Last updated: 17 October 2026. Please understand these risks before joining a kitty group.
Not a bank or payment service
KittyPay is software for keeping records. It is not a bank, NBFC, chit-fund company, payment system operator or investment adviser, and it is not regulated by the RBI or SEBI. It never holds or moves money, and your contributions are not deposits or investments protected by any insurance or guarantee.
Risks of group savings
- Counterparty risk: a member may stop paying after receiving their payout, which can reduce later payouts.
- Administrator risk: payouts depend on the administrator transferring money honestly and on time.
- Payment errors: money sent to a wrong UPI ID or account may not be recoverable. Always check the payee name in your UPI app before paying.
- Fraud: never share your UPI PIN, OTP or passwords. KittyPay will never ask for them.
- Legal risk: some group-savings arrangements may need registration under the Chit Funds Act, 1982 or state laws. Organisers must check this.
About holdbacks
Holdback percentages are agreed by the group and shown before the cycle starts. They are recorded as accounting entries for transparency. How any holdback money is held or used is decided by the group and its administrator, not by KittyPay.
No financial advice
Nothing in the app is financial, legal or tax advice. Please consult a qualified professional for advice on your situation.