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Plan a tanda
A tanda is a group where everyone contributes the same amount each round, and one person receives the pot each time. Finavi never handles your tanda money. This planner stays on your device.
Which round do you receive the pot?
The person who collects and hands out the pot.
- Payout amount
- $1,000
- Your total contributions
- $1,000
- At risk before your payout
- $300
- Per month
- $214
What you will have paid in before the pot reaches you. If the circle breaks up early, this is the amount you are counting on other people for.
What your position is worth
A tanda pays no interest, so the whole value is in when you get paid.
Position 4 hands you $600 before you have paid it in, then you pay it back over 84 days. A payday lender would charge about $270 for that same money. A credit union loan would cost about $12.
Every position, side by side
Same circle, different turn. Pick the one that matches what you need this money for.
| Turn | Acts like | Cash at payout | Paid in first |
|---|---|---|---|
| 1 | Loan with no interest | +$900 | $0 |
| 2 | Loan with no interest | +$800 | $100 |
| 3 | Loan with no interest | +$700 | $200 |
| 4Your turn | Loan with no interest | +$600 | $300 |
| 5 | Loan with no interest | +$500 | $400 |
| 6 | Loan with no interest | +$400 | $500 |
| 7 | Loan with no interest | +$300 | $600 |
| 8 | Loan with no interest | +$200 | $700 |
| 9 | Loan with no interest | +$100 | $800 |
| 10 | Break even | $0 | $900 |
A tanda does not earn interest. You receive what the group put in. The value is in the timing, not a return.
Before joining a tanda
- Everyone depends on the other members continuing to contribute.
- A tanda does not have the protections of a bank account. There is no insurance if someone stops paying.
- An early payout means you receive money before you've made all your contributions, closer to an interest-free loan.
- A late payout behaves more like forced saving: you pay in first and receive the pot at the end.
- Know the schedule and know the people involved before you join.
- Finavi does not organize, guarantee, or insure a tanda.