Guarantor Eligibility Criteria



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We go the extra mile to give our users every opportunity to become a myPaisaa customer.

In case, you're unable to meet our eligibility criteria, worry not. Your friends or family can apply to be a guarantor for you. With a verified guarantor, you can go ahead and signup for a myPaisaa chit. Here's a checklist of the eligibility criteria to become a verified myPaisaa guarantor.

  1. The guarantor must be a salaried individual with an income that matches the chit group that his friend has applies for
  2. They should have a credit score of 700+ ( Check the credit score here)
  3. They should be a local resident of any of the locations that myPaisaa operates in.
  4. The guarantor should also submit valid KYC documents( Aadhaar and PAN), Income proof- payslip/3-month bank statements and current address proof.
  5. Soft copy of the above documents must be uploaded on the app.

Once all the documents are uploaded, the myPaisaa verification team will evaluate and approve his application. Our team will further reach out to you directly in case additional documents are required.

Kindly note that you have to comply with these conditions to become a myPaisaa customer.

Please check Guarantor's income details and pin codes here:

Chit value Income per month Credit score Location
25,000 18,000 and above 700+ can be from any place where we are operating
50,000 20,000 and above 700+ can be from any place where we are operating
100,000 30,000 and above 700+ can be from any place where we are operating
300,000 40,000 and above 700+ can be from any place where we are operating
500,000 50,000 and above 700+ can be from any place where we are operating

Rajahmundry Pincodes - 533559, 533201, 533214, 533342, 533406, 533104 ,533235, 534134, 533287, 534156 534211, 534216, 534218, 534222, 533237, 533238, 533101, 533102, 533367, 533522, 534313, 533262, 533125, 533292 534390, 534447, 533126, 533151, 533223, 534350, 533308 533101, 533255, 533105, 534201

Warangal Pincodes - 506133, 506008, 533004, 501301, 506001, 506015, 506007, 506003

Vizag Pincodes - 530030, 530016, 530042, 530003, 530020, 530026, 530027, 530040, 530022, 530007, 530008, 530017 530011, 530012 530015, 530026, 530044

Vijayawada Pincodes - 522020, 522014, 522036, 522002, 521101, 522001, 522004, 521226, 520007, 530010, 521201, 520011