deposited funds, along with the full deposited amount, will be sanctioned to the nominee.

  • 1.9. Maturity Returns: Upon completion of the fixed term, members will receive interest returns of 15%, 21%, or 30%, depending on their membership criteria.

  • 1.10. Membership Criteria: There are four membership levels — Bronze, Silver, Gold, and Diamond — based on the premium payment criteria.

2. Payment Rules:

  • 2.1. The last date of payment for each member will align with their individual enrolment date. Members are strongly advised to make their premium payment on or before this due date. A late fee of ₹100 per day will apply for any payments made after the deadline.

  • 2.2. Members are required to pay monthly premiums regularly to maintain active status. Failure to pay one month will result in warning notice, and non-payment for two consecutive months will lead to automatic termination of membership and suspension of all benefits. Reinstatement may be allowed within 30 days upon clearance of dues and applicable fees as per management discretion.

  • 2.3. Premature withdrawal is strictly not permitted in order to protect the welfare of the scheme and the interests of all members.

All plans and policies mentioned herein are the sole and rightful property of CHIKIM ENTERPRISES PVT. LTD. (CHIKIM GROUP). Any unauthorized reproduction, modification, or use of these plans will result in strict legal action under the Indian Copyright Act, 1957.