Traditional Chits Vs. eChits

In our previous articles, we have made a clear comparison of how chits are a safe option for savings. We also made a caution that registered chits only provide you the much needed security. In this article, we will make a quick comparison of chits and eChits. For the benefit of the audience, we will define both the terms.

Chits Vs. Mutual Funds Vs. Recurring Deposits: What should you choose?

When it comes to small investments or savings, this is the most common question in the minds of general public. Out of the many options we have in this space, we are most prone towards the three options of chit funds, mutual funds and recurring deposits.

How Chit Fund Works?s

Many of us must have heard or have an impression how chits work informally from the instances we have seen with our common friends or a neighbour from the community. Let’s make a detailed effort as to understand how chit actually works. It’s a simple concept.

Six Reasons why you should invest in Chits

In our previous articles, we have made a clear comparison of how chits are a safe option for savings. We also made a caution that registered chits only provide you the much needed security. In this article, we will make a quick comparison of chits and eChits.

Story Of myPaisaa

They say, "Necessity is the mother of all inventions". The story of myPaisaa is no different. Like most Indians, we came through the grind, attained a good education in prestigious institutes in India & abroad. All of us reached good positions like AVP, DVP, CEO, Partner etc., in our corporate lives. Chit funds played a huge role in our lives as almost all major expenses were met by savings made by our parents in chit funds.

Chit Funds And Tax

In our previous articles, we have made a clear comparison of how chits are a safe option for savings. We also made a caution that registered chits only provide you the much needed security. In this article, we will make a quick comparison of chits and eChits. For the benefit of the audience, we will define both the terms

Registered Chit Funds & Scams

Registered Chit Funds Vs Fraudulent investment Schemes
Fraudulent investment schemes where investors are lured into parking their funds with promises of high returns are not unusual in India.

Registered Chits Vs. Unregistered Chits

In most of our previous articles, we focussed on educating the subscriber the importance of registered chit funds ahead of goodwill farming(unregistered) chit funds. Let us understand this with the help of the story of a lawyer.

Impact of eChits

eChits are the electronic or digital approach towards chits leveraging technology for the convenience of the subscribers. The following are the key features of eChits:

Customer Segments - What do they like in Chits?

It is a tough job to classify the customer segments in chits market in India as chits are a quick saving tool for all types of people and they are customized as per the needs of the subscriber. However in this article,

Why Should You Invest in Chits?

Investments or Savings are a vital part of everyone’s life to grow to the next level financially. It is also very important to choose aright financial savings or investment option to keep your investments safe and secure. Let us look at this scenario with a small story.

How should you select a Chit Scheme?

Selecting a chit scheme suitable to you helps you better in the long run. Let us look at the parameters that influence you while deciding on a chit scheme suitable to you through a small story. Manoj is a student in high school with an ambition to be an engineer in the next 8 years.

Understanding Chits and eChits

Chits have been an Indian concept where a section of people come together and pool money for a common purpose that benefits everyone. If you have a closer look at chits as a concept it is based on mutual trust with the registered chit fund companies in India,

Implementing 50/30/20 budget rule with our earnings

One fine evening, David was talking to his grandson who is just into teenage on the art of spending and saving money. David started explaining to his grandson how he used to save money during his youth days to stabilize the family financially.

How to save money for chits from your low salary?

Saving money is the top of everyone’s to-do list. Saving money before spending is the key to success. Saving comes after your key essentials and wants are met with. You cannot save without spending on your key essentials.