Thanks for the detailed yet another useful video. I also had experience with 1L chit in hometown. The second chit is for organiser, but he is also one among that 20 ppl. The reason for he collecting 2nd chit is to pay the person who selected upcoming month chits on time ( in case any delay from remaining 18 ppl to pay out) . Later he can collect from remaining pending ppl and keep it with him.
Mahesh amazing video 🎉. Nobody will explain to this much ground level. Only surprising thing is when u not taking the money for 20 months u got only 14%. That means only 7% per year. This is almost bank interest. For this they can prefer RD in bank. Why they are not choosing bank. Really confusing. That too no legal things in Chit. Worst case is person who organising this chit is getting lumpsum money at 2nd month itself. Without investing any money he got this much money at early stage. How people are preferring this
If one needs money for home construction or renovation, chit funds are the right one. A decade back, 100 months chits were available and if one is lucky in early draws below 24, it's really profitable, for, one needs to pay only remaining installments, no need to pay any interest. For such uses, even now chits are profitable. If we take loan we need to pay interest till we do inish the loan. For business people, chits are a boon. For savings purpose, post office or banks FD are best. Finally, we need to join chits in a fund which is registered and runs for at least 50 years without any adverse incidents.
Thanks for the detailed yet another useful video. I also had experience with 1L chit in hometown. The second chit is for organiser, but he is also one among that 20 ppl. The reason for he collecting 2nd chit is to pay the person who selected upcoming month chits on time ( in case any delay from remaining 18 ppl to pay out) . Later he can collect from remaining pending ppl and keep it with him.
Sir Can you provide your Excel sheet to checks and modifications to checks
Sir is there any helpline no to compliant against fraud chit fund company?
Some chits getting commission amount separately in the maturity amount 5 to 3 % again
So for 2 lakhs chit they get 3 to 4 lakhs
Mahesh amazing video 🎉. Nobody will explain to this much ground level. Only surprising thing is when u not taking the money for 20 months u got only 14%. That means only 7% per year. This is almost bank interest. For this they can prefer RD in bank. Why they are not choosing bank. Really confusing. That too no legal things in Chit. Worst case is person who organising this chit is getting lumpsum money at 2nd month itself. Without investing any money he got this much money at early stage. How people are preferring this
That's CAGR sir, so 14% is for all 20 months only
If one needs money for home construction or renovation, chit funds are the right one. A decade back, 100 months chits were available and if one is lucky in early draws below 24, it's really profitable, for, one needs to pay only remaining installments, no need to pay any interest. For such uses, even now chits are profitable. If we take loan we need to pay interest till we do inish the loan. For business people, chits are a boon. For savings purpose, post office or banks FD are best. Finally, we need to join chits in a fund which is registered and runs for at least 50 years without any adverse incidents.
Perfect
நன்றி sir எனக்கும் ரொம்ப நாள் சந்தேகம் இப்ப சரியா புரிந்தது
Thank you sir
Very detailey explain
Glad you liked it
Sir If it is legal, how to file a complaint? Where to file/ register complaint?
You have to contact an advocate
Super sir
NPS