It totally depends on the agreement you’ve entered into with the foreman responsible for conducting the chit fund program.
There are varied types of agreements that foreman enters into with different sections. It generally is a continuing installments for certain period and then a lucky draw for the prize winner.
Investing in a chit fund should be done only if you are in need of funds (return on your investment) in near future that a bank cannot give in that period of time. Otherwise, it will be wise not to invest in a chit fund.