Advantage of chit business

• Integra Chit Plus - Highlights
• Chit Management
• Accounts Management
• MIS and Statutory Reports
• What is Chit Fund
• How Chit Functioning
• History of Chit

What is Chit Fund

A Chit fund is a kind of savings as well as loan scheme. According to Section 2(b) of the Chit Fund Act, 1982, "Chit means a transaction whether called chit, chit fund, chitty, kuri or by any other name by or under which a person enters into an agreement with a specified of persons that every one of them shall subscribe a certain sum of money (or a certain quantity of grain instead) by way of periodical installments over a definite period and that each such subscriber shall, in his turn, as determined by lot or by auction or by tender or in such other manner as may be specified in the chit agreement, be entitled to the prize amount".

Advantage of chit business

• Creates regular saving mentality.
• High return of investment as auction discount.
• Easy and flexible procedure.
• Chit fund investments are not affected by any market fluctuations.
• Finance option through chit funds are easier to re-pay through the remaining monthly installments.
• Kerala Chit Fund Rules 2012