MoneyClub is a peer-to-peer (P2P) group savings platform designed to bring the traditional concepts of Chit Funds, Committees, or Beesi into a digital, secure, and user-friendly mobile environment. It allows users to join or create savings groups, rotate funds among verified members, and enjoy better returns compared to conventional savings instruments like Fixed Deposits or Recurring Deposits.
Key Features:
- No documentation required to join.
- One-time verification fee for pilot club membership.
- Connect with verified users across India who have prior experience with offline savings groups.
- Groups consist of 6 to 20 members.
- Start contributing from as low as ₹200 per day (pilot club).
- Initial pooled amount starts around ₹1200.
- Minimum bid set at 1% of the pool amount.
- Seamless online transactions via UPI, Paytm, Google Pay, IMPS, etc.
- No money stored in the app—direct member-to-member transfers with updated transaction IDs.
- Flexible club frequencies: daily, 3-day, weekly, fortnightly, or monthly.
- Real-time tracking of transactions with SMS, email, and app notifications.
- Full transparency—every member can track timely or delayed payments.
- Commission starts at 6% and can be reduced to 0.3% based on transaction history.
How It Helps:
MoneyClub offers all the benefits of offline savings groups with added digital convenience. Funds are transferred directly between members, eliminating the risk of pooled money lying idle. Transactions are bank-to-bank and online, ensuring security and speed. In case of emergencies, funds can be accessed within 6–8 hours after bidding. Beyond savings and borrowing, it also serves as a social platform to connect with like-minded people.
Getting Started:
1. Download the app and register.
2. Watch the intro video (optional).
3. Fill in your details and submit the form.
4. Receive a verification call within 24 hours.
5. Get invited to a Pilot (Trial) Club with a contribution of ₹200 per day.
6. After completing the pilot, undergo Level 1 Verification.
7. Once verified, move to a Real Club with higher contributions (e.g., ₹600 every 3 days).
8. As your transaction history strengthens, access clubs with larger amounts and multiple groups.
Currently, MoneyClub is available only in India. For support, reach out at [email protected].
Keywords: MoneyClub, P2P savings, chit fund, digital committee, group savings, India, verified members, mobile platform, secure transactions, high returns
