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About Our Company

What is a Chit Fund?

A chit fund is a time-tested savings and borrowing scheme where a group of people come together to contribute a fixed amount every month. Each month, one member of the group gets the collected amount through a transparent auction or lucky draw system. This continues until every member has received their share.

Why Choose a Chit Fund?

  • Disciplined Savings – You are motivated to save a fixed amount every month.
  • Easy Access to Funds – Unlike banks, where loans involve a lengthy process, chit funds give quicker access to money when required.
  • Transparent & Community-Based – Everything is managed openly with records and auctions, so members feel secure.
  • No Heavy Interest – It’s more flexible compared to traditional loans.
  • Suitable for Everyone – Business owners, salaried employees, and even homemakers benefit from chit funds.
Our Services

Flexible Chit Fund Plans Tailored for You

We offer a variety of chit fund schemes to meet your financial needs — whether you're saving for a dream, investing in your business, or managing emergency expenses.

Monthly Chit Schemes

Start with affordable monthly contributions and benefit from lump sum withdrawals when needed.

Business Support Chits

Ideal for traders and small businesses to handle seasonal cash flows and working capital.

Short-Term Chits

Fast-track your savings with short-duration plans designed for urgent needs.

Custom Group Chits

Form your own chit group with friends or community members under our trusted platform.

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Blog

Smart Savings, Smarter Borrowing: The Power of Chit Funds

In today’s world, everyone wants a safe and reliable way to manage money. Whether it’s for savings, emergencies, or business investments, financial planning plays a crucial role. While banks and other financial institutions offer various products, one traditional yet highly effective system still stands strong—Chit Funds.

Frequently Asked Questions

The Management of 'Anusthubha Chits' strictly implements the policy of depositing money received from chit subscribers towards their monthly chit installment into a separate exclusive bank account, to be used exclusively for payment to chit subscribers only.

Your money is completely safe with Anusthubha Chits, a registered Chit Fund under the Chit Funds Act, backed by several years of proven experience in managing chit schemes with transparency and trust. As a proud unit of the reputed Samudyatha Group, which is well known for its strong presence in hospitality, hotels and restaurants, banquets, beach resorts, accounting, and financial services, Anusthubha Chits ensures disciplined savings, secure investments, and timely payouts. With proper documentation, regulated operations, and the financial credibility of Samudyatha Group, you can be assured that your hard-earned money is in safe and trusted hands.

You should join Anusthubha Chits, a trusted unit of Samudyatha Group, which is a well-known and reputed brand in the region with strong presence in hospitality, hotels and restaurants, banquets, beach resorts, accounting, and financial services. Backed by the credibility and experience of Samudyatha Group, Anusthubha Chits ensures a safe, transparent, and reliable platform for disciplined savings, timely payouts, and better financial returns. With its strong foundation and trusted name, it not only provides financial security but also gives members the confidence of being part of a reputed business group that values trust and long-term relationships.

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. In case a person wants to save till the end of chit period, the return a subscriber gets by way of chit dividends is much higher than bank deposits.

In a chit fund, a prized subscriber is the member who wins the auction or is selected in the draw for that particular month and becomes eligible to receive the chit amount (lump sum money).

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

By investing in chit funds, you can build great savings with higher interest rates as compared to your savings in a bank. Chit Fund investment encourages people to set aside a small part of their monthly income for long-term wealth creation and allows them to fulfill their dreams and life goals with a significant finance pool.

Additionally, subscribers can also raise money for their short-term needs with flexible loans by participating in monthly auctions and winning prize money.

A subscriber is also entitled to a rebate on prompt payments of monthly chit installments.

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.

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

An auction is a procedure that allows subscribers to borrow money by bidding for the chit fund value at a discount. A bidder who offers the maximum permissible discount on the chit fund value wins the discounted sum as prize money. Hence, auctions enable the subscribers to borrow and raise money to finance their short-term needs.

Note: Since the prize money serves as a borrowing instrument for the prized subscriber (winning subscriber), the foreman (chits company) collects sufficient security from him/her to safeguard the interests of the remaining subscribers.

A Chit Dividend is the amount each member of a chit group receives as their share of the auction discount when the prized subscriber takes the chit amount at a lower bid. After deducting the foreman’s commission, the remaining discount is equally distributed among all members, and this distributed share is called the dividend. The dividend reduces the net monthly contribution payable by each member, making chit funds not only a way to access lump-sum money but also a rewarding system of disciplined savings.

In a chit fund, a lot (tie or draw) refers to the method of selecting the prized subscriber when more than one member is willing to take the chit amount at the maximum allowable discount, or when it is the first month and no one bids. In such cases, the winner is chosen through a lottery/draw system conducted transparently in front of all members. This ensures fairness, giving every eligible member an equal chance to become the prized subscriber for that month.

Hence normally for all chits a minimum of three sureties or guarantors other than family members are insisted upon. The monthly basic salary or taxable income of all such sureties or guarantors should not be less than 20% of the chits’ future liability.

The foreman or chit fund company benefits primarily through the foreman’s commission, which is fixed at 5% of the chit value as permitted under the Chit Funds Act, for managing and conducting the scheme. Additionally, by running the chit transparently and efficiently, the foreman earns goodwill, strengthens the company’s reputation, and builds long-term trust with members, which contributes to the overall growth of the business.

All activities of the company are regulated/monitored by the government department under 'The Chit Fund Act 1982'.

Sureties and guarantors are taken in a chit fund in order to safeguard the interest of all non-prized subscribers. Since the prized subscriber receives the lump-sum chit amount before completing all future installments, sureties or guarantors act as a safeguard to ensure that the subscriber continues to pay regularly until the end of the chit term. This system provides financial security, builds confidence among members, and protects the chit from the risk of default.

Non-prized subscribers who delay their monthly contributions to the chit fund are required to pay a penal interest over their subsequent contribution(s). If they default indefinitely for a period of 3 months, they will be removed from the chit fund scheme. In such cases where the subscriber is removed, the actual (total) amount contributed by him/her is paid back after applicable deductions towards company commissions. Such paybacks are made only post the entire chit fund duration or after the removed subscriber is replaced by a new one.

On the other hand, if a prized subscriber indefinitely defaults on payments for a period of three months, a penal interest of 6% will be collected from them and their dividends will be withheld. Legal action will be initiated against them and their guarantors in court of law for recovery of all dues. They will also be made to pay all future installments in one go.

When a subscriber withdraws, the foreman has to find an alternate subscriber in his place. Until then the chit fund company has to arrange funds on behalf of such a defaulting subscriber, for payment to a prized subscriber each month. Hence withdrawal is permitted, but the actual amount paid by the subscriber in the chit minus company commission will be repaid to such a defaulting subscriber at the end of the chit period, or after receiving all chit installments from the substituted chit subscriber.

Payment can be paid within 72 hours after completion of all legal documentation.

The chit loss can be deducted from the income from profession or business. The net surplus or dividends after completion of the chit period need to be offered as income, but some courts have ruled that this income is not subject to income tax.

Yes you can make payments at any Anusthubha Chits branch.

All the dividends receivable till date of joining the group are given to the member joining a vacant chit.

Registered chit funds are regulated by the government departments, Unregistered chit funds are prohibited by the government and the subscriber will be at the mercy of the promoter without support from government agencies.
Customer Reviews

Trusted by Our Customers

“Safe and Trustworthy”
I have been a member of Anusthubha Chits for the last few years, and I can confidently say they are very transparent and trustworthy. All transactions are welldocumented, and the staff ensures that members clearly understand the process. A safe choice for savings and investments!

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Mr. Ravishankar

“Excellent Service & Support”
The team at Anusthubha Chits is very professional and supportive. They patiently explain every detail and guide us throughout the chit period. I really appreciate their customer-first approach.

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Mrs. Nayana

“Best Way to Save & Borrow”
Joining Anusthubha Chits has helped me save regularly, and when I needed funds urgently, I was able to get my chit amount on time without any hassle. A perfect blend of savings and financial support!

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Mr.Suresh Bhat

“Transparent and Reliable”
What I liked the most is the transparency in auctions and documentation. No hidden charges, everything is explained upfront. I feel very secure with my investment here.

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Mr. Naveen Ganiga

“Highly Recommended”
For anyone looking for a disciplined way of saving and easy access to funds when required, Anusthubha Chits is the best option. I’ve recommended it to many of my friends and family members, and they are equally satisfied.

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Dr.Harshith

Saving Together, Growing Together

Call Us Now
9482639777

Saving is easier when done together. With chit funds, we turn small contributions into big opportunities.

Contact
Address
Kanchan’s Complex, Near Bank of Baroda, Kota, Udupi District- 576221
Email
info@anusthubhachits.com
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