Chit Fund Pigmy India, Pigmy India, Pigmy Collection, Chit Fund Collection, Chit Fund Pigmy Collection India
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CHIT FUND VS PIGMY<br />
DEPOSIT<br />
www.websoftex.com<br />
Page 1
Daily collection loan is simplest money<br />
lending technique as the loan amount<br />
will repay on daily installment basis.<br />
Daily collection loan is simplest money lending technique as the loan amount will repay<br />
on daily installment basis.<br />
This is very useful to small business<br />
firms, as they can avail fund according to<br />
their need and the flexibility to repay the<br />
amount with out much harming their<br />
financial Operations<br />
DAILY COLLECTION<br />
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Daily collection loan is generally operated<br />
for a small duration, example for period of<br />
100 days, and total interest payable for the<br />
loan period will collect at the time loan<br />
Daily collection loan is simplest money lending technique as the loan amount will repay<br />
on daily installment basis.<br />
payment itself as initial payment.<br />
DAILY COLLECTION LOAN<br />
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Saving money is an important aspect of<br />
life.<br />
Investing money is a desire of many.<br />
In <strong>India</strong>, many people are not yet involved<br />
in the organized financial sector.<br />
Daily collection loan is simplest money lending technique as the loan amount will repay<br />
on daily installment basis.<br />
Many people of the lower income bracket<br />
opt to invest in chit funds because they do<br />
not qualify or have documentation for a<br />
bank account.<br />
CHIT FUND<br />
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<strong>Chit</strong> funds are not necessarily a bad<br />
investment.<br />
It has a bad reputation because it has been<br />
misused in the past to scam naive<br />
investors.<br />
Daily collection loan is simplest money lending technique as the loan amount will repay<br />
on daily installment basis.<br />
There are Government-run and registered<br />
chit funds that are safe to invest in.<br />
On the other hand, recurring deposits are a<br />
much safer investment.<br />
CHIT FUND<br />
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RD OR PIGMY<br />
Only for<br />
investment<br />
CHIT FUND<br />
Serves as<br />
investment and loan<br />
Daily collection loan is simplest money lending technique as the loan amount will repay<br />
on daily installment Risky basis.<br />
Safe<br />
Fixed returns<br />
Guaranteed profit<br />
Returns depend on<br />
bidding, lotteries<br />
Profit or loss<br />
CHIT FUND Vs PIGMY<br />
Page 6
RD OR PIGMY<br />
CHIT FUND<br />
Higher rate of<br />
interest<br />
Relatively lower rate of<br />
interest<br />
No processing<br />
Daily collection loan is simplest money lending technique as the loan amount will repay<br />
charges<br />
on daily installment<br />
must<br />
basis.<br />
be paid as<br />
Governed by terms<br />
and conditions of the<br />
bank<br />
No TDS<br />
5% of the chit fund<br />
commission fees to the<br />
organizer every month<br />
Governed by The <strong>Chit</strong><br />
<strong>Fund</strong>s Act 1982<br />
CHIT FUND Vs PIGMY<br />
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It is safer to invest with a bank which ensures<br />
your money is safe and guarantees you a fixed<br />
return.<br />
In the case of chit funds, you must have<br />
knowledge about how it functions.<br />
Daily collection loan is simplest money lending technique as the loan amount will repay<br />
on daily installment basis.<br />
Some chit funds turn out to be scams and you<br />
can lose your money.<br />
Choose your fund wisely by checking if it is run<br />
by the state government or if it is registered<br />
under The <strong>Chit</strong> <strong>Fund</strong>s Act.<br />
WHICH ONE IS SAFE?<br />
Page 8
In some cases, some investors who have<br />
already won the bid, fail to invest further which<br />
leads to the chit fund failing.<br />
However, this has been regulated by compulsory<br />
collateral or another investor’s guarantee.<br />
Daily collection loan is simplest money lending technique as the loan amount will repay<br />
on daily installment basis.<br />
Investing in a chit fund may result in a profit, but<br />
can also result in a loss.<br />
If you win a bid and end up investing more than<br />
what you got, then the chit fund becomes a loan.<br />
WHICH ONE IS SAFE?<br />
Page 9
Access restriction at company level and<br />
user level.<br />
Option to manage multiple companies<br />
separately.<br />
Daily collection loan is simplest money lending technique as the loan amount will repay<br />
on daily installment basis.<br />
Support for data backup and restore.<br />
Manage all borrowers' details with photo.<br />
SOFTWARE FEATURES<br />
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Easy loan credit method.<br />
Define Grace period for repayments.<br />
Bulk collection entry.<br />
Daily collection loan is simplest money lending technique as the loan amount will repay<br />
on daily installment basis.<br />
Manage defaulters<br />
Manage other expenses and list them in<br />
day book<br />
SOFTWARE FEATURES<br />
Page 11
Balance sheet with cash in hand<br />
management.<br />
Manage <strong>Chit</strong>s opted from the company.<br />
Daily collection loan is simplest money lending technique as the loan amount will repay<br />
on daily installment basis.<br />
Customizable and user friendly reports.<br />
Flexible balance report.<br />
SOFTWARE FEATURES<br />
Page 12
Support for early and partial repayments.<br />
Export and import data to mobile app and<br />
work remotely.<br />
Daily collection loan is simplest money lending technique as the loan amount will repay<br />
on daily installment basis.<br />
Automatic or manual loan closure option.<br />
Ability to generate receipts.<br />
SOFTWARE FEATURES<br />
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