Services
Chit Funds is a high risk low margin business. There have been many fly by night operators who have tarnished the image of this business sector. So when choosing to save and invest in chits, it is important to take an informed decision and invest only with companies who have a reliable track record. Since inception, honesty and transparency have been inbuilt into the DNA of our company. We enjoy a lot of goodwill in the markets we operate in and we guard our reputation closely. Over the past few decades, we have fulfilled our obligation towards customers by providing them honest, trustworthy and reliable service. It gives us great pleasure to have fulfilled the aspirations of our employees, who have grown with the company.
Frequently Asked Questions
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How is a chit fund a better saving option, when compared to a deposit in a Bank, Mutual fund etc.?
By joining a chit fund, a person is forced to save a small part of his income, to meet his planned/unplanned investments or expenditure. In case of contingency, borrowing from the chit fund is much easier, simpler, faster and cheaper than borrowing from a bank. The chit loss is normally lower than the market rate of interest. In case a person wants to save till the last, the return a subscriber gets by way of chit dividends is much higher than interest from banks on recurring deposits.
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Can I withdraw from a chit group after becoming a member?
When a subscriber withdraws, the foreman has to find an alternate subscriber in his place. Until then the chit fund company has to arrange funds on behalf of such a defaulting subscriber, for payment to a prized subscriber each month. Hence withdrawal is permitted, but the actual amount paid by the subscriber in the chit minus company commission will be repaid to such a defaulting subscriber at the end of the chit period.