Savings Groups are small, community-based organizations where members come together to save money and provide loans to each other. Each member contributes a set amount regularly, which is pooled together. This collective fund can then be accessed by members in need of financial assistance, often at lower interest rates than traditional banks. These groups promote financial literacy and encourage saving habits among participants. They also foster a sense of community and support, as members often share advice and resources. Savings Groups can be particularly beneficial in areas with limited access to formal banking services.