<P> A tanda is the Latin American term for an informal rotating savings and credit association (ROSCAS). They are operated globally, but have over 200 different names that vary from country to country . They are also known as cundinas (Mexico), susu / Osusu (West Africa and the Caribbean), hui (Asia), juntas (Peru), cuchubales (El Salvador and Guatemala), pollas (Chile), pandeiros (Brazil), paluwagan (Philippines), Stokvel (South Africa) or quiniela . An English name for such an association is a partnerhand . In short, a tanda is a form of a short - term no - interest loan among friends . </P> <P> A tanda may be managed in different ways . The way it usually works is a group of people that know each other get together to collect money (either weekly, monthly, yearly) to help each other financially . Participants can come up with any rules as long as they benefit the group . Usually there is an amount of money and number of people in the group that they all agree to in order to have cash right away . When they come to an agreement of who will be in the tanda and how much it will be (either weekly, monthly, yearly), they have to come up with the order of who is going to receive the money . Participants can either raffle the numbers or make the decision in who needs the money most . It all depends on the group's decisions . </P> <P> As an example, a tanda is formed between ten friends and family . Each member gives $100 US D every two weeks to the group's organizer . At the end of the month, one participant gets the "pot", $2000 . This continues until each member has received the pot . </P>

Como se dice tanda de dinero en ingles