Terms & Conditions - The Money Club

Terms and Conditions

Last updated on 19 January 2026

01. Individual Contribution

A fixed amount that each user contributes towards the club.

02. Club Frequency

Duration between bidding rounds chosen when the club was created.
Daily, 3 days, Weekly, Fortnightly, Monthly, etc.

03. Club Amount

Total value of the club per round i.e. (Number of members) x (Individual contribution), also known as pooled amount.
For an instance, in a club of 5 members, where each member agrees to contribute Rs 10,000/-, the club amount will be 5 x Rs 10,000 = Rs.50,000.

04. Bid Amount

The value of interest a member is willing to pay to pick up the Club Amount.

05. Bid Date

Date agreed by the Money Club team for bidding.

06. Bid Time

Time of the day when the bidding will start on the Bid Date as per the available bidding slots. Bid time is usually between 5 PM to 10 PM.
The bid is usually activated within 30 minutes of the previous bid time depending on the slots available.

07. Bid Window

Duration for which the members will be able to bid.
The Bidding Window is 15 minutes except in case of Super timer.
Super Timer: This feature increases the bidding window by 1 minute every time any club member places a bid in the last 1 minute of the bidding. Super timer will not work in last 10 seconds of bidding as we will be closing the bid during the last 10 seconds.
The app sends alarms to members before the bidding starts as a courtesy, however members should ensure not to miss the bidding.

08. Penalty for delayed transactions

Penalty structure is not applicable in the pilot clubs.
Clubbers will need to pay a penalty in case their transactions are delayed and done after 18 hours from the bid end time.

If any pending transaction in a club is not completed within 18 hours from the bid end time of the ongoing round in a club, a penalty will be applied and will increase every 6 hours of further delay, as per the below table:

Club Amount(₹)	Penalty Start Amount(₹)	Penalty Increment Per 6 Hours(₹)
50000	80	80
40000	70	70
30000	60	60
25000	50	50
24000	45	45
20000	45	45
18000	45	45
16000	40	40
15000	40	40
12000	35	35
10000	30	30
8000	30	30
6000	30	30
5000	30	30

Maximum penalty will be 80% of the individual contribution amount.
Penalty will be collected by the Money Club and the bid winner will get 30% of the penalty amount in the Vault section of the Money Club app as soon as it is received from the sender.
The bid winner will get the penalty share as credits in the Money Club Vault. These Vault Credits can only be utilized within the Money Club to pay commission to the Money Club.
All club members give their consent to abide by this penalty structure if they accept their invitation to join a money club.

09. Defaulted Club

A Club will be declared defaulted if any of the following conditions are met:
- One or more members of a club refuse or fail to make the necessary transfers against a round of bidding before the scheduled bid date of the next round of bidding + 1 day.
- One or more members of a club refuse or fail to confirm the necessary transfers against a round of bidding before the scheduled bid date of the next round of bidding + 1 day .
If someone defaults in a club, he/she gets blacklisted from the Money Club platform. Therefore, if someone defaults in 1 club, he/she is considered as a defaulter in all his/her active clubs.
The moment someone is unable to complete his/her transaction in a particular round on the scheduled date and time (shown on the app) in any of his/her clubs + 1 day, he/she is declared as a defaulter in all his/her active clubs on the Money Club platform.
Due amount: In case of a default, the due amount is the sum total of all the present and future commitments in all the money clubs wherein someone has defaulted. And it will also include the penalty amount for delayed transfers, whenever applicable.
If a net investor (someone who has not won the club amount in his/her money club/s) fails to complete his transaction in his/her money club/s before the next scheduled bid date + 1 day and the club defaults, he will be replaced with another member to continue the club. The investor can get the invested amount refunded (after deducting penalty/commission if any) by writing to the Money Club support team through the Help section of the Money Club app.
In case of pilot clubs, if any member fails to make the payment within 18 hours from the bid start time, he would be considered to have defaulted at the platform.
Replacement of members (in case of default):
- Borrower default: If someone defaults in his/her club after winning the pooled amount, he/she will be replaced with one of the Money Club team members who will make the payment for the current and the subsequent rounds in that club.
- Investor default: If someone defaults in his/her club without winning the pooled amount, he/she will be replaced with another verified member who will make the payment of the previous rounds of that club to the Money Club and will complete the payments for the current and the subsequent rounds in that club.

In the worst case scenario, the Money Club will take the following actions:

Initiate the recovery protocol– “Notices of default” with a 3-Level escalation will be sent to the defaulters email and physical address to allow the Money Clubber some time to respond and clear his dues. This may be supplemented with a physical visit.
Penalty & Interest– The defaulter has to pay a penalty (subject to change) as well as interest @ 1% of the due amount per day starting from the date we start the recovery process.
Make calls to your contact list– If no affirmative response is received from the defaulter then the debt recovery team will call the defaulters contacts to convince the defaulter to repay the amount.
Issue a legal notice to the defaulter– If no response is received from the defaulter even after this, a legal notice will be sent asking to repay the debt before a certain date or else a legal case will be filed against him. Post that a civil suit will be filed against the defaulter in the court of competent jurisdiction and a court case will be initiated thereafter.

10. Saviour Clubs

These clubs are available exclusively to eligible users in accordance with the company's policies.
Eligible users can request to join a Saviour Club from the Money Club app for completing their pending transactions in a specific round of an existing ongoing money club (parent club).
Money Club team reserves the right to approve or decline a user’s request to join a Saviour Club.
Once your request to join a Saviour Club is approved by the Money Club team, you will receive a Saviour Club invitation in the Money Club app.
After accepting the Saviour Club invitation, a club owner will be assigned to complete your pending transaction in the specified round of the Parent Club for which you requested to join a Saviour Club.
If you have joined a Saviour Club for getting your transactions completed in a round of your parent club, then you will not be allowed to complete your pending transactions in that round of the parent club. These transactions will be completed by the club owner of the Saviour Club.
Bidding in Round 1 of Saviour Clubs will be completed immediately upon club creation. If you have joined a Saviour Club, you will be declared the bid winner in Round 1. However, the club owner of the Saviour Club will transfer the contribution amount to the bid winner of your Parent Club for the round in which you requested to join the Saviour Club.
As soon as the bid winner of the specified round in the Parent Club accepts the transaction made by the club owner, the Saviour Club will progress to Round 2. In Round 2, bidding will be completed immediately upon the club's advancement, with the club owner being declared the bid winner.
You get 30 days to transfer funds to the Club Owner in round 2 of a Saviour Club.
You must transfer the full repayment amount to the Club Owner in Round 2 of a Saviour Club. The repayment amount is specified in the Saviour Club invitation within the Money Club app.
In addition to the repayment amount, you are also required to pay a commission to the Money Club in round 2 of a Saviour Club, which consists of two components:
- Any pending penalty amount in the Parent Club for the round in which you requested to join the Saviour Club.
- Club Commission, as outlined in the Club Commission table available in the Saviour Club invitation within the Money Club app.
In the worst-case scenario, if you fail to complete your transactions in the Saviour Clubs within the 30-day deadline, you will be classified as a defaulter on the Money Club platform and placed under the recovery protocol.
It is recommended to use a Saviour Club only in times of crisis, as it may affect your weighted average transfer time, which influences your Money Club commission percentage.

Bidding rules

01. Minimum bid amount

The minimum amount that the first bidder can bid with will be 1% of the club amount rounded up to a rupee. If the club amount is Rs 50,000, then the minimum bid amount will be Rs 500.
Bid amount is Rs 0 for final round and priority round.

02. Maximum bid amount

The maximum amount that any bidder can bid in a round can be 40% of the club amount rounded up to a rupee. If the club amount is Rs 50,000, then the maximum bid amount can be Rs 20,000.

03. Minimum bid increment

It is the minimum difference between two consecutive bids.
Bid increment is Rs 100 (fixed) for –
- Weekly, Fortnightly and Monthly clubs
- where the minimum club amount is Rs.1000 and the maximum club amount is Rs.20000
Bid increment is 0.5% of the club amount for –
- Daily and 3 Days clubs
- all the clubs where the club amount is lesser than Rs.1000 or greater than Rs.20000

04. Commission

All users are required to pay a Commission to the Money Club upon winning a bid in any club.
Commission to be paid to the Money Club, comprises of:
1. User Commission - User Commission of every user is calculated based on these three performance metrics - Real clubs closed, Amount Transacted So Far (in INR) and Weighted Average Transfer Time (in Hours). Therefore, the User Commission can differ from one user to another according to their performance on the Money Club platform. Better the performance, lower the User Commission. The calculation of the User Commission is clearly displayed in the Money Club app.
2. Dynamic Club Type Commission - This is in addition to the User Commission and may vary depending on the type of club and the specific round within a club. The applicable charges are clearly displayed in the Money Club app.
3. GST on Commission - GST (@18%) is applicable on the total commission payable to the Money Club. This tax is added separately over and above the User Commission and the Dynamic Club Type Commission. The GST amount applicable for each club and round is clearly displayed in the Money Club app. This is applicable to all types of clubs on the Money Club platform.
In the Lucky Draw Priority Clubs, bid winners in each round will be charged a flat commission which will be displayed in the app.
In the other Priority Clubs and the Samriddhi Clubs, both the User Commission and the Dynamic Club Type Commission will be applicable.
The commission for the Pilot Clubs is a flat commission which will be displayed in the app.
Please review the commission details thoroughly before accepting any club invitation in the Money Club app.

05. Bidding

Every member is eligible to win the bid in one of the rounds.
A member cannot bid if he/she already won the bid in a previous round.
The member who bids the highest wins the round.
Winner will transfer commission to the Money Club.
Rest of the club members share bid amount equally and transfer ((individual contribution amount – (winner’s bid amount/(club size -1))) to the winner.
In all cases the amount is rounded up to a rupee with a minimum of Rs.1.
Auto-bid: As per this feature, if no one places a bid in the first 2 minutes of the bidding duration, the system will randomly pick a member eligible for bidding and place a bid of INR 0 on his/her behalf. For Power Money Clubs, the Auto-bid value is ₹(total rounds in the club - 1).
The last round does not involve bidding.
For Priority Clubs, the club owner gets to choose a round that he can pick the amount without bidding for it.
For Lucky Draw Priority Clubs, no bidding will take place in any round. Winners will be selected at random in each round, with the club owner automatically winning the first round. The auto-bid percentage for each round will be 0%.

06. Fund Transfer Rules

Once the bidding is complete, the app will compute and show the amount that each member has to pay to the winner.
Golden Rule: All the club members should complete their transaction and update it on the app within an hour from the end time of bidding. Members following this rule build a reputed transaction history on the platform and gain more benefits.
The winner has to transfer commission to the Money Club bank account as calculated by the app
Other members will have to transfer their contribution amount – (bid amount/(club size-1)) to the bid winner.
The app requires each member to update the transaction ID (UTR number or reference number) of the transaction on the Money Club app so that the winner can check and confirm the receipt of funds.
The Club can be moved to the next round only after all fund transfers are updated/confirmed by the club members.
All members of the club will receive courtesy reminders about the pending transactions both through the app notification, SMS and email, however members should ensure to transfer the amount right after the bidding is complete.
If any member does not complete his/her transaction for the current round in any of his clubs before the scheduled day of bidding for the next round, we give additional time to that member and he/she can complete his/her transaction before 6 PM the next day and avoid defaulting on the platform.

07. Removal From Club

The Money Club team has the authority to remove any member from a club at any point of time if the member is found guilty of any fraud or misconduct or does not adhere to the rules of the Money Club platform.

Power Money Clubs

NBFC-powered Power Money Clubs on Money Club (“Platform”) are facilitated by a RBI registered Peer-to-Peer NBFC (“NBFC Partner”).
The Platform serves solely as a technology and service provider; all lending-related actions are undertaken by the NBFC Partner.
All transactions for NBFC-powered clubs are routed exclusively through a designated escrow account maintained by the NBFC Partner and its banking partner.
Participation requires mandatory KYC, risk checks, and any additional verification as prescribed by the NBFC Partner. Approval or rejection of users is at the NBFC Partner’s sole discretion.
Bid winner will become borrower and must sign a Loan Agreement via mobile OTP for each winning bid and pay Processing Fee and Club Management Fee.
Users must pay GST on processing fees, collection fees, and any other applicable charges.
Complaints or disputes related to NBFC-powered clubs will be handled under the Platform’s grievance redressal mechanism
Users are also bound by the NBFC Partner’s specific Terms & Conditions, policies, regulatory disclosures, and operating RBI guidelines applicable to P2P lending.

Collection Fee for delayed transactions in Power Money Clubs

Users will need to pay a collection fee in case their transactions are delayed and done after the end of the next day from the bid end time.
Collection fee (without applicable GST) is as per the below table:

Club Amount (₹)	Collection Fee Start Amount (₹)	Collection Fee Increment per 6 hours (₹)
50000	80	80
40000	70	70
30000	60	60
25000	50	50
24000	45	45
20000	45	45
18000	45	45
16000	40	40
15000	40	40
12000	35	35
10000	30	30
8000	30	30
6000	30	30
5000	30	30

Maximum collection fee will be 80% of the individual contribution amount.
Collection fee will be collected by NBFC P2P in escrow account along with contribution amount and the bid winner will get 30% of the collection fee in the Vault section of the Money Club app as soon as it is received from the sender.
All club members give their consent to abide by this collection fee structure if they accept their invitation to join a money club.
The bid winner will get the collection fee share as credits in the Money Club Vault. These Vault Credits can only be utilized within the Money Club to pay processing fee to NBFC.

Default In Power Money Clubs

A user is declared a defaulter if he/she fails to complete a scheduled transaction in the club at the specified date and time shown in the app.
The due amount includes:
- All present and future payment commitments in the club/s.
- Applicable collection fees for delayed payments & penal interest.
If a net investor (who has not won any club amount) fails to complete his/her payment before the specified date and time shown in the app:
- He/she will be replaced by an incoming investor.
- The outgoing net investor will get a refund of the invested amount when the incoming investor wins the bid.
Borrower default (after winning club amount):
- The Club Manager will pay on behalf of the defaulter for the current and all remaining rounds.
Investor default (before winning club amount):
The defaulter is replaced by another verified member who will:
- Pay for the pending rounds, and
- Continue payments for the future rounds.

Recovery Protocol (Worst-Case Action)

A 3-level escalation of default notices will be sent via email and physical address; may include a physical visit.
A collection fee (as applicable) + penal interest @ 0.1% per day on the due amount starting from initiation of recovery.
If there is no response, the recovery team may contact the user’s saved contacts to urge repayment.
A legal notice will be issued. If unpaid, a civil suit may be filed in the appropriate court.
Default information will be reported to RBI-registered Credit Information Companies (CICs).

General

01. Eligibility criteria for users

No individual under 18 years of age should be allowed to register on the platform.
You may use our services only if you are legally permitted to do so under applicable laws.
You should be an Indian citizen and resident.

02. Usage of platform

You shall use the Services only for your lawful and personal use. You will not use our Services for any purposes not permitted under applicable law and these Terms.
You agree to not interfere with or use non-public areas of our App and our technical delivery system. You will not introduce any trojans, viruses, any other malicious software, any bots or scrape our App for any user information. Additionally, you will not probe, scan, or test the vulnerability of any system, security or authentication measures implemented by us. If you tamper or attempt to tamper with our technological design and architecture, we may terminate your Money Club account. We may further report such actions to the appropriate law enforcement authorities and initiate legal actions.
You shall not use the App or the Services for committing fraud, embezzlement, money laundering or for any other unlawful and/or illegal purposes. Further, although we may, from time to time, monitor or review any facilities, if established or otherwise offered on the App for discussions, chats, transmissions, and the like on the app, you are prohibited from posting or transmitting any unlawful, threatening, libelous, defamatory, obscene, scandalous, inflammatory, pornographic, profane material or any material that could constitute or encourage conduct that would be considered a criminal offense, give rise to civil liability, or otherwise violate any law. We are under no obligation to do so and assume no responsibility or liability arising from the content of any such locations nor for any error, defamation, libel, slander, omission, falsehood, obscenity, pornography, profanity, danger, or inaccuracy contained in any information contained within such locations on the App. We will fully cooperate with any law enforcement authorities or court order requesting or directing us to disclose the identity of anyone posting any such information or materials.

03. Cancellation and Refund Policy

If you wish to quit from any money club without completing it or if you wish to cancel your subscription from any money club provided you have not picked up funds in any round of the club, you may write to us on support@themoneyclub.in and your funds will be refunded to you within 10 working days of receipt of request (after deducting penalty/commission if any).
If a net investor (someone who has not picked up the club amount in his/her money club/s) fails to complete his transaction in his/her money club/s before the next scheduled bid date + 1 day and the club defaults, he will be replaced with another member to continue the club. The investor can get the invested amount refunded (after deducting penalty/commission if any) by writing to the Money Club support team through the Help section of the Money Club app.
A Refund Request will be deemed valid only if it is made through an email to support@themoneyclub.in
Refunds shall be made to bank account within 10 working days of receipt of request.
The customer shall ensure that all information provided by the customer is true and correct, including UPI ID or bank account or other details provided for refund. Money Club shall not be liable for any issue arising from incorrect information provided by the customer.

04. Disclaimer

For the cases where Money Club offers a technology platform for the users to connect with each other to Save and Invest money: Money Club is a technology platform which enables the users to connect with other users across the country to join groups and Save or Invest money. The Company provides the services of connecting users via Money Clubs and does not facilitate any financial transactions between any of the users in any manner. It provides match-making service where the matches users having different profiles to join the group and make the most out of it.

You fully understand and agree that Money Club only facilitates a virtual meeting place between the Users on its online platform. The decision to conduct financial transactions with other users is entirely at the discretion of the User and MoneyClub does not guarantee that the Users will successfully complete the financial transactions as per their understanding with other Users.

You fully understand and agree that Money Club provides a technology platform that enables users to form closed clubs within which they can Save, Invest and borrow money more efficiently among themselves totally at their own risk.

The User acknowledges and confirms that he/she is well aware of the rules & regulations and the risks involved in services offered by the Company. Changes are periodically added to the information herein.

The Company may make improvements and/or changes on this platform at any time. We will not be responsible for any data accessed / mis-utilized by unauthorized use of the platform by third party due to user’s neglect or due to allowing access to personal data to third party intentionally or unintentionally.

The Company will not be involved in any financial handling. The user hereby agrees not to raise any claim or dispute against the Company and its directors, officers, employees or agents against any breach of law which is done by user or money changers which is beyond the control of the Company.

No legal right is there to any member or user of the platform to raise dispute against the Company. The Company shall have the absolute discretion to amend or supplement any of the Terms at any time. We may communicate the amended terms by hosting the same on the platform or in any other manner as decided by the Company. The user shall be responsible for regularly reviewing these terms including amendments thereto as may be posted on the platform.

05. Suspension or Termination of Services

Money Club may, at its sole discretion, suspend / disallow / modify / restrict all or any of the facilities offered under the App or deny access to the App to any specific user at any time and for such time period and for such reasons as it deems fit, including on account of inactive/dormant user ID, non- compliance of these Terms, death, insolvency, or bankruptcy of the user, any restriction imposed by any legal/judicial/regulatory authority, or for any other cause arising out of the law/regulation or for such other reasons as we may deem fit.

Money Club shall be entitled to withdraw or terminate all or any Services without assigning any reason whatsoever, without any prior notice to the user. We shall not be liable for any loss or damage that may be sustained by any user on account of such suspension / withdrawal / termination by Money Club.

06. Indemnity

You shall indemnify and hold harmless the Company, its owner, licensee, affiliates, subsidiaries, group companies (as applicable) and their respective officers, directors, agents, and employees, from any claim or demand, or actions including reasonable attorneys’ fees, made by any third party or penalty imposed due to or arising out of Your breach of this Terms of Use, Privacy Policy and other Policies, or Your violation of any law, rules or regulations or the rights (including infringement of intellectual property rights) of a third party.

07. Limitation of Liability

In no event shall the company be liable for any special, incidental, indirect or consequential damages of any kind in connection with these terms of use, even if user has been informed in advance of the possibility of such damages.
The Company (including its officers, directors, employees, representatives, affiliates, and providers) will not be responsible or liable for any injury, death, loss, claim, act of god, accident, delay, or any direct, special, exemplary, punitive, indirect, incidental or consequential damages of any kind (including without limitation lost profits or lost savings), whether based in contract, tort, strict liability or otherwise, that arise out of or is in any way connected with (i) any failure or delay (including without limitation the use of or inability to use any component of the Website), or (ii) any use of the Website or content, or (iii) the performance or non-performance by us or any provider, even if we have been advised of the possibility of damages to such parties or any other party, or any damages to or viruses that may infect your computer equipment or other property as the result of your access to the Website or your downloading of any content from the Website.
The platform may provide links to other third party websites. However since the Company has no control over such third party websites, you acknowledge and agree that the Company is not responsible for the availability of such third party websites, and does not endorse and is not responsible or liable for any content, advertising, products or other materials on or available from such third party websites. You further acknowledge and agree that the Company shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such third party websites.

08. Dispute Resolution and Governing Law Provisions

Without limiting the foregoing, under no circumstances shall we be held liable for any damage, loss, loss of services of App, due to deficiency in provision of the Services resulting directly or indirectly from acts of nature, forces, or causes beyond its reasonable control, including, without limitation, internet failures, computer equipment failures, telecommunication equipment failures, or any other government regulations, floods, storms, electrical failure, civil disturbances, riots.
These Terms shall be governed by and interpreted and construed in accordance with the laws of IndiThe place of jurisdiction shall be exclusively in New Delhi.
You fully understand and agree that any dispute arising out of or in connection with this Agreement, including any question regarding its existence, validity or termination, shall be determined by alternate dispute resolution mechanisms, including Arbitration and / or Mediation in accordance with the Indian Arbitration and Mediation Laws in force at the commencement of the dispute resolution proceedings. To fully understand our dispute resolution procedure, please contact us at support@themoneyclub.in or +91 7289822020 between 9:30 am to 6:00 pm IST from Monday to Saturday.
If any provision of these Terms is held illegal or unenforceable, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. Any such provision held invalid, illegal or unenforceable shall be substituted by a provision of similar import reflecting the original intent of the parties to the extent permissible under applicable laws.
We reserve the right to change, modify, add to, or remove discounts, portions of these Terms at any time, subject to the policies of the Company and applicable regulations.
You shall not assign or transfer any right or obligation that has accrued to you under these Terms, and any attempt by you to assign or transfer such rights and obligations, shall be null and void. We may assign or transfer any right or obligations that accrued in our favour, at our sole discretion, without any restriction.