When it comes to Chit Funds, Hyderabad, think myPaisaa!

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The city of Hyderabad has been synonymous with chit funds for years. This humble and robust investment tool has been a part of many Hyderabad households for times immemorial. myPaisaa, is bringing innovation to this robust tool at a grass-root level. Yes, when you think of Chit Funds, Hyderabad, think myPaisaa. We’re re-molding Chit Funds like never before!

We at myPaisaa, have built a new-age and digitally-reliant App that enables you to seamlessly handle your chit, your way! We’re eliminating every possibility of risk when it comes to investing in our chit fund. Moreover, with fool-proof, compliant processes we’re able to reduce commission charges drastically! Yes, with minimum amount of just 2% spent on commission and maximum amount of savings accrued, myPaisaa is undoubtedly the best chit fund in Hyderabad for you to invest in.

Chit Funds are that one unique financial instrument that is used by all classes of society. By increasing accessibility to a platform like ours that is reliable, regulated and completely transparent, we’re promoting financial inclusion in this country, one download at a time. Not just when it comes to chit funds in Hyderabad, but slowly, we’ll bring about this revolution all over India as well.

So join hands with myPaisaa Chit Funds, Hyderabad, to make India tap into the enormous potential of chit funds. 10,000 people have already trusted us with their savings as we’re fast-growing and on our way to becoming India’s most advanced Digital Chit Fund there is.

The Chit Fund investment process

Chit Funds are the only unique financial tool that couples your savings and borrowings. By investing in a chit fund, you can save and borrow at your ease, as you please! Here’s how the wondrous chit fund works

Step 1.

Onboarding - It takes just 2 mins to onboard! Yes, keep your Pan Card and Aadhar number ready as you’ll be instructed to share those details. Ensuing which, you’ll be asked to take a face scan. After these basics are fed into the App, voila! Your account is created.

Step 2.

Choose a Plan - We at myPaisaa have crafted 3 plans called Chota Sava, Bada Save and Zyaada Save, which are of the chit values Rs 50,000, Rs 1,00,000 and Rs 3,00,000 respectively. Choose a plan that best suits your goals and get ready to invest in myPaisaa, one of the best chit funds in Hyderabad.

Step 3.

Documentation - Right after you onboard and choose a plan, you’re asked to update two important documents. That is, your 3-month salary slips and your 6-month bank statement. We'll take about 48hrs to verify your account and we’ll update you when it’s verified.

Step 4.

Save timely - Right after your profile is verified, you will be added to a particular chit fund of the value you’ve chosen. Every month, you will be asked to make a payment of a fixed amount. This in turn creates the pool of money one can borrow from that particular month.

Step 5.

Bid & Withdraw - If as planned, you will not be in for the long haul due to an emergency, it’s alright. Unlike most Chit Funds in Hyderabad, at myPaisaa, you can participate in one of the 4 e-auctions we conduct every month! Take part, bid and win upto 98% of your chit value when you bid. That means that if you’re participating in a 3 lakh chit fund, you can earn upto Rs 2,94,000 through e-auctions.

Step 6.

Earn Dividends - Whether you win or lose the bid that particular month or don’t even participate in the e-auction, you will receive your timely dividend.

Step 7.

Invest wisely - Investing in Registered Chit Funds in Hyderabad like myPaisaa, is the most ideal way of sustainably growing your savings in a risk-free and fluctuation-free market. The best part is that, unlike banks where you will earn an interest of 5-6%, here you will earn 10% of assured interest. Moreover, you will save on GST as well, as your dividends and prize money is exempted from GST.

Chit funds is the right money tool for you

Chit Funds are a legacy savings tool. Its existence for ages can be factored in as one of the core reasons for believing in this financial tool. This is one of the rare savings schemes that thrived in the market back in the day when there was no governance or regulations in place for it.

But now, after The Chit Funds Act, formalization, and digitization, Chit Funds in Hyderabad and all over the country, will thrive all the more.

Here are some of the reasons people believe in this amazing financial tool:

FAQS

How safe is my account with myPaisaa?

When it comes to Chit Funds, Hyderabad, myPaisaa is the safest there is. At myPaisaa, we offer bank-level security for your account. We have enterprise-grade security measures in place to ensure that every detail, including personal and investment details are kept secure. Also, all chit plan information is reported to ROC, Telangana, so that you can visit the official T-Chits website and verify the chit details.

What is the difference between traditional chit funds and digital Chit Funds, Hyderabad, like myPaisaa?

Traditional chit fund companies operate using traditional, complicated manual processes. Customers are required to visit chit fund offices in order to participate in auctions, leading to the loss of valuable time and energy. With digital chits, you can enjoy all the benefits of a traditional chit fund at your convenience. Digital technology has also automated the entire process making chit funds much more transparent, reliable and easy for the millennial customers of today.

Are chit funds a substitute for mutual funds?

Mutual funds and chit funds serve different purposes. Mutual funds are long-term investments directly linked to market performance. There's no guarantee of you getting your principal amount back or making profits. Digital Chit funds, Hyderabad, like myPaisaa on the other hand, have zero market risk. They are a great tool for guaranteed short-term investments that enable you to save steadily for your goals and emergencies. Also, unlike mutual funds, you can both save and borrow with Chit funds.

How do I register for myPaisaa?

Joining myPaisaa is very simple.

Step 1: Download the myPaisaa app & complete your KYC with Aadhar, Pan & Selfie.

Step 2: Choose a chit plan that suits your goal and make payment.

Step 3: Submit your income proof documents under Menu 🡪 details 🡪 Documents in the app. And you are done.

Our team will validate and follow-up within 48-72 hrs once you submit your income proofs. Post which you shall receive communication via SMS, email and notifications.