Savings Circle
Terms Explained
Everything you need to know about rotating savings, from Susu to ROSCA.
Arisan 🇮🇩 Indonesia
Indonesian rotating savings association, often combined with social gatherings. Members meet regularly to contribute and determine who receives the pot through lottery or turns.
Autopilot Mode
A SusuFlex feature that automatically processes payouts when the circle admin is unavailable for an extended period, ensuring the circle continues without interruption.
Chit Fund 🇮🇳 India
Indian rotating savings scheme where members bid for the pot. The lowest bidder wins, and the difference is shared among members as interest. Regulated by the Chit Funds Act.
Circle
A group of people who agree to contribute a fixed amount at regular intervals to a shared pot. In SusuFlex, a circle is the primary unit of organization.
Co-Admin
A backup organizer in a SusuFlex circle who can manage the group if the primary admin is unavailable. Provides redundancy and prevents single points of failure.
Contribution
The fixed amount each member pays into the pot during each round. All members pay the same contribution.
Cycle
One complete rotation through all members. A cycle ends when every member has received the pot once.
Equb 🇪🇹 Ethiopia
Ethiopian rotating savings association with deep cultural roots. Members contribute weekly or monthly, and the pot rotates through lottery or predetermined order.
Hui 🇨🇳 China
Chinese rotating credit association, also known as "Hui" or "Biao Hui." Popular among Chinese communities worldwide. Can involve bidding for the pot.
Kye 🇰🇷 Korea
Korean rotating savings club, traditionally organized among friends, family, or coworkers. Also spelled "Gye" or "Keh."
Member
A participant in a savings circle who contributes to the pot and eventually receives a payout. All members have equal rights and responsibilities.
Paluwagan 🇵🇠Philippines
Filipino rotating savings system common among friends, family, and coworkers. Known for flexibility in contribution amounts and schedules.
Partner 🇯🇲 Jamaica
Jamaican term for rotating savings clubs. The organizer is called the "banker" and members are "partners." Also common in other Caribbean nations.
Payout
The lump sum received by one member each round, consisting of all contributions from that round. Also called the "pot" or "hand."
Pot
The total amount collected from all members in a single round. Equal to: contribution × number of members.
ROSCA
Rotating Savings and Credit Association — The academic term for savings circles. Used by economists and researchers to describe this financial practice found in cultures worldwide.
Round
One collection period where all members contribute and one member receives the pot. A 10-member monthly circle has 10 rounds per cycle.
Samiti 🇧🇩 Bangladesh
Bengali term for rotating savings groups, common in Bangladesh and West Bengal, India. Often organized by women's groups and microfinance organizations.
Susu 🇬🇠West Africa
West African rotating savings tradition originating in Ghana. The name "SusuFlex" pays homage to this tradition. Also refers to daily savings collection by "Susu collectors."
Tanda 🇲🇽 Latin America
Spanish term for rotating savings circles, popular in Mexico and throughout Latin America. Members are called "tandistas."
Trust Score
A SusuFlex rating that reflects a member's reliability based on payment history, timeliness, and participation. Helps members make informed decisions about joining circles.
Turn
A member's position in the payout order. Early turns receive the pot sooner (like getting a loan), late turns receive it later (like forced savings).
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