All Canadian residents with a valid SIN (Social Insurance Number) are eligible.
Yes you can enroll in multiple plans, however you are allowed only 1 spot per plan.
All investments are 100% safe and are backed by Committi’s guarantee.
Yes, it is a hard pull on your credit. This is to qualify all the borrowers and investors and to ensure that all your investments are safe.
All eligible members of the plan will be able to bid online at a set Date/Time of the each bidding cycle(s)
In order to guarantee all investments, we might have to restrict some member(s) to bid until a Committi reaches certain number of bidding cycles.
Bidding is optional.
In order to win, you must be the lowest bidder at the end of bidding or you can win and end an auction by clicking the Win Bid Now button or if there are no bids in an auction, then the winner will be selected randomly from one of the eligible members of the plan.
Winner pays a one time Committi fee, which is 5% of the total plan amount.
You will be charged a late fee in addition to interest on any outstanding balance. Also we might put bidding restrictions in all future auctions.
Please refer to Plan info as interest rates may vary.
Any surplus will be evenly distributed amongst all Plan members.