Save every month, get a lump sum when you need it
Join a registered chit group at AROKK. Pay a fixed amount each month, bid for the full pot when life needs it, and earn a dividend every month you wait.
- Chit Funds Act, 1982
- Monthly dividends
- No collateral to join
- Open branch auctions
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A savings habit and a credit line, in one simple plan.
What is a chit?
India's oldest way to save and borrow together
A chit, also called chitty or kuri, is a group of people who each pay a fixed amount every month into a common pot. Every month, one member takes the whole pot through an auction, and the discount they give up is shared among everyone as a dividend.
Take the pot early and it works like a loan. Wait, and you get back more than you paid in, like savings. Every member gets the pot once.
Who is it for?
- Families
- Small traders
- Farmers
- Salaried people
- Parents planning fees
- Wedding savers
How a chit works
One pot, four steps, every month
- 1
Everyone pays the subscription
Each member pays the same monthly amount into the pot.
- 2
Members who need money bid
At the monthly auction, the member offering the highest discount wins.
- 3
The winner takes the prize money
The chit value minus the discount, paid once surety is verified.
- 4
The discount comes back as a dividend
After the foreman's commission, the rest is shared equally and lowers everyone's instalment.
Chit calculator
See one month's auction, in rupees
Pick a chit and a winning discount to see what the winner receives and what everyone pays.
Sample Foreman commission shown at 5% (the legal cap is 7%). Real discounts depend on each month's auction.
Every rupee you save today builds tomorrow
A chit turns steady monthly savings into a lump sum you can take when life needs it, with dividends that lower what you pay.
Find your schemeFind your scheme
Choose your monthly budget.
Sample schemesNo scheme in this range yet.
From joining to getting your money
Scroll down: each step lights up.
Choose a scheme
Pick a chit value and duration that match what you can save each month.
Complete KYC and join
Sign the chit agreement with your ID and address proof.
Pay every month
Pay your subscription at the branch or through the modes AROKK offers.
Monthly auction
Members who need money bid. The highest discount offered wins that month's chit.
Dividend shared
The discount minus commission is split equally, so everyone pays less next month.
Receive your prize money
Once your surety documents are verified, the prize amount is paid to you.
Take it early or wait?
Depending on when you take the chit, it works like a loan or like savings.
Sample auction pattern: discount starts at 30% and falls to 5% by the last month. Commission 5%.
Why join a chit
Why delta families trust chits
Quick access to money
You can bid for the pot from the very first auction.
No collateral to join
Joining needs only KYC. Surety is asked for only when you take the prize.
Lower cost of borrowing
Members set the discount at the auction, and much of it returns to you as dividends.
Use it for anything
Weddings, school fees, a new shop, farm inputs or a medical need.
Cash for emergencies
Bid when the unexpected happens, instead of borrowing at high interest.
Saving with a return
Fixed monthly payments build the habit, and dividends reward you for waiting.
Documents
What you need to join and to collect
To join a chit
- Aadhaar or Voter ID
- Address proof
- PAN cardFor higher chit values
- Two passport-size photos
- Nominee details
To take the prize money
Surety for your remaining instalments, in any one of these forms: confirm with client
- A guarantor with salary proof
- Property documents
- Gold jewellery
- A fixed deposit or LIC policy
Your money is protected
Safeguards written into the law
Every AROKK chit runs under the Chit Funds Act, 1982 and the Tamil Nadu Chit Funds Rules.
Registered group
Each group is registered with the Registrar of Chits before it starts.
Security deposit
The company lodges security with the Registrar for every group it runs.
Commission capped by law
The foreman's commission can never exceed 7% of the chit value.
Open auctions
Held at the branch with members present, and recorded in the minutes.
A receipt for every rupee
Every subscription you pay is acknowledged with a receipt.
A clear chit agreement
Your rights, dates and rules are set out in writing before you join.
Chit terms, made simple
Chit value
The total amount of the group, for example ₹1,00,000.
Subscription
The amount each member pays every month.
Auction and bid
The discount a member is willing to give up to take the chit that month.
Foreman commission
The company's fee for running the chit, capped by law at 7% of the chit value.
Dividend
The discount minus commission, shared equally by all members.
Prize amount
What the winner receives: chit value minus the discount.
Surety
A guarantee for your remaining instalments, such as a guarantor or documents.
Security deposit
What the company deposits with the Registrar for every group.
FAQs
Chit fund questions, answered
Any adult with valid KYC who can pay the monthly subscription: salaried people, traders, farmers and homemakers alike.
Registered chit companies work under the Chit Funds Act, 1982, and deposit security with the Registrar for every group they run.
Yes. All members pay until the chit ends. That is why surety is taken when you receive the prize amount.
You receive the chit in the final month, minus only the commission. With the dividends you earned along the way, it works like a savings plan.
Auctions are held at the branch on a fixed date each month. Members bid openly, the highest discount wins, and the result is recorded in the minutes.
After you take the prize you still owe the remaining instalments. Surety protects the other members of your group, so everyone is paid in full.
Yes, you can hold tickets in more than one group, as long as you can manage the monthly payments.
Contact your branch straight away. A late fee may apply as set out in your chit agreement, and missed instalments must be cleared before you can bid.
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