Everything you need to know about chit funds, our plans, the enrolment process, and how to get the most from your membership.
A chit fund is a traditional savings and credit scheme where a group of individuals contribute a fixed amount every month for a set period. Each month, one member receives the entire pooled amount through a bidding process, making it both a disciplined savings tool and an accessible source of credit.
Once you enrol in a plan, you contribute a fixed monthly instalment along with other group members. Each month, an auction is held where members bid for the pooled amount. The highest bidder (offering the largest discount) receives the fund, and the discount amount is distributed equally among all members as a dividend — effectively reducing everyone's net contribution.
Yes, when operated by a registered company under the Chit Funds Act, 1982. ChitCare demo is fully registered and supervised by the State Registrar of Chits. All transactions are documented, audited, and governed by law — providing members with strong legal protection throughout the plan tenure.
Each month, group members can submit bids indicating the discount they are willing to forgo in exchange for receiving the full pooled fund that month. The member offering the highest discount wins the auction and receives the pool minus the foreman's commission. The remaining discount amount is distributed among all members as a dividend, reducing future instalments.
Any Indian citizen above 18 years of age with a valid photo identity proof, address proof, and a PAN card can join our chit plans. Both salaried professionals and self-employed individuals are welcome. There are no strict income criteria for most plans.
You will need: a government-issued photo ID (Aadhaar, PAN, Passport or Voter ID), proof of current address, two recent passport-size photographs, and your PAN card. Business owners may be asked to provide additional business registration documents such as GST registration or a trade licence.
Yes. Once you submit your documents, our team reviews and processes your application promptly. In most cases, enrolment is completed within 2–3 working days. You will receive a copy of your chit agreement and your member account credentials upon successful enrolment.
Yes. ChitCare demo is registered under the Chit Funds Act, 1982 and operates under the supervision of the State Registrar of Chits. All auctions are conducted openly, every transaction is documented, and members receive regular account statements through our secure portal.
Monthly instalments can be paid by bank transfer (NEFT / IMPS / UPI), through our secure online customer portal, or in person at any of our branch offices. Payments are due within the first 10 days of each month as specified in your chit agreement.
Yes. Through the monthly auction process you can bid to receive the pooled fund amount earlier than your natural turn. The bid discount you offer is shared among all group members as a benefit — so early access is available at a transparent, mutually agreed cost.
A grace period is provided as per your chit agreement. Continued non-payment may attract penalties under the Chit Funds Act. We encourage members to inform us in advance if they anticipate any difficulty, so we can explore suitable arrangements together.
The foreman's commission is 5% of the chit value per month, as permitted under the Chit Funds Act, 1982. This is transparently disclosed in your chit agreement. The remaining portion of the auction discount, after the foreman's commission, is distributed among all group members as a dividend.
You can view your payment history, auction results, dividend credits, and remaining balance at any time through our secure online customer portal. Log in using the Login button on this website. The portal is accessible 24/7 from any device.
You can call or WhatsApp us, send an email, visit any of our branch offices, or fill in the enquiry form on our Contact page. Our team will respond within one business day.
Contact our customer support team by phone, email, or in person at any branch office. You can also raise a support request through the customer portal. Our team typically responds within one business day and resolves most issues promptly.
Yes. Many of our members run two or more chit plans simultaneously to meet different financial goals — for example, one plan for home ownership and another for their child's education. Our team can help you choose a combination of plans that fits your overall monthly budget.
Our team is always happy to help. Whether you want to understand how a chit plan works, need help choosing the right plan, or want to speak to someone before enrolling — we are just a call or message away.