Best Chitfund Companies in India

A chit fund is defined under the Chit Funds Act, 1982 as per Section 2(b) a chit fund is a rotating saving scheme that has been a part of India’s financial system for more than a century now. It is also known as chit.

Chit funds are often referred to as microfinance organizations. Chit funds work under Chit Funds Act, 1982, Chit Funds are also known as the Chitty, Kuree, and chit.

It is worth mentioning that there are over 10,000 registered chit funds in India. They are 5 different types of chit-fund companies. In this article, we are going to know about some of the best chit fund companies in India & going to grab the entire information about the best chit fund details in brief. All these chit fund companies maintain foreman to form chit groups, chit registrations, chit auctions, etc,...

List of Best ChitFund Companies:

1. Margadarsi Chit Fund

  • Margadarsi chit fund comes under the Margadarsi group of companies.
  • It was started in the year 1962 in the month of October by one of the Telugu states legendary Businesses man Ramoji Rao 
  • Initially started in Andhra Pradesh and expanded to other neighbouring states also.
  • It holds  4,500+  employees and 16,400 agents and maintains 108 branches throughout the above-mentioned places.
  • The company successfully made a turnover of 11,206 crores by crossing many milestones with 3 lakhs plus potential subscribers.   
  • Margadarsi Chit schemes start from Rs 5,000/- to 1 crore, for more details click margadarsi chit fund.

2. Shriram Chits

  • Shriram Chits comes under the Shriram Financial Services Group 
  • Started its operations in the year 1974, founded by  R. Thyagarajan.
  • Shriram currently holds a turnover of more than Rs3000 Crores, 947  Branches, and 55000 staff.
  • The happy customers of Shriram are more than 20 million.
  • chit value starts from 2 lakhs to 25 lakhs, for more details click Shriram chits.

3.  Kapil Chits

  • Kapil Chits got Incorporated under the companies Chit Funds act 1982, in the name of Kapil chit funds private limited. 
  • Kapil Chits was started in the year 1981, by Mr K. Vaman Rao, a chartered accountant.
  • The corporate and its subsidiaries are popularly called Kapil Chits. It's one of the biggest registered chit fund companies having over 450 offices.
  • Over 18 thousand persons are gainfully used with an annual chit auction turnover surpassing Rs 4,500 crores and has over ten lakh, happy customers, as of July 2019. 
  • Kapil chit Funds non-public restricted is the flagship company of the Kapil cluster.
  • The chit value starts from Rs 1 lakh, for more details click  Kapil chits.

4. Ksfe Chitty

  • KSFE stands for Kerala State Financial Enterprise limited
  • It was formed in the year 1969 on November 6th, with Thrissur as its headquarters.
  • They are giving employment to 7000 people with 600 branches and are famous in ksfe online chit payment.
  • ksfe chitty made a turnover of  ₹59000 Cr with 46 lakhs customers.
  • ksfe chitty starts from ₹1 lakh to ₹50 lakhs.
  • ksfe chitty handling many products, for more details click ksfe chitty.

5. Balussery Chits

  • Balussery Chit Fund is a leading chit Fund Company operating since 1947.
  • It is registered under the Chit Funds Act, 1982  in the name of Balussery Benefit Chit Fund Pvt. Ltd.
  • Balussery is employing 7900 people with a turnover of Rs 5900 crores.
  • Balussery Chits has successfully served over three million subscribers over the years.
  • Balussery Chits is the only chit Fund company to be rated positively by M-CRIL (MICRORATE, Washington).
  • Starting with a chit value of Rs 125/-, today it has touched Rs 30,00,000. for more details click balussery chits.

6. Gokulam Chits

  • The full name of Gokulam Chits is Sree Gokulam Chit & Finance Co. Pvt. Ltd.
  • Gokulam Chits started in the year 1968 23rd July by. A.M. Gopalan.
  • It has 463 branches and is employed more than 10 thousand.
  • The company's Turnover is more than Rs 500 crore as of March 2021.
  • Gokulam Chits made more than 1 crore subscribers be happy.
  • Gokulam Chits start from 1 Lakh to 1 crore, for more details click gokulam chits

7. Money Club  

  • Money Club was started by two old IIT Kharagpur students Manuraj Jain and  Surajit Ray in the year 2016.
  • It is a famous online chit-fund platform, it is serving more than 10,000 subscribers.
  • Money Club is headquartered in New Delhi with a community of 50+ employees.
  • It's a purely application-based system and serves in both Android & IOS systems.
  • Money Club conducts only online auctions.
  • Money Club starts from 1,000/- for more details click Android | IOS

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Also read: What is chit fund How it work

Questions & Answers

What are T-Chits?

T-Chits could be a revolutionary method of observation and administering the registered chit fund businesses in Telangana state. Project for observation chit funds won gold in “Excellence in Adopting rising.

What is the target of T-chit?

The objective of T-Chits is to concentrate on the challenges the regulator faces in administering the business and the method can a chit fund company