About Us

Over six decades ago, Margadarsi Chit Fund introduced the people of Andhra Pradesh to a path towards a happier life. At that time, disciplined chit funds were relatively unknown. Margadarsi pioneered the concept in 1962. As time went on, chit funds gained popularity because individuals recognized them as an ideal means of profitable savings and quick access to funds during contingencies. Today, Margadarsi stands as the foremost Chit Fund Company and a household name in south India.

Amidst the emergence of numerous chit fund companies, Margadarsi has maintained its leadership position by upholding unwavering values such as honest performance, professional integrity, exceptional service quality and absolute financial discipline. These enduring principles have solidified Margadarsi's reputation and distinguished it from its counterparts in an ever-changing landscape.

Every day, the diverse activities and interests of the Eenadu-Margadarsi Group, of which Margadarsi Chit Fund is a part, touches the lives of people in some way or the other. The group is behind renowned brands like Priya pickles and confectionary, along with Eenadu publications, that publish the largest circulated Telugu daily, Eenadu. Additionally, the group also includes News Time, a popular English daily, and a host of magazines. The Group has also established a name for itself in the entertainment domain, with its ETV channels in Marathi, Telugu, Kannada, Bengali, Oriya, Rajasthani, Bihari, Gujarati and Urdu. Dolphin Hotels, its venture in the hospitality business, is known for its customer-centric service. The Group has also made a mark in film production and distribution with Ushakiron Movies, in handicrafts with Kalanjali, and in the realm of innovative ventures with Ramoji Film City, a one-stop destination for film making and a unique tourist destination.

Chit Funds are indigenous financial institutions unique to South India. They have stood the test of time, as evidenced by the growth in the number of chit fund companies in South India. Tracing the history of the origin of chit funds reveals that they evolved at a time when banking facilities had not developed, thus filling an important credit gap in the economy. With the growth of banks, chit funds were expected to be doomed to closure. However, contrary to expectations, vast expansions in the chit fund businesses were witnessed over the years, neck to neck with that of the banking system. Today, chit fund companies are recognized as important credit and investment agencies.

‘Foreman’ means a person who, under the chit agreement, is responsible for the conduct of the chit and includes any other person discharging the duties of the Foreman. It is the personality and conduct of the Foreman, whether individual or institutional, that lends strength to a chit Fund Company. Margadarsi Foremen are known for qualities like promptness, straightforwardness and honesty, building trust and credibility for the company. This ensures prompt payment to subscribers.

The hallmark of Margadarsi’s success is its meticulous planning, coupled with hard work and deep commitment to serve its customers in the best possible manner. New schemes are introduced from time to time by the company to meet the financial needs of the customers and fulfill their aspirations. With an employee force of 4100, and 18000+ agents and development officers, efficient and prompt services are available to customers at all times. In line with its commitment to delivering high quality professional and personalized service, Margadarsi started the unique ‘72-hour response’ facility. This facility ensures quick disbursement of money (subject to documentation) and is unique to Margadarsi, currently not being offered by any other chit fund company.

It is this understanding of the needs and requirements of customers that enabled the company to reach out to a huge number of subscribers continuously and consistently. Margadarsi’s impeccable track record and its strict professional discipline have earned it tremendous goodwill and respect across the diverse social groups: professionals, industrialists, corporate executives, government employees, teachers, housewives and more. Being the pioneers in the chit fund domain, Margadarsi remains the unrivalled preference for lakhs of people, standing tall as the epitome of reliability and excellence.

Having started operations in Tamil Nadu in 1992, Margadarsi is fast gaining a firm foothold in the state. The company has established 16 branches in Tamil Nadu, which provide unparalleled service quality and adhere to unwavering codes of reliability and transparency. These branches uphold the same exceptional standards that propelled the company to its leadership position in Andhra Pradesh and Telangana. In 2001, Margadarsi started six branches in Karnataka and has grown to a total of 23 branches today.

With its vast experience in the field, Margadarsi has made systems and procedures simple, systematic and foolproof. Subscribers can choose from a wide array of chits, ranging from Rs. 50,000 to Rs. 1,00,00,000, designed to suit a variety of requirements. To become a subscriber, individuals need to fill out an enrolment form, and opt for any of the chit schemes available with monthly instalments ranging from Rs. 1000 to Rs. 2,00,000. Depending upon their preference, one may choose Long Term Chits (50 months duration) for savings purposes and Short Term Chits (25 months duration) for emergency planning. Subscribers are entitled to bid at the auction even if only one instalment (i.e., the first instalment) has been paid. However, depending upon the requirement and competition, one can get the bid in any of the instalments. After being declared as successful bidder in the auction, the subscriber has to submit sureties depending upon future liability. The chit money has to be paid back in remaining easy instalments. The successful bidders earns their profits by repaying the monthly instalments excluding the dividends.

Every individual is driven by hopes and aspirations but may lack the resources to make them come true. Sometimes, there are emergencies, obligations and unforeseen expenditures. All these occasions require money in lump sum. It is on occasions like these that one can turn to Margadarsi for help. Whether it's supporting your child’s education, arranging their marriages, building homes, purchasing flats, or securing future investments, Margadarsi has consistently been a reliable and trustworthy companion. The company has been playing a vital role in making life easier for all those who’ve invested their confidence and hopes in it. This explains why the company has become synonymous with trust and reliability.