chitty
9.9
A savings club where people pay money regularly and take turns getting the shared money
- noun
- Indian
:
chit
Synonyms
slate club
vschitty
1
8.4
A group of people who regularly put money into a shared fund and get it before Christmas
focuses on payouts given to members in turn on a regular basis
1
9.9
A group where people pay money and take turns getting the whole pot
is used especially in South Asia rather than across regions
Surface Forms
Etymology
Chitty comes from Indian words like chit or chitthi, which mean a 'small note' or 'ticket'. In a rotating savings scheme each member used a 'chit' to show who would get the pooled money, so the whole system became known as a chitty.