Money Made Better, Together
Join savings groups with friends and family to consolidate debts and get cash rewards
How it works
Group members make equal contributions into a shared pool and one member receives the full amount in each cycle. The process repeats over time – all members chip in, one member then takes it all. The group ends after everyone gets a full payout once.
A brief overview
Saving money in groups boost your success rate and triple the fun
Flexible options for your money
Experience mutual benefits from a combined system of peer-to-peer lending and savings
Peer-to-peer lending
Pay 5 to 8% one-time fee per payout for early access to cash. Gain access to funding without the social awkwardness.
Peer-to-peer savings
Earn up to +2% return on your savings. Grow your savings faster by waiting to receive late payouts. Your wallet and friends will appreciate you!
Build rapport with friends
Improve mutual trust and relationship among friends and family with successful payments.
Simple and transparent payments
Enjoy planning your finances with ease when you join Joola. No origination fees. No surprises.
Boost your savings and karma at the same time
Patience can pay off quite literally. Earn 1-2% cash reward by receiving the last group payouts.
Designed for everyone
Whether you are looking for a better loan option or earn high-interest cash, you can easily find a group that fits your needs.
Simple and affordable rate
Boost your savings faster
Earn up to 2% cash rewards
How we compare
| Joola | Payday Loans | Personal Loans | Credit Cards | |
|---|---|---|---|---|
| Low credit score | ✔ | Some | ✘ | ✘ |
| No origination fees | ✔ | ✘ | ✘ | ✘ |
| Fixed low fees | ✔ | ✘ | ✘ | ✘ |
| Transparent payments | ✔ | ✘ | ✘ | ✘ |
| Mutual benefits | ✔ | ✘ | ✘ | ✘ |
| Cash bonus | ✔ | ✘ | ✘ | Some |
Scroll to view more comparisons →
Get peer support for your finances
Work together as a group to reach your unique financial goals
Pay off debts
Car repairs
Large expenses
Travel
Weddings
Education
Home projects
Rainy day
Connect with other smart savers now
Saving money in groups can boost your success rate and triple the fun
Create your account
Download the app and verify your identity. Connect your bank account to easily make contributions and receive payouts.
Find or create a group
Choose the terms that fit your need. Invite friends to join your group and start saving together. Chat and organize all the details via the Joola app.
Pay and get paid
All payments are automated when you connect your bank account. Receive a payout when it’s your turn! Join another group when completed to continue saving money.
FAQ
What fees are involved?
Simple! We charge a low percentage fee based on your payout position. The first member to receive a payout will be charged 8%, the next few turns are charged at 5%, whereas the last two members will receive 1% and 2% cash rewards respectively.
All the fees will be deducted per payout. You can view all the payment details, including the fees on your payment schedule screen.
How do I get the cash bonus?
Good things come to those who wait! When you are the last two members to receive a payout in your group, you will earn 1-2% cash reward. Grow your savings faster than regular savings accounts.
What do I need to get started?
You will need to have a valid social security number and a U.S. bank account. We may also ask a few questions to verify your identity and making sure everyone is who they say they are. This is an important step to protect our users.
The success of the group is dependent on everyone in the group succeeding.
Sign up for free
Simply enter your email to join our waitlist