Member must have an active Daily Contribution Account (DCA).
Customers must run the Daily contribution account for a minimum period of two (2) weeks to be eligible. The maximum Loan Disbursement is NGN 250,000.00.
The interest rate is 8% flat per month.
Tenor: Maximum of 24 months.
Loan repayment shall be on a weekly basis.
The grace period shall be one week.
The customer must provide an equity contribution equivalent to 10% of the Loan Amount.
Security: Member must provide one (1) verifiable Guarantor.
Grace period shall be one week for weekly repayments Member must provide equity contribution equivalent to 10% of the investment (Jari) amount
Profits on investments (Jari) shall be shared between the member, investors, and Gemstone MCS. Member share of profit is 20% Investors' share of profit is 43% Gemstone's Share of profit is 37%.