Chit groups on KyePot help you achieve your goals faster, provides a cheap source of borrowing, and offers complete transparency of your investments.
So how does this work?
We'll assume your goal is to buy a new car. Scroll down to see how you can achieve your goal in a simple systematic manner with a group on KyePot.
Let's see how you can buy a new car by saving in and borrowing from a KyePot group.
Start by joining a group that will allow you to buy your dream car.
Once the group is complete, everyone in the group pools their monthly contribution, creating a large pot.
When you’re ready to buy the car, place your bid for the pot.
Congratulations! You won the bid and have received your bid amount from the pot.
The balance leftover in the pot is distributed equally between all the members of the group (including you - the winner).
The cycle repeats every month, till every member has won the pot. Even after winning their bids, everyone continues to contribute their monthly commitment till the end of the group.
Did you know?
Chit groups offer the lowest cost of capital as compared to other financial tools