Flexible Savings & Borrowing Scheme for Every Need
Catalyst Money, in association with PELMAN, provides monthly chit fund schemes supporting middle class, small, and medium scale industries. Pools are auctioned to the lowest bidder, offering interest-free withdrawals for immediate capital needs.
Chit funds are unique financial instruments that serve as both a savings tool and a borrowing mechanism. For individuals and businesses looking for flexible funding without traditional banking hurdles, chit funds offer an accessible alternative.
Fee Only Financial Planning
Serves as a disciplined savings scheme while simultaneously offering quick access to lump-sum borrowing when needed.
Fiduciary Financial Planning
Enables quick withdrawals of the pooled amount through auction bidding, bypassing traditional banks’ heavy collateral rules.
Professionals Only, No Salespeople
The discount bid by the winning member is distributed back as dividends among all members, reducing the actual cost of borrowing.
Understanding the Monthly Pooling and Auction Cycle
A group of members contribute a fixed sum monthly into a central pool for a specific tenure. Every month, an auction is held where members bid for the pool by offering a discount. The member who offers the highest discount receives the prize money.
The discount amount is shared equally among all members as dividends. This makes chit funds a highly collaborative savings and credit model.
Steps to Participate in PELMAN Chit Schemes
Group Selection
Choose a monthly installment size, pool value, and tenure matching your savings budget.
Monthly Pooling
Contribute your fixed monthly installment regularly to build the collective prize pool.
Auction & Bidding
Participate in the monthly auction. Bid a discount if you require immediate capital.
Prize Disbursal
Receive the PRIZE money upon successful bidding and submission of necessary guarantors.
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