What is Draw day? How does it work?
This is the exciting bit!
Every month on the 7th of the month it's Draw Day at Carbon HQ. One Member of each Circle is selected at random to be awarded the Total contribution.
You will be sent an email to check their customer dashboard.
How does the draw work - Draw logic
Random draw among eligible participants in each Circle.
Eligibility: All participants who are up to date with their payments and have not already been drawn are eligible to be drawn
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How does the draw work - Draw logic
Random draw among eligible participants in each Circle. Eligibility: All participants who are up to date with their payments and have not already been drawn are eligible to be drawn
I’ve been drawn today, when will I get my money?
Congratulations on being drawn! After the draw day happens on the 7th day, the payout happens on the 8th of the month and they will be automatically deposited into your account.
Carbon Circles
What is Carbon Circles? Carbon Circles is a digitized monthly contribution otherwise known as Esusu or Ajo. It allows you save funds monthly and you are matched with different people who also have the same financial goal as you. On the 7th day of ...
Is there a fee for loan reschedule?
Yes, there is an upfront fee: A fee of N2,500 will be charged for a 7-day reschedule. A fee of N5,000 will be charged for a 14-day reschedule.
Is there interest in funds saved in my Carbon account ?
There is a 1% annualized interest on the cumulative funds saved in your Carbon account which is paid out on the 1st day of every month.