Terms and Conditions

Eligibility

• Be at least 18 years old.
• Be a Ugandan national or resident.
• Provide accurate personal information for KYC and CRB checks.

We reserve the right to reject or terminate membership if false or misleading information is provided.

Membership and Savings

• Members may open savings accounts, including locked savings (neoLock) and flexible savings.
• Locked savings accounts earn fixed annual interest (up to 24%) and cannot be withdrawn before maturity without penalty.
• You must fund your account through approved payment channels (e.g., mobile money).

Loans

• Loans are available to qualifying members based on our internal credit scoring and CRB checks.
• Interest rates range from 8%–15% per month, depending on the loan product.
• Loan repayment must be made on or before the due date via mobile money or other authorized channels.
• Late payments may incur penalties and affect your credit rating.

Credit Reference Reporting

• We are integrated with licensed credit bureaus in Uganda.
• Your loan performance may be shared with the CRB in accordance with national regulations.
• By applying for a loan, you consent to CRB checks and data sharing.

Use of Services

• You are responsible for safeguarding your account credentials (PINs, passwords, etc.).
• You must not use our services for fraudulent, unlawful, or prohibited activities.
• We may suspend your access if misuse, fraud, or regulatory non-compliance is detected.

Agent Services

• Agents operate on behalf of Zimba SACCO but are not allowed to collect cash directly.
• All transactions must be completed through official USSD or mobile channels.

Fees and Charges

You agree to pay all applicable fees, including:

• Loan interest and penalties
• Card issuance fees
• CRB report fees
• Withdrawal fees on flexible savings (if any)

All fees are transparently displayed before confirming a transaction.

Data Protection & Privacy

• We comply with Uganda’s Data Protection and Privacy Act.
• Your data is securely stored and only shared with third parties (e.g., CRB, regulators) where legally required.

For more details, please read our Privacy Policy.

Termination

• You may terminate your membership by submitting a written request and settling all outstanding obligations.
• We may suspend or terminate your account for misuse, fraud, or default.

Limitation of Liability

We are not liable for losses resulting from:

• System outages beyond our control
• Unauthorized access caused by negligence on your part
• Delays in mobile money services or third-party platforms

Dispute Resolution

• Disputes must first be reported to our customer support.
• Unresolved matters will be escalated to the SACCO supervisory committee.
• If still unresolved, disputes will be handled under Ugandan law.

Regulatory Compliance

Zimba SACCO Ltd is registered under the Co-operative Societies Act of Uganda and regulated by the Ministry of Trade, Industry and Cooperatives, and where applicable, we comply with the Uganda Microfinance Regulatory Authority (UMRA) guidelines.

Changes to Terms

We reserve the right to update these Terms and Conditions at any time. We will notify you via the app, SMS, or email of any major changes.

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