About Us

about Us

About Company

The registered chit fund investment is the most ingenius investment devised by the people of our country. A two-in-one saving-cum-borrowing investment option evolved over 200 years. Imbued with the practical wisdom of the enlightened communities of India. Truly timeless. Truly Indian. Staying in tune with the prevailing money market conditions of our times. Today, possibly yielding the highest return of dividend on your investment.

  • What are Chit Funds?

    A chit fund is initiated when a person enters an agreement with a specific number of people to subscribe to a specific sum of money.

  • How does chit funds work?

    A Chit Group starts with a formation of a group (subscribers) who contribute a fixed amount (installment) and the accumulated amount.

  • Why Bhagavathi Chit Funds

    We are more than a chit fund company. Develop and help smaller chit funds companies thrive and spur community growth.

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Our vision
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Complete Safety

At Bhagavathi, provisions of the chit fund act, 1982 are strictly followed.

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Repayment Protection

To protect the interest of the group subscribers.

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Payment of Prize Money

Every subscribers is eligible to participate in the auction.

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Pass Book Facility

Pass book will be issued by Bhagavathi chits fund to each member.

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frequently asked questions

We are a 22 year old company with excellent track record. We have never had a default and have always kept up our commitments. We are government registered chit fund and are subjected to regular and periodical scrutiny by the office of registrar of chits. Join Bhagavathi and Know Your Self.

Before we start a chit group we place a FD equal to the chit denomination, with the registrar of chits.
We accept payments only through cheques and all our payouts are in form of cheques.
The prized money is released only upon receipt of proper securities to cover the future installments. This ensures that the investor’s interest is protected.

The deposits with banks fetch up to 10% PA whereas chit funds can give returns of up to 18%. Whereas returns from mutual funds are dependent upon market conditions. These factors have no effect on chit groups.

The chit groups vary from one lakhs to thirty lakhs.

The duration of the chit groups vary from 20 months to maximum 40 months.

The subscribers opting for vacant chits are eligible for all the dividends that have been declared from the beginning. Usually chits that have been vacant for more than 5-6 months are attractive.

Easy paper work
Transparency
Attractive dividends
Easy and flexible terms of payments
Tailor made to suit customer requirements
Various Chit Denominations to choose From.

When a subscriber has been awarded a chit at 30 %, it works out as a loan taken at 18%pa which is much cheaper than loans available else where.

We accept payments only through cheques and all our payments will be through cheques as well..

The can have multiple tickets in a same chit group. However the actual numbers of chits you can subscribe to in a same chit group is subject to the foreman’s discretion. However you can subscribe to several chits of different denominations.

Yes payments can be made at other branches. We currently have a branch office at udupi.

Registered chit fund are subject to various scrutiny from the registrar of chits. Also the registered chits funds are required to place a fixed deposit equal to the denomination of the chit with the registrar of chits. This fixed deposit will be released to the chit fund company only after the last subscriber has been paid off.

There are no such restrictions on unregistered chits.

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