CRK group is a platform that allows you to pay your monthly installment and at the time of auction, the winner gets to borrow against the subsequent savings, as chit funds are the versatile financial products that lets you invest and borrow at the same time. CRK group with its years of eminent financial literacy allows you to borrow lump sum amount without providing any formal collateral at much lower rate of interest as opposed to banks or other financial institutions. As a result CRK group directs you to a path from the tax point of view as well, the dividends earned per month are neither taxable nor tax deductible contrary to the overall income that is subject to income tax.
We have a long-standing relationship with CRK Group. The management and employees of CRK Group are very sincere which is what I like the most. Since their inception they have been providing services right at home and this is especially very good for old age people and people who have retired. I have introduced many friends and relatives to CRK Group and I would highly recommend new customers to trust and join CRK Group happily.”
It's a personal loan, a recurring deposit and a kitty party rolled into one. A chit fund means many things to many people. For someone seeking a loan, it is a source of costly, but convenient, credit. For the small saver, it is an option that enforces monthly investment discipline
A chit fund is a financial instrument that is a combination of savings and borrowings. It has been a part of India’s financial system for more than a century. At its most fundamental level, in a chit fund, a group of people or subscribers agree to contribute a fixed amount every month for a fixed period of time to a corpus.
Saving money is an important aspect of life. Investing money is a desire of many. In India, many people are not yet involved in the organised financial sector. Many people of the lower income bracket opt to invest in chit funds because they do not qualify or have documentation for a bank account.