Hind Sight Benefits
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Start as savings and convert into a borrowing instrument, if and when required.
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Choose between savings and borrowing options – Whether Savings, FD or Loans
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Freedom to use funds
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Subscriber has the freedom to use the funds as per thier will.
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Loan is for specified purpose – be it home-loan, vehicle, business etc.
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Rate of Interest on borrowing
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Since the chit funds work under the principle of mutuality, you borrow from your future savings.
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The Banks & other NBFC borrow money at interest, add service charges and lend at higher rates.
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Rate of Return on Savings
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Risk free when compared to any other financial intermediary
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As cost of operations is very high and also the prevailing interest rate is a factor
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Tax
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Dividend earned is Taxable, GST Applicable.
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Applicable. The interest earned from Savings a/c, FDs, etc is subject to Tax.
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