Best Chit Funds To Invest Your Money In

A new concept of saving and borrowing money,"the chit fund scheme" that originally started in the southern parts of India is now become a popular option parallel to the banking options. You would be surprised on knowing that the total size of the organized chit fund market is around 30,000 crore across the country. This work as a savings-cum-borrowing instrument. If you want to convert small savings into a lump sum, chit fund is the way to go. Though there are variations of chits where the savings are done for a specific purpose.

Investing in chit funds can be a risky affair if you invest your hard earned money in illegal chit funds who vanish after taking your money. So let's a take a look at the best chit funds where you can invest your money in.

Maxcare Chit Fund

Maxcare Chit Fund programmed offers a platform on which anyone with a deep desire to grow can achieve great results. It gives a marvelous and unlimited earnings for the efforts put in by you in marketing plan. Their Chit linked savings plan covers investment in Insurance, Mutual Fund,NBFC, Banks. They collect the amounts daily, weekly and monthly basis from the customer's premises depends upon their convenience. The duration of the groups ranges from 25 months to 50 months period. Maxcare is running monthly as well as Weekly Auction Groups so as to suit all type of subscribers. The company conducts several chits especially designed to invite the customers from all walks of life as well as different income groups.

 Sree Gokulam Chit & Finance

The Chit and finance business started in a modest way at Mylapore, Chennai on 23rd July 1968. It is unique in enforcing a ceiling of 25 percent on chit discount, even before the Chit Funds Act,1982 was enacted. Though the Act permits a discount upto 30 percent SREE GOKULAM still allows a maximum discount of 25 percent on all chits in order to protect the interests of all subscribers in general. Bank Fixed Deposit Receipts are being offered to the registrar as chit security. SREE GOKULAM Chit has become the favorite medium of savings or source of funds for more than 7,00,000 subscribers. A default less subscriber, who opts to take the chit payment on termination of the respective group, is eligible for a special incentive amounting to 1 percent of the Chit amount.

 Kapil Chit Funds

This is a 30 year old private limited company registered in the year 1981. Over the years, we have given service to over 4,00,000 subscribers. it is known for being a solid saving and support system that values every rupee its subscriber saves. they have schemes ranging from 25 months to 50 months. And the subscription amount ranges from 2000 for a chit value of 1,00,000 and 30,000 for a chit value of 15,00,000.

 Chandra Lakshmi

Chandra Lakshmi started to computerize in 1982. The biggest advantage that the institution of chit funds has to offer is that you can plan in advance for any forthcoming capital outflow even if you are not aware as regards the exact timing of such outflow. For example, a marriage may materialise in 5 months, or 15 or 25 months. That the event is certain, timing is not.

 KSFE

KSFE was created by the Government of Kerala on 6th November 1969. Chitty is the main product of KSFE. It is a unique financial product, which blends the advantages of both investment and advance. It is a risk free safe haven for the public as KSFE conducts only chitties fully governed by the provisions of Kerala Chitties Act, 1975.

The instalment per month for chitties range from 500 to 1,00,000 and the usual duration of chitties are 30 months, 40 months, 50 months, 60 months and 100 months.