Clear and simple
A small one-time service fee or rewards applies when you join a ROSCA group.
First three payouts
Free
Middle payouts
There are no fees associated with middle payouts in the group
%
Last payout
Earn 1% cash rewards when you receive the last payout position in a group
Example: The last payout position with ten payments of $100 will receive a lump sum of $1000 plus $10 cash rewards.
A cost snapshot
Receive: $930-$950
Total payment: $1000
First three payouts
The first three positions to receive group payouts
Cost: 5-7%
Payment terms: 8 times
No hidden fees
$125/month
Receive: $1000
Total payment: $1000
Middle payout(s)
The middle positions to receive group payouts
Cost: Free
Payment terms: 8 times
No hidden fees
$125/month
Receive: $1010
Total payment: $1000
Last payout
The last position to receive a group payout
Cost: Free | Rewards: 1%
Payment terms: 8 times
No hidden fees
*The information provided is for illustrative purposes only. Payment terms can be customized (up to 12 bi-weekly/monthly cycles per group). No payment is required during your turn. Early payouts service fee ranges from 5-7%. Up to 1% rewards can be earned with the last group payout. Group payments end when everyone has received a payout once.
How we compare
Joola | Payday Loans | Personal Loans | Credit Cards | |
---|---|---|---|---|
No credit check | ✔ | Some | ✘ | ✘ |
No origination fees | ✔ | ✘ | ✘ | ✘ |
Fixed low fees | ✔ | ✘ | ✘ | ✘ |
Transparent payments | ✔ | ✘ | ✘ | ✘ |
Mutual benefits | ✔ | ✘ | ✘ | ✘ |
Cash bonus | ✔ | ✘ | ✘ | Some |
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