1. How safe is my money with Infiniti Chit Funds Private Limited ?

Safety of one’s money in the hands of another person depends on the honesty and integrity of the person managing your funds. Infiniti Chit Funds working history of over 31 years reveals that they have not defaulted in repayment of any person’s money. In stray cases of delayed payments, interest for delay has been paid in all cases.

2. Why should I join Infiniti Chit Funds ?

Infiniti Chits is a professionally managed company in the service of its subscribers for over 31 years. It has been in this business since 1981. It is backed by a well diversified group, with a vast network of reputed banker and financial experts. In addition Infiniti Chits in the interest of its subscribers offers a discount % of the commission, if the installments are paid at the Infiniti Branch Office before the due date. There is also a provision for payment at any Infiniti Chit Fund Branch or collection of the monthly instalments from your doorstep. There are also plans for online payment.

3. How is a chit fund a better saving option, when compared to a deposit in a Bank, Mutual fund etc.?

By joining a chit fund, a person is forced to save a small part of his income, to meet his planned/unplanned investments or expenditure. In case of contingency, borrowing from the chit fund is much easier, simpler, faster and cheaper than borrowing from a bank. The chit loss is normally lower than the market rate of interest. In case a person wants to save till the last, the return a subscriber gets by way of chit dividends is much higher than interest from banks on recurring deposits.

4. Who is a prized subscriber ?

A subscriber who has lifted his chit or to whom the chit amount is paid is called a prized subscriber.

5. Who is a non-prized subscriber?

A subscriber who has not lifted his chit or to whom the chit amount has not been paid yet is called a non-prized subscriber

6. What are the benefits ?

Persons who want to save money and receive the prized/bid amount in the second half of the chit period, earn very much higher return (12-18% per year) than their periodic savings kept with a bank.Those in need of money are able to raise money by receiving the prized/bid amount when they are in need of money. The interest or chit loss in such cases is very much less than the market rates,All persons joining a chit group are forced to save a small amount of their income to finance their dream projects such as – purchasing a plot or building a house or meeting marriage expenses or buying domestic articles, or discharging an existing liability etc Each person who pays his periodic installments up to date is entitled to receive the prized amount at a period of his choice, after participating in a lottery/auction.

7. What are the benefits of receiving chit amount in the first few months, at a discount or loss ?

Since the successful bidder, in the initial few months is allowed to use the chit amount, for his personal use ahead of others, he offers to take the chit amount at a discount, after calculation interest and cost of funds. It may be noted that a successful bidder withdraws more money from the company, than he had already paid, and repays the excess amount withdrawn, in periodic installments until completion of the chit period. The excess amount so paid is known as chit loss.

8. What is auction discount ?

The difference between chit value and the amount at which a successful bidder takes a chit in a lottery auction is known as auction discount.

9. What is an auction ?

Auction is a procedure for identification of the non-prized subscriber who wants to take a chit amount at the highest permissible discount. All non-prized subscribers who have paid their installments up to date are allowed to participate in the auction for bidding up to the highest auction discount, within a period of five minutes allowed for each auction

10. What is chit dividend ?

Auction discount minus company commission (% less than normal market) is the total group dividend. Total group dividend is distributed equally amongst all the subscribers. This dividend so distributed is deducted from the next installment payable by the subscriber