“A Chit fund is a kind of savings scheme practiced in India. A chit fund company is a company that manages, conducts, or supervises such a chit fund” as defined in Section of the Chit Funds Act, 1982. Chit Funds is a unique financial instrument that helps customer segments over several decades by participating in a Chit Fund which is registered as per the Central Act and Governed by the State rules, the subscribers get a Safe, Better and Tax deferred dividends.
In today’s world where everything that can be duplicated all thanks to the advanced technology, it is difficult to locate genuine registered chit funds. But not anymore, all credits to ChitMonks: a neutral market place for promoting Chit Funds of Registered Chit Fund companies. ChitMonks is reimagining this traditional financial instrument using technology. They plan to bring different insights helping the subscribers, agents and foreman alike. Just receltly they have been a successful award winner at the TiE ISB Connect. They won the Guardian Angel award along with Stumagz.
As a subscriber with ChitMonks, you can wither be a Micro, Small and Medium Enterprise owner or a regular saver or a potential borrower tomorrow. You can choose a Chit which suits your capital needs and future requirements. ChitMonks help you to maximize your returns from the chits by considering your opportunity cost. Your rate of return is in your hands. ChitMonks help savers, borrowers, agents to get the best of the tool. Foreman companies will get benefited with genuine subscribers.
Choose ChitMonks because it offers the following unique benefits –
• It is a unique solution to chit funds: India’s first market place solution for Chit Funds
• It shows the available options in the market: One stop solution to check the available options in the market
• It is a neutral platform: Neutral platform to promote Chit Fund companies
• The services are fast: Faster service in enrolling you into chit group
• Store all your information on cloud: Anytime, anywhere access to all your chit groups information
• Flexible interest rates: Your interest rates in your hands
• Get expert advice: Best technical advices on how to manage your chits
• Notifications can be set: Messaging and notification services
How does the service work?
ChitMonks operates differently for the following three roles – Agent, Subscriber and foreman
For a subscriber:
Step #1: Explore and Search chits based on your need. Click “Interested” for a particular chit
Step #2: Get more information when the ChitMonks team will get in touch to help you enroll in chit Fund Company of your choice.
Step #3: Add your chit and track your interest rates
For an agent:
Step #1: Register yourself as an agent
Step #2: Add Chits and your subscribers.
Step #3: Track both the chit performance and help subscribers with bidding information
For a foreman:
Step #1: Provide your contact details.
Step #2: ChitMonks team will contact.
Step #3: Your best chit groups gets more reach @ ChitMonks
Using this unique online service you can register for chits ranging from Rs. 1, 00,000 to Rs. 50, 00,000 and above. This online portal has loads of registered chit fund companies subscribed including Kapil Chits, Rao Brother Chits, Indiranagar Chits, Shri Nikila Chits, Surabhi Chits etc. The chit duration is also flexible as you can opt for chits that end in just 20 months or that go beyond 50 months as well.
Currently, the chit funds facility is available in Andhra Pradesh, Delhi, Karnataka, Maharashtra, Tamil Nadu, and Telangana. So, what are you waiting for? Invest your saving in a smarter way and register with ChitMonks today!