Get a lot more, for just a little
Chit groups are an extremely versatile financial tool that allow you to save money at better rates than comparable banking products (such as Recurring Deposits) and borrow more money than you have saved whenever you need it. Regardless of whether you borrow early or late during the group, you earn healthy dividends every month.
Join a group
Join a Group and contribute to
the pot monthly for a fixed tenure
Bid to win
Bid to win the pot anytime during the tenure of your payments. Remember lowest bidder wins
Dividend
Dividend is distributed equally divided among the group members, including the bid winner.
The Cycle is repeated
The cycle is repeated each month,
until all the members win a bid
package deals for
Our Scheme
" Price is what you pay. Value is what you get ". So we firmly believe that value is
what you’re looking for.
what you’re looking for.
Silver
$ 24 / month
“Best suited for salaried, daily bread winners - annual income less than 6 lakhs”
- Starting @ Rs.5000/- per month
- Minimum Tenure - 20 months
- Maximum Tenure - 60 months
- Dual Advantage- Savings & Borrowing
- Regulated by the Chit Funds ACT 1982
- * T&C Apply
Gold
$ 49 / month
“Best suited for professionals like doctors, engineers, Auditor, Lawyer, Professor etc”
- Starting @ Rs.10000/- per month
- Minimum Tenure - 20 months
- Maximum Tenure - 60 months
- Dual Advantage- Savings & Borrowing
- Regulated by the Chit Funds ACT 1982
- * T&C Apply
Diamond
$ 79 / month
“Best suited for SMEs, MSMEs, Retailers and, Small Business Owners”
- Starting @ Rs.15000/- per month
- Minimum Tenure - 20 months
- Maximum Tenure - 60 months
- Dual Advantage- Savings & Borrowing
- Regulated by the Chit Funds ACT 1982
- * T&C Apply
Platinum
$ 99 / month
“Best suited for larger corporates, manufactures, private limited companies"
- Starting @ Rs.25000/- per month
- Minimum Tenure - 20 months
- Maximum Tenure - 60 months
- Dual Advantage- Savings & Borrowing
- Regulated by the Chit Funds ACT 1982
- * T&C Apply
Chit Funds 101
For a more comprehensive understanding of how chit groups operate, please read the white paper published by us.
HERE IS WHAT THE LAW PROMISES EVERY MEMBER
Your rights as a chit fund subscriber
Ignorance is not bliss when it comes to knowing your rights as a chit customer. We have outlined some of the most important rights that you should know about while participating in a chit group.
Right to seek arbitration in case of a dispute, in the office of the Registrar as per Section 64 of the Chit Funds Act 1982.
Right to get the Prize Money amount before the next auction, once the chit is prized in your favour.
Right to attend the auction and bid during the auction. Some chit funds also allow you to appoint proxies.
Right to get a copy of the chit agreement and a proper receipt upon payment of subscription amount.
Right to inspect the chit record, registers, etc.
Right to ask for the PSO (previous sanction order) number. A chit company has to obtain a PSO for every chit group they run by paying necessary security deposits to the Registrar of chits.
Right to have your money parked safely in a separate bank account, if payment is not made within 30 days. In case the Prize Money is not collected within 30 days of the auction, the Chit Company is obligated to segregate the amount and deposit it in a separate bank account. This rule avoids any mismanagement of funds. As a chit subscriber, you have the right to ask for the details of the deposit, to ensure your money is kept safe.
The company that runs a chit should have the name Chits in their name and cannot be involved in any other business under that name. They cannot collect deposits or promise a return on investment on the deposits.
Right to ask for the auction details. After every auction, the Chit Company has to file the auction minutes with the registrar of chits. You have the right to ask for all the details on the auction conducted and this needs to be kept transparent.