Investing in online chits in Hyderabad is better than saving in a bank.
Welcome to myPaisaa
Yes, myPaisaa is a lucrative investment solution offering great returns on your savings! When you invest in online chits in Hyderabad like myPaisaa, you have the privilege to use it as you wish. Your chit fund can play the role of a loan or that of a savings scheme, based on your need.
So get ready to invest in myPaisaa, easily the Best Chits in Hyderabad, which is fluctuation-free, and gives a wholesome interest on your investment. myPaisaa is also registered by the Government of India and regulated by the Registrar of Chits that is appointed by the state. Thus, making it one of the safest Online Chits in Hyderabad for you to start your savings journey with.
With easy accessibility and a quick process of verification, we’re able to promote Financial Inclusion by ensuring all the rungs of society have a fair chance at investing in this savings solution. Borrowing through myPaisaa, the best Chits in Hyderabad is fairly simple as it takes just 2 mins to sign up. Moreover, the process of approval is quicker compared to the time a bank takes to approve.
Here are a list of reasons how myPaisaa is a far more reliable option to invest in compared to a bank:
High Interest on Investment
Avoid Processing Fees
No Guarantor & Paperwork
Currently one of the Best Chits in Hyderabad, myPaisaa has the greatest advantage over every other chit fund in the country with the pricing of its commission. Yes, we at myPaisaa charge only 2% commission, unlike other chits that charge between 5% - 8%.
By automating processes like dividend payouts, conducting e-auctions, prize money distribution, and initial verification, the money or rather your money we save is indirectly back in your hands as we charge a low commission. Apart from the staggeringly low commission of 2%, we also have other offerings that make myPaisaa one of the Best Chits in Hyderabad
4 auctions every month
We are well on our way to becoming not only the best chits in Hyderabad but the whole of India as well. With registration in place, a digitally compliant App and a steady following, we’re propelling people to appreciate the uniqueness of chits. We’re making people believe in the best of chits again, one download at a time!
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. Chit funds 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 withChit funds.
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. The best part about investing in Online Chits in Hyderabad like myPaisaa is that the returns are tax-free. Customers can enjoy the full value of their investments without any deductions.
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.
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.