kameti
Saykuh-MAY-tee/kəˈmeɪti/
Pluralkametis
- 1A group money-saving plan where members pay in each month and take turns getting the whole amount.
Like a shared piggy bank where each person gets to keep all the coins on their month.
My mother joined a kameti to save for a new fridge.
Every month she pays into the kameti and waits for her turn to collect.
Note
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Origin
It comes from the Urdu word کَمیٹی (kameṭī), which came from the English word "committee."