All about chit funds

A chit fund is a group financial tool where a group of people come together to periodically save a pre-decided amount of money, pooling it in a 'pot'. The entire sum in the pot can then be borrowed by any of the group members.

Chit funds enable you to lead a financially sound life in a simple, systematic manner.

Did you know?
Chit funds are a form of ROSCAs (Rotating Savings and Credit Associations), a global financial phenomenon, that has helped millions of people achieve their goals. They are also known as chitty, kuri, kitty, committee, and beesi (or beeshi or VC) across India.

Nurture financial discipline, achieve 3x savings success

Research-led financial wisdom suggests that saving with groups helps individuals stick to their savings goals.

This results in 3 times more success in achieving financial goals.

Benefits of a chit fund

- Easy access to cash when you need it

- Plan ahead and never be delinquent again

- Reach your short- and mid- term goals faster

Hassle-free, liquid investments for a better life

Chit funds are a systematic saving scheme, that offers easy access to your savings and the flexibility to borrow much larger sums, whenever you need it.

Planned or unplanned, achieving your goals is easy once you start living the chit life.

Kitty party

From the simple home affairs to the lavish 5-star hotel get-togethers, we've all come across some form of kitty parties in India.

They function exactly like chit funds and are often called 'social chits'.

Regulated and government recognised

The Goverment of India legalised chit funds in 1982 under the Chit Fund Act. This indigenous form of ROSCAs has allowed Indians to prosper since before Independence.

Along with the central goverment, various state governments too have their own guidelines on operating a chit fund, ensuring higher levels of safety and regulation.

Working only with the best

In our endeavor to offer you the best financial solutions to achieve your goals, we ensure that all of our chit fund partners meet the most stringent quality parameters.

Some of the factors considered in selecting our partners include the satisfaction of their existing costumers, their past records of operations since inception and the most important one - their government registration.

A global financial phenomenon

ROSCAs, much like our chit funds, exist around the world in various forms and are the preferred financial tool of more than 1 billion people. They're known by various names globally, for example: Cundinas in Mexico, Pandeiros in Brazil, Arisan in Indonesia, Lending Circles in the USA, Partnerhand in West Indies, and Tandas in Latin America.

This form of group finance predates the modern banking system by a few centuries. While the exact origins of ROSCAs can't be determined, the earliest records of this financial tool's existence can be traced back to ancient India, making it the first ever Make in India product to go global!