Finlok App digitises savings groups; locally known as – bhishi, committee, beesi, chitty or kitty (to understand this read our post). Finlok App makes savings groups secure, transparent, convenient and hassle-free.
Why you should use finlok
Convenient & Hasslefree
Finlok removes all the hassles related to beneficiary selection, reminders, notifications and group management
Finlok Rewards
Earn rewards on every transaction related to your saving group
Finlok Cares
Get free Life and permanent disability cover for all group members
Secure and digital payments
Finlok supports direct bank to bank payments so that members can pay from anywhere at anytime
Finlok Rating
Based on group behaviour and payment history Finlok generates a rating. In future helping us provide customised financial services.
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Invest saved funds in Gold
Finlok removes all the hassles related to beneficiary selection, reminders, notifications and group management
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Finlok removes all the hassles related to beneficiary selection, reminders, notifications and group management
HOW TO USE FINLOK APP
1. Download and register on Finlok
Register on the Finlok platform providing mobile number, name and date of birth to develop trust within the Finlok community
2. Create Saving Group
Create savings groups by assigning an amount, payment cycle, payment date and the number of members for the group
3. Invite members to your Saving Group
Simply select contacts from address book to invite members to your Saving Group.
4. Activate Groups
Your group activates either when the required number of friends join your group or you can activate your group once enough members have joined
5. Select Beneficiary (Automated)
Finlok selects a beneficiary for the payment cycle.
6. Group Payments
Pay your share in Cash or digitally on Finlok. All payments are direct account to account transfers (powered by BHIM-UPI) without any funds being locked with Finlok
7. Automated reminders and notifications
Finlok brings transparency, convenience and hassle free operations to the saving group through periodic reminders and notifications to all group members.