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Rupiix
Quick Process
Quick Process
Quick Process
Rupiix streamlines the chit fund process, offering quick and hassle-free access to funds. Users can easily join groups, participate in auctions, and receive payouts without delays. The app eliminates paperwork and speeds up disbursals, providing a convenient and efficient solution for fast financial access.
Live Auctions
Quick Process
Quick Process
Rupiix's "Live Auctions" feature allows participants to engage in real-time bidding for chit funds. This enhances transparency and efficiency, as members can participate directly through the app. Instant access to ongoing auctions ensures a seamless, interactive experience, making it easier for users to secure funds when needed.
Safe & Secure
Quick Process
Regulated to Chit Funds Act 1982
Rupiix ensures a safe and secure experience for chit-fund users with advanced encryption and strong security protocols. All transactions and data are protected, providing peace of mind. The app offers transparent tracking of contributions and payouts, ensuring secure processes and full compliance with regulatory standards.
Regulated to Chit Funds Act 1982
Regulated to Chit Funds Act 1982
Regulated to Chit Funds Act 1982
Rupiix ensures all chit fund activities comply with the Chit Funds Act, 1982, providing a legally compliant and trustworthy platform. By adhering to the Act's guidelines, Rupiix guarantees transparency, fairness, and legal protection for all participants.
Chit Plans for All
Regulated to Chit Funds Act 1982
Chit Plans for All
Rupiix offers a Chit Plan for all, with flexible options to meet various financial needs and budgets. Whether for short-term savings or larger financial support, Rupiix provides plans that accommodate everyone, ensuring accessibility and suitability for all types of users.
Customer Support
Regulated to Chit Funds Act 1982
Chit Plans for All
Rupiix offers dedicated Customer Support to assist users throughout their chit fund journey. Whether it’s clarifying the process, resolving queries, or addressing issues related to auctions and payouts, the support team is readily available.
Process @ Rupiix
Getting Started
Subscribers are clubbed together into groups according to the Chit Scheme they have chosen. They pay a monthly subscription to create the 'Pot' regularly from which the first month installment made as a deposit to obtain PSO and agreement number. A group will start its functioning as soon as all the slots in a group are filled in.
The Auction
The auction process allows the members to place their bids following the amount they wish to borrow from the Pot.
The bidder - Auction Winner
Once the members have placed their bids, the lowest bidder merits the chance to win the amount they have bid for. A lucky draw is conducted in case of multiple bidders bid the same lowest amount and therefore the winner shall be announced.
Due diligence
The documents due diligence shall be carried out to make sure the future receivables before the disbursal of the prize money as a part of credit policy. Rupiix collects fewer documents comparing to the other players in the market.
Prize Money
The prize money is paid to the successful bidder after all the required assessment is completed.
Distribution of Dividend Amount
Subscribers including a successful bidder enjoy the left out amount in the pot as a form of dividend which shall be distributed equally among the subscribers in the group.