Digital ROSCA vs traditional savings: which is the better solution?

When it comes to saving money, we often have two options: traditional savings through a bank account, or digital ROSCA, a community alternative gaining momentum thanks to apps like Cirkkle. But which one is more advantageous?

Operation: individual vs collective

• Traditional savings: savings are individual, often with low interest rates.

• Digital ROSCA: savings are pooled among several members, according to a defined cycle.

Accessibility

• Opening a bank account may require documentation, fees, and conditions.

• An application like Cirkkle allows you to join a tontine in just a few clicks, without administrative barriers, and for free.

Returns and direct utility

• Traditional accounts offer low returns, sometimes below inflation.

• The tontine allows you to receive a full amount at a key moment, to finance a project.

Security and transparency

• Banks are regulated but not very flexible.

• Cirkkle offers enhanced digital security and total transparency among members.

Conclusion 👉​ two tools, two logics

Traditional savings remain useful for certain uses, but the digital ROSCA, flexible and supportive, emerges as a modern and inclusive solution for those who want to save differently. Combining both also seems to be a good option!