Over five decades ago, Margadarsi Chit Fund showed the people of Andhra Pradesh the way for a happier life. Guided by the vision and determination of Sri Ramoji Rao, Margadarsi made its humble beginning in October, 1962, in a small office with just two people working. To him can be credited pioneering the concept of chit funds in the state as never done before. Now it has become a household name in Andhra Pradesh,Telangana,Tamilnadu & Karnataka.

Far from being a popular form of planning that it is today, chit funds was a little known concept when Margadarsi unfolded it in 1962. But with the passage of time and experience, chit funds became popular as people discovered in it an ideal way to save profitably and raise money at short notice to meet the contingencies. Many companies followed suit and chit fund companies sprung up like mushrooms. In this vast changing scenario, Margadarsi’s unchanging values like honesty of performance, professional integrity, high quality of service and absolute financial discipline helped in retaining its leadership position.   

Margadarsi enjoyed exponential growth over the years and today employs 4,300 employees, and has 16,301 agents, 108 Branches, over 3,11,146 subscribers and a turnover of over Rs.11,206 crores. Margadarsi is not only No.1 Chit Fund Company, but also a household name in Andhra Pradesh.

Why Margadarsi? 
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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 form time to time to meet the financial needs of the customers and fulfill their aspirations. With a task force of 4,300 employees, 8,000 agents and development officers, efficient and prompt services are available to customers at all times. Subscribers can rest assured that the company will serve its customers with the same zeal throughout the association, right up to the termination of the chit.  Keeping with its promise of providing high quality professional and personalized service, Margadarsi started the unique ‘72 hour response’ facility. This facility of quick disbursement of money (subject to documentation) is unique to Margadarsi and currently not being offered by any other chit fund company. 

If for any reason, a subscriber fails to draw the prize amount before the next succeeding auction, the prize amount payable is deposited in a separate bank account. This money is earmarked for payment to the concerned subscriber only. Thus Margadarsi ensures total security for subscribers’ money.

It is this understanding of the need and requirements of customers that enabled the company to reach out to so many subscribers and continues to do so. Margadarsi’s impeccable track record and its strict professional discipline have earned it tremendous good will and respect across the social chain: Professionals, industrialists, corporate executives, government employees, teachers, housewives and more. They all know and have experienced the company’s commitment to give the best and its ability to meet every kind of need. Besides they are secure in the knowledge that Margadarsi belongs to a stable financial group that shares an excellent relationship with all its customers. This success hasn’t come easy. Nor has it in any way made the company take it easy. It was the first chit fund company of its kind and Margadarsi continues to remain the first choice for lakhs of people from the different walks of life.

How Margadarsi works 
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With its vast experience in the field, Margadarsi has made systems and procedures simple, systematic and full proof. Subscribers can choose from a wide range of chits from Rs. 25,000 to Rs. 50,00,000 designed to suit a variety of requirements. To become a subscriber, individuals need to fill out an enrollment form, and opt for any of the chit schemes available with monthly installments ranging from Rs. 1000 to Rs. 1.00,000. Depending upon the requirement, one may choose Long Term Chits (50 month duration) for saving purpose and Short Term Chits (25 months duration) for emergency planning. Subscribers are entitled to bid at the auction even if only one installment has been paid i.e., the first installment. However, depending upon the requirement and competition, one can get the bid in any of the installments. After being declared as successful bidder in the auction, the successful bidder has to submit sureties depending upon future liability either from salaried employees with required basic salary or business people having taxable income or even property mortgage. Thereafter, the prize money is released after completing a few formalities. The chit money has to be paid back in remaining easy installments. The successful bidder earns his or her profit by repaying the monthly installments excluding the dividends.