Definition, Meaning & Synonyms
tanda
noun
/ˈtændə/
Definition
A tanda is a system of rotating savings and credit, where a group of people contributes a fixed amount to a common fund, and each member gets a turn to receive the total amount.
Examples
- In many cultures, families use a tanda to save for special occasions.
- She joined a tanda with her friends to help everyone save for a vacation.
- The concept of tanda is often utilized in rural communities to promote savings.
Meaning
The term refers to a financial agreement among members of a community, often used for saving money collectively.
Synonyms
- Rotating savings
- Saving circle
- Chit fund
