A Study of Different Savings Schemes Offered by Private Chit Fund Companies in Tirunelveli District

Abstract

Saving is the perfect for people those who don’t want to take any risks with their money and most savings accounts have easy access or are for a fixed term. People often save for specific reasons and usually it one of the safest ways to build up a stack of money. It is less risky than investing in any marketability
shares or any others forms of investment, but it offers limited growth for the people. The most you will earn on the money saved you gets the additional interest on some of the investment rather than kept it them as a hard cash. There are lots of different ways to save, but whichever way you choose, the general idea is the same: to build up some money - savings - that can used for meeting the future needs.
One of the quickest ways to earn interest with the saved money within a short term is making the money investment in chit funds and it is possible to get the lump sum money as earlier as possible within a year with some additional benefits. This research paper especially focuses on different savings schemes offered by private chit fund companies located at Tirunelveli District.