FAQ
Frequently asked questions
Clear answers about chit funds, our schemes, and how to get started.
What is a chit fund?+
A chit fund is a savings and credit scheme where a group of members contribute a fixed amount monthly. One member receives the prize amount each month through auction.
How does a chit scheme work?+
Members pay the same monthly contribution. Each month, the prize is auctioned. The bidder accepting the highest discount wins; the discount (minus the foreman commission) is distributed as dividend to all members.
Who can join a chit scheme?+
Any individual with valid ID and address proof can typically join — including salaried professionals, business owners, traders, and homemakers.
How is the prize amount calculated?+
Prize Amount = Chit Value − Auction Discount. The actual amount depends on the auction outcome each month.
What is dividend in a chit?+
Dividend is the share of the auction discount (after deducting the foreman commission) distributed equally to all members.
What documents are required?+
Typically ID proof (Aadhaar / PAN), address proof, recent photograph, and income proof if applicable.
Can I choose a plan based on my monthly budget?+
Yes. Use our calculator to find plans that match your monthly capacity and goal, then enquire with an advisor.
How do I contact an advisor?+
You can call, WhatsApp, or submit the enquiry form. Our team will get in touch shortly.
Are calculator results final?+
No. They are indicative estimates. Final values depend on the registered chit agreement and actual auction outcomes.
Where are your branches located?+
We currently serve Chennai, Coimbatore, Madurai, Salem, and Tiruchirappalli, with expansion planned. See our Branches page for details.
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