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  • Chit

    Transféré par

    prashanth
    721 vues9 pages
    This document outlines the details of a proposed chit fund plan, including: - The total chit amount is Rs. 100,000 over 20 months. - There are 20 members who will each pay an EMI of Rs. 5,000 per month. - The chit organizer will receive a commission, and members will pay a penalty for late payments. - A table tracks the monthly collections and shows how the highest bid amount will change each month depending on demand. The document provides examples of how members could benefit depending on whether they win the bid and what returns they could expect by investing the money from different investment options.

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    chit

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    This document outlines the details of a proposed chit fund plan, including: - The total chit amount is Rs. 100,000 over 20 months. - There are 20 members who will each pay an EMI of Rs. 5,000 per month. - The chit organizer will receive a commission, and members will pay a penalty for late payments. - A table tracks the monthly collections and shows how the highest bid amount will change each month depending on demand. The document provides examples of how members could benefit depending on whether they win the bid and what returns they could expect by investing the money from different investment options.

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    © All Rights Reserved
    Téléchargez comme XLSX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    721 vues9 pages

    Chit

    Transféré par

    prashanth
    This document outlines the details of a proposed chit fund plan, including: - The total chit amount is Rs. 100,000 over 20 months. - There are 20 members who will each pay an EMI of Rs. 5,000 per month. - The chit organizer will receive a commission, and members will pay a penalty for late payments. - A table tracks the monthly collections and shows how the highest bid amount will change each month depending on demand. The document provides examples of how members could benefit depending on whether they win the bid and what returns they could expect by investing the money from different investment options.

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme XLSX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 9

    PROPOSED CHIT P

    Total Chit Amount


    No. Of Chit members
    No.of EMIs (once per every member i.e. 1 x no.of members)
    Chit Organizer commission
    Penalty for late payment
    Due date every month

    Month

    Month
    Number

    EMI

    Collected amount

    Feb-15
    Mar-15
    Apr-15
    May-15
    Jun-15
    Jul-15
    Aug-15
    Sep-15
    Oct-15
    Nov-15
    Dec-15
    Jan-16
    Feb-16
    Mar-16
    Apr-16
    May-16
    Jun-16
    Jul-16
    Aug-16
    Sep-16

    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15
    16
    17
    18
    19
    20

    5000
    4935
    4870
    4805
    4740
    4675
    4610
    4545
    4480
    4415
    4350
    4285
    4220
    4155
    4090
    4025
    3960
    3895
    3830
    3765

    100000
    98700
    97400
    96100
    94800
    93500
    92200
    90900
    89600
    88300
    87000
    85700
    84400
    83100
    81800
    80500
    79200
    77900
    76600
    75300

    Totals

    20

    87650

    1753000

    Table above gets updated after every bid(if bid amount is increased due to dema

    Important Notes/Rul
    1

    NO Brokarage

    Managed by Srikiran, Prashanth & Lakshmi

    Tentative Bid Date -1st of Every month. Bidding starts with min
    demand.

    Due date Everymonth is 10th. Late payment Penalty of 250/we


    paid on or before time

    A person can enroll for maximum 2 shares i.e. 2 x 5000

    In case Chit member leaves FMC, or want to leave Chit


    a) He/she can sell it to other person or

    b) Has to pay back Remaining EMIs if bid is taken by him/her in

    c) In case he has not bid till that time, he will bid for that mont
    7

    In case No one Bids in a Month


    a) Next month bidding is compulsoray through DRAW

    b) 2 Winner amounts will be shared for persons identified throu


    8

    Additional rules/Notes will be added as needed

    Illustrations how this chit can be beni

    You
    Bid in the
    Month of

    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15
    16
    17
    18
    19
    20

    Case 1 : Worst Case


    Winner amount kept in FD
    Actual Money Value
    with 8% interest
    rate(Fixed Deposit??)

    % Profit

    84838
    85792
    86729
    87648
    88550
    89435
    90302
    91152
    91985
    92800
    93598
    94379
    95142
    95888
    96617
    97328
    98022
    98699
    99358
    100000

    -3.21
    -2.12
    -1.05
    0.00
    1.03
    2.04
    3.03
    4.00
    4.95
    5.88
    6.79
    7.68
    8.55
    9.40
    10.23
    11.04
    11.83
    12.61
    13.36
    14.09

    Table above doesn't consider profit/loss due to Penalty

    ROPOSED CHIT PLAN


    100000
    20

    er i.e. 1 x no.of members)

    20
    0
    INR 250/ week
    10th

    Minimum
    Bid amount

    Max Winner Amount

    Penalty
    collected/Shared

    24700
    23400
    22100
    20800
    19500
    18200
    16900
    15600
    14300
    13000
    11700
    10400
    9100
    7800
    6500
    5200
    3900
    2600
    1300
    0

    75300
    76600
    77900
    79200
    80500
    81800
    83100
    84400
    85700
    87000
    88300
    89600
    90900
    92200
    93500
    94800
    96100
    97400
    98700
    100000

    24700
    22100
    19500
    16900
    14300
    11700
    9100
    6500
    3900
    1300
    -1300
    -3900
    -6500
    -9100
    -11700
    -14300
    -16900
    -19500
    -22100
    -24700

    1753000

    amount is increased due to demand)

    Important Notes/Rules

    akshmi

    th. Bidding starts with min Bid amount as in table and can go as per

    ayment Penalty of 250/week will be shared among other members who

    hares i.e. 2 x 5000

    want to leave Chit

    or

    f bid is taken by him/her in previous months

    e, he will bid for that month or other members will adjust his amount

    ay through DRAW

    or persons identified through DRAW

    as needed

    this chit can be benificial for all members


    Case 2 : 16% interest by Investments
    PERSONAL LOAN below 2 lakhs

    Case 2: Winner Amount Invested


    (Personal Loan at 14 %)

    Actual Money Value


    with 16% interest
    rate

    % Profit

    Money Value with 14%


    interest rate

    94376
    94984
    95557
    96096
    96600
    97069
    97504
    97904
    98269
    98600
    98896
    99157
    99384
    99576
    99733
    99856
    99944
    99997
    100016
    100000

    7.67
    8.37
    9.02
    9.64
    10.21
    10.75
    11.24
    11.70
    12.12
    12.49
    12.83
    13.13
    13.39
    13.61
    13.79
    13.93
    14.03
    14.09
    14.11
    14.09

    91992
    92686
    93350
    93984
    94588
    95161
    95704
    96216
    96698
    97150
    97572
    97963
    98324
    98654
    98954
    99224
    99464
    99673
    99852
    100000

    Penalty
    collected/Shared
    (per person)
    1300
    1163
    1026
    889
    753
    616
    479
    342
    205
    68
    -68
    -205
    -342
    -479
    -616
    -753
    -889
    -1026
    -1163
    -1300
    0

    nd can go as per

    other members who

    djust his amount

    Winner Amount Invested


    rsonal Loan at 14 %)

    % Profit
    4.95
    5.75
    6.50
    7.23
    7.92
    8.57
    9.19
    9.77
    10.32
    10.84
    11.32
    11.77
    12.18
    12.55
    12.90
    13.20
    13.48
    13.72
    13.92
    14.09

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