Margadarsi Chit Fund Alternative:
The Money Club
If you’re looking for a Margadarsi Chit Fund alternative for borrowing, saving or investing money, The Money Club is your best bet. It is an AI-powered chit fund platform that 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 Margadarsi Chit Fund. Find out why!
About Margadarsi Chit Fund
In 1962, Sri Ramoji Rao started Margadarsi Chit fund Private Limited in a small office with just two people working. Since its inception, guided by the determination and vision of its founder, Margadarsi Chit fund has grown exponentially and has become a household name in Andhra Pradesh, Tamil Nadu, Telangana & Karnataka.
Margadarsi Chit Fund has a subscriber base of 3,88,000 members who have reposed their trust in this gigantic company. Today, Margadarsi enjoys a turnover of over ₹11,206 crores and has 4,300 employees, 16,301 agents, and 110 branches. ...
Margadarsi Chit Fund has a wide range of chit values starting from ₹25,000 to ₹50,00,000, designed to suit people of all walks of life, including individuals, professionals, employees, agriculturists, proprietors, landlords, companies, partnership firms, corporate offices, etc. Margadarsi Chit Fund also has a wide range of chit duration (short-term and long-term) to meet the unique requirements of people. They are 25 months, 30 months, 40 months, and 50 months. These groups are formed with 25, 30, 40, and 50 members, respectively.
To become a subscriber, you need to fill an enrollment form. Depending on your requirement, you can choose from the schemes (short-term or long-term) available. You can bid at the auction even if you have only paid one instalment. If you are declared a successful bidder, the prize money is released to you only after submitting sureties and completing a few formalities. You need to repay the borrowed chit money in easy instalments. You earn a profit by repaying the monthly instalments while earning the dividends every month.
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.
Margadarsi Chit Fund vs The Money Club Online Chit Fund Platform
Margadarsi Chit Fund is an offline-based chitty. Although you can make money transactions online through their website, it doesn’t give you the benefit of a 100% online AI-powered unified platform. The end-to-end process involves a lot of paperwork, which consumes your valuable time.
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 Margadarsi Chit Fund
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
Margadarsi Chit Fund
|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 Margadarsi Chit Fund alternative ends here. Join Money Club today & 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