1. Introduction
These Terms and Conditions ("Terms") govern your access to and use of the services provided by Bieldebest Diamond Investment Limited ("Bieldebest", "we", "us", or "our"), including our website, mobile applications, and all other platforms ("Platform"). By accessing or using our Platform or applying for any of our services, you agree to be bound by these Terms.Someone famous -->
2. Eligibility
Age: You must be at least 18 years old to use our services.
Residency: You must be a resident of Nigeria.
Capacity: You must have the legal capacity to enter into a binding contract.
3. Services
Bieldebest offers a variety of microfinance services to individuals and businesses in Nigeria, including:
- Microloans: Small, short-term loans for individuals and small businesses.
- Group loans: Loans provided to a group of individuals, where each member is liable for the entire loan amount if others default.
- Asset-backed loans: Loans secured by collateral, such as vehicles or land.
- Education loans: Loans to finance educational expenses.
- Business loans: Loans to support business activities and expansion.
- Savings accounts: Accounts that allow you to save money and earn interest.
- Target Savings accounts: Accounts with specific savings goals and potentially higher interest rates.
- Investment products: We may offer investment products in the future, subject to regulatory approval.
4. Application Process
To apply for any service, you must Complete an online or paper application form. Provide accurate and complete information, including:
Personal details: Name, address, phone number, email address, date of birth, and identification documents.
Financial information: Income, employment details, and existing debts.
Business information (for business loans): Business registration details, financial statements, and business plan. Submit the required documents, such as: Valid government-issued ID Proof of address Bank statements (for loan applications) Business registration documents (for business loans) We may conduct a credit check and assess your eligibility based on our internal criteria, including your creditworthiness, income, and repayment history.
5. Loan Terms and Conditions
If your loan application is approved, you will receive a separate loan agreement outlining the specific terms and conditions of your loan, including:
Loan amount: The total amount of money you are borrowing.
Interest rate: The annual percentage rate (APR) charged on the loan. Loan term: The duration of the loan, typically in months or years.
Repayment schedule: The frequency and amount of your loan payments.
Early repayment: Whether and how you can repay the loan early without penalty.
Late payment fees: The charges applied for late or missed loan payments.
Default charges: The penalties imposed if you fail to meet your loan obligations.
Security interest (if applicable): If the loan is secured by collateral, the type of collateral and our rights to it in case of default.
6. Fees and Charges
Bieldebest may charge various fees and charges, including:
Loan processing fee: A one-time fee charged to cover the cost of processing your loan application. Interest: The cost of borrowing money, calculated as a percentage of the loan amount. Late payment fees: Penalties charged for late or missed loan payments. Account maintenance fees: A periodic fee charged for maintaining your account. Transaction fees: Fees charged for certain transactions, such as withdrawals or transfers. The specific fees and charges will be clearly disclosed before you apply for any service. You will receive a breakdown of all applicable fees before you are obligated to accept the loan or service.
7. Payment
You are responsible for making timely payments for your loans and any other applicable fees according to the agreed-upon schedule. We offer various payment options, including:
Bank transfers Cash deposits at our branches Mobile money payments
8. Default
If you fail to make your loan payments as agreed, you may be considered in default. This may result in:
Late payment fees: As outlined in the loan agreement. Accrued interest on unpaid amounts: Interest will continue to accrue on the outstanding balance.
Legal action: We may take legal action to recover the outstanding amount, including court proceedings.
Reporting to credit bureaus: We may report your default to credit bureaus, which could negatively impact your credit score and ability to access credit in the future.
Repossession: If the loan is secured by collateral and you default on your payments, we reserve the right to repossess the collateral to recover the outstanding debt.
Confidentiality and Privacy Bieldebest is committed to protecting the confidentiality and privacy of your personal and financial information. We collect and use your information only for the purpose of providing our services and as required by law. We do not share your information with third parties without your consent, except as necessary for the provision of our services or as required by law.
Dispute Resolution In the event of any disputes or disagreements between you and Bieldebest, we will strive to resolve the issue amicably through negotiation and mediation. If a resolution cannot be reached, the dispute will be subject to the exclusive jurisdiction of the courts of Nigeria.
Amendments Bieldebest reserves the right to amend these Terms and Conditions at any time without prior notice. Any changes will be effective immediately upon posting on our Platform. It is your responsibility to review these Terms periodically for any updates or changes.
Governing Law These Terms and Conditions shall be governed by and construed in accordance with the laws of Nigeria. Any disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of Nigeria.
By accessing or using our Platform, applying for our services, or entering into any agreement with Bieldebest Diamond Investment Limited, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions. If you do not agree with any part of these Terms, you may not access or use our services.