NAGASHIVA CHIT FUND PVT.LTD.

10 Lakh Chit Group Scheme (20 Month)

If the highest bid amount is quoted by more than one member, one member is selected through a lucky draw method.

Number of Months Chit Amount Company Commission Monthly Installment Dividend Minimum Bidding Maxmum Bidding Prized Amount Insurance Net Prized Amount
1 1000000 3000 53000 0 1000000 0 1000000
2 1000000 3000 38000 15000 300000(30%) 350000(35%) 650000 10000 640000
3 1000000 3000 38500 14500 290000(29%) 340000(34%) 660000 9500 650500
4 1000000 3000 39000 14000 280000(28%) 330000(33%) 670000 9000 661000
5 1000000 3000 39500 13500 270000(27%) 320000(32%) 680000 8500 671500
6 1000000 3000 40000 13000 260000(26%) 310000(31%) 690000 8000 682000
7 1000000 3000 40500 12500 250000(25%) 300000(30%) 700000 7500 692500
8 1000000 3000 41000 12000 240000(24%) 290000(29%) 710000 7000 703000
9 1000000 3000 41500 11500 230000(23%) 280000(28%) 720000 6500 713500
10 1000000 3000 42000 11000 220000(22%) 270000(27%) 730000 6000 724000
11 1000000 3000 43000 10000 200000(20%) 250000(25%) 750000 5500 744500
12 1000000 3000 44500 8500 170000(17%) 220000(22%) 780000 5000 775000
13 1000000 3000 46000 7000 140000(14%) 190000(19%) 810000 4500 805500
14 1000000 3000 47500 5500 110000(11%) 160000(16%) 840000 4000 836000
15 1000000 3000 49000 4000 80000(8%) 130000(13%) 870000 3500 866500
16 1000000 3000 50500 2500 50000(5%) 100000(10%) 900000 3000 897000
17 1000000 3000 51000 2000 40000(4%) 90000(9%) 910000 2500 907500
18 1000000 3000 51500 1500 30000(3%) 80000(8%) 920000 2000 918000
19 1000000 3000 52000 1000 20000(2%) 70000(7%) 930000 1500 928500
20 1000000 3000 53000 0 0(0%) 0(0%) 1000000 0 1000000
901000 159000

Chit Group Running Method

1. The entire first installment paid by 20 members must be deposited in the bank under the government's name for the group's registration, as per the 1982 Chit Fund Act. Additionally, an amount of ₹10 lakh must be maintained in the bank until the end of the group's tenure.

2. The amount for the second monthly installment must be paid by deducting ₹15,000 the minimum profit amount set by the company, and paying the remaining amount of ₹38,000.

3. From the third month to the 20th month, the monthly installment must be paid after deducting the additional profit earned from the previous month's auction, as per the monthly installment amount determined by the company.

4. The monthly installment should be paid before the auction date. Members who pay early will receive a bonus of ₹100 to ₹150.

5. Group auctions can be viewed and bid online for 30 days.

6. Details of the person selected through the token system can be seen live on Nagashiva Company YouTube channel.

7. Chit-winning members can receive their chit amount the day after completing the security process.

8. All group members can see online 24 hours which member has received the amount collected from 20 members each month by Nagashiva Company.

9. Members of the group can get insurance for the remaining monthly installments while taking the chit amount and if they take out the insurance before taking the chit amount, they will get a 30 percent discount.

Government registration documents issued to Chit group members

1. Members joining a chit group are provided with a contract document for the chit value, registered by Nagashiva Company as per the rules of the 1982 Chit Fund Act.

2. Before the commencement of the group's auction, Nagashiva Company provided the list of 20 members registered by the government to the group members both online and offline.

3. As per the 1982 Chit Fund Act, for group registration, Nagashiva Company provides the group members with a bound copy of the fixed deposit pledged as collateral in the name of the government.

4. According to Section 17(2)(d) & (e) of the 1982 Chit Fund Act, a minute report specifying which member received the chit amount each month from Nagashiva Company is submitted to the District Registrar's Office of the government .

Call For More Information : 8600088880 /8600000108/ 8698888108 / ___________________________
Office Time : 9:00am To 6:00pm website:www.nagashiva.com

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