Tanda (informal loan club)

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), pandeiros (Brazil) 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.