Terms and Conditions

Last Updated: [24/05/2025]

Welcome to Triple A Microfinance Bank (“Triple A MFB,” “we,” “us,” or “our”). By accessing or using our services, including but not limited to opening an account, applying for loans, or using our mobile application, you (“Customer,” “you,” or “your”) agree to be bound by these Terms and Conditions (“Terms”). Please read these Terms carefully before using our services. If you do not agree to these Terms, you should not use our services.

These Terms may be updated from time to time, and any changes will be communicated to you via email or through our mobile application. Your continued use of our services after such changes constitutes your acceptance of the revised Terms.

1. Account Opening

1.1 Eligibility

To open an account with Triple A MFB, you must:

Be at least 18 years old.
Be a resident of Nigeria.
Provide a valid government-issued identification document (e.g., National ID, Driver’s License, Voter’s Card).
Provide proof of address (e.g., utility bill, bank statement).
Have a valid Bank Verification Number (BVN).

1.2 Account Types

Triple A MFB offers various account types, including savings accounts, current accounts, and fixed deposit accounts. Each account type has specific features, benefits, and requirements, which will be communicated to you during the account opening process.

1.3 Account Opening Process

Download the Triple A MFB mobile application from the Google Play Store or Apple App Store.
Sign up using your phone number linked to your BVN.
Complete the required identity verification steps.
Submit the necessary documents for account verification.
Once your account is approved, you can access our full range of services.

1.4 Account Limits

By default, all accounts have the following limits:

Maximum daily deposit: ₦200,000
Maximum daily transfer: ₦200,000
Maximum account balance: ₦500,000
These limits may be increased upon request and subject to additional verification.

2. Loan Agreements

2.1 Loan Eligibility

To apply for a loan with Triple A MFB, you must:

Have an active account with Triple A MFB.
Meet the minimum credit score requirements as determined by our internal assessment.
Provide accurate and complete information during the loan application process.

2.2 Loan Application Process

Log in to your Triple A MFB account via the mobile application.
Select the loan product you wish to apply for.
Complete the loan application form and submit the required documents.
Await approval, which will be communicated within 24 hours.

2.3 Loan Terms

Loan Amount: Loans range from ₦10,000 to ₦3,000,000.
Interest Rate: 5% Interest rates are determined based on your credit profile and the loan product selected.
Repayment Period: Loans must be repaid within 6 months for microcredit – 12 months for agric loans.
Repayment Method: Repayments are automatically deducted from your linked bank account or Triple A MFB account on the due date.

2.4 Late Repayment and Default

If you fail to repay your loan by the due date, a late repayment fee will be applied.
Continued failure to repay may result in:
- Suspension of your account.
- Reporting to the National Credit Bureau.
- Legal action to recover the outstanding amount.
Defaulting on a loan will negatively impact your credit score and may affect your ability to access future loans.

3. Privacy Policy

3.1 Data Collection

Triple A MFB collects personal information from you during account opening, loan applications, and while using our services. This information includes but is not limited to:

Name, address, and contact details.
Government-issued identification documents.
Bank Verification Number (BVN).
Financial transaction history.

3.2 Use of Data

We use your personal information to:

Verify your identity.
Assess your eligibility for loans and other financial products.
Process transactions and provide customer support.
Comply with legal and regulatory requirements.
Improve our services and prevent fraud.

3.3 Data Protection

We employ industry-standard security measures to protect your data from unauthorized access, disclosure, or misuse.
Your data is stored securely and is only accessible to authorized personnel.
We do not sell or share your personal information with third parties without your consent, except as required by law.

3.4 Data Retention

We retain your personal information for as long as necessary to fulfill the purposes for which it was collected, or as required by law. You may request the deletion of your data by contacting us, subject to legal and regulatory requirements.

4. Dispute Resolution

4.1 Customer Complaints

If you have a complaint or dispute regarding our services, please contact our customer support team via:

Email: support@tripleamfb.com
Phone: +234 123 456 7890
In-app chat support

4.2 Internal Resolution

We will make every effort to resolve your complaint internally within 7 business days. If the issue is not resolved to your satisfaction, you may escalate it to our management team.

4.3 External Resolution

If the dispute remains unresolved after internal escalation, you may seek external resolution through:

The Central Bank of Nigeria (CBN) Consumer Protection Department.
Arbitration, in accordance with the Arbitration and Conciliation Act of Nigeria.
Legal action, if necessary.

5. General Provisions

5.1 Amendments

Triple A MFB reserves the right to amend these Terms at any time. Any changes will be communicated to you via email or through our mobile application. Your continued use of our services after such changes constitutes your acceptance of the revised Terms.

5.2 Governing Law

These Terms are governed by the laws of the Federal Republic of Nigeria. Any disputes arising from these Terms shall be subject to the exclusive jurisdiction of the courts of Nigeria.

5.3 Termination

Triple A MFB reserves the right to terminate your account or access to our services if you breach these Terms or engage in any fraudulent or illegal activities.

5.4 Contact Information

For any questions or concerns regarding these Terms, please contact us at:

Email: info@tripleamfb.com
Phone: 08073991230 – 51, 08090315702
Address: Triple A MFB, Strong Tower Plaza, Plot 826, Solomon Lar Way, opposite NHIS Headquarters & Customary Court of Appeal, Utako District, Abuja

By using Triple A MFB’s services, you acknowledge that you have read, understood, and agreed to these Terms and Conditions. Thank you for choosing Triple A MFB as your financial partner.