Invave offers a digital group savings platform for individuals who are looking for short-term borrowing or saving opportunities. Users can borrow money for the short-term at low rates or save their money securely while earning good returns.

*How it works?*
1. Download the app and complete the KYC Process
2. Join a circle based on your preferred circle duration, circle payout and payout month.
3. Start saving every month.
4. Earn dividend each month and borrow the funds in your selected payout month.
5. Make timely payments to improve your credit score.

*Features:*
1. Save money and earn good returns.
2. Borrow money at rates lower than standard personal loan rates.
3. Earn monthly stable dividends.
4. Repay on time to increase credit limit.
5. Join multiple circles at a time.
6. Flexible payment options.

*Why use Invave?*
1. Join trusted and convenient money circles.
2. Save money and get rewarded by earning good returns on the money saved.
3. Borrow when in need of an emergency fund.
4. Earn high dividends each month.
5. Easy and hassle-free verification process.

*Verification of documents:*
1. ID proof such as College ID card, Employee ID card.
2. Address proof such as driving license, voter ID card, PAN card, etc.
3. Bank details such as bank statement (in case the money needs to be transferred to a bank account)
4. KYC details, a selfie video (for identification), and a salary slip would be required to complete eligibility.

Minimum and maximum period for repayment - Circle duration - 5, 7, and 10 months

*Maximum Annual Percentage Rate (APR)*
1. Borrow from ₹1,000 up to ₹50,000
2. Interest rate - 6% to 36% per year
3. Choose a late payout month for low-interest rates
4. Earn Interest up to 12% per year by choosing the late payout month
5. Improve your credit score to borrow large funds by uploading required documents and making timely payments.

For example, considering the circle starts in January, if the circle duration is 5 months, a monthly contribution is ₹1000 and the payout month is March, then the user will be able to borrow ₹4600 in March (2% per month service fee and 2% per month dividend cost). The total number of members in the circle would be equal to the circle duration.

Service Fee = ₹5000*2%*2 = ₹200
Dividend Cost = ₹5000*2%*2 = ₹200
Dividend Income in March = (Dividend Cost)/(Total Members) = ₹200/5 = ₹40

The dividend cost is divided equally among all the members of the circle. The user will have to make a monthly contribution of ₹1000 each month and will receive a dividend income each month (₹80 in the first month, ₹60 in second, ₹40 in third and ₹20 in fourth).

No service fee and dividend cost will be charged to the member borrowing in the last month.