Spark Moni is an innovation of CST Global Cooperative; it is a finance and insurance management scheme.
Spark Moni provides a guaranteed platform where saving is secured and earning is sure. Earn up to 4.5% interest on savings. Access emergency loans up to 50,000 Naira.
A Spark wallet account can be opened by anyone with a minimum deposit of 100 Naira, with no limits on deposits.
Spark wallet includes daily, weekly, bi-weekly and monthly saving. Customers can make withdrawals from their account anytime but with a 24hours prior notification.
A Spark fixed deposit account can be opened by anyone with a minimum deposit of 1000 Naira and a maximum deposit of 1,000,000 Naira at a time. Over the period of two (2) months, each deposit attracts an interest of 4.5%.
Cash withdrawals can be made any time after the first two (2) months and within a 6-hours processing period. Cash withdrawals can be made with 3-days intervals and with an existing balance of 500 Naira. A referral attracts a cash gift or airtime voucher of 200 Naira instantly.
This is a Health Insurance Savings Scheme that allows an individual to save in anticipation of future health challenges. A customer can open a spark health account and access 30% discount on some of their health challenges including emergencies.
Up to three members of the family can benefit from this scheme. Customers can access the spark health discounted prices only if they go to hospitals affiliated with CST Global Cooperative Limited.
This is an educational savings scheme which is divided into the Primary Education Scheme and the Secondary Education Scheme
Silver Package (for schools with school fees from 100,000 Naira and below): Parents save 10,000 naira monthly for a period of 10 years and get 50% of total school fees per term from the company.
Gold Package (for schools with school fees from 100,000 - 300,000 Naira): Parents save 20,000 naira monthly for a period of 10 years and get 50% of total school fees per term from the company.
The Spark P.E Account can only be opened to cater for a child's Primary school education. Withdrawals from the account for payment of child's school fee can only be done after a period of five (5) years consistent savings
The Spark S.E Account can only be opened to cater for a child's secondary school education. Withdrawals from the account for payment of child's school fee can only be done after a period of ten (10) years consistent savings.
The Spark Rent is a housing saving scheme and an account can be opened by anyone.Customers can save on a weekly or monthly basis depending on their preference. Customers save 90% of their annual housing fee (rent) for a period of 12months.
A potential loanee can access up to 50,000 naira emergency loans. All loans attract 20% interest upon repayment. Maximum repayment period is 60days (2months). Loan repayments are made on weekly basis. To qualify for the loan, a potential loanee;
Must operate a Spark Moni account with a minimum of 500 naira deposit as at loan application period. Must have a guarantor who operates any of the Spark Moni account. Can only apply for loans up to the amount his/her guarantor has as deposit. Once loan is approved, guarantor will not be able to withdraw from his/her account.
We also offer variety of other services.