CHIT FUND VS PIGMY DEPOSIT
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ď ą Daily collection loan is simplest money lending technique as the loan amount will repay on daily installment basis. Daily collection loan is simplest money lending technique as the loan amount will repay ď ą This is very useful to small business on daily installment basis. firms, as they can avail fund according to their need and the flexibility to repay the amount with out much harming their financial Operations
DAILY COLLECTION
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Daily collection loan is generally operated for a small duration, example for period of 100 days, and total interest payable for the loan period will collect at the time loan Daily collection loan is simplest money lending technique as the loan amount will repay payment itself as initial payment. on daily installment basis.
DAILY COLLECTION LOAN Page 3
Saving money is an important aspect of life. Investing money is a desire of many. Daily collection loan is simplest money lending technique as the loan amount will repay In India, manyonpeople arebasis. not yet involved daily installment in the organized financial sector.
Many people of the lower income bracket opt to invest in chit funds because they do not qualify or have documentation for a bank account.
CHIT FUND
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Chit funds are not necessarily a bad investment. It has a bad reputation because it has been misused in the past to scam naive Daily collection loan is simplest money lending technique as the loan amount will repay investors. on daily installment basis.
There are Government-run and registered chit funds that are safe to invest in. On the other hand, recurring deposits are a much safer investment.
CHIT FUND
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RD OR PIGMY
CHIT FUND
Only for investment
Serves as investment and loan
Daily collection loan is simplest money lending technique as the loan amount will repay on daily installment basis.
Safe
Risky
Fixed returns
Returns depend on bidding, lotteries Profit or loss
Guaranteed profit
CHIT FUND Vs PIGMY
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RD OR PIGMY
CHIT FUND
Higher rate of interest Relatively lower rate of interest No processing 5% of the chit fund must charges Daily collection loan is simplest money lending technique as the loan amount will repay be paid on daily installment basis.as commission fees to the organizer Governed by terms every month and conditions of the bank Governed by The Chit Funds Act 1982 No TDS
CHIT FUND Vs PIGMY
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It is safer to invest with a bank which ensures your money is safe and guarantees you a fixed return. In the case of chit funds, you must have knowledge about how it functions. Daily collection loan is simplest money lending technique as the loan amount will repay on daily installment basis.
Some chit funds turn out to be scams and you can lose your money. Choose your fund wisely by checking if it is run by the state government or if it is registered under The Chit Funds Act.
WHICH ONE IS SAFE?
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In some cases, some investors who have already won the bid, fail to invest further which leads to the chit fund failing. However, this has been regulated by compulsory collateral or another investor’s guarantee. Daily collection loan is simplest money lending technique as the loan amount will repay on daily installment basis.
Investing in a chit fund may result in a profit, but can also result in a loss. If you win a bid and end up investing more than what you got, then the chit fund becomes a loan.
WHICH ONE IS SAFE?
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Access restriction at company level and user level. Option to manage multiple companies Daily collection loan is simplest money lending technique as the loan amount will repay separately. on daily installment basis.
Support for data backup and restore. Manage all borrowers' details with photo.
SOFTWARE FEATURES
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Easy loan credit method. Define Grace period for repayments. Daily collection loan is simplest money lending technique as the loan amount will repay Bulk collection entry. on daily installment basis.
Manage defaulters Manage other expenses and list them in day book
SOFTWARE FEATURES
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Balance sheet with cash in hand management. Manage Chits opted from the company.
Daily collection loan is simplest money lending technique as the loan amount will repay on daily installment basis.
Customizable and user friendly reports. Flexible balance report.
SOFTWARE FEATURES
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Support for early and partial repayments. Export and import data to mobile app and work remotely.
Daily collection loan is simplest money lending technique as the loan amount will repay on daily installment basis.
Automatic or manual loan closure option. Ability to generate receipts.
SOFTWARE FEATURES
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