WHAT IS CHIT FUND?
What is Chit Fund? A rotating savings and credit association system known as a “Chit Fund” is used in India,...
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Days Chit Disbursal
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Years of Combined Experience
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Strong Satisfied Clientele
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Years of Credible Track Record
About Us
Northeast Chit Fund Services Private Limited is a Hyderabad based Chit Fund company registered with the Registrar of Chits (Kavadiguda). The organization is part of the trusted Northeast group that has been in the textile and real estate industry for the past 40 years. The organization has seen exponential growth since the date of incorporation, driven by its trusted client base.
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Vision
Northeast's vision is to create a financially disciplined and self-reliant India
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Mission
Our mission is to build an ethical ecosystem for investments to grow.
We endeavor to create value for the investors based on their horizons and appetite.
We shall also integrate with investee clients to accelerate the progressive trajectory to eminent orbits.
We shall grow together in a compliant environment by empowering our investors and target units.
Who We Are
- 40 years of honest track record
- Strong foundation by Rajender Agarwal and Naresh Agarwal
- Well diversified group
- Accelerated uptick by next generation of Ritesh Agarwal and Nitin Agarwal
- Vibrant and dynamic team with over 100 years of combined experience
- Controlled under Chit Fund Act 1982. Strict adherence to all guidelines
- 100% of chit value amount deposited with a Scheduled Bank
- Regulated by Registrar of Chits Telangana
- Member of Federation of Indian Chambers of Commerce & Industry
- Member of Telangana Federation of Chit Funds
We Stand For
C- Character
The organisation is set on a foundation of ethical and Best in Class policies and processes designed by a prudent, experienced and customer-centric workforce.
H- Honesty
The organization believes in transparency. No hidden charges policy and consistent communication with our customers are the building blocks of our organizational growth.
I- Integrity
The organization has promised and delivered on keeping our customers delighted with the quickest disbursal in the market. “We assure disbursal in under 10 days”.
T- Trust
The group has built itself on the 40 years of trust gained from the customers and stakeholders. The organization works with 100% bank FD against each chit-group started
Safety of subscribers with northeast
- 100% amount of value to be deposited with the Registrar of chits (Like banks do with RBI).
- Government Governance on Block chain Technology (world’s Safest Technology).
- 100% compliance to Central Chit Fund Act-1982
- Income Tax benefits on Dividends.
- GST Benefits – Gets Input Credit.
- Chit Agreement enforceable by Law.
- Private Limited company governed by Registrar of Companies – Ministry of Finance.
- Northeast has excellent record in payment of Bid Payable in shortest possible time.
- Complete door step and online services.
- Northeast chit fund services Pvt Ltd company is registered with Registrar of Chits.
- Subscriber’s onboarding process is rationale and robust - because of this no NPA’s.
- Strong financial base with Owned Funds of Rs 5 Cr as at Mar 2022.
Blogs
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CONTINGENCY FUND
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Benefits of Chit Funds
Funds flow is the life line of any business. Individuals, small business men, MSMEs, and Corporates need finance for various business needs, both short term and long term. These needs may be planned requirements for new units, repairs, modernization, expansion or any sudden / unforeseen / seasonal requirements.
There is no doubt that living a financially secure life requires careful money management and income savings / Cash Flows. Future goals can be achieved and debt can be avoided with investments made with salary money. For long-term financial success, having good financial habits is always crucial.
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Setting financial objectives is a crucial first step that should be taken before trying to become financially disciplined. It helps in
avoiding unproductive expenditure and stage wise planning with clarity for reaching short, mid, and long-term financial goals.
There shall be sudden and unforeseen requirements in any human life or Organisational journey. One should build his/ its own corpus/savings to meet such challenges avoiding any debt trap at a huge cost.
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Individuals may have short-term needs such as Family vacations, medical buffers, home improvement etc. Short-term goals of a business unit are Working capital requirements, seasonal requirements, bulk procurement, repairs and renewals etc.
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An individual may have long-term goals of having a house, education of children, marriage, vehicles, retirement corpus etc. For a business unit, the Long term goals are Setting up a new unit, Purchase of Vehicles, Purchase of machinery, R & D, Construction, Land purchase and so on. Based on such goals, one should plan his investments. Chit funds are the most flexible and efficient financial instruments for meeting all such goals.
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Our Happy Clients Galaxy
