What is Chitcare

A chit, also known as a chit fund or chitty, refers to a financial arrangement where an individual enters into an agreement with a specified group of people. In this agreement, each participant agrees to contribute a predetermined sum of money through periodic instalments over a defined period. Each contributor, as determined by the chit agreement, becomes eligible for a prize amount through a predetermined method, which can involve participation, a lottery-like drawing, or a bidding process.

Chit funds have long been a popular method of both saving and earning money. The concept of chit funds is built on the principle of mutual cooperation. In this scheme, a group of individuals collaborates to make fixed periodic contributions, and the accumulated sum is distributed in turns to each member. Chitcare companies typically administer these chit funds, overseeing the entire process.

Our comprehensive chit fund management software streamlines all the routine operations of a chit fund organization, even those with multiple branches. This software enables your company to conduct all transactions digitally, eliminating the need for paper-based processes. Moreover, it ensures that every transaction is promptly communicated to the relevant individuals, reducing the likelihood of errors. Each user is provided with a customized dashboard based on their role within the organization, facilitating quick decision-making to achieve optimal results. The software also includes automated SMS, voice call, and email notifications to ensure seamless communication and efficient operation.

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