Chitfund is an app which simplifies the Chits business.
This application is mainly focused for our locale. In this business customers will contribute a fixed amount of money every month which depends on the total amount and the number of contributors.
The contributed amount is now auctioned and the person who wins the auction gets the total amount. The remaining amount is distributed equally among every contributor. This process happens every month manually and one co-ordinator needs to maintain books for every chit.
The person co-ordinating the process will get a small share every month (which is treated as commission) from the total amount. The app actually simplifies the work of the co-ordinator and the auction process.
Features:
1. Online bidding for chits,
2. One stop shop for all your chit needs.
3. All your Data is stored securely and can only be accessed by you.
4. Supports online and offline modes.
5. Automatic calculations and reports.
6. Track all your pending and monthly collections.
7. Manage all your chits and payments from anywhere and any device.
8. You can fix your bidding step amount and commission rates.
9. In-depth reporting for all your chits.