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Chit Funds

Save every month. Get a lump sum when your family or business needs it.

Chit groups of ₹50,000, ₹1 Lakh, ₹2 Lakh, ₹5 Lakh and ₹10 Lakh.

Ask about chit groups (opens WhatsApp in a new tab)
Smiling women at a self-help group meeting

Photo: McKay Savage, CC BY 2.0, cropped

What is a chit fund?

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  1. A chit fund is a group of members who each pay a fixed amount every month.

  2. Each month, all the money collected is given to one member. This is called the prize money.

  3. Members who have not yet received it can bid for it in a monthly auction. The member who accepts the biggest discount receives it that month.

  4. The discount is shared among all the members, which lowers what everyone pays the next month.

  5. Every member receives the prize money once during the chit period.

Choose your chit group

Five group values. Tap one to ask us about joining.

Instalment amounts, duration and commission are as per the chit agreement and the sanction issued by the Registrar of Chits.

How a chit group works

  1. Step 1: Choose a group

    Pick the chit value that fits your plans and what you can pay each month.

  2. Step 2: Register with documents

    Share your KYC documents and sign the chit agreement.

  3. Step 3: Pay your monthly instalment

    Pay the same amount every month, and always get a receipt.

  4. Step 4: Monthly auction

    Each month, members who have not yet received the prize money can bid for it.

  5. Step 5: Receive your prize money

    You receive the prize money once during the chit period, as per the chit agreement.

Why families choose chit funds

  • Disciplined monthly saving

    A fixed amount every month helps you save steadily for a goal.

  • A lump sum without collateral

    You can bid for the prize money when you need it, without pledging gold or property.

  • A group you know

    You save alongside other members from your own area.

  • An open auction

    The monthly auction is held in front of the members, so everyone sees how the prize money is decided.

Documents needed

Keep copies ready when you register. Our team will confirm what your group needs.

  • Aadhaar card
  • PAN card (or Form 60)
  • Passport-size photos
  • Address proof (if different from Aadhaar)
  • Bank passbook or account details

Chit fund questions

Looking to borrow instead? See our loans.

How is the prize money decided?

Each month, members who have not yet received the prize money can bid in the auction. The member who accepts the biggest discount receives the chit value minus that discount. After the foreman's commission, the discount is shared among all members.

What if I need money early?

You can bid in the monthly auction. A member who needs money early usually has to accept a bigger discount, so they receive less than the full chit value. The prize money is paid after you give the security required by the chit agreement.

What if I miss an instalment?

Tell us as soon as you can. The chit agreement sets out the charges for late payment and how a missed instalment affects your right to bid. Ask us on WhatsApp before the due date if you expect a delay.

What is the foreman's commission?

The foreman is the company that runs the chit group. It receives a commission for managing the group, the auctions and the records. By law the commission cannot be more than 7% of the chit value.

Is my money safe?

Under the Chit Funds Act, 1982 every chit group must be registered and sanctioned by the State Government before it starts. Always pay at our office or into the company's official account, never into a personal bank account, and always get a receipt.

Can I join more than one group?

It depends on the rules of each group and whether you can pay every instalment comfortably. Ask us on WhatsApp and we will help you choose.

Ready to start saving?

Tell us which chit value interests you. We reply on WhatsApp with the group details and the documents you need.

Ask about chit groups (opens WhatsApp in a new tab)See the groups