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Monthly Chit Schemes

-   Our solutions are driven by your needs and conveniences. With Monthly Chit schemes, you can follow the intervals regularly on monthly basis at your preferred time. We shall serve you, so that you receive the best amongst the rest.

 

How it works

-   The subscribers invest a fixed sum amount every month as per their desired schemes. Visit our Schemes Page for information on the schemes available at People Tree Chits.

-   The subscribers may borrow the amount of the Chit Value once anytime within the prescribed duration of the chit scheme selected.

For example, if we consider the first scheme from People Tree Chits

            *A group of 40 people invest Rs. 5000 for a period of 40 months

          *The Chit value summing to 200,000 (i.e. 5000x40) is available for   borrowing within the prescribed duration.

-   On a prescribed every month, the subscribers of chit scheme will meet for a bidding session of Rs. 200,000

-   The organizer would begin the bidding at the rate of 5% and seal it at the highest rate of 30%

-   If there is more than one bidder then the winner will be selected by "picking the chit"

-   Suppose a bidder bids for Rs. 5,000 and then some challenges him for Rs. 5,100, followed by another one for Rs. 5,200, the auction thus progresses.

-   If the highest bid is 50,000, the auction is sealed.

-   The winning bidder would receive the amount of 150,000 from the chit value of 200,000. The details of the winners are available at the Latest News & Events page of People Tree Chits

-   The remaining 50,000 would be shared equally among the subscribers of the chit schemes

-   This is will go on as the duration prescribed by each scheme. One bidder wins the "Chit" only one in the entire period of the chit scheme.