Buying a new car – whether it is a brand new model or a secondhand vehicle – is exciting. Arranging the finance deal you need to cover the cost, however, is not. And going for a bank loan is time-consuming, expensive and doesn’t even have tax benefits! We at Pf chits propose an ideal scenario where a customer cleverly uses funding from chits instead of seeking other modes of funding.
A customer enrolls in a 10 lakh chit for 40 months and successfully bids during the third month. He gets 7.5 lakhs which can be used to buy the car.
With the cost of educational degrees going higher and the spread of self-financing institutions which have less or no funding from the government for higher education in fields of engineering, medical and management education having higher fees than their government aided counterparts, student loans in India are growing more sought after. We at Pf chits propose an ideal scenario where a customer cleverly uses funding from chits instead of seeking other modes of funding.
A student has secured admission in a reputed institution and needs funding for 4 years of yearly fees. He subscribes to four 1 lakh chits at the time of admission. He discusses his plans well ahead with Pf Chits and obtains funding every year at the time of fee payment.
Everyone needs a work – life balance. Vacation time-off is one key to maintaining this balance. With international tourism becoming more and more attractive, cost for taking a break has sky-rocketed recently. And unfortunately personal loans are expensive and exchange rates are soaring high! We at Pf chits propose an ideal scenario where a customer cleverly uses funding from chits to systematically plan and save for an international vacation.
A family has planned a fortnight long vacation to Europe and estimates to spend approximately 10 lakhs on the trip. He plans ahead and subscribes to a 10 lakh chit and gets Rs 9.5 lakhs at the end of the chit tenure.
Funding is always required to expand your business, meet short-term business responsibilities and cover business expenses. It is always crucial to make sure that the organization has sufficient funds for carrying out its everyday operations in a smooth manner. Any business shouldn’t have a long cycle for cash conversion. That’s why, we at Pf chits propose an ideal scenario where a customer cleverly uses funding from chits to meet his working capital requirements efficiently.
A businessman needs to pay a festival bonus of 2 lacs every year to his employees. He subscribes to two 2 lakhs chits for a 25 month tenure. He plans ahead and obtains funding during the festival time for timely bonus payment
Wedding is a costly and prestigious affair in India that can drain finances faster than any other expense. Very often, there is not much time to plan for the wedding so the sooner you can start funneling money into a wedding fund, the better. We at Pf chits propose an ideal scenario where a customer cleverly uses funding from chits to systematically plan and save for a wedding.
Subscriber is looking for alliances for his daughter and subscribes to different chit groups like 2 lacs, 5 lacs and 10 lacs to meet the wedding expenditure. Once the marriage is fixed, he bids for the 2 lacs chit to meet the engagement expenses, bids for the 5 lacs to meet the jewelry expenditure and finally bids the 10 lacs to meet the wedding expenditure
Sometimes, we find an urge to save for unforeseen expenditure or to just inculcate financial discipline. At the same time, we would like to earn a reasonable amount of interest. We at Pf chits propose an ideal scenario where a customer cleverly uses chit funds to save for the future and cultivate financial discipline.
Subscriber earns Rs 75000 a month and doesn't have any financial commitments but wants to save for the future. He subscribes to 6 lakhs chit scheme for the tenure of 30 months
PF Chit Funds is the chit fund arm of Vedavathi Finance group of companies serving more than 50+ years in Chennai and across the country.