Earn up to 28 times as much interest on your money

January 6, 2021

Accrue interest and make your money work for you and your friends.

A collection of US Dollar bills make an interesting financial wallpaper.
Bricks-and-mortar banks cost you when it comes to your savings. With the national average saving account interest rate at 0.07%, that means Joola users will earn roughly 28 times joining money pool groups. To put that in perspective, assume you put $10,000 into a savings account with a 0.07% APY. After one year, you’d have earned about 70c in interest. Joola member, who join a $1,000 group with 12-members and receives the last two payouts of the group, can expect to earn about $10-20 rewards with the current rate.

Users can find financial flexibility by choosing the positions they want when joining a group. With upfront fees and straightforward pricing, users can take advantage of the rewards system to save or get access to low-cost loans. 

The way it works is pretty simple–Joola users can select the number of members in a group that will determine the group duration, choose the payment intervals, i.e., bi-weekly or monthly, and get the payout amount they want to receive. 

It’s free and easy to get started. The sign-up process is similar to a savings account with banks. This way, all the members are verified upon onboarding. All transactions are secure furthermore automated once the group starts.

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