Posted on
April 4, 2009
at
10:43 am
Is investing in chit-funds profitable? Or do they mostly tend to be fraudulent?Would you invest in chit-funds? If so, what factors would you consider before investing in chit-funds?
Posted on
April 4, 2009
at
11:15 am
ok this is really tricky most probably you will get duped along with many other people who invest along side youso i would suggest either you invest in a fund which is loyal and has a mass following otherwise pls keep away
Posted on
April 4, 2009
at
11:16 am
well, i never heard of this chit funds.Can someone explain what is this chit funds?
Posted on
April 5, 2009
at
6:32 am
guys chit-fund is not cheat fund
Posted on
April 5, 2009
at
6:35 am
You can search in wikipedia the meaning of chit-fund. Actually it's omething that is practices in South-east asian nation only.
Posted on
April 5, 2009
at
6:36 am
In a chit scheme, a specific number of individuals come together to pool a specific amount of money at periodic intervals. Usually the number of individuals and the number of periods will be the same. At the end of each period, there will be an auction of the money. Members of the chit will participate in this auction for the pooled money during that interval. The money will be given to the highest bidder. The bid amount will be divided by number of members, and thus determining per head contribution during that period. Usually the discount will continue to decrease over periods. The person getting money in the last period will receive the full scheme amount.Source: wikipedia
Posted on
April 5, 2009
at
6:44 am
I used to invest in chitfunds before and had a bad experience where i lost some money. I prefer to invest in established banks and in mutual funds rather than in chit funds. It may be a question of once bitten twice shy..not that all chit fund companies are cheats..
Posted on
April 5, 2009
at
1:31 pm
i have learnt alot from this post, i aint going to invest in them they sound bad
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Posted on
April 7, 2009
at
12:40 pm
I would not invest in chit funds even if gives good returns to me. I am not sure why but I have an impression that chit fund companies are usually fraud. May be the impression is formed by hearing about them in news and from others.
