Frequent Asked Questions

FAQ 1. What is SeedersHub all about?
Seedershub is an initiative platform with earning opportunity, savings and loan accessibility for participants as an established multipurpose cooperative society platform. Seedershub gives you not just the opportunity to earn and invest but to improve members saving culture and regularly invest through its automated and easy-to-use platform online. Your savings also generate interests as dividends up to 18% per annum, till when you decide to cash out your savings.

FAQ 2. What is the benefit of joining a cooperative society?
There are several benefits of joining a cooperative society includes;

  • Earning interest as dividends on savings
  • Obtaining a loan up to twice the amount of consistent savings as a cooperative member.
  • Enabling members’ to gain access to loans/credit without collateral.
  • Competitive low-interest rates, performance rewards and
  • Products at more affordable prices including food items and gloceries.

FAQ 3. How are you able to offer higher returns than traditional banks?
It's simple; we do not have the high-cost base of traditional banks. Our operations are mostly online both meetings and seminars except annual general meetings, Seedershub is driven by our proprietary technology system. We do not only give loans to earn interest, but we also invest funds in a risk-free and profitable business and a few low-risk investment opportunities. These cost savings are credited to our members in the form of higher returns and dividends of 18% per annum.

FAQ 4. Why should I participate and save on SeedersHub?
Seedershub is suitable for anyone who understands what it means to sow a seed and water it to grow more fruit. Also, if you never want to miss your savings and investment goals or wish to save and invest even while you are sleeping, then consider joining Seedershub.


FAQ 5. Is there any fee to be paid before joining?
Yes, a non-refundable membership fee of Three Thousand, One Hundred Naira Only (₦3,100) must be paid during registration processes either via online payment using your card or using voucher epin purchased from Seeders verified agent.


FAQ 6. How do I join?
Click here to join or click "My Account" from the menu.


FAQ 7. How long can I keep my savings and investment with SeedersHub?
You can keep your savings and investment on SeedersHub for as long as you wish. We make everyday count by making your plans to earn returns daily. You can always login to your dashboard daily to confirm your returns anywhere you are using your mobile phone.


FAQ 8. How much can I save on SeedersHub?
You can start your savings and contribution starting from ₦1,000 (One thousand Naira). We do not have a max limit. If you have a billion Naira you want to save with us? Feel free.


FAQ 9. Can I increase my savings at any time?
Yes, you can increase the amount you're saving at any time or consistently have a contribution plan either weekly or monthly which will favour your loan request and performance for future rewards.


FAQ 10. Can I make a cash deposit into my savings?
Yes, once you become a member and activate your account, your Seedershub bank account number will be generated for you in partnership with Providus Bank Limited. You can make transfer or deposit to your Seedershub account and it will reflect on your Seedershub wallet for saving automatically.

FAQ 11. Does my investment earn interest daily?
Yes, your savings/investments generate interest daily.


FAQ 12. What's the interest rate or return on savings/investment?
Your savings/investment on SeedersHub earns you an 18% interest per annum.

FAQ 13. What is the management fee?
One-third of your membership fee, which is ₦1,000, serves as a management service fee.

One third affiliate commission = 1k: Paid to whoever that referred you to SeedersHub. You will also get paid this same referral commission when you refer people to join SeedersHub Cooperative in multiple times as we have an industrial state of the art affiliate system setup for you to earn more money with us.

One-third first saving/investment fee with 18% profit annually = 1k: Paid daily, weekly, monthly, or yearly peradventure you don't wish to apply for the first starter loan or not eligible for loan approval yet. You can as well save/invest more to earn more returns as a cooperative member.


FAQ 14. When does my saving begin to earn returns?
Right from the moment you register and get activated.


FAQ 15. How many dividends will I receive?
The dividend is dependent on the Surplus declared during the accounting period starting from %18 annually with interest credited to your wallet daily. However, dividend due to each member is based on the savings balance of the particular member and the amount of loan repaid during the year under review.


FAQ 16. How do I make payment of my contributions and dues?
You can make a contribution and savings by funding your wallet through transfer to your Seedershub bank account with Providus bank.

FAQ 17. Who is a fund manager?
The fund manager is the professional who oversees the money saved/invested in a cooperative; to ensure it earns more money. Importantly, they are always registered with the Securities and Exchange Commission.

FAQ 18. How secure is my information?
Seedershub is developed with the security of your payment data in mind. Critical member's data is encrypted and securely stored. We do not store your card information as we work with the Paystack company — a PCI-DSS-compliant payment processor to handle all our members’ card details. The PCI-DSS is a standard guide, globally, that all reputable payment processors must adhere to. And also in partnership with Providus Bank Limited for banking services.


FAQ 19. How safe is my money?
In addition to membership loans and investing your money in risk-free instruments, we also invest funds in a risk-free and profitable business and a few low-risk investment opportunities. So you should rest assured that your money is safe and your returns are guaranteed while you even gain access to your money at any time through withdrawal to your bank account or using your Seedershub prepaid debit card.

FAQ 20. When can I withdraw my money?
You can choose to withdraw some or all of your savings together with interests at any time while you must have at least N1,000 in your savings as a cooperative member to keep your account valid and running. Whenever you withdraw your fund, your interest or dividends will stopped, when your fund is saved with us, your interest or dividends continue.

FAQ 21. How safe are my debit card details with SeedersHub?
We make use of Paystack payment processors, which is PCI-DSS compliant, to ensure all delicate data are encrypted and rendered unreadable.

FAQ 22. Is Seedershub regulated by the CBN or protected by the NDIC?
Seedershub is not a bank but in partnership with Providus Banking Limited and it is duly registered and licenced under SECTION 6 CHAPTER C14 of the Cooperative Society Law of Lagos of Nigeria 2015 with registration number LSCS 17122.

FAQ 23. Why does SeedersHub require my debit card details?
Either online payment during registration or any automated transactions online in your account are done using your debit card if chosen to register from the first step with an online payment option.


FAQ 24. When do I qualify for a loan?
Members are qualified for a loan after 6 months of membership with consistent savings and accurate data as required. Your activeness, performance and the timely payback will also determine subsequent loans approval.

FAQ 25. What type of loan do you give?
Personal and Business

FAQ 26. How can I be eligible for a loan?
Your age should be between 18 and 40 years
You must have a savings or current bank account
While you must be a member for at least 6 months, any of the following terms determine your loan eligibility;
1. Your savings and consistency. OR
2. Your referral strength and performance in the platform growth. OR
3. Your profile and administrative decision with available funds to determine your loan approval.


FAQ 27. How soon can I apply for another loan after fully repaying a loan?
You can apply immediately.


FAQ 28. Is there interest paid on loan? and what is the interest rate charge?
Yes, there's interest paid on loan. The Cooperative charges a flat rate of 5% interest rate on all loans per month.

FAQ 29. Can I use the deposited cash to access the loan immediately?
No. Deposits into the savings account can only be used to access loans after consistent savings for up to at least 6 months membership.


FAQ 30. How much loan can I get as a cooperative member?
Members can get up to 200% of their savings balance as a loan once they qualify for it, i.e., if you have 50k, you can get 100k as a loan, provided the applicant can pay-back within the stipulated maximum repayment period for the type of loan being applied, without taking into consideration overtime payment.

FAQ 31. If I pay up my loan through a cash deposit, can I apply immediately?
Yes, you are allowed to apply for a new loan as soon as you offset the former loan collected.


FAQ 32. How can I pay back my loan?
We make loan repayment very easier and flexible; you can pay an installment, you can refer more people to use your commission to pay back. You can also fund your wallet to pay back by making a transfer to your Seedershub bank account number.


FAQ 33. How long does it take for my loan to be credited?
You will receive your loan within 24 hours of loan Validation if approved. Kindly check your loan status from your dashboard after 24 hours to see reason in case your loan is not approved


FAQ 34. Why is my loan application declined?
When your loan request gets declined, you should receive email notification with the reason why your loan gets declined.

A loan application can be rejected due to a number of reasons such as:

  1. Member does not have enough available data for proper evaluation.
  2. Member owes another lending platform.
  3. Member has a bad loan history.
  4. If the system discovers any form of data falsification.
  5. Member does not meet our lending criteria.
  6. Incomplete profile
  7. Not uploading a suitable and recommended ID card.
  8. Not having a consistent saving plan such as weekly savings or monthly with a certain amount.
  9. Not an active member for up to 6 months.


FAQ 35.  Why do I have to add my BVN?
Your BVN is required to validate your identity and kick against identity theft. This ensures another level of safety for your funds and transactions.

FAQ 36. What if I no longer have access to the phone number linked to my BVN?
In a situation where you no longer have access to the phone number linked to your BVN, kindly contact your bank to update the phone number.


FAQ 37. Who do I contact when I have a complaint?
You can use our WhatsApp live chat with customer representatives, check the bottom of this page for official contact or via any of our verified agents in your city.


FAQ 38. Where is SeedersHub's office located?
Our head office is located at 1A, Gbemisola Street, Ikeja Lagos. We host meet-up events to educate the public on personal finance; you should register to attend the next one.

SeedersHub is much more than a cooperative society platform but a modern FINTECH cooperative system. We bring you the financial services solution with top-drawer ways to earn more money and save more while you also get a low-interest loan credit. SeedersHub Cooperative is duly registered and licensed with registration number LSCS 17122. Through the joint effort and network membership, following the vision 2020 and beyond of being a prime financial solution cooperative platform in Nigeria.

Payments and transactions on SeedersHub both paying in and out are carried out via Paystack, a PCI-DSS certified payment platform with bank-level security to ensure your transactions and financial information is kept safe at all times.

Head Office: 🇳🇬 1A Gbemisola Street, Off Allen Avenue, Ikeja Lagos Nigeria.

Contact: 08120389795 (Mon-Fri from 9am-5pm) SMS / Whatsapp: 08169787210 - [email protected]

© 2020 SeedersHub Multi-Purpose Co-operative Society Limited. All Rights reserved.