Invest in Chit Funds online instead of applying for a loan!
Welcome to myPaisaa
It is a 100% digital App that enables you to invest in chit funds online. This implies, that all the processes and operations are automated, making it not only increasingly efficient but helps us save a lot of money which reflects in the low commission charge.
So brace yourself to invest in Chit Funds Online like myPaisaa - an AI-powered, skillfully crafted, and thoroughly beneficial fin-tech App that is designed for the 21st-century chits investor!
myPaisaa Chit Fund > Loan in a bank
You must have observed how many people are much more comfortable investing in a chit, over a bank. Well, that’s because even formalized and legal Chit fund Apps like myPaisaa, that enable you to invest in chits online have a lot of benefits to offer
Interest as low as 0%
Multiple Chit Plans to choose from
You receive dividends every month
Get started with your savings/borrowings journey!Begin your Savings Journey with myPaisaa!
Re-define what it means to take an old way of savings and use it immensely in a new way to help you make lucrative investments. Get ready to invest in chit funds online like myPaisaa, which are reliant, safe and easy to monitor.
Here’s how you can join the ever-growing myPaisaa team:
Download the myPaisaa App on Playstore or iOS.
Complete your KYC digitally.
Choose the chit plan that suits your needs.
Submit your income proof documents.
Await conformation from the myPaisaa team. or iOS.
Start your sustainable savings journey with the best online chit fund company!
There are 4 main advantages of investing in chit funds:
- Chit fund is the only financial instrument that allows customers to save and borrow from their own funds.
- Chit funds are one of the oldest forms of investments used by households to grow their money. Today, with FDs and RDs offering low-interest rates of 5-6%, chit funds have become a much more attractive investment that offers more returns, and more value for money.
- Chit funds bring discipline to both the saving and borrowing activities of individuals. While the money you set aside for chit funds may be low, you'll definitely see steady growth and a clear path to achieving your financial goals.
- Borrowing through a chit fund company in Bangalore is very easy and effective. As you're essentially borrowing from your own savings, the rate of interest is lower than market rates and can be as low as 0% depending on when you borrow from your plan. Hence, an Online chit fund App like myPaisaa is a reliable source of funds for emergencies.
Recurring deposits offer low-interest rates of 5-6% per annum. Also, if a customer withdraws from the RD before maturity they're charged a penalty. Moreover, RD returns are taxable too. However, customers who save in chit funds can expect much higher returns - up to 10% per annum. They can participate in online auctions and get their money in advance. There's the additional benefit of borrowing from your fund in case of emergencies. When you invest in chit funds online like myPaisaa, the returns are tax-free. Customers can enjoy the full value of their investments without any deductions.
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. But when you invest in chit funds online like myPaisaa, 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.
You need to submit KYC documents that include your PAN and Aadhaar card to join a chit plan. If you are a salaried person – 6 months Bank statement and 3 months payslips. If you are a business owner 6 months Bank statement, ITR & any one of -Business licenses/GST/Rental Agreements. If your residential address is different from the address on the Aadhaar card, then we'll require address proof as well.