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About Us

About Us

Welcome to Thillai Shri MR Chits, where tradition meets trust. Established in 2000, we have been a cornerstone of the financial growth and stability of our community. Our journey began with a simple yet profound vision: to provide reliable and accessible financial solutions that empower individuals and businesses alike. Our journey began with a simple yet profound vision: to provide a reliable and accessible financial solution that empowers individuals and businesses alike.

Our Mission

At Thillai Shri MR Chits, our mission is to offer transparent, efficient, and customer-centric financial services. We are committed to fostering a culture of trust and mutual benefit, ensuring that every member feels valued and secure.






Our Vision

We envision a future where financial inclusion is not just a concept but a reality. Our goal is to bridge the gap between conventional banking and the needs of the underserved, providing a platform where everyone can achieve their financial aspirations.





What We Offer

Our Values

Our Team

Our team is a blend of experienced professionals and young enthusiasts who share a common passion for financial empowerment. With a deep understanding of the chit fund industry and a commitment to excellence, we work tirelessly to ensure our members' success.

Our Directors

Founder & Managing Director
MR. MOHAN KUMAR

Mr. Mohan Kumar was born on January 31, 1983, in Trichy and earned his MBA. He has built a career spanning multiple sectors. He started his career at SBI Cards from 2001 to 2007, then followed by a stint at Religare from 2007 to 2010. Since 2010, he has been with an investment management company. Alongside his corporate journey, Mohan has been actively involved in managing chit funds for the past 15 years. He has demonstrated strong leadership qualities and adept finance management skills

Co-Founder & Director
MRS. REVATHI

Mrs. Revathi, born on September 2, 1985, holds an M.Com degree and has excelled in Finance. She began her career at SBI Cards from 2003 to 2007, followed by 15 years in banking until 2022. In 2022, she became a director in a chit fund company (Partnership), then founded her own company in 2023. Revathi is known for integrity, transparency, and excellence, guiding our company to deliver top-tier financial solutions.

How Chit Funds Work

Chit funds are a useful financial tool for different people, such as small investors, business owners, and small-scale industrialists. They are also a good way to save money for emergencies.

Chit funds can help people save or borrow money for big expenses like weddings, building houses, starting or running a business, and education. It's important to choose the right chit group based on your ability to set aside extra money each month. This helps both you and the chit fund company avoid problems when it's time to give out the prize money or make monthly payments.

Key Points

A chit is a contract between the foreman (the organizer) and the subscribers (the members). It's a financial system where a group of people regularly save a specific amount of money each month for a set period. Each month, the pooled funds are auctioned, and the member who bids the highest discount wins the prize amount. The winner must provide proper security and keep paying the monthly installments until the chit period ends. The discount amount, minus the foreman’s commission, is shared among the members as a dividend.

A chit group is a set number of members who agree to contribute a specific amount of money each month for a set period. For example, 20 members each pay Rs. 500 per month for 20 months. The number of members and months are the same.

The foreman is the person in charge of managing the chit. This could be a branch manager or anyone else performing the foreman's duties.

No, the contract is only valid for the duration of the chit group until all debts between the members and the foreman are settled.

  • Save small amounts regularly to receive a lump sum during the chit period.
  • Borrow money against future savings in advance. Some people join chit funds to borrow money, while others join to save.

The chit agreement is a contract between the foreman and each member. It includes the rules for running the chit. Members sign the agreement, which includes details such as their name, address, the number of installments, the amount payable, penalties for late payment, the start date of the chit, how the prize winner is chosen, the maximum discount allowed, the dividend and foreman’s commission, auction details, the bank name, and security requirements for the prize winner. Members usually sign a declaration stating they have read and understood the agreement, which is then filed with the registrar.

Members must fill out an application form with their name, addresses, monthly salary, and nominee details. They must also sign a declaration that they have read and understood the terms and conditions of the chit agreement.

Benefits of Chit Funds

  • Borrowing on Short Notice: You can borrow money quickly by winning the bid.
  • Saving in Installments: Allows saving money in regular, manageable amounts.
  • Prioritizing Savings: Joining a chit fund helps prioritize savings over other avoidable expenses.
  • Convenience: No stringent formalities, making it easy to participate.
  • Popular Method: Chit funds are a widely-used method for both saving and borrowing.
  • Safety and Reliability: MR CHIT, a prestigious PSU, ensures 100% safety, reliability, and transparency in operations.
  • Investment Safety: MR CHIT guarantees the safety of subscribers’ investments.
  • Assured Funds in Crisis: Provides a guaranteed sum of money during emergencies.
  • Easy Cash Access: Chit funds offer quick access to hard cash.
  • Interest-Free Money: A way to obtain money at 0% interest.

Comparing Chit Funds with Banks & Others

Benefits Chit Funds Banks & Others
Flexible Savings and Borrowing Start with savings and convert into a borrowing instrument as needed. Choose between savings and borrowing options, like savings accounts, FDs, or loans.
Freedom to Use Funds Subscribers can use the funds as they wish. Loans are for specified purposes, like home loans, vehicle loans, or business loans.
Interest on Borrowing Borrow from your future savings based on mutuality. Banks and other NBFCs lend at higher rates after adding interest and service charges.
Return on Savings Risk-free compared to other financial intermediaries. The high cost of operations and prevailing interest rates affect returns.
Tax Dividends are taxable, and GST is applicable. Interest earned from savings accounts, FDs, etc., is subject to tax.

Core Values

Flexible Borrowing Options

Convenient Withdrawals

Equitable Distribution

Quick Access to Funds

Low-Interest Payments

Attractive Returns

Streamlined Documentation

Consistent Savings

Logo

Welcome to MR Chit Fund where tradition meets trust. Established in [Year], we have been a cornerstone in the financial growth and stability of our community. Our journey began with a simple yet profound vision: to provide a reliable and accessible financial solution that empowers individuals and businesses alike.

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Address

No: 7B, JC Towers, 3rd Floor, Karur Bypass Road

Trichy - 620 018

Mail Us

shrimrchits@gmail.com

Telephone

+91 915 023 3633

+91 915 073 3133

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