Sou Sou is an Android application that allows groups of people to make regular monetary contributions to a common fund and help each other financially.
How it works
The utility is developed for rotating savings clubs. This means a group of people can collect money and then give it to a certain member. The receiver changes each cycle as the help applies to each groupmate when their turn comes. Sou Sou takes a huge part in this act as it simplifies the process of making regular monetary contributions.
To pool your money in an informal savings club, you have to register it in the application. First, it is necessary to enter the name of your group, the value of hand and currency. Only then you and your group mates will be able to set a fixed amount of money on a weekly or monthly basis.
If you are not a participant in such savings clubs, but still seeking financial help, it is possible to download Branch app. This service analyzes your credit score and salary to offer you loan plans.
Calculator
There is a tool that helps you to calculate how much money you have to contribute based on your needs. It is necessary to enter the value of each hand to be paid out and its frequency. The app also requires you to set the length of time and first payment date. Afterwards, you can find out the result and see if it is suitable for you.
Features
- possible to regularly contribute a certain amount of money and get payout once in a while;
- users need to be participants of savings clubs;
- provides a calculator which shows how much and how often you need to pay ;
- app is free to use and download;
- compatible with current Android versions.
