Chit Funds is a 1000 years old micro-financing instrument followed through trusted social network of friends and family.
Chit Funds has helped millions of people to get out of poverty, helped them to succeed in their business, helped them to send their kids to school, helped them to undergo expensive life-saving surgeries, helped them to pay-off their high interest loans. It might be of help to you as well.
Chit Funds flourish in several developing countries, especially in India, Central African countries, South-east Asian countries.
Bouman (1979), estimates that, in central African countries, about 20% of household savings are accumulated through chit funds. In Tamil Nadu (state in India) annual turnover in chit Funds is 2.5 billion US dollars (G. Ranga Rao, 2001). In Andrapradesh (another state in India), annual turnover is 1.6 billion US dollars (IMFR, 2009). Chit Funds is practised all through out 25 states in India.
Chittai is the first of its kind online platform through which you can run and participate in Chit Funds in matter of minutes.
It has all the necessary tools including funds transfer, transaction history, participant management, reports, sample schedules and several more.
