Chit Fund Scheme – How It Works
Total Members: 20
Duration: 20 months Monthly Payment: ₹5,000 per member
Total Monthly Pool: ₹1,00,000 (20 members × ₹5,000)
Each month, all 20 members contribute ₹5,000. That creates a pot of ₹1,00,000 which will be given to one member through an auction system.
How the Auction Works
Every month, members can bid for the pot by offering a discount (a percentage they’re willing to forgo).
The highest discount wins.
The discounted amount is shared as a dividend among all members (after deducting a small commission for the foreman).
Scheme Overview
In this chit fund scheme, there are 20 members who each contribute ₹5,000 every month, creating a monthly pot of ₹1,00,000. Each month, one member gets to take this amount through a bidding process. For example, if a member wins the bid by offering a 25% discount, they will receive ₹75,000 from the pot (because ₹25,000 is the discount). From this ₹25,000 discount, a small commission of ₹5,000 is taken by the foreman (the person managing the chit), and the remaining ₹20,000 is equally distributed among all 20 members. That means every member, including the winner, receives ₹1,000 as a dividend that month. This way, members either get a chance to take a lump sum when they need it or earn monthly returns through dividends while continuing to save regularly.
Benefits Of Chits
Sudhinam Chits is a smart and secure way to save and borrow money within a group. In this scheme, 20 people come together and contribute ₹5,000 each every month, creating a monthly pot of ₹1,00,000. Every month, one member gets this money through a bidding process, where they offer a discount on the pot. For example, if a member wins by offering a 25% discount, they will receive ₹75,000. The remaining ₹25,000 is split—₹5,000 goes to Sudhinam Chits as commission, and ₹20,000 is shared among all members as a dividend. This means every member gets ₹1,000 back, reducing their next month's payment to just ₹4,000. This system continues for 20 months, ensuring that each member gets a chance to receive the lump sum once. It’s a great way to meet financial needs or save regularly, with the trust and transparency of Sudhinam Chits managing the process
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