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Product
Finance Daily Collection Software
Finance Daily Collection refers to the Thandal method of lending and collecting money.
Under the Thandal method, finance companies provide loans to customers, and the customers repay the amount to the finance company on a weekly or monthly basis. In most cases, the repayment is made weekly.
For example, if a finance company provides a loan of ₹10,000, an interest amount of ₹1,500 may be deducted upfront, and the customer receives ₹8,500. The customer then repays the agreed amount over a fixed period, such as ₹1,000 per month for 10 months.
Our Finance Daily Collection software can be used to manage this type of Thandal-based finance business, including loan details, customer payments, interest, and collection tracking.
Fixed Interest Method
The next method is the Fixed Interest Method.
Under this method, a customer may take a loan of ₹1 lakh, ₹2 lakh, or another amount and pay a fixed interest rate, such as 2% or 3% per month.
The customer pays the interest amount every month, while the principal amount can be repaid separately. Once the entire principal amount has been repaid, the loan is considered closed.
This method can also be managed efficiently using our finance software, with proper tracking of principal, interest, collections, and loan closure.
Customer Pay App
In the Customer Pay App, customers can make their payments by themselves.
For this, we integrate a payment gateway such as Razorpay or CCAvenue and create an account for the chit company. All payments made by customers through the app will be automatically credited to the chit company’s account.
The customer simply selects their group, chooses the due amount for that month, and makes the payment. Once the payment is completed, the amount will be automatically credited to the chit company’s account.
The entire process works automatically, without any manual intervention. This helps reduce the workload for the chit company and makes the payment process much easier and more convenient for customers.
As a result, the payment process is completed immediately and efficiently.
Deepavali Fund Software
A Deepavali Fund is a savings scheme in which customers contribute ₹1,000 every month for 11 months. At the end of the scheme, they receive an additional amount equivalent to one month’s contribution as a bonus.
During the Deepavali festival, customers can use the accumulated amount to purchase household items, kitchen utensils, groceries, jewellery, or other festival-related products, depending on the scheme offered by the company.
This is how the Deepavali Fund scheme works.
Similar schemes are also available for other festivals, such as Pongal Fund, Christmas Fund, and Ramzan Fund.
Among these, the Deepavali Fund is particularly popular, and many customers benefit from this type of savings scheme.
Testimonials
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Let's see what others say about GENERIC technology!
Wonderful Support!
genericchit for my business, from billing to reports everything is easy to manage. Because it is cloud based so there is no chance that we could lose data, thank you GENERIC for fulfilling my requirements. I would definitely recommend this product.
Mr.Sankar, MD - Sree Aswakrish Chits Pvt Ltd
Awesome Services!
Congratulation for the launch of genericchit at our chit funds in four cities. It was a pleasure working with a dynamic team having a lot of enthusiasm and open to listen customer feedback. I am sure we will have a strong and long relationship with genericchit. All the very best.
Mr.Nagaraj Pillay,MD - Nagashiva Chits Pvt Ltd
Great & Talented Team!
We have been using GENERIC Chit Fund Software for last 8 years. GENERIC is a seamless integrated system with back and front office especially designed for high-end chit funds industry.
Mr. Partha Sarathy,MD - Vibu Chits Pvt Ltd
Best Support!
genericchit have invested in gaining good techno Chit activities. It helped us a lot in adapting rapid industry change, redesigns business process and achieved new levels growth and profitability..They�ve really helped us solving a number of operational challenges.
Mr.Heman,Director- Pravardhan Chit Funds Pvt Ltd
Amazing Services!
A seamless back-end software solution, independently developed, implemented and supported by genericchit Software, facilitates low turnaround time and enhanced service qualities.
Mr.Riaz Mohammed , MD- Vasantham Stores
Excellent Team!
genericchit is a wonderful software with ease of operation, which has helped us to control all chit fund activites.It is the best investment for a business and an asset which has increased my assets.
Mr. Rama Krishnan ,Director-Trichy Chit Funds Pvt Ltd
