Startup Idea : Zero interest bank by public

Online service from people to people to give each others loans away from greedy banks. For example; if I need 1000$ loan, I can meet up with 10 people to pay 100$ per month per person and every month one of us receives the 1000$ and so on. This loan will take 10 months and zero interest. The system can decide randomly who will receive the loan first or via algorithm. Anyone who needs a loan can launch a loan opportunity on the site/app and people can participate based on their need. The company can earn money by placing a one time small fees. This will help people and save their money.