• OFFICES :

          TAMBARAM : (+91) 8098 8098 05           WEST MAMBALAM : (+91) 91 5051 8098           KANCHIPURAM : (+91) 91 5051 7098           CHENGALPATTU : (+91) 91 5075 6098           PADI : (+91) 91 5932 5098

Welcome To Sri Vaariyar Chit Funds Pvt Ltd

What Exactly Is Chit? "Chit" refers to a transaction (whether referred to as a chit fund, chit, or any other name) in which the foreman enters into an agreement with a number of subscribers that each of them will subscribe a certain sum for a specific period, and each subscriber will be entitled to a prized amount in turn, as determined by lot or auction. We believe that achieving your financial goals should be straightforward. That is why we have built a platform that is known for its high ethical standards and timely chit payouts. A new approach to save money and borrow it when you need it the most. Our well-trained people are constantly available to assist you with your needs, and we are completely progressive and transparent at every point of the transaction process.

The value and duration of a chit scheme are usually fixed. Each plan allows a specified number of participants (usually equal to the scheme's lifespan) who contribute a set amount to the 'pot' every month (or every day). Every month, the 'pot' is auctioned off. The 'pot' for that month goes to the highest bidder (also known as the prized subscriber). The coveted subscriber gets the sum of money equal to the chit value less the discount and the fixed charge to the foreman, and the bid amount is also known as the 'discount.' The discount money is then paid as a 'dividend' to the remaining members (or non-prized subscribers), and the needed contribution is reduced by the amount of dividend in the next month.

Currently, chits ranging in value from Rs.100,000 to Rs.50,00,000 are being sold. Our chits are all government-registered and follow stringent requirements. We are depositing 100 percent of the chit value with the government before launching the chits, as required by law, to preserve the public's interest and the company's financial health. Furthermore, before commencing a new transaction, we submit a detailed statement of finances to the government for verification and authorization, assuring complete transparency.

For the convenience of the subscriber collection for the chit on daily/weekly/monthly basis are made at their door steps. Auction for all schemes will be conducted once in a month. Time and date of 1st auction of the chit group will be intimated to all subscribers soon after the completion of the enrolment of each scheme.

WHAT CUSTOMERS SAY

I am sharing my experience with Srivaariyar chits for helping me with disciplined financial savings through chit funds. There are two important features of Srivaariyar chits that have made me a now a regular investor with them. Firstly the investments are limited to a maximum period of 25 Months and secondly, you are assured of a fixed return on your investment. I would strongly recommend cautions investors sitting on the fence to be rest assured while investing with Srivaariyar Chits Pvt Ltd; as the company has proved beyond doubt its credentials with the trust & goodwill of thousands of satisfied customers.
I wanted to save some money, so I decided to invest with Srivaariyar Chits Pvt.Ltd. I really liked their wide range of chit groups which matches to the need of people from different walks of life and the other confidence factor is that it is a registered chit fund company. I had some medical emergency for which I had to bid my chit and the amount was given to me on the promised time and process was hassle free.
I wanted to invest in a chit fund and set aside some money to be utilized for emergencies or use to go for a holiday. Now a days there are a lot of private chit funds organized by friends and relatives which can turnout to be risky as i have been duped earlier. Since Srivaariyar Chits is a registered company, I could trust that my money is in safe hands.