Best Chit Fund, Top online chits, Chit program
- Chit Funds have the advantage both for serving a need and as an investment. Money can be readily drawn in an emergency or could be continued as an investment.
- Interest rate is determined by the subscribers themselves, based on mutual decisions and varies from auction to auction.
- The money that you borrow is against your own future contributions.
- The amount is given on personal sureties too; unlike in banks and other financial institutions which demand a tangible security.
- Chit funds can be relied upon to satisfy personal needs. Unlike other financial institutions, you can draw upon your chit fund for any purpose – marriages, religious functions, medical expenses, children’s education, etc.
- Cost of intermediation is the lowest.
- Chit fund is a saving cum borrowing instrument, which is unique when compared to other financial systems.