You can rest assured with one of the most trusted
Registered Chit Fund Companies in Hyderabad!
Welcome to myPaisaa
We have amplified the impact of chit funds by retaining the true nature of this financial tool while automating the process of handling. We’re enabling our investors with the ability to monitor chits digitally, we are able to safeguard and save so much of our customers’ money. Yes, we are one of the only Registered and Licensed Chit Funds in Hyderabad to offer such a low commission while most of them charge 5% commission.
With our highly trust-worthy and extremely transparent platform, myPaisaa is rebuilding people’s faith in chit funds. People are now leveraging their savings by investing in Government Approved Chit Funds in Hyderabad like myPaisaa.
Our customers are able to add assured value to their portfolio mix with our chit funds.
The true-value of myPaisaa chits
Registered Chit Fund Companies in Hyderabad like myPaisaa are not subject to risk at all in the first place. Unlike Stock and Crypto Markets, Licensed Chit Funds in Hyderabad like myPaisaa are subject to no Market Risk. As the money does not depend on external factors like business, compliance or operational risk, chit funds are not prone to market fluctuation at all. It is extremely stable to invest in.
Though we are one of the Government Approved Chit Funds in Hyderabad we at myPaisaa digitally verify the identity of the user digitally without any complications of collaterals or assurers. Unlike banks, where one has to spend an ample amount of time getting documents in place, looking for guarantors and collateral assurance.
Chit Funds are known for the passive income one can earn every month in the form of dividends. The subscribers of Chit Funds receive dividends that are much higher than the interest one may earn by investing in a bank or a deposit scheme. As one of the Registered Chit Fund Companies in Hyderabad, we at myPaisaa can assure you that you will receive your dividends regularly.
The interest you pay depends on the rate, the subscribers of the chit determine. Even so, the amount of interest you pay on your chit fund when you bid in the first month is much lower than the interest you would probably pay at a bank.
Chit Funds single handedly capture the essence of a loan and an RD altogether. Along with that they offer the owner of the fund, the flexibility to use it, as savings or as an investment. Earlier, one could only invest in traditional and community-based chit funds that were unrecognized and unregulated. Hence, rendering the image of chit funds. But with authentication and digitization, licensed Chit Funds in Hyderabad like myPaisaa are here to reclaim trust, like never before.
The myPaisaa myPaisaa Assurance
RegisteredmyPaisaa is one of the Registered Chit Fund Companies in Hyderabad. Chit Fund companies in India are governed by The Chit Fund Act 1982. Hence, they have to be registered accordingly. As all Registered Chit Fund companies, even our required documents like Pan Card, ID Proof, and bank documents have been verified. Thus, making us one of the Government Approved Chit Funds in Hyderabad.
BackedWe are backed by the Bharath Inclusion Initiative which is a seed fund program that supports startups developing solutions for the low and middle-class income category. We are also backed by D.I.P.P, which is a central government department under the Ministry of Commerce and Industry in India.
RegulatedmyPaisaa is one of the Registered Chit Fund Companies in Hyderabad that is regulated by the Registrar of Chits. In line with the Chit Funds Act, 1982, chit funds can be regulated and registered only by the respective state governments who appoint the Registrar of Chits. The Registrar of Chits can regulate the chit funds and ours is by the Telangana Registrar of Chits. You can visit the T-chits Government Portal anytime to verify our chit group and chit value, as it's mandatory for us to upload it there. Thus, verifying our stance as one of the Licensed Chit Funds in Hyderabad.
So get ready to sit back and start your easy process of registering on one of the best Government Approved Chit Funds in Hyderabad,that is myPaisaa.
It takes just 2 mins for you to get started.
With just your PAN card number, Aadhar details and face scan, we can onboard you in just 2 mins!
Right from receiving to making payments, you can transact through the App and monitor your chits with ease.
You will be notified about our e-auctions so that you can be prepared and take part in one, right from the comfort of your home.
We ensure payouts are made within 24hrs and that dividends are also paid on time.
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 offer 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 maybe low, you'll definitely see steady growth and a clear path to achieving your financial goals.
- Borrowing through chit funds 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. Chits are a reliable source of funds for emergencies.
myPaisaa is a simple app that enables you to build your savings by investing in goal-based chit plans. With this app, you get complete control over your chit plan. Unlike traditional chit funds, myPaisaa makes it easy to save for your goals, while giving you the option to borrow from your savings in case of emergencies.
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.
Registered chit funds regulated by the Government of India. A registered Chit Fund Company makes a security deposit of a sum equal to 100% of the chit value into a Scheduled Bank as FDR, which is pledged in favour of the Registrar of Chits. A Chit Fund cannot be started unless this deposit is made. Therefore, as a participant in Registered Chit Fund Companies in Hyderabad, like myPaisaa you can be rest assured that your investments are secure.
Studies by Edwin A. Locke and his colleagues have shown that specific and ambitious goals lead to better performance. So having a goal will help you save with more commitment, ultimately helping you realise your dream faster.