FAQ

DTCoop is a Digital Cooperative Society registered with the Lagos State Government and in the FCT. We are a unique Cooperative Society that helps Freelancers, Startups/SMEs, and other individuals to attain financial independence. We provide our members with a platform to develop a savings culture, access to loans, convenient asset acquisition, Rent-To-Own Scheme, work-life support, etc

No, you need to pay a non-refundable fee of NGN 5,000 to become a member.

Our bouquet of products and services that empowers our members and gives them financial freedom. Members’ access to cooperative services online and on your mobile devices. No paperwork, members’ ability to get loan approval in less than 24 hours, if they qualify. Members’ ability to save conveniently and at their own pace. Acquire assets with ease, grow your business without financial stress.

Novare Central, Shoprite, 502, Dalaba Street, Wuse Zone 5, Abuja

Although it is always our hope to have our members for as long as possible, we understand that we do not have control over how long they stay. DTCoop can permanently delete your account upon request from our Customer Support team. This process requires a notice period of between four and six months, as well as payment of all outstanding debt. This process cannot be reversed and is permanent

Absolutely. You can monitor ALL your transactions on DTCoop via your Dashboard.

Savings with DTCoop unlocks a world of financial solutions. Members of DTCoop have access to low-interest loans, your DTCoop savings gives you access to 200% of your savings balance, you can apply for an urgent loan, buy gadgets, phones, laptops, cars, etc on installments, etc.

DTCoop Savings is the compulsory monthly contribution by each member of DTCoop. This is the savings you borrow money against. You can borrow up to 200 percent of the balance in your DTCoop Savings. DTCoop Savings can start as low as N500 (Five Hundred Naira) daily. You can set up automated savings, where a certain amount is automatically deducted from your account daily, weekly or monthly.

No, you cannot withdraw your DTCoop Savings. However, you can apply to withdraw your membership and all your DTCoop Savings will be paid back. An administrative fee will apply. (see “Closing my DTCoop Account”)

“Save-4-It” is a High-yield savings product that allows you to LOCKUP an amount for that special occasion or event, project, holiday, school fees, annual religious retreats or events (like the Holy Ghost Congress, Shiloh, etc), et al. You decide how much you want to save and the duration. You get up to 15% per annum on your Savings

A member can set up a Peer-2-Peer Savings Group and invite other members to join. The creator of the Group or members can decide on the amount to save and the total number of months/members. Each month a member receives a payout of the total sum contributed by the Group. The interesting feature of this product is that members can use the Group’s balance to apply for a Group Loan from DTCoop.

National Housing Fund (NHF) is a Federal Government scheme, which entitles all Nigerians above the age of 21years with regular income to a low interest, government funded loan. DTCoop Members of the scheme are to contribute MINIMUM N10,000 monthly to the fund. With your NHF Contribution, you will be able to access a N15million loan to buy a unit of 3-bedroom flat or 4-bedroom semi detached dup

The most important requirement is to become a member, then you must have saved for 6 months. However, you can access loans as a new member, with higher interest rates and some terms and conditions.

You are entitled to a maximum loan of up to 200% of your cumulative contributions. If you have not been saving on DTCoop, your income will determine how much you can access

The loans are not collateralized but you need at least one guarantor to stand in for you when you apply for a loan.

There are different time frames for the repayment of different loans. Each loan type comes with its own interest plan and time frame for repayment.

A loan calculator is available on your dashboard to calculate the amount you ought to repay monthly

Yes, you can!

Unfortunately, no, non-members can’t apply for a loan at DTCoop. To be eligible for a loan with DTCoop, you have to be a member.

Members can serve as self-guarantors IF the loan amount is lower than 50% of the Balance in your DTCoop Savings, otherwise, you will need a Guarantor.

It is very dangerous to stand as a guarantor for a person/entity who is not well known to you.

You can stand as a guarantor for more than one person as long as your cumulative DTCoop Savings doesn’t exceed the amount you want to guarantee the parties.

You can become a Financial Member of DTCoop. Every financial member is an equity owner in DTCoop. Minimum equity ownership for any member is N10,000.00 payable within the first three month of membership. The equity can be up to N1,000,000.00 and dividend is payable for every profitable year, so we encourage members to own equity in excess of the minimum requirement. We have five (5) DTCoop

1. You become a co-owner of DTCoop, you can vote and be voted into the executive positions of DTCoop 2. You get dividends at our AGM for every profitable year 3. You have access to exclusive features of DTCoop

When someone signs up to DTCoop using your referral link and saves at least N5000 or buys any plan of the DTCoop Shares, you earn 10% of their FIRST Savings Deposit or Shares Purchase. This is paid into your Referral Earnings and is available for withdrawal.

On your dashboard, navigate to the referral program page and click on “Copy Referral Link” to share on any social media platform of your choice.

DTCoop members can top-up phone airtime, buy data, pay TV subscriptions, buy power units, etc. Unlike most other bill payment platforms, on DTCoop you get cash-back on bills paid. Every week, we pay back N2,000 for every N20,000 bill paid on DTCoop. Members of DTCoop can also vend JAMB, NECO and WAEC PINs from their Dashboard.

DTCoop is backed by safe and secure payment gateways with PCI DSS (Payment Card Industry Data Security Standard) certified. The highest security certification level.

DTCoop is not a bank. CBN regulates banks. DTCoop is an online cooperative society duly licensed and regulated by the Lagos State Government under the Cooperative Societies Act (2013) as amended. We are also registered in Abuja, registered with the Abuja Cooperative Federation and the National Cooperative Financing Agency of Nigeria (CFAN).