Who does it Help ?
Who does it Help ?
A Chit is the Only Financial Product that allows you to Save and Borrow at the same time.
CHIT provides a good source of finance for different type of people viz., small investors, businessmen, small scale industrialists etc.
Small Investors
Chit funds offer a structured way for small investors to save and invest. They can participate with relatively low monthly contributions and have the opportunity to access a lump sum amount through auctions, helping them achieve their financial goals.
Businessmen
Business owners can use chit funds as a reliable source of funds for their working capital or expansion needs. Chit auctions can provide the necessary capital injection at the right time.
Salaried individuals
They can use chit funds as a supplementary savings method to complement their regular income. By contributing to a chit group, they can set aside funds for various purposes, such as buying a home, planning a vacation, or building an emergency fund.
Small Scale Industrialists
Chit funds offer an accessible financing option for small-scale industrialists who often struggle to secure funds from traditional financial institutions. Chit funds can be a lifeline for them to meet capital requirements and grow their businesses.
Individuals with Irregular Incomes
Chit funds are particularly beneficial for individuals with irregular incomes, such as freelancers or seasonal workers. They can save during their peak earning periods and access funds when needed, ensuring financial stability.
Financially Excluded Communities
Chit funds promote financial inclusion by providing access to money for those who may have limited access to mainstream banking services. This levels the financial playing field and empowers underserved communities
Entrepreneurship
Chit funds can be a source of capital for women entrepreneurs looking to start or expand their businesses. The lump-sum payouts from chit auctions can provide the necessary seed capital.
