Cash Circles’ idea is a typical mannequin in over 90 nations across the globe. They name it completely different names like “Chit funds” in India, “Tanda” in Mexico, “Committees” in Pakistan and “Gam’eya” within the Arab world.
MoneyFellows combines saving and credit score by establishing cash circles of which:
– Primarily based on a consumer’s rating they’re able to search and discover a appropriate cash circle to hitch.
– As soon as the cash circle begins, all customers then pay an identical month-to-month installment for an outlined variety of months.
– Every month, one of many circle members receives the full cash paid by everybody else till all members have obtained their payouts.
For the previous 1,500 years cash circles have been achieved offline the identical previous, arduous approach with a number of limitations and pains.
Moneyfellows makes use of know-how to assist folks discover trusted, extra handy cash circles, simply observe and automate funds whereas build up consumer’s MoneyFellows rating
The fantastic thing about having a digitized cash circle platform is the continual availability of slots that meets everybody’s wants (both seeking to save or in want of pressing cash).
– Versatile fee choices (Wage automated deductions – Credit score Card – Money assortment).
– Mounted Payout date for all customers, no delays.
– 100% Trusted cash circles (By no means fear, if somebody stops paying, MoneyFellows will substitute his slot).
– Further advantages for workers of our company companions.
– Sensible scoring system that permits customers to maintain build up his/her rating to unlock increased payouts and earlier slots.