Discovering chit funds

Chit funds are a financial instrument believed to have originated in India sometime in the 1800s. They grew in popularity because they were more accessible than banks or other credit facilities catering to the urban and rural populace. In a chit fund, you contract with a predetermined group of participants to contribute a specific sum in regular installments over a defined period. Chit funds, more prevalent in Asian countries, have evolved and transformed in recent years. Financial institutions can formally announce their chit funds, and informal associations, where a group of friends, neighbours, or relatives get together, exist as well.

What works

Chit funds are flexible, making liquidity simple, and the goal is for the short term. They are easy to join and operate, offering higher rates of interest. What’s more, they also teach saving as a habit and financial discipline. One of the biggest takeaways of chit funds is that they bond the community and foster trust and kinship.
Why choose Nidhi

Any financial institution comes with risks, but your goal is to avoid unorganised firms that may be mismanaged and have legal and regulatory uncertainties that make you highly vulnerable. As New Zealand’s first registered chit company, Nidhi delivers peace of mind, as your financial interests are secure with us. We provide expert guidance, support, financial inclusion, transparency, security, and flexible access to funds while ensuring we build a community based on trust and mutual reliance. Nidhi Chit Bonds is your perfect choice.

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