How chits work
A chit is a group savings plan: everyone pays a fixed amount each month, and each month one member receives the full amount.
From joining to your payout
Pick a group
Choose a chit value and monthly installment that fit your budget, and check which months are open.
Get verified
Create an account, show interest, and complete KYC with ID, address, PAN, bank details and a nominee.
Pay monthly
Pay your installment by the due date every month. Each payment appears in your passbook.
Receive your amount
In your month (fixed chit) or after winning an auction (auction chit), the chit value is paid to your bank account.
You know your month in advance
When you join, you are given a month number. If you hold month 6 in a 20-month group, you receive the chit value in the 6th month. This is ideal when you know when you will need the money, such as a planned wedding or admission fee.
Bid when you need money sooner
Each month, members who have not yet received the amount can bid in the app. The member who accepts the biggest discount takes that month's amount. The discount, minus the company fee, is shared by all members as dividend, which lowers next month's installment.
Figures are an example only. Company fee and limits are set in each chit's agreement.
Good to know
When is the installment due?
Each group has a fixed due day every month. You will see the exact date and amount for every month in your passbook.
What if I miss a payment?
There is a grace period after the due date. If the installment is still unpaid after the grace period, the penalty stated in the agreement is added automatically.
Can I leave a group midway?
Please talk to us first. Exits are handled as per the chit agreement, and your slot may be transferred to a new member.
Where do I see my dividend?
Dividend is shown as an adjustment against each month's installment in your passbook, so the amount you pay is always clear.