chitty
9.9
A savings club where people pay money regularly and take turns getting the shared money
- noun
- Indian
:
chit
Synonyms
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
slate club
vschitty
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
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.
