what is fortune club?

fortune club is a social commerce platform for all matter money. we are on a mission to discover ways to save money and improve financial access for everyone. improving financial literacy is one of our key goals.

what services does fortune club provide?

fortune club helps users discover ways to ‘save money’ by using the power of group buying. we do this by aggregating consumer demand and negotiating with suppliers for better rates and terms on their behalf. we are launching with loans as the first set of financial products. Subsequently, as we grow, we will continue to add more financial products i.e. investments and insurance.

fortune club helps users improve financial literacy. we do this by providing timeless insights and ideas from some of the world’s best minds in academia and industry. we want to make learning both fun and rewarding, so that ultimately everyone becomes better at work and home!

how do I get started?

simply sign-in using your google or facebook credentials and fill up the form with your details and we will get back to you at the earliest.

are there are charges to use your services? how do you make your money?

no, fortune club doesn’t charge users for the services provided on the platform. we make money from the commissions we receive from suppliers for each sale. you only pay for the products that we offer.

what is group buying?

group buying is when a group of individuals come together to buy a single financial product (loan or investment or insurance). We aggregate consumer demand for the product and then take the combined pool to financial institutions, who then bid for our business. once the bids are placed by the financial institutions, we negotiate the terms to determine the best offer. once this process is completed, we present the offer to users and they can choose to accept or decline the offer.

why will financial institutions (suppliers) be interested in your proposition?

financial institutions are in the business of making and selling financial products. fortune club helps these financial institutions by providing them aggregated demand for a single product on a consistent basis, so that they can save on their marketing and product costs. this makes it a win-win proposition for both parties.

how do I earn rewards from fortune club?

there are many ways for users to earn rewards. Users earn limitless rewards for (1) inviting friends to join groups, (2) referring new users to fortune club, (3) buying products on fortune club, (4) sharing content, (5) playing games and many more… we will continue to add new (social) features that will make it more rewarding experience for users.

how do I redeem my rewards? can I encash them?

users can use their rewards to purchase any product on FORTUNE club. this way users can reduce the price they pay for each product, making it cheaper to purchase and quite possibly the lowest price for the product in the market.

does fortune Club provide loans?

we only originate the loans for our lending partners. The actual loan is provided by the financial institution that makes the best offer for each loan product. We do both new loans and refinanced loans.

why should I get a loan from you and not directly from a bank/nbfc?

firstly, we encourage our users to go to their respective banks and explore the rates and terms being offered for the loan product they need. Then join a group on fortune club and see what rates and terms we can offer for the same product. only when you are satisfied that the product is better (we are confident in it being that) should you choose to use our services.

fortune club uses the power of group buying to aggregate demand for loans. we negotiate on your behalf for the best rates and terms on loans with banks and nbfcs. you can further save money by redeeming your rewards. we strive to make the process as smooth as possible with lesser paperwork, lesser processing time, lower bank fees and more…

which loan products do you provide?

we aim to provide all consumer loan products on our platform over time. At launch phase, we are starting with home loan and education loan. register on our website and we will keep you posted on new product launches. stay tuned.

what are the interest rates for each loan?

interest rates are decided solely by the bank or nbfc providing the loan. we do not influence or determine the rates.

how do I save when I procure loans on fortune club?

fortune club negotiates the charges and fees that the bank charges for each loan. we work with our lending partners to reduce the paperwork, processing times, disbursals, foreclosures etc. users can also redeem their rewards to make their loans cheaper. we save both your money and time!!

do I have to pay to be a part of the loan pool?

yes, you have to pay a token amount to confirm your interest in being part of a group. This amount will be refunded to you once the deal has been closed and after you accept the offer. if you decide to not accept the offer, the token amount is credited to your wallet. we do this to ensure that only genuine users who are interested in the product are part of the group.

what is fractional ownership?

several investors come together and pool in money to make a combined investment. the incomes or returns generated from this investment is distributed amongst this group of investors. by doing this investor earns returns for his contribution into the pool and thus has fractional ownership of the underlying asset.

for example, 1000 investors invest Rs 5000 to buy a property worth Rs 50,00,000. each investor will be entitled to receive 1/1000th of the income or returns generated by the property. making them 0.1% owner of the property; effectively giving them the fractional ownership of the asset.

what kind of products can I invest in?

we are building a curated investment marketplace, where investors can build a diversified portfolio across equity and debt securities. our-in house team screens the entire universe of 3rd party investment opportunities available to investors and presents them on the platform once they satisfy our internal criteria. some of the opportunities include but not limited to real-estate, p2p, leasing, startups, stock portfolios, high yield assets, US stocks, and more.

what is the minimum amount of investment required?

this depends from asset to asset. for some opportunities, you can invest for as low as ₹1 also, and for some the minimum amount can be much higher.

who can invest with your platform?

any Indian citizen who is 18 years of age and has a valid pan card can invest using our platform after completing KYC.

how are the investments structured for alternative assets?

for each opportunity, a specific purpose vehicle (SPV) in the form of a Limited Liability Partnership is created in which investors contribute their funds. as an investor, you will become a partner to this LLP and represent your investment. your partnership stake in the LLP will represent the amount of investment made by you. we handle responsibility for oversight, reporting, and management of this SPV on behalf of the investors.

how can I began investing?

you need to sign-in and add yourself to the waiting list. as soon as we launch, you’ll be contacted with amazing investment offers.

when will you launch?

our tentative launch dates are in Q3, 2021. add your name to the waiting list and we will let you know as soon as we launch.

tell us about the ‘learn’ initiative?

As part our mission to improve financial literacy, we present timeless insights and ideas from some of the best minds in the world. the content is a mix of book summaries of best seller non-fiction books, articles written by experts from academia and industry, masterclasses and much more, all targeted at consumers who are looking to get better at work and home.

we are committed to making financial education fun and inclusive and as an incentive, we will reward users who take the effort to educate themselves on our platform. We might perhaps be the only platform out there that rewards consumers for learning, but that’s how serious we are about it.

can I contribute to the learn platform?

yes, if you are someone who like to write articles, we encourage you to reach to us. only make sure that the article is aligned to our mission. if your article is approved by our content team, your article will be published on our platform and you also earn rewards for your work. The email to reach is publish@fortuneclub.co

how can I use the rewards earned?

you can use the rewards to make purchases on the website.