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.
- Easy access to cash when you need it
- Plan ahead and never be delinquent again
- Reach your short- and mid- term goals faster
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.
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.
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.
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!