Veelage Reward Framework
Earn a commission once you sign up as a Veelager and start your bank
Veelage Reward Framework
Here’s how the Veelage Commission works
Agent 1 (Sergeant)
An Eligible Veelager on this level can only earn commission on this level for three months. Commission payment would resume once a Veelager moves to the next level.Agent 1 (Sergeant)
When you refer 25 active V bank accounts with a cumulative daily minimum average balance of ₦500,000.
You earn: ₦30,000
For First 3months Only
Agent 2 (Lieutenant)
When you refer 75 active V bank accounts with a cumulative daily minimum average balance of ₦2,000,000.
Agent 3 (Captain)
You earn: ₦100,000 Monthly
Agent 4 (Major)
Branch 1 (Colonel)
When you refer 1000 active V bank accounts with a cumulative daily minimum average balance of ₦25,000,000.
You earn: ₦500,000 Monthly
Branch 2 (General)
When you refer 2000 active V bank accounts with a cumulative daily minimum average balance of ₦100,000,000.
Super Branch (Field Mashal)
You earn: ₦2,000,000 Monthly
Read the terms and condition
Commission Payment
● A Veelager who achieves at least 10% increase on both Total Number of Active Accounts and Cumulative Minimum Daily Average Balance from the previous month performance will earn the full applicable commission due to the level Veelager is on for the month under review
Progression on the Veelage Level
● Veelagers can progress or drop off the rank based on the set criteria combination. However, once a Veelager drops from any higher category to Agent 1, they can only earn as an Agent 1 for a maximum of 3 months; if they do not progress to Agent 2 by the 3rd month after the initial drop, they stop earning.
● A Veelager who moves up to a higher level (Levels 2-7) will only earn the applicable full commission for a period of 2months. Thereafter, a Veelager will be required to achieve the set out criteria on monthly incremental growth on both total number of active accounts and cumulative minimum daily average balance for the level Veelager is on to earn the full applicable commission for the level attained.
Decline on the Veelage Level
● Veelagers on Levels 2-7 who achieve less than the minimum set out criteria on monthly incremental growth on both total number of active accounts and cumulative minimum daily average balance for the level Veelager is on will earn 50% of applicable commission for the level attained.
● Veelagers on Levels 2-7 who consistently fail to meet the minimum set out criteria on monthly incremental growth on both total number of active accounts and cumulative minimum daily average balance for 6 consecutive months will stop earning commission. Commission earning will only resume when the Veelager achieves the minimum set out criteria on monthly incremental growth on both total number of active accounts and cumulative minimum daily average balance or move to a higher level.
● Veelagers on Levels 2-7 who drop to a lower level will earn the applicable default commission for the lower level for the month under review. Subsequent month Veelager will be required to achieve the minimum set out criteria on monthly incremental growth on both total number of active accounts and cumulative minimum daily average balance for the level Veelager dropped, to earn the full applicable commission. In the event, the minimum set criteria combination is not met, Veelager will only earn 50% of applicable commission for that level.
Start earning monthly income for free with veelage
Veelage Product Brochure
Download the product brochure to learn about more about the veelage rewards framework
Veelage Reward Framework
Here’s how the Veelage Commission works
Agent 1 (Sergeant)
When you refer 25 active V bank accounts with a cumulative daily minimum average balance of ₦500,000.
You earn: ₦30,000
For First 3months Only
Agent 4 (Major)
When you refer 250 active V bank accounts with a cumulative daily minimum average balance of ₦7,500,000.
Super Branch (Field Mashal)
When you refer 3000 active V bank accounts with a cumulative daily minimum average balance of ₦200,000,000.
You earn: ₦2,000,000 Monthly
Agent 1 (Sergeant)
An Eligible Veelager on this level can only earn commission on this level for three months. Commission payment would resume once a Veelager moves to the next level.Agent 2 (Lieutenant)
When you refer 75 active V bank accounts with a cumulative daily minimum average balance of ₦2,000,000.
You earn: ₦50,000 Monthly
Branch 1 (Colonel)
When you refer 1000 active V bank accounts with a cumulative daily minimum average balance of ₦25,000,000.
Agent 3 (Captain)
When you refer 100 active V bank accounts with a cumulative daily minimum average balance of ₦5,000,000.
Branch 1 (General)
When you refer 2000 active V bank accounts with a cumulative daily minimum average balance of ₦100,000,000.
Read the terms and condition
Commission Payment
● A Veelager who achieves at least 10% increase on both Total Number of Active Accounts and Cumulative Minimum Daily Average Balance from the previous month performance will earn the full applicable commission due to the level Veelager is on for the month under review
Progression on the Veelage Level
● Veelagers can progress or drop off the rank based on the set criteria combination. However, once a Veelager drops from any higher category to Agent 1, they can only earn as an Agent 1 for a maximum of 3 months; if they do not progress to Agent 2 by the 3rd month after the initial drop, they stop earning.
● A Veelager who moves up to a higher level (Levels 2-7) will only earn the applicable full commission for a period of 2months. Thereafter, a Veelager will be required to achieve the set out criteria on monthly incremental growth on both total number of active accounts and cumulative minimum daily average balance for the level Veelager is on to earn the full applicable commission for the level attained.
Decline on the Veelage Level
● Veelagers on Levels 2-7 who achieve less than the minimum set out criteria on monthly incremental growth on both total number of active accounts and cumulative minimum daily average balance for the level Veelager is on will earn 50% of applicable commission for the level attained.
● Veelagers on Levels 2-7 who consistently fail to meet the minimum set out criteria on monthly incremental growth on both total number of active accounts and cumulative minimum daily average balance for 6 consecutive months will stop earning commission. Commission earning will only resume when the Veelager achieves the minimum set out criteria on monthly incremental growth on both total number of active accounts and cumulative minimum daily average balance or move to a higher level.
● Veelagers on Levels 2-7 who drop to a lower level will earn the applicable default commission for the lower level for the month under review. Subsequent month Veelager will be required to achieve the minimum set out criteria on monthly incremental growth on both total number of active accounts and cumulative minimum daily average balance for the level Veelager dropped, to earn the full applicable commission. In the event, the minimum set criteria combination is not met, Veelager will only earn 50% of applicable commission for that level.
Start earning monthly income for free with veelage
Veelage Product Brochure
Download the product brochure to learn about more about the veelage rewards framework
Veelage Square
By signing up for the V Bank Early Adopter Programme, you also gain access to the Veelage Square.
