Shriram Chits Alternative:
The Money Club

If you’re looking for a Shriram 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 Shriram Chits. Find out why!

About Shriram Chits

Shriram Group, founded in 1974, started with just one branch. Today, Shriram Chits operates in Karnataka, Andhra Pradesh, Tamil Nadu, Maharashtra, and Puducherry (Pondicherry).

With 1,000 branches & service centres, 40,00,000 customers, 12,000 employees, 80,000 agents, and assets under management of ₹13,500 crores, Shriram Group is one of the largest financial services networks in India.

Shriram Chits is a pioneer in Micro Finance in India and is the largest chit funds entity in India, with an Annual Auction Turnover touching ₹3,000 crores (US$ 408 million). ...

With the help of state-of-the-art technology and a transparent system, Shriram Chits has been successful in transforming the 3,000-year-old financial concept of chit funds into a lucrative alternative to the banking system.

The chit groups are in the range of ₹2 Lakh to ₹25 Lakh, available for a duration of 50 months. Once you enrol in a chit group, you need to contribute a certain amount every month. Monthly auctions are conducted, and the subscriber who bids for the highest discount is announced as the winner. The prize money is released to the successful bidder on proper security. The successful bidder continues paying the subscription amount until the termination of the chit.

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.

Shriram Chits vs The Money Club Online Chit Fund Platform

Shriram chits is traditionally an offline chit fund company. Although you can fill up the enrollment form online through its website, the company’s representative will contact you for completing the rest of the subscription formalities. Shriram chits don’t provide a 100% online experience.

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 Shriram Chits

AI-powered Platform

Money Club is India’s best AI-driven online chit fund platform with 100% online process, ensuring safe, secure and smooth peer-to-peer lending experience.

Zero Paperwork

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

Features
The Money Club
Shriram Chits
AI-powered platform
Zero paperwork
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
Online payments

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.

Online Payments

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 Shriram Chits alternative ends here. Join Money Club today and start saving for your financial needs!

Happy & Satisfied Money Clubbers

Saved, Borrowed & Invested money in Money Clubs