What is a Chit Fund?
The Smart Way to Save & Borrow.
A chit fund is a time-tested, secure financial tool combining the benefits of savings and borrowing. It is a systematic savings scheme where a group of subscribers contributes a fixed amount periodically. When in need of a lump sum, subscribers can bid for the prize money, offering a flexible and reliable way to meet personal or business financial goals. Richman India makes this traditional system transparent, digital, and secure.
Why Choose Richman India?
Regulatory Compliance
Fully compliant with the Chit Funds Act, 1982.
Local Expertise
Deep roots in Karnataka with branches in key cities.
Digital Transparency
Seamless online payments, real-time access to ledger statements, and transparent auction processes.
Customer-Centric Service
Dedicated branch support and a commitment to investor security.
Our Values
The 3 Pillars of Richman India
Trust & Integrity
We operate with complete regulatory compliance and transparent accounting practices, ensuring the safety of every rupee you invest.
Trust & Integrity
We operate with complete regulatory compliance and transparent accounting practices, ensuring the safety of every rupee you invest.
Customer-Centricity
We are a local company, understanding the unique financial needs of the people of Karnataka. Our team is committed to providing prompt, personalized service.
Customer-Centricity
We are a local company, understanding the unique financial needs of the people of Karnataka. Our team is committed to providing prompt, personalized service.
Innovation
We continuously invest in technology to offer a seamless digital experience, from online payments and enrollment to real-time statement access.
Innovation
We continuously invest in technology to offer a seamless digital experience, from online payments and enrollment to real-time statement access.
Featured Plans
Popular Plans Designed for Every Goal.
Whether you are saving for a down payment, a child’s education, or business expansion, we have a plan for you. See our most popular schemes:
Unlike traditional banking instruments (like RDs or loans), our chit plans are a hybrid financial solution:
As a Savings Tool: It enforces a disciplined, systematic monthly contribution, allowing you to build a substantial corpus for planned future expenses (e.g., child’s education, home down payment).
As a Borrowing Tool: You have the option to receive the lump sum early in the cycle (through the auction), essentially securing a large-sum, interest-rate-competitive loan without the exhaustive paperwork or collateral required by banks.
Total Freedom: Use the prize money for any purpose—be it a medical emergency, a business inventory purchase, wedding expenses, or an investment opportunity—with no questions asked.
Personalized Fit: Choose from various denominations and tenures (e.g., 25-month, 50-month plans) that perfectly match your monthly cash flow and your ultimate financial goal.
For pre-prized members, borrowing the lump sum does not require pledging assets or a lengthy credit score check, unlike most bank loans.