Chit fund software that keeps groups, auctions and dues in order
Group and subscriber records, auction results, agent collections and WhatsApp receipts, with clear reports. It keeps your records; compliance stays with you.
Chit fund software keeps the operational records of a chit company: groups, subscribers, auction results, instalments due and collected, and the receipts that follow. It records what happens; the company and its advisers remain responsible for compliance under the Chit Funds Act and the rules of the state.
Where the day goes wrong
- 01
Records spread across ledgers
Groups, tickets and members live in registers and spreadsheets that differ by branch, so a subscriber's full position takes time to find.
- 02
Auction arithmetic done by hand
Winning bids, discount shares and dividends are worked out on calculators on auction day, where one slip affects every member of the group.
- 03
Agent collections reconciled late
Cash and UPI collected by agents reach the books days later, and shortfalls are found long after the collection was made.
- 04
Handwritten receipts
A subscriber holds a paper slip that the office cannot instantly verify, and a lost slip becomes an argument.
- 05
Defaulters chased without history
Follow-up calls go out without knowing earlier promises, payment dates or what was said the last time.
What we build for you
- 01
Group and ticket master
Chit value, duration, instalments, members and tickets, with one subscriber holding several tickets across groups.
- 02
Auction register
Bids recorded on the day, with winning discount and dividend shares calculated by the formula in your group agreement.
- 03
Agent collection app
An offline-capable Android app that records each collection and sends the subscriber a receipt on WhatsApp.
- 04
Dues and arrears ageing
Instalments due, paid and overdue for each subscriber, with reminder lists and a call-history log.
- 05
Prize payment tracker
Which winners are awaiting documents, which security papers are held, and when each prize amount was paid.
- 06
Reports and statements
Group-wise statements, agent and branch summaries and collection against due, exportable for your auditor.
- 07
Roles and audit trail
Separate access for agents, branch staff and directors, and a log of who changed what and when.
The register is the product
A chit company sells one thing above all: confidence that the arithmetic will be right every month for years. Whether your customers call it a chit or a seettu, they trust the company because the books are clean. Who paid, who won, who is overdue and what each member receives should never be a matter of opinion.
Auction day, step by step
On auction day members bid, the winning bid is recorded, and the figures that follow depend on your group's agreement: what is kept as the company's commission, how the remainder is shared back to members as dividend, and what the winner receives. Done on a calculator in a crowded branch, a single slip can touch every member of the group.
We record each bid, apply the formula you configure from your agreement, and show the full working so your accountant can verify it before the result is final. The formula is yours. We do not decide how your groups run.
Collections, agents and receipts
Most of a chit company's days are spent on collections, not auctions. Agents visit subscribers, collect cash or UPI and bring the money to the branch. Our Android collection app records each collection at the door, works without signal, and sends the subscriber a receipt on WhatsApp when it syncs. The branch sees collections arrive through the day instead of in a weekly batch, and an agent's cash in hand becomes a number on a screen. WhatsApp runs through the WhatsApp Business API via a provider, so message charges apply and we set them out at quotation.
What the software does not do
This needs saying plainly. The software keeps operational records. It does not make your company compliant with anything. The Chit Funds Act and the rules of your state set obligations for chit companies, and your company remains responsible for meeting them. Questions about registration, filings or audit requirements go to your legal adviser, your auditor and the state authorities, not to software. We make no legal claims about the product, and nothing in it replaces professional advice. What we can do is produce clear reports that make your advisers' work easier.
Cost, and when ready-made is enough
A core chit management system with groups, tickets, auctions, dues and reports typically starts around ₹85,000. The collection app typically starts around ₹65,000 on its own, and a company with several branches wanting both should expect a complete management system to land between ₹1,50,000 and ₹5,00,000. Ready-made chit software exists, and for a company whose rules match its defaults it may be the cheaper route. A custom build makes sense when your groups, commission arrangement or agent network do not fit a packaged product. You own the source code once the final payment is made.
Rolling out one branch at a time
The safest start is one branch and a few running groups, kept alongside the old registers for a full auction cycle until the figures agree. Only then do the other branches move across. Subscriber records are personal and financial, so access is by role, every change is logged with the user's name and time, and the data sits on encrypted storage with backups.
Before quoting, VS Tech Builders will ask to see your group agreement, an auction register and one agent's collection book, and will sign a mutual NDA on request. For the wider picture of lending and savings businesses, see our finance industry page.
Frequently asked questions
Does the software make us compliant with the Chit Funds Act?
No, and no software can. It keeps your operational records, such as groups, subscribers, auction results and collections, and produces clear reports for your auditor and advisers. Compliance with the Chit Funds Act and your state's rules remains your company's responsibility, and legal questions should go to your own legal adviser. We make no legal claims about the software.
Can you set up our own auction and dividend formula?
Yes. You give us the rules from your group agreement, we configure them, and we show the full working for each auction so your accountant can check the result before it is confirmed. We do not decide how your groups should work. If you run groups under different agreements, each group keeps its own formula and old auctions never change.
Will subscribers get receipts on WhatsApp as soon as an agent collects?
Yes, once a WhatsApp Business account and a messaging provider are set up. The agent saves the collection in the app, even offline, and the receipt goes out when the phone reconnects. Message charges from the provider apply, and we explain them in the quotation. Subscribers who do not use WhatsApp can be given a printed receipt instead.
Is a custom system better than ready-made chit software?
Not always. Ready-made chit software exists and suits many companies whose rules match its defaults, usually at a lower cost. A custom system makes sense when your group structures, branch set-up or agent collection process do not fit a packaged product. We will tell you honestly in discovery if a ready-made product would serve you better.
Further reading
Software built for chit fund companies.
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