Frequently Asked Questions

Creating a group is easy! After logging in, click "Create Group" from your dashboard or the Village Banking menu. You'll be guided through a 7-step wizard to set up your group's details, cycle, meeting schedule, interest rates, share settings, payment accounts, and penalty rules. Once complete, you'll be assigned as the Chairperson automatically.

To join an existing group, you need an invitation from the group's Chairperson or Vice Chairperson. They will send you an email invitation with a link to join. Click the link, create an account (or log in if you already have one), and you'll be added to the group as a Member.

Yes! All plans include a free trial period. The trial duration is half of your group's cycle length (e.g., a 6-month cycle gets a 3-month trial). During the trial, you have full access to all features of your selected plan. No payment is required to start.

LoSave is a Progressive Web App (PWA), which means it works on any device with a modern web browser — smartphones, tablets, laptops, and desktop computers. You can also install it on your phone's home screen for an app-like experience with offline support.

Yes! You can create or join multiple village banking groups with a single LoSave account. Each group operates independently with its own rules, cycles, and finances. You can easily switch between groups from the "My Groups" page in your dashboard.

To record a savings contribution, go to your group's dashboard and click "Make Saving" or navigate to My Savings → Submit Saving. Enter the amount, payment method, payment reference, and optionally attach proof of payment. Your contribution will be pending until approved by a group admin (Chairperson, Vice Chairperson, Treasurer, or Vice Treasurer).

If you miss a savings deadline, you may incur a penalty depending on your group's rules. Groups on Standard or Pro plans can configure automatic penalties for late or missed savings. You'll receive reminder notifications before the deadline to help you stay on track.

Shares are calculated by dividing your total savings by the group's share value. For example, if the share value is K100 and you've saved K500, you have 5 shares. The group admin sets the share value, minimum savings, and maximum savings per cycle during group setup.

Yes! You can save any amount between the minimum and maximum savings limits set by your group. Saving more increases your shares and may increase your loan eligibility, depending on your group's loan multiplier settings.

The Social Fund is an optional contribution separate from regular savings. It's typically used for emergencies, welfare, or group activities (like funerals or celebrations). The group admin can enable or disable the Social Fund and set the contribution amount during group setup.

Your loan eligibility is based on a multiple of your savings. Most groups use a 3x multiplier, meaning if you have K1,000 in savings, you can borrow up to K3,000. The exact multiplier is set by your group admin. You can check your current eligibility on the "Request Loan" page.

Interest rates are set by each group independently. Common rates range from 5% to 20% per month, depending on your group's rules. The interest can be calculated as a flat rate or reducing balance. You'll see the exact interest amount before submitting your loan request.

Late loan repayments may incur penalties based on your group's settings. You'll receive reminder notifications before your payment is due. If a loan remains unpaid by the end of the cycle, it may be marked as defaulted, and the outstanding amount may be deducted from your share-out.

This depends on your group's rules. Some groups allow multiple concurrent loans up to your total eligibility, while others require you to fully repay one loan before taking another. Check with your group admin or view the group settings for details.

Go to My Loans → View your active loan → Click "Make Repayment". Enter the repayment amount, payment method, reference, and optionally attach proof. The repayment is recorded and your outstanding balance is updated automatically after approval.

Groups have the following roles: Chairperson, Vice Chairperson, Secretary, Treasurer, Vice Treasurer, Committee Member, Member, and Auditor. Each role has different permissions for managing the group. The person who creates the group is automatically assigned as Chairperson.

Only Chairpersons and Vice Chairpersons can invite new members. Go to Group Settings → Members → Invite Member. Enter the person's email address and select their role. They'll receive an email invitation with a link to join the group.

Yes, you can leave a group at any time. However, if you have outstanding loans, you'll need to repay them before leaving. Your savings records will be retained for accounting purposes. If you're the only admin, you must transfer ownership before leaving.

A cycle is a defined period during which the group operates (e.g., January to December 2026). At the end of each cycle, profits from loan interest are distributed among members based on their shares. A new cycle can then be started with fresh rules or carried-over balances.

At cycle end, the total pool (savings + interest earned - social fund) is divided among members based on their shares. If you have more shares, you receive a larger portion of the profits. Outstanding loans and penalties are deducted before distribution.

We accept Mobile Money (MTN, Airtel, Zamtel) and bank cards (Visa, Mastercard) via our secure payment partner DPO Pay. All payments are processed securely and you'll receive a receipt for each transaction.

Yes! You can upgrade or downgrade at any time from your Billing settings. When upgrading, you'll receive pro-rated credit for unused days on your current plan. Downgrades take effect at the end of your current billing cycle.

If you've added a payment method and selected a plan, you'll be charged automatically. If not, your account moves to read-only mode — you can still view your data but can't record new transactions until you subscribe.

You can cancel anytime from Account → Billing → Cancel Subscription. Cancellation takes effect at the end of your current billing cycle. Your data is retained and you can reactivate at any time by subscribing again.

Yes! When you pay annually, you save approximately 17% compared to monthly billing. That's like getting 2 months free. You can switch between monthly and annual billing from your Billing settings at any time.

We use bank-level security measures including SSL/TLS encryption for all data in transit, encrypted storage for sensitive data at rest, and secure authentication with optional two-factor authentication (2FA). Our servers are hosted in secure data centers with regular backups.

Yes! We strongly recommend enabling 2FA for your account. Go to Account → 2FA to set up an authenticator app like Google Authenticator or Microsoft Authenticator. You'll receive backup codes in case you lose access to your authenticator.

Only members of your group can see group-level financial information. Your personal statement and transaction history are visible only to you and authorized group admins. LoSave staff may access data for support purposes only with your explicit permission.

Yes, you can request account deletion from Account → Delete Account. If you belong to a group's executive committee, you must resign or transfer your role first. Your savings and loan records are retained for accounting and legal purposes, but your personal account data will be permanently deleted.

If you notice any suspicious activity or security concerns, please contact us immediately at security@losave.app. We take all security reports seriously and will investigate promptly. You can also change your password immediately from Account → Password.