myPaisaa - Digital Chit Funds

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About this app

Finsave Technologies Private Limited owns and operates myPaisaa application which is a SaaS based technology platform for operating Chit Funds.
Please note that 'myPaisaa' is purely a technology platform for IBG eChits India Pvt Ltd (IBG) which is a wholly owned subsidiary of Finsave Technologies Pvt Ltd. IBG falls under the ambit of the Chit Funds Act, 1982 read with relevant amendments and falls under the category of NBFCs which are regulated by the other regulators.
Therefore, as defined in clause (b) of Section 2 of the Chit Funds Act, 1982, we are specifically exempted from the requirement of registration with RBI. We come under relevant state regulations.
Please refer to the Question 1, 4, 9, 34, 70 in the FAQ of the RBI at the following link:
All products of IBG are approved and available for public view at the official state government’s site -

Chit Fund features for Saving customers:
Value: Multiple , Return rates: 6% to 12% per annum, Tenure: 6 to 50 months, 100% digital process, Any Time Paisaa feature, Monthly dividend payments.

Chit Fund features for Borrowing customers:
Value: Multiple, Interest Rates: as low as 2% to 25%, Tenure: 6 to 50 months, 100% digital process, 48 hrs payout, No guarantors/collateral required*, even borrowing customers earns monthly dividends, Anytime paisaa feature.

Chit fund is a unique financial instrument that works for both saving and borrowing purposes.

Example of a Chit Plan:
Chit Value: ₹100,000 | Tenure: 25 months | Monthly Subscription: ₹4000 | Monthly dividend: up to ₹1200 | Guaranteed dividend: ₹15,538 | Commission: ₹5,000 | GST: 12% of commission | Processing fee: ₹200

Benefit to Borrower:
If a customer wins the bid amount in the first month of the auction he gets the prize money of ₹65,000 and earns dividends of ₹15,538 till the end of the tenure. The final amount received is ₹80,538.
- Total Money paid by customer: ₹4000*25 months = ₹100,000
- Additional amount paid by customer = ₹100,000 - ₹80538 = ₹19,462
- Additional amount paid per year = ₹19,462/2 = ₹9,731
- Interest rate per annum = ₹9,731/₹80,538 = 12%

Benefit to Saver:
If customer continues to save every month without participating in any bids he will earn a total of
- Total Money paid by customer: ₹4000*25 months = ₹100,000
- Reduce commission of 5% = ₹100,000 - ₹95,000
- Dividend received by customer: ₹15,538
- Total Earning: ₹95,000 + ₹15,538 = ₹ 110,538
- IRR: 12%
*depends on Minimum household income, existing liabilities and credit score.

Why myPaisaa:
1. We are registered as a business entity with the Government of Telangana, India
2. We are regulated by the Registrar of Chits and investment is 100% secured with a security deposit
3. Joining formalities are simple, transparent and completely digitized
4. Easy document submission through eKYC and eSign
5. Multiple diverse goals to cater to diverse customers
6. Chit information is readily available on the app
7. We hold multiple auctions every per month as per the chit plan
8. All auctions are held in real-time on the app and winners announced immediately
9. Dividend and prize money payouts are completed within 24 hrs
10. Chit transactions can be managed independently through the app

myPaisaa Chit Plans:
myPaisaa Chit Plans have been designed keeping every single customer and their various goals in mind. They are tailor-made to ensure you realize your goals in time.

We need the following permissions:
1. Camera & storage – To upload image or photo and proofs related to KYC and document upload.

For any product feedback please reach us at .

Privacy –
T & C –
Licenses –
Updated on
May 1, 2023

Data safety

Safety starts with understanding how developers collect and share your data. Data privacy and security practices may vary based on your use, region, and age. The developer provided this information and may update it over time.
No data shared with third parties
Learn more about how developers declare sharing
This app may collect these data types
Location, Personal info and 5 others
Data is encrypted in transit
You can request that data be deleted

What's new

- Performance improvements and bug fixes
- Improvements for reliability and speed