Business Development Officer – Chit Fund

1. Position Details

Particulars

Details

Job Title

Business Development Officer

Industry

Chit Funds / Financial Services

Experience

1–2 Years in a Chit Fund company mandatory

Preferred Industry Experience

Chit Fund / NBFC / Banking / Financial Services

Employment Type

Full-Time

Location

Mysuru & Bengaluru

Reporting To

Branch Manager / Sales Manager / Business Development Manager

Level

Executive / Officer

2. Role Purpose To drive business growth by acquiring recent customers, generating quality leads, promoting and enrolling customers into suitable chit fund schemes, maintaining strong customer relationships and achieving assigned business targets while ensuring complete compliance with company policies, regulatory requirements and approved sales processes.

The Business Development Officer will be responsible for developing the assigned market, converting prospects into customers, generating referral business and contributing to branch-level revenue and customer acquisition.

3. Key Responsibilities

A. Business Development & Customer Acquisition

- Identify and develop new business opportunities within the assigned territory.
- Identify prospective customers through field visits, references, networking, database calling and market activities.
- Build and maintain a healthy sales pipeline.
- Meet prospective customers and understand their financial requirements.
- Present appropriate chit fund schemes based on customer requirements and eligibility.
- Convert qualified prospects into chit subscribers.
- Achieve monthly, quarterly and annual customer acquisition and business targets.
- Develop new customer segments and local market opportunities.
- Generate business through existing customer references and networking.

B. Chit Product Sales

- Explain chit schemes, ticket value, tenure, instalments, auction process, dividend, applicable charges, security requirements and other relevant terms accurately.
- Ensure customers understand the product before enrollment.
- Avoid making unauthorized commitments, guarantees or representations to customers.




- Explain the documentation and onboarding requirements clearly.
- Promote only company-approved chit products and schemes.
- Maintain adequate knowledge of all active chit schemes and product features.
- Keep updated with changes in products, pricing, processes and company policies.

C. Lead Generation & Conversion

- Generate leads through:
- Field visits
- Customer referrals
- Existing customer database
- Tele-calling
- Networking
- Business associations
- Local market activities
- Corporate/professional contacts
- References from existing customers
- Qualify leads based on customer requirement and potential.
- Maintain systematic follow-up with prospects.
- Track lead status from enquiry to conversion.
- Minimize lead leakage and ensure timely follow-up.
- Maintain a healthy ratio of fresh leads, prospects, negotiations and closures.

D. Field Sales & Market Development

- Conduct regular field visits within the assigned territory.
- Identify potential markets, institutions, businesses and customer groups.
- Develop relationships with local business communities and referral sources.
- Participate in customer meetings, promotional activities and business development campaigns.
- Conduct market intelligence activities and share relevant competitor/customer information with management.
- Identify opportunities for increasing branch-level customer acquisition.

E. Customer Onboarding & Documentation

- Collect required customer documents as per company policy.
- Ensure KYC and other documentation requirements are completed accurately.
- Coordinate with the Operations Department for customer onboarding.
- Ensure applications are complete before submission.
- Follow up on pending documentation and approvals.




- Avoid submitting incomplete, incorrect or misleading customer information.
- Support customers throughout the onboarding process.

F. Customer Relationship Management

- Maintain regular communication with existing customers.
- Develop long-term customer relationships.
- Address basic customer queries and coordinate with the concerned department for issue resolution.
- Follow up with customers regarding instalments, documentation and other service requirements as permitted under company process.
- Generate repeat business and additional customer references.
- Maintain professional conduct during all customer interactions.
- Ensure customer complaints and concerns are escalated promptly.

G. Referral & Relationship-Based Business

- Generate quality referrals from existing customers.
- Develop referral networks with professionals, business owners, employees and other potential referral sources.
- Maintain a database of referral partners and prospective customers.
- Conduct regular follow-ups with referral sources.
- Convert referral opportunities into actual business.

H. Sales Follow-Up & Pipeline Management

- Maintain daily follow-up schedules.
- Categorize leads into hot, warm and cold prospects based on company-defined criteria.
- Follow up systematically until closure or final disposition.
- Record customer interactions and next-action dates.
- Review pending leads with the reporting manager.
- Ensure no qualified lead remains unattended.

Primary Goals

- Achieve assigned monthly and annual business targets.
- Increase new customer acquisition.
- Increase chit enrollment and business value.
- Build a strong and sustainable sales pipeline.
- Improve lead-to-customer conversion.
- Generate consistent referral business.
- Develop the assigned territory and market.
- Maintain strong customer relationships.
- Ensure accurate and compliant customer onboarding.
- Contribute to branch revenue and overall business growth.

Pay: ₹25,000.00 - ₹35,000.00 per month

Benefits

- Health insurance

Work Location: In person

📌 Business Development Officer - Chit Funds (Bengaluru)
🏢 Caladium Innovations
📍 Bengaluru