Joola: Money Pool with Rewards

4.4
17 reviews
1K+
Downloads
Content rating
Everyone
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About this app

Joola lets you start and manage money pools with relatives, friends, coworkers, or other Joola users. Joining money pools with people you know and trust allows you to borrow and earn cash bonuses. It's easy to track group activities with automated payments!

Take care of debt from credit cards and student loans, plan major expenses, or even build emergency funds with Joola.

What is Joola?

✓ Joola is a group savings platform.

✓ Joola is a digital version of Rotating Savings and Credit Association (ROSCA).

Commonly known as tandas (Latin America), chama (Swahili-speaking East Africa), stokvel (South Africa), susu (West Africa and the Caribbean), hui (會) (Chinese communities in East and Southeast Asia), gye (계) (South Korea), tanomoshiko (頼母子講) (Japan), Chit Fund (India), pandeiros (Brazil), juntas, quiniela or panderos (Peru), arisan (Indonesia), lenshare (เล่นแชร์) (Thai), dhukuti or dhikuti (Nepal), and menage or menodge (Scotland).

✓ Joola is a way for each member of a group to help others save and build better financial habits.

****** SKIP THE BANK WITH CO-SAVINGS ******

+ Be social! Manage your group, chat, and socialize with friends through the app.

+ It is fun to save money with friends and family. You can talk about what you are saving for, and then help each other out.

+ Saving alone is difficult. Triple the chance of success when you do it together.

+ Invite friends you trust. When you create a group, you will be in control. You can choose to only accept people you trust as your contacts and to join your group.

+ Start with a minimum of 4 members and add up to 12 members in your group.

+ Get peer support for your finances and earn cash rewards with last payouts.

****** GET SUPPORT FROM FRIENDS AND FAMILY ******

+ Need cash soon? Avoid paying high-interest loans or payday loans and take the first payout from your group. The costs are low, straightforward, and easy to understand.

+ Create a group with the payment terms you want. Then pay a one-time fee per group for early payouts.

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The first payout - pay 7% per group payout

For example: if you join a group of four people with total payment of $300 per member, you will only pay $21 service fee if you are the first member to receive a group payout.

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The second payout in the group - pay 6% per group payout

For example: if you join a group of four people with total payment of $300 per member, you will only pay $18 service fee. If you are the second member to receive a group payout.


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The third payout in the group - pay 5% per group payout

For example: if you join a group of four people with total payment of $300 per member, you will only pay $15 service fee. If you are the third member to receive a group payout.

****** EARN CASH REWARDS ******

Do you want to make money work for you? Earn more than 20 times more than the national average interest rate for savings accounts. Join groups and take the late payouts.

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The last payout position in a group will receive +1% per payout

For example: if you join a group of four people for $300 each and get paid every month, you will earn a cash bonus of $3 for receiving the last group payout.

****** EASY AND SECURE ******

+ When you sign up for Joola, everyone needs to verify who they are. This is so that we can keep your account safe. To do this, you have to provide personal information.

+ All your payments are automated so you don't need to worry about them.

+ We keep your information private. We will never share it with any third party without permission.

+ Your information is safe with us. We use bank-level encryption and your information is never stored on our servers.

It is free and easy to start your group. Invite friends to join so you can save together!

Disclaimer: Joola is not a pyramid scheme, lender, advisor, broker, credit repair company, credit reporting agency, or financial institution. Joola does not give away money for free.
Updated on
Sep 5, 2022

Data safety

Safety starts with understanding how developers collect and share your data. Data privacy and security practices may vary based on your use, region, and age. The developer provided this information and may update it over time.
This app may share these data types with third parties
Personal info, Financial info, and Files and docs
This app may collect these data types
Personal info, Photos and videos, and App info and performance
Data is encrypted in transit
You can request that data be deleted
4.4
17 reviews
Beretta Kearney
July 10, 2022
great app appreciate the opportunity to be able to join this wonderful program development thanks in advance for the service ☺️
8 people found this review helpful
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Johnny Damian
May 7, 2022
I am pleasantly surprised when I see that my small contributions have accumulated into something substantial over time. 😁 Saving money has been my long-term goal, and it's nice to be able to join groups with my friends and siblings. I'm using my payouts to pay off my car loan faster so that I can save money on interest.. 💯
23 people found this review helpful
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Jessie Morris
June 7, 2022
Great earning app very lagit and true
12 people found this review helpful
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What's new

Improvements in various places within the app