Chit fund value, chit fund tickets, chit fund value, chit fund prize

Chit - Value Chit - Tickets

Chit-Value • Chit fund is considered as traditional financial machinery operated by different institutions that prevail in India. It is an indigenous mechanism which together combines savings as well as credit.

Chit Funds • This scheme is looked as an innovative access to finance and growth of low-income household savings. Chit funds are operating across diverse countries but they are identified differently in different countries.

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Chit Value • Chit funds is a very widely used investment and loan lending system in India. In a chit fund, a group of people agrees on a Chit value per head along the duration to arrive at the EMI. Every month the Chit will be open for auction and people in the group will participate in the auction.

Are chit funds modes of saving or modes of borrowing?

• The answer is they are both.

Typically those who enter a chit fund to borrow make high discount bids during the first few months.

They are desperate for the money and want to ensure that they land up with the 'pot' sooner rather than later.

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