What a seettu isසීට්ටුවක් යනු කුමක්දசீட்டு என்றால் என்ன
A seettuwa (Sinhala) / cheetu / சீட்டு (Tamil) is a group of 10–20 people who each contribute a fixed amount every month. Each month the pooled money goes to one member. When everyone has had a turn, the seettu is complete. The name in the international literature is "rotating savings and credit association" (ROSCA).
It is the same mechanism as Kerala's chit funds, the Caribbean susu, the Ethiopian iqub, the Korean kye, the Mexican tanda, and dozens of others. The mechanism is 500+ years old because it works.
Why it's the fairest optionඑය සාධාරණම විකල්පය වන්නේ ඇයිஇது ஏன் மிகவும் நியாயமான தேர்வு
- No interest at all in a fixed-order or lottery-order seettu.
- Zero administrative cost. One member keeps the ledger.
- Social enforcement. Group members know each other; defaults are rare when the group is well chosen.
- Forced saving. The discipline of committing to a monthly contribution is often the value people join for — not the loan itself.
The Piyavara seettu rulesපියවර සීට්ටු නීතිபியவர சீட்டு விதிகள்
These are the standard rules our workbook and template use. Adjust to your group's context, but do not skip any of them.
- Membership is closed for the whole cycle. Once the seettu starts, no new members. No substitutions except with unanimous consent.
- Contributions and cycle length are written down before starting. Nothing changes mid-cycle.
- The order is set at the start — either by lot (draw names), by publicly agreed need, or by auction with a capped discount (see rule 5).
- The pot is held in a joint account requiring two signatures — one is the current-month organiser, one rotates. The pot never sits with a single person overnight.
- Auction discount is capped at 10%. In an auction seettu, members bid to receive their pot early by accepting a discount; that discount goes back into the pot for everyone. Cap it at 10% to prevent the auction turning into a high-interest loan.
- A member who has received their pot posts a co-signer from the group. If they default in a later month, the co-signer covers the contribution.
- The last two months of contributions are held in the joint account as a buffer against default, not distributed until the cycle closes clean.
- The ledger is published to the group every month. A photo of the paper ledger in the group chat is enough.
- The organiser role rotates monthly — whoever receives the pot next month is next month's organiser. Nobody accumulates power over the group.
- Written agreement, signed by all members at the start. Not enforceable in court in the same way a bank contract is, but a powerful social document.
How seettus fail — and how to prevent itසීට්ටු අසාර්ථක වන්නේ කෙසේද — වළක්වන ආකාරයசீட்டு எவ்வாறு தோல்வியடைகிறது — தடுப்பது எப்படி
| Failure mode | Prevention |
|---|---|
| Organiser absconds with the pot | Rules 4, 8, 9 — joint account, published ledger, rotating role. |
| Member disappears after receiving their pot | Rules 6, 7 — co-signer, buffer. |
| Auction becomes a predatory loan | Rule 5 — cap the discount at 10%. |
| Group falls apart mid-cycle from disputes | Rules 2, 3, 10 — write everything down; use lot or agreed-need order. |
| An outsider persuades the group to take savings elsewhere | Rule 1 — membership closed for the cycle. |
Download the templatesඅච්චු බාගත කරන්නடெம்ப்ளேட்டுகளை பதிவிறக்குக
The workbook's Fair Seettu sheet has:
- Rules written out at the top of the sheet.
- Blank cycle table for 10–20 members with contribution amount, order, receipt-month, and running balance.
- Signature block for the written agreement.