Established in 1988, Neeladri Chit Fund Pvt Ltd is a chits platform founded by a team of Entrepreneurs and Chartered Accountants namely Mr. B Jangi Reddy, Mr. G Amarnath Reddy, Mr. K Pradeep Reddy and late shri Mr. AGS Reddy with Mr. B Jangi Reddy heading the team. Back then Chit fund was a very little known concept, but with the passage of time and experience, chit funds became popular as people discovered in it an ideal way to save profitably and raise money at short notice to meet the contingencies. Many companies followed suit and chit fund companies sprung up like mushrooms. In this rapidly changing market scenario, Neeladri’s unchanging values like professional integrity, high quality service, Innovation, passion and absolute financial discipline helped in retaining a strong name in the industry.
Being passionate about helping our customers achieve their financial goals.
Doing business with trust and transparency for long-standing fiduciary relationships.
Being ethical, honest and fair with customers, partners, investors and employees.
Staying ahead of the curve by leveraging new lending approaches, research, rigour and technology.
Striving to serve the largest number of common people through quality non-banking financial services
Why Neeladri Chits?
The formula for Neeladri’s success is meticulous planning, coupled with hard work and deep commitment to serve its customers in the best possible manner. New schemes are introduced form time to time to meet the financial needs of the customers and fulfill their aspirations. With dedicated and focused employees at all branches, efficient and prompt services are available to customers at all times. Subscribers can be rest assured that the company will serve its customers with the same zeal throughout the association, right up to the termination of the chit.
If for any reason, a subscriber fails to draw the prize amount before the next succeeding auction, the prize amount payable is deposited in a separate bank account. This money is earmarked for payment to the concerned subscriber only. Thus Neeladri ensures total security for subscribers’ money.
It is this understanding of the need and requirements of customers that enabled the company to reach out to so many subscribers and continues to do so. Neeladri’s impeccable track record and its strict professional discipline have earned it tremendous good will and respect across the social chain: Professionals, industrialists, corporate executives, government employees, teachers and more. They all know and have experienced the company’s commitment to give the best and its ability to meet every kind of need.
How Neeladri Chits work??
Keeping the needs of customers in mind, we have designed flexible options catering to all. Subscribers can choose from a wide range of chits from Rs. 5,00,000 to Rs. 1,00,00,000 designed to suit a variety of requirements. To become a subscriber, individuals need to fill out an enrolment form, and opt for any of the chit schemes available with monthly instalments ranging from Rs. 12,500 to Rs. 2,50,000. Depending upon the requirement, one may choose the tenure from any of the options listed below:
- Long Term Chits (40 months duration)
- Medium Term Chits (30 months duration)
- Short Term Chits (25 months duration)
Subscribers are entitled to bid at the auction even if only one instalment has been paid i.e., the first instalment. However, depending upon the requirement and competition, one can get the bid in any of the instalments. After being declared as successful bidder in the auction, the successful bidder has to submit sureties depending upon future liability either from salaried employees with required basic salary or business people having taxable income or even property mortgage where required. Thereafter, the prize money is released after completing a few formalities. The chit money has to be paid back in remaining easy instalments. The successful bidder earns his or her profit by repaying the monthly instalments excluding the dividends.
Neeladri Chit Fund Private Limited is a registered chit fund with the Registrar of Chits.