Introducing Tanda by Yahoo Finance, the new app that helps you save for the things you want with the help of a trusted community. Tanda members join a savings circle of five (or nine) people. Each circle member contributes a set amount of money into the shared pool with one member then taking the full amount. This repeats over time until everyone in the circle receives a payout. And Tanda gives you peace of mind. If someone in your circle stops contributing, we’ll step in and cover their contributions.
Whether you need help saving for the future or just need money fast, it’s easier with Tanda. According to the National Bureau of Economic Research,1 saving in groups can be more effective than saving on your own. And the more you successfully use Tanda, the more you’ll practice good savings habits and build your trust score, unlocking access to higher payout circles.
So what are you waiting for? Grab your crew and start saving today!
How Tanda Works:
• Sign up. Valid ID and U.S. bank account required.
• Join a savings circle or create one with friends.
• Choose a payout position (certain fees and restrictions may apply). Earlier to get your money sooner. Later to get it down the road.
• Make regular contributions into the shared money pool.
• Take your payout when it’s your turn.
• Join a new circle and save even more
Tanda Features:
• A trusted community: Every Tanda member undergoes an identity verification process.
• Savings flexibility: Earlier payout positions allow quicker access to your money. • Later payout positions help you save for the future.
• Peace of mind: The money you put in is the money you take out. If someone in your circle stops contributing, Tanda will step in and make their contributions.
• Rewards: With each successful saving circle you complete, you’ll earn access to higher payout circles—up to $2,000!
• Convenience: Just sit back and relax. Tanda links to your bank account, automating your savings contributions
and payouts.
References:
1. http://www.nber.org/papers/w18417