I don’t understand the Circles product. What is a Circle? How does it work?

I don’t understand the Circles product. What is a Circle? How does it work?

Overview

Carbon Circles is a digital ajo that helps you reach your financial goals faster where everyone contributes the same amount each month. Every month one person in the Circle is awarded the total. Everyone continues to contribute the same amount each month and this repeats every month until everyone has received their savings total. 

We offer five different circles with varying amounts, monthly payments, and terms. Below are the details of each circle to help you choose the one that best suits your financial needs.

Circle Options

  1. Circle Amount: N30,000

    • Monthly Payment: N5,000
    • Term: 6 months
  2. Circle Amount: N60,000

    • Monthly Payment: N10,000
    • Term: 6 months
  3. Circle Amount: N150,000

    • Monthly Payment: N12,500
    • Term: 12 months
  4. Circle Amount: N200,000

    • Monthly Payment: N25,000
    • Term: 8 months
  5. Circle Amount: N600,000

    • Monthly Payment: N75,000
    • Term: 8 months

How It Works

  1. Joining a Circle

    • Select the circle that fits your financial capacity and goals.
    • Complete the registration process through our platform.
  2. Monthly Payments

    • Regular pay-ins are processed on the 1st of every month.
    • Ensure your account is funded to avoid missing any payments.
  3. Draw Payouts

    • Each month, one eligible user will be randomly selected to receive the draw payout.
    • Payouts are made automatically on the 8th of every month.
  4. Catch-up Payments

    • If you miss a payment, catch-up attempts are made on the 6th and 15th of the month.
    • Ensure your account has sufficient funds for these catch-up attempts.
    • You can also trigger a self catchup payment on your dashboard

Additional Information

  • Security: Your contributions are securely handled through our platform, ensuring your funds are safe.
  • Support: If you have any questions or need assistance, please contact our support team via email or through our support portal.

Frequently Asked Questions

Q1: How is the draw payout determined?

  • The draw payout is randomly selected from eligible users on the 7th of each month and processed on the 8th.

Q2: Can I withdraw from a circle before the term ends?

  • If you choose to withdraw, you will be marked as a drop-out and can only retrieve your contributed funds at the end of the circle term.

For more detailed information and assistance, please visit our support page or contact our customer service team.




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