I agree to the terms and conditions.

TERMS AND CONDITIONS 

These Terms and Conditions govern the relationship between Assets Microfinance Bank Limited (the “Bank”) and I/us, in relation to my/our fixed deposit (the “Investment”) in my/our Fixed Deposit Account maintained by the Bank on my/our behalf.       

 I/We hereby unconditionally and irrevocably agree and undertake as follows: 

• That the Investment in my/our Fixed Deposit Account shall be fixed for the tenure indicated by me/us in this application and all payments of interest(s) earned on Investment(s) shall be subject to withholding tax. 
•  To duly notify the Bank solely through my/our established email address (as submitted to the Bank during the application process), of my/our intention to withdraw or rollover the Investment and/or the accrued interest at maturity. 
•  That my/our request for the withdrawal or rollover of the Investment and/or the accrued interest thereon, whether partially or fully, will be effected upon providing the Bank with a notice of at least three (3) working days before the maturity date (the “Notice Period”). Where I/We fail to notify the Bank of our intentions within the Notice Period, I/We agree that the proceeds of the Investment (principal and interest) be paid into my/our nominated bank account without further recourse to me/us. 
•  In the event of my/our early liquidation of the Investment before the agreed maturity date, the Bank shall refund the Investment; and the interest earned on the Investment from inception up to the date of pre-liquidation shall be calculated at the agreed interest rate, subject to the Bank’s deduction of a penalty charge of 20% on the interest that has accrued up till the date of termination.  
•  That the Bank needs to receive clear instructions from me/us at all relevant times (in writing or via an authorized medium), in order to initiate or execute any action in connection with my/our Investment and I/We agree to fully indemnify the Bank for any losses, expenses and liabilities arising from the Bank’s reliance on my/our instructions. 
•  That all statements given in this application form and other related documents are true and accurate in every respect; I/We understand that the completeness and correctness thereof is my/our responsibility and agree that such statements shall form the basis of the agreement which is to be entered into with the Bank. 
• To promptly inform the Bank of any changes in the details and information provided by me/us herein. In the event of any such change, I/We shall immediately make available to the Bank, all information/approved documentation required for the maintenance of my/our Fixed Deposit Account.  
•  To be bound by any notification of change in the conditions governing the Investment/Fixed Deposit Account. All notices/correspondence directed to my/our official email address(es) and/or office address(es) shall be considered to be duly delivered and received by me/us. 
•  That any discrepancy, errors or omissions observed on the Investment certificate, deal slip, notices, letters or any other correspondences shall be reported to the Bank within 14 (fourteen) working days from the date of receipt of the Investment certificate, failing which same shall be deemed to be correct and accurate. 
•  That the Bank shall not be liable for any failed, delayed, omitted or unsuccessful processing of any request regarding my/our Investment/ Fixed Deposit Account or for any other failure to carry out its responsibilities due to events beyond its control, such reasons which include but are not limited to force majeure events (e.g. acts of war, natural disasters, civil strife, etc.), network or system downtime or failures, maintenance processes, unavailability of any communication system, delays, malfunctions or any other event arising from an external interface, breach or virus in the processes or payment mechanism, sabotage, unauthorised access to computer data and storage device, breach of security restrictions, computer crashes, regulatory stipulations, communications or technological constraints. 
•  That the Bank shall not be responsible for any loss, injury, damage or any other liability, whether direct, indirect, special or consequential, caused by any transaction connected to my/our Investment/Fixed Deposit Account. 
•  That the Bank reserves the right to disclose any information regarding my/our Investment/Fixed Deposit Account, if required or permitted by law, rules and regulations or at the request of any public or regulatory authority. 
•  The information contained in this application may be recorded electronically in addition to the physical records maintained by the Bank. Such records will form part of the record of the Investment for all purposes and may be used as evidence at any proceedings. 
•  That I/We understand that the Bank’s acceptance of my/our application for the opening of a Fixed Deposit Account is in reliance on the following representations and warranties made by me/us, all of which must be complied with in all material respects throughout the duration of the Investment and maintenance of my/our Fixed Deposit Account. Thus, I/We hereby represent and warrant to the Bank that: 
•  all statements given in this application form and other related documents are true and accurate in every respect. I/We understand that the completeness and correctness thereof is my/our responsibility and agree that such statements shall form the basis of the agreement which is to be entered into with the Bank. If any information/documentation provided by me/us in connection with the Investment is found to be false, untrue or misleading, I/We shall be held fully liable for any losses or liabilities which arise. 
•  I/We have the full power, right, capacity and authority to accept and agree to these Terms and Conditions. 
•  at the date of this application, there are no liens, charges, pledges, transfers or any other encumbrance on the Investment. 
•  there are no conditions, events, occurrences or other circumstances that might have a material adverse effect on my/our ability to maintain the Investment with the Bank. 
•  pursuant to the provisions of the Money Laundering (Prohibition) Act, 2011 (As Amended), I/We confirm that I/We, am/are not involved in any illegal activities and that the Investment(s) provided to the Bank is/are not derived in any way from illegal activities. I/We, am/are willing to answer any questions with respect to the origin of such Investment(s) and I/We agree to provide any additional information as may be required by the Bank and/or any public or other regulatory authority. 
•  That the representations and warranties contained herein shall be deemed repeated whenever I/We give any instructions in connection with the Fixed Deposit Account.  
•  That the Terms and Conditions herein contained shall apply to the specific Investment for which this application is being made. The Terms and Conditions herein contained are not exhaustive. Any terms and conditions stated on an Investment certificate or advice or slip or other related documents shall be deemed to be incorporated herein. 

 These Terms and Conditions shall be governed by the laws of the Federal Republic of Nigeria. 

 DECLARATION 

I/We hereby declare that I/We have read, understood and agree to be bound by the Terms and Conditions contained herein.