Savings Terms

 

This Memorandum of Understanding (MOU) is made this day

BETWEEN

AIROPAY LIMITED, a company duly incorporated and existing under the laws of the Federal Republic of Nigeria, with its principal place of business located at No 9 Emma Abimbola Cole Street, Lekki Phase 1, Lekki, Lagos, Nigeria (hereinafter referred to as “the Company”, which expression shall where the context so admits, include its successors-in-title and lawful assigns) of the one part;

AND

You (hereinafter referred to as the “Subscriber”, which expression shall where the context so admits, include its successors-in-title and lawful assigns) of the other part.

Whereas:

  1. The Company is a limited liability company licensed to carry on the business of fintech and other related matters in Nigeria.
  2. As part of its corporate social responsibility, the company is offering a 10% interest rate on saving of the subscribers to its “Save for Christmas Promo”, plus an additional promotional offer of 10% on the principal sum saved by the subscriber upon the expiration of the saving tenure, subject to the following terms and conditions as expressly agreed by the parties.
  3. The subscriber has agreed to participate in the aforementioned promo, subject to the following terms and conditions.

It is hereby agreed as follows:

  1. To be eligible to participate in this promo, the subscriber:
  1. must be an account holder of the Company.
  2. shall have a minimum savings of One Hundred Thousand Naira (N100,000) only in his/her account with the Company as at the date of commencement of this promo or within the tenure of the promo, and must have executed this agreement.
  1. Subject to paragraph 6 below, the savings shall be for a fixed period of 3 consecutive months.
  2. Subject to any other paragraph of this agreement, the maturity period for the savings shall be 3 months from the date of savings, and subscriber shall be entitled to an interest rate of 10% on the principal sum plus a promotional offer of an extra 10% on the principal sum upon the expiration of the savings tenure, provided that any withdrawal before the maturity period (3 months from the date of savings) will lead the termination of this agreement, and the subscriber shall not be entitled to any of the promo benefit(s), but shall only be entitled to the sum saved in the account prior to the withdrawal.
  3. Interest on savings shall become payable upon the expiration of the promo tenure.
  4. In the event that the subscriber makes any withdrawal on the account before the maturity period of this agreement, the subscriber shall be disqualified from enjoying any of the promo benefit(s).
  5. Please note that there will be a WHT (withholding tax) deduction of 10% on your accrued interest.
  6. The promo shall be valid from 18th September 2020 to 31st December 2020.

 

By clicking the accept, proceed or continue button on the Airopay savings platform you are agreeing to the terms and conditions stated above.