September 29 2021 | Chit Funds |    VIEWS

10 Must-know Chit Fund Terms

chit fund terms

Chit Funds

The stock market has Bear and Bluechip. The Crypto Market has Whale and blockchain. Well, the Chit Fund market isn’t far behind. We indulge in our own share of lingo too. So brace yourself, to deep dive into the raw feelings of the thrill and excitement one feels, when they are in a relationship with their chit 😉

The Chit Fund Market, unlike the Gold, Stocks or Crypto Market does not fluctuate…At all. 

But that does not mean it isn’t a ride of emotions! So without further ado, let’s introduce you to the myPaisaa Chit Fund Glossary! 


When you realize that the chit fund you want to invest in is not only recognized by the Government of India and regulated by the Registrar of Chits, but is Complaint as per The Chit Act as well like myPaisaa is. 


When you have the privilege of choice when it comes to picking the chit plan you want to invest in, based on your goals. myPaisaa has many such choices for you, namely Chota Save, Bada Sava and Zyada Save, which are of the value Rs 50,000, Rs 1,00,00 & Rs 3,00,00 respectively.  


When you get to know that myPaisaa charges a nominal commission of 2% ONLY*, unlike other chit fund companies who charge a standard of 5% commission. 


The thrill and excitement you feel knowing that the world has progressed and now you can take part in an auction at the comfort of your home. Because thankfully, you invested in the myPaisaa Digital Chit Fund App, where we conduct e-auctions through our App. 


The sheer happiness you feel when you get to know you have to pay lower GST as your commission payment is lower, therefore allowing you to get better returns than traditional chit funds.


When you understand that dividends is a source of passive income you earn from investing in a chit fund. Whether you win the bid or not, they promptly make it to your Bank Account on time, no questions asked.


The relief you feel when you realize that you can contact the customer support at myPaisaa for any questions or doubts you have regarding your chit fund. 


The moment when pride kicks into your system when you win the bid at the e-auction at myPaisaa.


When you realize that there is an uncalled for financial emergency in your life, but you don’t have to worry since you’ve already invested in a chit fund. Hence, you can bid anytime you need the money without paying a fine.


When you’re surprised to know that returns you get from an FD are about 5-6% per annum. Whereas a chit fund gives you 10% interest per annum.


When you live in a peaceful zone and are never really tensed because by investing in a digital chit fund like myPaisaa, you’ve invested in a safe, fluctuation-free market. You have no numbers to calculate, no trends to follow but rather, just enjoy a calm state of mind.

Chit funds have zero risk, are fluctuation-free and keep your principle amount safe.

Reach out to us if you’re ready to invest in online chits!


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