Are you trying to pay off your credit card, plan a vacation, or buy furniture and don’t have a lump sum to pay towards any of these goals?
With Prana, you can invite your family and friends to help pay for each other's short term financial goals. Every week or month everyone contributes towards one member's goal and this goes on till everyone has received a lump sum that they can spend as they planned.
Prana is a social savings app that uses the power of many to reach individual financial goals. This helps uplift everyone.
How Prana Works
What can Prana be used for?
Prana can help anyone save for a short term financial goal, with the help of their friends, family & social ties.
Here are some examples:
Prana is based on a centuries-old system of informal savings groups through which friends and family help each other save for short-term goals.
2. Interest free
Prana allows for interest free loans.
3. It works!
The saving rate for immigrants using informal savings group is more than double that of Americans born in America. The default rates are also substantially lower than loans from banks.