coo@kadanthottufinance.com
04812420445
+91 85905 01947
coo@kadanthottufinance.com
04812420445
+91 85905 01947
A Chit fund is a kind of savings scheme practiced in India. A chit fund company is a company that manages, conducts, or supervises a chit scheme—as defined in Section of the Chit Funds Act, 1982. Chit Funds are indigenous financial institutions unique to South India and predating commercial banks. They have stood the test of time, as evidenced by the growth in the number of chit fund companies in the South. However, the importance of any financial institution cannot be judged by its numerical strength alone, but by its performance. Tracing back the history of the origin of chit funds reveals that they evolved at a time when banking facilities had not developed, thus filling an important credit gap in the economy. But with the growth of banks, chit funds were doomed to closure. However, on the contrary, vast expansions in the chit fund business were witnessed over the years, neck to neck with that of the banking system. Proof enough that chit funds continue to fill the credit gap in the developing economy of our country. Today chit fund companies are recognized as important credit and investment agencies.
- - Chits is the unique concept in India and considered as one of the indigenous savings options in the family, for more than a century. - Monthly Schemes do offer the way for Investors’ to invest in Assets like Car, House, etc., and for Borrowers’ to save short term to clear partly or fully the long-term Loans. These are all the factors adding values to this concept. Only product, in the financial Industry, that provides multiple benefits to Investor and Borrower as well. • The Chit Schemes are customized with the needs of Investor expecting good return on investment for their savings and for Borrower, sourcing the Fund at low cost to meet their Business contingencies. • The well-planned Chit Schemes, selected by the Investors may be used for the Marriage and Education of their children and also to invest in Assets like House/Flat, Car, Two-wheeler, Jewel and Consumer durables, etc. • The yield on investment is comparatively more than some of Bank FD and RD Schemes. • The Cost of Funds, mobilized through Chit Schemes, is low compared with the Cost of Borrowings from any Financial Institution • Hazzle free Documentation procedure to release the prize money amount with flexible requirement of Security / Surety to cover the liability in the Prized Chit(s)
Our 40 & 25 months Chit Scheme is a popular scheme among Working Professionals such as doctors, Nurses, Engineers and Business Man and Women in Kerala and well as abroad. Serving their purposes which is to save money for the unforeseen circumstances/ expenses. Savings plus Emergency fund The customers can join our chit and the monthly Installment could be transfers to our Kadanthottu Chits India Pvt Ltd account number and the receipt will be send to them electronically and by post providing a upmost COVID safety measures to safeguard our customers. The customers can join our chit and the monthly Installment could be transfers to our Kadanthottu Chits India Pvt Ltd account number and the receipt will be send to them online. There are various types of schemes to suit the needs of different class of people, like Individuals to Companies. At Kadanthottu we value even the low-income savers. Our chits range from as small as Rs.50,000 and above spreading over 25 and 40 months. It is suggested that Subscribers should ascertain the purpose of joining a chit scheme and select it in tune with their financial needs. The monthly allocation of surplus amount and duration of the Chit are playing vital role in selecting the Chit schemes. Normally, the benefits in the long duration chits are comparatively better than the short duration Chits.
