Frequently Asked Questions
Who is Overwood?
Overwood is an investment firm that pools funds from its members to invest in safe, high-yield investment products.
Why should I invest in Overwood?
- Our portfolio strategy is a conservative approach designed to minimize risk to the invested capital while guaranteeing a good return. Our strategy is as follows:
- Safety first - We invest about 80% of the funds' net assets in dividend-paying money market instruments to minimize the risk to which funds are exposed.
- Higher return - An additional 15% of the fund is invested in other pooled investment vehicles with higher returns.
- Highest return - The remaining 5% of the fund is invested in riskier assets with extremely high returns.
- We offer daily payment of dividend accrued on your investment account.
- We offer 8 - 15% annual interest rate on investment which is compounded daily.
What is your bank account details?
Account Name: OVERWOOD INVESTMENTS LIMITED
Bank: PROVIDUS BANK PLC
Account number: 5400509126
Which countries do you operate in?
We are currently available only in Nigeria. However, we will launch a pan-African fund in April 2021 for investors in other African countries.
- Where can I find your prospectus?
How long can I keep my investment with Overwood?
There is a minimum tenor of 90 days and no maximum tenor. You can choose to keep your investment with us for as long as you wish and your money will keep earning returns daily.
What interest do I earn on my investment?
We offer up to 12% returns on investment which is determined by the market value for each day.
When does my investment begin to earn returns?
Your investments begin to earn returns from 12 midnight on the same day. Thereafter, your daily returns are credited to your Overwood account at 12 midnight each day.
What do you invest in?
We invest in mutual funds, money market instruments, government bonds, credit-backed instruments, capital market instruments, and treasury bills. The pooled resources give us access to the safest and most sophisticated investment products in the global market.
We are a safety-first fund so our investments are weighted towards bonds and money market instruments.
Can I monitor my investment and returns?
Yes, you can monitor the daily dividends accrued on your investment on our dashboard.
What is the minimum amount of investment?
The minimum amount of investment is NGN50,000.
How secure is my information?
All customer details are encrypted and securely stored in the cloud, so they remain undisclosed to a third party. We do not store your card details as we work with a PCIDSS-compliant processor to handle all customers' card details.
How secure is my money?
Fund security is our number one priority so we only invest in instruments that provide very, very high likelihood of principal safety.
When can I withdraw my money?
All investments can be liquidated at the set maturity date or anytime afterwards.
You may also withdraw before the maturity date if you really need your money. However, any withdrawal made before the set maturity date will attract a 40% penalty fee on the interest. You principal amount will never depreciate, the early withdrawal fee is only on the interest.
How do I withdraw my money?
To initiate a withdrawal, please follow the steps below:
- Login to your dashboard.
- Click on "withdraw".
- Enter the amount you want to withdraw.
- Confirm withdrawal. Once you request a withdrawal, a member of staff will be in touch with you to confirm the request and discuss the withdrawal process.
How do I fund my investment account?
1. Log onto your dashboard.
2. Click "invest now".
3. Specify amount.
4. Select tenor duration (90 days, 180 days or 365 days), then click 'confirm rate/tenor'.
5. Sign in your name and click 'complete transaction'.
6. Transfer investment amount to the account details provided.