| Traditional Chit companies |
IBG eChits |
| TRUST is the BIG Issue |
Our core principal is TRUST and TRANSPERANCY. |
| Joining formalities are opaque / Not clear |
Everything related to your Chit process is clearly explained before joining. We do Welcome call to customer from a recorded line and explain all the details abt the chit before starting the group. |
You need to depend on the foreman / Agent for everything that matters in Chit and visit branches multiple
times. |
Auctions, Payments,Service, Trust and everything that matters is at your fingertips. No need to visit our office there by saving on your valuable time. |
| Auctions are conducted mostly in branches ONLY |
You have the facility to bid ONLINEalso along with going to branches. So now you can participate from your home/office or while travelling.Just open our app and start bidding |
| Auctions are conducted in most opaque manner |
Auction is live and history can be accessed during entire chit period. NomoreRigging of Auctions. |
| Lengthy and cumbersome Surety process. Only Govt employee sureties are accepted |
Simple process. We do not insist on Govt employee surety. After 5th Month sureties are not required if your monthly income sufficiently satisfies chit payment. |
Only one auction per month. Customer has to wait for a month for next chance. Moreover no Auction in second month. For ex. In first 3 months here
customer will have only 2 auctions |
Multiple auctions every month. Most of the time customer can get money in the same month of his/her need. For ex: In first 3 months here customer will have 5 auctions |
| Lot of random and adhoc charges |
Very simple and small charge structure. Digital benefits are passed on to customer. For ex in a 5L-25 month chit, Rs 2500 benefit is passed on to customer by third month itself. |
| Chit information is not readily available |
Complete chit info (payments done, dividends, Bids) is available on your finger tips |
| You are not sure if the Chit is registered with the registrar or not |
All the registration documents for each Chit are kept online. They can be easily accessed and verified through our app |
| Demands more time from you on activities |
Everything can be done at your fingertips at your convenient time in a 24X7 scenario. |
| Service is not satisfactory to many subscribers |
We have dedicated Customer service team - a first in industry |
| No means of planning your future bids |
You can plan your bids based on reinvestment options using our Bid calculator provided in our app. |
| No means for financial planning |
Tools for financial planning and interest calculators available |
