Can I break the lock-in period before it ends?
Yes, you can break the lock-in period before the allocated duration ends. However, a penalty fee will be deducted from your locked funds for early withdrawal.
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What happens when my lock-in period is completed?
Once the lock-in period is completed, you will receive a notification. You can then choose to withdraw your funds to your main wallet without any penalty fees.
Can I see the interest rate before I lock my funds?
Yes, the interest rate corresponding to each lock-in period (3 months, 6 months, 1 year) will be clearly displayed in the app before you confirm the lock.
What are the available lock-in periods?
You can choose to lock your funds for 3 months, 6 months, or 1 year. Each duration comes with a specific interest rate set by our third-party provider.
What is the minimum amount I can lock?
The minimum amount you can lock in the Savings and Investment feature is ₦50,000.
What is the Savings and Investment feature?
The Savings and Investment feature allows you to lock funds for a chosen duration (3 months, 6 months, or 1 year) through a third-party provider via our mobile application. In return, you earn a predetermined interest rate on your locked funds.