A daret is a long-standing, informal savings practice between people who trust each other. It is a private arrangement among members, not a bank product.
A daret is members pooling their own money and taking turns receiving the pot. No interest is charged, no third party lends money, and no one profits from fees on the contributions.
Darret is software that helps members organize and track their daret: verifying identities, recording payments, and keeping the rotation transparent. Darret does not hold, move, or custody money. Members pay each other directly by their own chosen method.
Because Darret never takes possession of members’ funds, it acts as an organizer and record-keeper for a private savings circle, not as a financial institution handling deposits.
This page explains how a daret and Darret work in plain terms; it is not legal advice. For your specific situation, consult a qualified professional.