The TENN Credit Terms of Service (the "Terms") is a binding contract between TENN Microfinance Bank Limited, or other related Platforms (hereinafter collectively referred to as "TENN Credit", "we", "us"), and users ("you", "your") regarding the usage of the TENN Credit Service (the "Service").

The use of our Platform is subject to the following Terms, as amended from time to time . The Terms are to be read together by you with any terms, conditions or disclaimers provided in the pages of our Platform. Please review the Terms carefully. The Terms apply to all users of our Platform,

including without limitation, users who are browsers, customers, merchants, vendors and/or contributors of content. If you access and use our Platform, you accept and agree to be bound by and comply with the Terms and our Privacy Policy. If you do not agree to the Terms or our Privacy Policy, you are not authorized to access our Platform, use any of our Platform’s services or place an order on our Platform.

By accessing or using the Services you consent to our Terms. In addition, you acknowledge that you have read, understood and agreed to be bound by the terms and conditions outlined in these Terms and to comply with all our applicable third-party service provider terms of use and agreements.

Furthermore, you agree that our third-party service providers are third party beneficiaries of the applicable provisions of these Terms, with all rights to enforce such provisions as if such service providers were a party to these Terms. If you are under eighteen (18) years of age, you may not use the Service.

We reserve the right to refuse service to anyone, at any time, for any reason. We reserve the right to make any modifications to the Platform, including terminating, changing, suspending or discontinuing any aspect of the website at any time, without notice. We may impose additional rules or limits on the use of our Platform. You agree to review the Terms regularly and your continued access or use of our Platformwill mean that you agree to any changes.

You agree that we will not be liable to you or any third party for any modification, suspension or discontinuance of our website or for any service, content, feature or product offered through our Platform.

TENN Credit: This refers to the loan service through which you (as our customer) may select and apply for loan according to these Terms. You may select from a range of loan products, with attendant terms and conditions associated with each kind of loan on our Platform.

Platform: Refers to any of our outlets, including our website, (including any sub-domains thereof), web, mobile (or other) application channels, from which you may access the products of TENN Credit.

Account: This refers to the account you created on our platform in order to use the Services. You fully acknowledge that this account will be used throughout the process of the application.

Interest Rate: This refers to interest charges connected with which loan product you opt for. The interest rate will be clearly stated on our Platform and on each loan product page, prior to your subscription to the Service.

Credit Limits: Refers to the TENN Credit amount that you are eligible to.

Repayment Amount: Refers to the sum of your accumulated overdue TENN Credit principal, interests, rollover fee and other payables (if any) that must be repaid on the repayment date.

Be at least 18 years of age to be able to access or use the Services or create an Account (“User Account”, “Account”).

You must be registered on our Platform to access or use Services. Except we grant an exception, a user may only register a TENN Credit account on our Platform with one Bank Verification Number (BVN).

The Services are not available to any User previously removed from the Services (or whose User Account have been terminated) by TENN. You represent and warrant that you possess the legal right and ability to enter into these Terms and to use the Services in accordance with these Terms.

By registering for a TENN Credit Account and subscribing to our loan products, you agree that we may collect various documents and information essential for account setup and loan management. This includes but is not limited to your BVN details, mobile device information, face recognition data, bank account specifics, employment history, salary payment records, and existing loan information. These data points help us create your account and effectively oversee your loan lifecycle from application to repayment.

You also authorize us to conduct necessary enquiries to establish credit assessment patterns and scoring models. This may involve obtaining credit reports from licensed bureaus, verifying your salary and employment status with relevant third parties, and checking existing loan obligations or financial data from authorized sources. Such checks enable us to determine suitable loan offers and tailor repayment terms based on your financial profile.

Additionally, you consent to receive communications from us regarding your loan application or any approved loans. We may contact you via SMS, email, or other appropriate channels to provide updates on application status, disbursement details, repayment reminders, or regulatory notifications. This ensures you stay informed throughout the loan process and can promptly address any administrative requirements.

By agreeing to these terms, you acknowledge that the information provided will be used in compliance with Nigerian financial regulations and applicable laws, and we will maintain strict confidentiality and security measures to protect your personal and financial data.

Where applicable, you also consent to the loan repayment amounts being deducted from your salary at source before being credited to your account and agree that any outstanding loans will be automatically recovered from any BVN accounts linked to you in the event of default.

By clicking Sign Up, you consent to us obtaining from relevant third parties the information necessary for assessing your loan application, including your employment details, salary payment history, loans and other related data. You further consent to the loan amounts (if approved) being deducted from your salary at source prior to being credited to your account, and to the automatic recovery of any outstanding loans from any BVN accounts linked to you in the case of default.

TENN Credit Limits: Your TENN Credit Limit represents the maximum loan or credit amount we approve based on your creditworthiness. This limit is revolving and can be utilized throughout the validity period of your credit line. You may check your current credit limit at any time by logging into your TENN Credit Account. Please note that we reserve the right to adjust your credit limit at any time, reflecting changes in your credit profile. The Credit Limits page provides a breakdown of available amounts for each loan type.

Validity Period: The credit line validity period specifies the timeframe during which you may request loans up to your approved limit via thePlatform. Your initial credit limit is valid for one year from the effective date of these Terms. Unless either party notifies the other prior to expiration, your credit limit will automatically renew for successive oneyear periods with no limit on renewals.

Credit Review: TENN Credit evaluates each loan application individually and retains sole discretion in approving or declining requests.

Interest: Which is calculated on a one-time basis according to the duration of your loans. You fully understand that the interest rate varies according to your agent level as well as your loan type. We will clearly indicate the applicable interest rate for each product which will inform which TENN Credit product you subscribe to on our Platform.

In the event of your failure to make repayment on the due date, we shall impose a Late Fee calculated based on the number of days of delinquency. Such Late Fee shall accrue on a daily basis from the date of default, and the aggregate amount thereof shall not exceed the Basic Principal. The calculation method for the Late Fee will be clearly set forth in our Platform.

We offer multiple repayment methods, and you may select a suitable option through our Platform. You can choose to make full repayments or partial repayments. The page will clearly display your repayment history and any outstanding overdue amounts for easy reference.

You hereby represent and warrant that all information provided by you to us is true, accurate, and up-to-date in all material respects, and we may rely on such information for the purposes of these Terms.

In the event of any default under these Terms, you consent to our right to contact you at the contact details provided by you, on any day of the week, for debt collection or other relevant communications.

If the bank account linked to your BVN has insufficient funds to meet debit order obligations, you authorise us to monitor the account activity and resubmit payment instructions to the bank at any subsequent time (where applicable) until the obligations are fulfilled.

Any changes to your bank account details must be updated through the designated channels, and you irrevocably authorise us to apply such updates to all agreements between you and us, including these Terms, without further notice.

All amounts payable under these Terms shall be paid in full without any set-off, counterclaim, restriction, or condition, and shall be free of any taxes or other deductions or withholdings of any kind. If any law or regulation requires us (or any other person) to make any deduction or withholding (whether for tax or any other reason) from any payment due to us, you agree to pay such additional amount as is necessary to ensure we receive the full amount originally due. This obligation shall not prejudice our right to fully recover the loan principal, plus any other receivables, in accordance with the terms of the loan product you subscribed to.

You acknowledge that you are responsible for the information, profiles, opinions, messages, comments and any other content (collectively, the “Content”) that you post, distribute or share on or through our Platform or services available in connection with our Platform. You further acknowledge that you have full responsibility for the Content, including but limited to, its legality, and its trademark, copyright and other intellectual property ownership.

You agree that any Content submitted by you in response to a request by us for a specific submission may be edited, adapted, modified, recreated, published, or distributed by us. You further agree that we are under no obligation to maintain any Content in confidence, to pay compensation for any Content or to respond to any Content.

You agree that you will not post, distribute or share any Content on our Platform that is protected by copyright, trademark, patent or any other proprietary right without the express consent of the owner of such proprietary right. You further agree that your Content will not be unlawful, abusive or obscene nor will it contain any malware or computer virus that could affect our Platform’s operations. You will be solely liable for any Content that you make and its accuracy. We have no responsibility and assume no liability for any Content posted by you or any third-party.

We reserve the right to terminate your ability to post on our Platform and to remove and/or delete any Content that we deem objectionable. You consent to such removal and/or deletion and waive any claim against us for the removal and/or deletion of your Content.

Please see our Privacy Policy to learn about how we collect, use, and share your personal information.

You assume all responsibility and risk with respect to your use of our Platform, which is provided “as is” without warranties, representations or conditions of any kind, either express or implied, with regard to information accessed from or via our Platform, including without limitation, all content and materials, and functions and services provided on our Platform, all of which are provided without warranty of any kind, including but not limited to warranties concerning the availability, accuracy, completeness or usefulness of content or information, uninterrupted access, and any warranties of title, non-infringement, merchantability or fitness for a particular purpose.

We do not warrant that ourPlatform or its functioning or the content and material of the services made available thereby will be timely, secure, uninterrupted or error-free, that defects will be corrected, or that our Platform or the servers that make our Platform available are free of viruses or other harmful components.

In no event will we, or our affiliates, our or their respective content or service providers, or any of our or their respective directors, officers, agents, contractors, suppliers or employees be liable to you for any direct, indirect, special, incidental, consequential, exemplary or punitive damages, losses or causes of action, or lost revenue, lost profits, lost business or sales, or any other type of damage, whether based in contract or tort (including negligence), strict liability or otherwise, arising from your use of, or the inability to use, or the performance of, our Platform or the content or material or functionality through our Platform, even if we are advised of the possibility of such damages.

In addition to any other indemnity clause provided in these Terms, you agree to indemnify, hold harmless and reimburse us, its affiliates, its agents, licensors, suppliers, contractors and third-party service providers, and their respective employees, members, officers and directors, (Collectively “Indemnified Parties”) from and against any and all claims, losses, suits, damages (actual and consequential), obligations, penalties, any losses arising out of the loss or theft of your User Information or your mobile device or from unauthorized or fraudulent transactions associated with your User Account, fines, liabilities, settlements, costs or debt, and expenses (including, without limitation, court costs and reasonable attorneys’ fees) (“Losses”) arising from or in any way connected to any third-party claims relating to your use of the Services, violation of these Terms, applicable law or any third-party rights, or your fraud or wilful misconduct. This defence and indemnification obligation will survive any termination of these Terms and your use of the Services.

Our failure to exercise or enforce any right or provision of the Terms will not constitute a waiver of such right or provision. A waiver by us of any default will not constitute a waiver of any subsequent default. No waiver by us is effective unless it is communicated to you in writing.

You may terminate your use of our Services at any time upon notice to us and in accordance with directives provided by us. Please contact us for the applicable notice period and requirements.

If you have any questions or concerns, you can reach out to us at [insert email or phone number]

TENN Credit may post notices or links to notices through its Services to inform you of changes to the Terms, the Services, or other matters of importance.

Governing law - These Terms are made under and will be governed in accordance with the laws of the Federal Republic of Nigeria, without giving effect to any principles that provide for the application of the law of another jurisdiction.

Severability - If any of the provisions of these Terms are determined by any competent authority to be invalid, unlawful or unenforceable, such provision will to that extent be severed from the remaining Terms, which will continue to be valid and enforceable to the fullest extent permitted by law.

Assignment - We expressly reserve the right to assign, delegate and transfer these Terms and its rights and obligations under these Terms in part or as a whole and including without limitation, to a subsidiary, affiliate, successor or any third-party whatsoever without your consent. You shall not transfer, assign, or delegate these Terms, or your rights, obligations and User Account in any manner whatsoever under these Terms, to any person or entity without our prior written approval.

Entire agreement - The Terms and any documents expressly referred to in them represent the entire agreement between you and us in relation to the subject matter of the Terms and supersede any prior agreement, understanding or arrangement between you and us, whether oral or in writing. Both you and we acknowledge that, in entering these Terms, neither you nor we have relied on any representation, undertaking or promise given by the other or implied from anything said or written between you and us prior to such Terms, except as expressly stated in the Terms.

Additional terms - In conjunction with your access or use of the Services, you may be subject to additional terms, rules, policies, and conditions that are posted on the Website, including, but not limited to, terms and conditions for our referral or rewards programs (the “Additional Terms”), which are hereby incorporated by reference into these Terms. In the event of a conflict between any Additional Terms and these Terms, these Terms shall prevail.