Gokulam Chits Alternative:
The Money Club
If you’re looking for a Gokulam Chits alternative for borrowing, saving or investing money, The Money Club is your best bet. It is an AI-powered chit fund platform which is 100% online and is a powerful solution optimized to provide higher returns while making your financial transactions safe, secure and convenient.
Money Club is unique and a worthy (or better) alternative to Gokulam Chits. Find out why!
About Gokulam Chits
Sree Gokulam Chit & Finance Co. Pvt. Ltd. (SGCF) is the flagship company of the Gokulam Group of Companies. This Chit and Finance business started at Mylapore, Chennai on 23rd July 1968. It is now in its 4th decade and has branches in Tamil Nadu, Kerala, New Delhi, Andhra Pradesh, Maharashtra, Karnataka, Telangana, Puducherry (Pondicherry), and Haryana.
A large number of Gokulam chits plans subscribers are professionals, corporate/business houses, retail traders, small businessmen and people who are underbanked or underserved. The best part of subscribing with SGCF is convenience – the collection for the chit monthly subscription (daily/weekly/monthly) can be made at your doorsteps. ...
In Gokulam chits schemes, the foreman gets a commission of 5% of the gross chitty amount. All the subscribers need to contribute until the end of the chitty. When the auction is announced, all subscribers get a chance to bid for the chit amount. The person bidding the lowest sum (a ceiling of 25% is enforced on chit discount), willing to take the minimum amount home, gets the bid amount. The difference between the gross amount and the auction amount is equally distributed among other subscribers.
About Money Club
The Money Club is a safe and secure mobile platform for Peer-to-Peer Chit fund or Committee. It offers an opportunity to join a group of like-minded people from all over India to start saving or investing money. In times of need, people can also borrow money that is multiples of what they have invested. All the members are verified by the Money Club before they start pooling up money on the platform.
Gokulam Chits vs The Money Club Online Chit Fund Platform
Gokulam Chits is a traditional chit fund company – an end-to-end offline mode. You have to visit the Gokulam Chits branch for all types of transactions – from subscribing to the chit group to making the payments. However, Gokulam Chits gives you the convenience of sending their representative to collect the payments.
The Money Club essentially offers an end-to-end 100% online process. This means – right from registration, verification, contributions to payments – everything takes place online with no paperwork and no physical presence.
How Money Club is Different from Gokulam Chits
Registration, verification, bidding, transactions and almost everything else on the platform can be done online without the hassle of massive paperwork, thus saving your time and effort.
Variable Commission Structure
Unlike the traditional chit funds, the Money Club has a variable commission structure which starts with 4% of the chit amount and goes down to as low as 0.5% based on the performance of the subscriber.
Here’s a look at some of the other differences
The Money Club
|Performance linked commission structure|
|Gamified customer journey|
|High frequency chits (daily, 3days)|
|Large amount chits|
|Long frequency chits (fortnightly, monthly)|
|People can join from PAN India|
|No physical presence required during an auction|
The Money Club is not just any online chit fund platform - we are optimised for higher returns and a better customer experience!
Gamified Customer Journey
As you build a good transaction history, you can proceed to higher amounts of Money Clubs through a gamified customer journey.
Large Amount Chits
Users can join multiple clubs resulting in a cumulative club amount of more than 1 lakh based on their profile on the platform.
Long Frequency Chits
Along with the high frequency clubs, the Money Club also runs the long frequency clubs like the fortnightly and the monthly clubs wherein the auctions happen in every 15 days or in every 30 days.
Users can make transactions from any of their online payment apps like google pay, phonepe, etc. and submit the transaction id in the Money Club app.
High Frequency Chits
Unlike the traditional chit funds, the Money Club runs the daily and the 3-days frequency clubs as well which help the subscribers to earn returns in a short tenure or borrow whenever they feel the need.
Open to PAN India
Like-minded people from anywhere in India can join a Money Club and begin their journey with us.
No Physical Presence Required
The entire process, right from registration to auction, is 100% online. This means you can conveniently be in the comfort of your home during the auction.
Your search for the best Gokulam Chits alternative ends here. Join Money Club today and start saving for your financial needs!
Happy & Satisfied Money Clubbers
I like the option to invest a part of my funds where there is a possibility of making good returns
It think MoneyClub will give me the option to save up for that dress that I have been wanting to buy for ages
Money Club gives me a great opportunity to help my friends when they need it the most
There have been times when I want to buy something for my house but I end up consuming my salary. Money Club gives me the option to meet my contingent needs