CHIT FUND SOFTWARE - CALCULATE ALL YOUR CHIT OPERATIONAL PROCESS!!!

You can finally bid adieu to manual calculations! MazeChit has integrated features that will auto-calculate all chit related transactions including bonus percentages!

To purchase our chit fund software click here-> Chit fund Software or 1800-212-33-4646 / 7397723052.

Which is the leading chit fund software for both online and offline chit fund operations?

Chit fund software-MazeChit has significantly reduced the running time of many chit fund processes in businesses. The increasing digital application accompanies the users with its versatility. Similarly, the chit fund framework is also available in two ways that improve user-friendliness for chit fund owners. The enlisted ones are the two modes/options available in the chit fund software for the chit fund software buyers.

Online Mode

Chit fund software has been used by all sorts of companies starting from beginners to big enterprises. Online mode becomes the most comfortable mode which helps them to experience many benefits. Here are the advantages which can be earned by the chit fund owner when he switches over to the online mode in the chit fund software.

• Using the mobile application of the respective chit fund software bought by the owner, he/she can have live tracking regarding the payment transactions, auction details, and other essential information.
• Using the online mode, the bulk chit fund data can be stored in the cloud. It makes the data safe and secure under the hands of the chit fund software.
• In addition to the data security and the flexibility, the chit fund owner will get instant updates on prominent chit fund operations. For example, the owner can get payment updates irrespective of his/her location.
• Other than the chit fund operations, online mode supports the chit fund owners to manage their chit employees and subscribers effectively through the employee management and customer management system.

Offline Mode

Though things have become online, there are few chit fund owners who want to deal with their chit operations traditionally with the utmost flexibility. Those go along with the offline mode available in the chit fund software. Here are the reasons why chit fund owners wish to have an offline mode.

• Without any internet connection, the chit fund admin can view and manage the reports, receipts, auction details, and payment transactions.
• Though the data is not stored on the cloud, the user can have the option to store it in their system itself. It helps them to safeguard their data on their own risk.
• Moreover, the user will not face any connectivity issues which may help in boosting up the operations faster without any delay.

Both online and offline mode has been giving its own benefits to the chit fund owners. Before indulging in the chit fund software purchase, be clear with your requirement and go either for online or offline mode as per your convenience.

Chit Fund Software-MazeChit-Multiple Branch Handler

Instead of managing your chit branches separately, use MazeChit's multiple branch support to enhance profitable business flow.

To avail, free MazeChit live demo visit: Chit Fund Software-MazeChit or reach us at 1800-212-33-4646 / 7397723052.

What are the features of the Chit Fund software?

The advent of chit fund software has promoted chit fund operations effectively. Many enterprises are buying chit fund software in order to handle their chit fund operations flawlessly. Chit fund software contains many attractive features that help the owner to have easy access to multiple branches, getting instant payment updates from the collection agent, and many more. The features of the chit fund software have been detailed below.

The chit fund software available online can be accessed through web mode and mobile too. Here are the features of the web-based chit fund software.

• Multiple chit support: It helps in managing different types of chits including auction chit, slab based chit, profit chit, and commitment chit
• Security Management: It helps in automatic log out, password encryption, approval mapping, and log monitoring as well.
• Timely alerts and intimations: It helps in alerting the customers regarding the auction amount, auction date, and other relevant information.
• Effective Customer, employee and Group Management: It helps in managing the customers, employees, and chit groups by the chit owner.
• Clear Loan Modules: It helps the chit owners to get detailed loan payment details and reports.
• Transaction Reports: It helps in getting a detailed report about the income and the expense of the particular chit company.
• Collection Agent details: It enables the chit fund owner to have a clear note about the collection agent and their respective details.
• Multiple report Generation: It helps in generating multiple reports including auction report, collection report, business agent report, and many more.

Other than the web-based chit fund software, the mobile application helps in reducing complex chit operations. It also expands the comfort of the customers using the particular chit fund application. Thereby, the software helps in enabling a smooth communication between the customers, chit owner, and the employees as well. The distributive features of mobile application help the chit fund owner to do the enlisted things.

• Generation of both offline and online receipts
• Mapping employee to multiple customer locations
• Customer verification by Collection agent
• Device activate and deactivate operation of the agents

Having a chit fund software in an enterprise will enable the chit fund owner to have an easy operation flow without any hurdles. The chit fund owner can easily fetch any information about the chit auction or a particular collection report of an agent.

To know more about the chit fund software, reach us. ChitFund Software - Mazechit

How do I get maximum benefit from chit fund?

In many developing countries, chit funds have become economically the wise option. It has become popular among the household and the small business field. Chit funds serve as the best outcome in multiple and social functions.

In recent days, the participation of chit members in chit funds has been increased. Here is the reason behind it.

• A mechanism with the faster acquisition of expensive goods

• A commitment system for enhanced saving and borrowing options

• A sort of insurance against participants’ risk

• A social engagement platform

In India, chits ought to become an interesting context. It helps in re-examining its economic rationale. Chit funds have become more reliable in comparison with formal finance. It is due to the factors including standardised product features, institutionalised offerings, and formal finance.

Chit funds provide many benefits to the members who have been indulged in it. Though there are many chit fund companies, people are aware of the right organisation to move upon. Many people move toward chit funds due to the reason of both saving and borrowing money at the same time. Being a foreman also adds up an advantage.

When you are investing money in chit fund organisation, then the organisation remains as the chit foreman. Hence, all the transactions and auctions are ought to be conducted through the organisation itself. It is also a time-saving thing as nowadays, the organisations are focused upon using useful chit fund software.

The work of the software is to keep ahead all the works done and make the cash flow normal. It reminds the auction data to the members and helps in keeping the working environment normal.

Is investing in multiple chits advisable?

As chit fund becomes easy and recommended a form of saving, people wish to indulge in multiple chits. Investing in multiple chits at the same time is somewhat daunting. Hence, research has been needed to identify it in detail.

In a recent report, one in four people wishes to have more than one chit at a time. Due to the unique features and benefits of the chit funds, the members of the chit funds are moving toward investing in multiple chits. These are the benefits gained by the chit fund member. 

For more Clarification visit: Chit Fund Software Live Demo or contact us at toll free: 1800-200-1766 / 7397723052.

Can anyone from India explain a chit scheme with a simple example?

Chit fund industry has been evolving in the recent years. Chit funds are considered as the best saving option to which households can opt upon.

So, how chit funds work?

Let us start from the base. According to the Chit Fund Act, 1982, a chit fund is a type of rotating savings and agreements among multiple members. The members can be either colleagues, friends, relatives, neighbours. The members of the chit funds contribute a certain sum of money for a short period of time.

Say, if 50 members are there in a chit group. Each wish to contribute 1000 in a monthly basis for 10 months. If so, they will get a sum of 10,000 at the end. Chit funds are also known as Chitty, Kuree, and chit.

The picture explains the flow of money at chit funds in detail.

Are chit funds safe? Of course, yes!! Here is the reason!!

Before that, there is a person called foreman in every chit fund group. Every chit group selects one member among them as the foreman. He is responsible for the amount and the monthly auctions. In return, every month he will get 5% of the money given at the end of auction.

Before commencing the chit group, the foreman has to register the company with the registrar of chits. It is mandatory for every chit fund group either local chit group among relatives or a registered chit fund organisation.

During registering, the owner of the chit has to pay 100% of the chit value to the registrar of the chits. It is the resemblance of giving security. Once the chit group closes, the deposited amount can be withdrawn once every subscriber is free of his/her dues.

If the chit is not registered, neither the owner pays the security amount nor he is responsible for the amount deposited by the subscribers.

In other words,

Chit fund follows an exact analogy regarding kitty party. In the kitty party, the party will be arranged every month under different subscribers’ place. Likewise, chit fund subscribers contribute certain amount equally in a monthly basis and one subscriber gets the collected money.

The only difference between chit fund and kitty party is that lucky draw takes place in kitty party whereas in chit funds, auction takes place. Nowadays, many chit fund organisations have been involved in using chit fund software.

Chit fund software, but why?

Because, the chit fund software has become a handy solution for the hurdles faced by chit fund organisations. All the chits and other related data has been handled by the chit fund software. Other than that, the chit fund software helps in bringing up many benefits to the user.

To know more about visit: Chit Fund Software Free Live Demo

Do people have to pay less and get more in chit funds?

Chit funds is a very interesting process that gives the elapse of both saving and borrowing methods. The members of the chit fund can engage in spending a monthly amount which they will get back at the maturity date. There are more than 10,000 registered chit funds. Recently, many chit funds have been growing in the well organised way.

Coming to the question,

Do chit fund members get more in return when they pay less? The answer is everyone in the chit pays equally. But, the trick is when a member takes chit early, he/she will end up paying more. At the same time, when the member waits till the end, he/she will pay less and get more.

This is the mechanism behind the chit funds. Use it wise and bring many beneficial outputs using the best saving scheme named chit funds.

For more information and discussion click here : Chit Fund Software Live Demo  or contact us at toll free: 1800–200–1766 / 7397723052.

How does chit fund software work?

Having a chit fund software is like reducing your chit works half way. Chit fund software, a web-based application or a desktop application has been used by many chit fund companies in order to reduce the burden.

What does chit fund software brings in?

Mazechit, a chit fund application has been easing the accounting works of many chit fund owners. What is more about it? This is the prime question that strikes the reader's mind when they come across a chit fund software like Mazechit.

In reality, the chit fund application gives various advantages to its users through mobile integration. When you have multiple branches, Mazechit eases you with its diverse location access. It automatically sends reports to the mails and other phases. It also helps in payroll calculation.

Meanwhile, here are the enlisted features that has been offered by the chit fund software, Mazechit.

• Easy Access
• Software Usage
• Highly Secured
• Regular alerts
• Mobile App
• Custom - built

Easy access

Mazechit, a user friendly chit fund software enables the user to access their account anytime, anywhere. It can be implemented into your laptop, desktop, and other gadgets. If a company has multiple branches, the owner finds it easy to handle single access to information through Mazechit. Managing the business remotely increases the flexibility of the work.

Software Usage

Using Mazechit, the owner can handle accounts and work on it both online and offline. While the owner is in offline, they can also download files without any interruption. Even when there is no internet access, the software helps in handling the operations.

Highly secured

The software secures the information of the subscribers with high security. It ensures the confidentiality within the company. With the help of encrypted passwords, the information of the members remain safe for years. The information uploaded in the software will not be disclosed to anyone and none gains access to it.

Regular alerts

The main purpose of the software is to remind the users regarding the payment updates. As and when the members pays his/her instalment, he/she will be informed through message along with the receipt. Instant SMS alerts and email campaign helps the members to experience a smooth communication without any hassle.

Mobile app

Mazechit’s mobile app comforts the user with complete and quick coordination. Using the app, the chit fund owner can track down the chit fund collection agents, their location, and helps in follow up of their chit accounts too. The app also helps in paperless transactions.

Custom-built

As per the needs of the client, the software functions with its default facilities. As per customer’s preference, the option of customising the app is possible. The software has increased versatility to add or remove extensions.

For more details visit: Chit Fund Software Live Demo or contact us at toll free: 1800-200-1766 / 7397723052.

Is a chit fund a good saving instrument to invest money?

If chosen well, chit fund is definitely a good saving method to invest money.

Chit funds, a saving avenue has become popular within the short duration. There are many reasons to consider chit fund as a scam.

But, at the whole is a misconception that made chit funds under scam lists. There are around 10.000 registered chit fund companies which brings delight to the people’s money. The members of the chit funds are going toward the right saving method.

Around 10,000 registered chit funds, the Kerala government has the largest existence since 1969. Many financial advisors say that chit funds are the good investments that promotes a set of strict rules to avoid any mishaps.

We are providing our chit fund software for many registered companies to ease up their work.

How to choose chit fund company well?

Small investors consider it an option to enforce them in the monthly investment discipline. In the case of unbanked rural investor, they consider it a crucial step. They wish to choose the best chit fund company with years of experience.

It is better to research more before you choose investing in chit funds. Few people confuse chit funds with the kitty party.

A chit fund is a traditional savings and borrowing mechanism. But, in kitty party, the members pool along with a specified amount monthly and one among them gets the entire amount. The process is repeated every month.

The difference between chit and kitty party is that the winning member is not chosen by the draw of lots instead through an auction.

So, the below image explains the beginner to know how much they gain through a chit fund scheme chosen at the experienced chit fund organisation.

After explaining what is chit fund and how to choose a good one, the next question in the people’s mind is whether to save or borrow.

As explained earlier, chit fund is both a saving and borrowing option. If you did not bid until the end of the scheme, it is like a recurring deposit. You will get back your money at the end. Though the sum is fixed, the returns may depend on the distributed surplus over the months.

For more details visit: Chit Fund Software Live Demo or contact us at toll free: 1800-200-1766 / 7397723052.