1. APPLICABILITY AND UNDERSTANDING.
1.1. These terms (hereinafter “Terms and Conditions”) apply to the access and use of ‘Y9 Short Term Loan’ credit facility provided by Y9 Microfinance Tanzania Limited (“Y9 Microfinance”) against all applicable Customers.
1.2. These Terms and Conditions together with the Conditions of Use that concerns the Y9 App provided by Y9 Microfinance Tanzania Limited constitute the contract between you and Y9 Microfinance Tanzania Limited.
1.3. These Terms and Conditions are available on the Y9 website at www.y9bank.com as well as the Y9 App.

2. DEFINITIONS
2.1. “B2B Customer” means a customer that has given his/her employer consent to deduct from his/her monthly net salary the monthly instalment due to Y9 Microfinance and pay directly to Y9 Microfinance;
2.2. “B2C Customer” means a customer that has been accepted the Y9 Cash Loan and agrees to make repayments directly to Y9 Microfinance as per the conditions specified;
2.3. “B2G Customer” means a public sector employee who has consented to Y9 Microfinance to repay his monthly repayments through direct deductions from the Accountant General of Tanzania;
2.4. “Customer” means any of the B2B, B2C or B2G Customer who has accessed a Product from Y9 Microfinance;
2.5. “Event of Default” means a situation whereby the Product is due and unpaid for three (3) days or more or if a Customer commits any breach or fail to observe, keep or perform any of the terms, conditions, covenants or provisions of any other agreement between us and yourself in respect of the Products; or if there is reasonable apprehension that you are unable to pay your debts or we receive any notice that you have admitted any inability to pay your debts as they become due;
2.6. “Fees” means includes any application fees, processing fees, service fees, interests, charges and penalty fees and any other fees and charges payable for the use of the Services as shown in Schedule 1 of this Agreement. by Y9 Microfinance;
2.7. “Loan Account” means an electronic loan account opened with Y9 Microfinance for the purpose of effecting digital loans services in accordance with the terms and conditions set out;
2.8. “Mobile Money Account” means the account registered in the Customer’s name with a mobile network operator in which the credit facility shall be received by the Customer;
2.9. “MSME” means a small-scale business registered under the laws of Tanzania that desires to obtain a loan from Y9 Microfinance;
2.10. “Notice” means a written SMS or notification sent by Y9 Microfinance to the Customer either directly to their mobile phone or through the App;
2.11. “Services” means any form of facilities or products that Y9 Microfinance may offer pursuant to these Terms & Conditions and as may be offered from time to time;
2.12. “Stockists” means a small-scale business registered under the laws of Tanzania that desires to obtain a Loan from Y9 Microfinance;
2.13. “Whitelisted” means a Customer who has been selected by Y9 Microfinance to be eligible for a Credit Facility from Y9;
2.14. “Personal Information” shall have the same meaning as ascribed to it in the Data Protection Act of Tanzania; and
2.15. “Products” means various types of short-term loan credit facilities offered by Y9 Microfinance to Customers including Cash Loans, LATRA Loans, Utility Loans, Fuel Loans, Bill Payments Loans and Salary Loans etc.

3. ACCEPTANCE
3.1. Before applying for a Product, Customers acknowledge having read, understood and accepted the terms and conditions of this Agreement.
3.2. To be able to access the Products offered by Y9 Microfinance, Customers MUST be above the age of Eighteen (18) years with a valid Tanzania Citizen Identity Number.
3.3. If a Customer does not agree with these terms and conditions, Customers should not consent by clicking “Proceed” within the Y9 App.
3.4. By selecting ‘Proceed’ and applying for a Product, and or by using, or continuing to utilising the Product, it is deemed that the Customer has agreed to comply and be bound by the terms and conditions of this Agreement and any amendments / changes that may be made from time to time.
3.5. Customer further affirms that the terms and conditions do not constitute a waiver of any right that Y9 Microfinance may have in law or otherwise with respect to the credit facility.
3.6. Customers acknowledge and accept that your Loan Account(s) is / are only offered electronically, and you agree that the services will be performed electronically via the Y9 App.

4. CUSTOMER’S UNDERTAKINGS
4.1. Customers agree to enjoy the Product that Y9 Microfinance shall offer to the Customers pursuant to the terms and conditions of this Agreement;
4.2. Customer agrees to make the repayments pursuant to Schedule 1 of this Agreement of the Product utilised;
4.3. Customers expressly consent to the collection and use of Personal Information as far as the law allows;
4.4. Customers expressly consent to the sharing his/ her Personal Information with third parties such as credit reference bureaus but strictly limited to the following purposes:
4.4.1. Local or international law enforcement or competent regulatory or government agency to help prevent, detect, investigate or prosecute criminal activities or fraud;
4.4.2. Credit Reference Bureau to conduct credit checks and to assess qualifying limits. In addition, the Customer agrees that the credit reference Bureau may share your credit details with third parties; and
4.4.3. Third parties assessing Y9 Microfinance technical infrastructure, marketing, analytics and web development (to the extent required), subject thereto that any such third parties will be bound by confidentiality provisions and will have to comply with any applicable data protection laws.

5. ELECTRONIC SIGNATURE
5.1. Each party agrees that this Agreement and any other documents to be delivered in connection herewith shall be electronically signed, and that any electronic signatures or any ‘Opt-In’ verification appearing at the time of accepting this Agreement or such other documents are the same as handwritten signatures for the purposes of validity, enforceability, and admissibility as per the laws of Tanzania.

6. CREDIT SCORING
6.1. As part of the customer due-diligence process, Y9 Microfinance will do a background credit check of the Customer’s credit history. By consenting to enter this Agreement, the Customer consents to allow Y9 Microfinance to access his/her historical mobile data and credit history. Y9 Microfinance will use the information provided by the Customer or his/her mobile network operator or any other credit reference bureau only for the purpose of scoring and ascertaining the Customer’s credit status.

6.2. This Agreement and the Customer’s compliance with the Repayment Terms may determine eligibility for any other Services offered by Y9 Microfinance. Y9 Microfinance will perform an algorithm that will determine the Customer’s credit score based on various matters not limited to usage of telecommunication services, mobile money services, other transactions etc.

7. PRODUCTS OFFERED.
7.1. A Customer subject to the terms and conditions of this Agreement may apply for various types of Products offered by Y9 Microfinance using the Y9 App or if they are Whitelisted Customers proceed to apply and access the Products in the Y9 App.
7.2. The Products envisioned in this Agreement may include the following: –
a) Cash Loans;
b) Fuel Loans;
c) Bill Payments Loans; and
d) LATRA Loans.
7.3. Y9 Microfinance shall display in the Y9 App the limits available in case the Customer wishes to access multiple Products. Each Product shall have its own loan amount, fees, loan term and due date.
7.4. Y9 Microfinance may amend or vary the products mentioned above from time to time at its own discretion subject to sending a Notice to the Customers.

8. LOAN AMOUNT
8.1. The Loan amount eligibility shall depend on the credit score of the Customer. Upon the Customer consenting to the terms and conditions of this Agreement, Y9 Microfinance shall advise the Customer of the Loan Amount that the Customer can apply for.

9. INTEREST AND FEES
9.1. The Interest and Fees to be charged for each Product is listed as per Schedule 1 of this Agreement.

10. COLLATERAL
10.1. The Products to be offered pursuant to this Agreement shall be unsecured. The Customer is not required to place collateral as part of the loan agreement.
10.2. In the event of default, Y9 Microfinance may use all the legal debt recovery procedures to recover all the outstanding balances against the Customers.

11. REPAYMENT TERMS
11.1. Customers shall repay the Loan granted as the payment terms illustrated in Schedule 1 of this Agreement.
11.2. Customers may make the repayment of their loans through various means depending on the nature of the Customer who has accessed the loan as per the below:-
11.2.1. In case of a B2C Customer, the Customer shall make the payment to Y9 Microfinance mobile money wallet through a direct transfer;
11.2.2. In case of a B2B customer, the Customer’s employer shall make a deduction directly against the Customer’s net salary and transfer the monthly payments to Y9 Microfinance. In case a B2B Customer resigns or is terminated by his employer, Y9 Microfinance shall seek the loan repayments directly against the Customer’s terminal benefits from his employer. If the amount collected from the terminal benefits to cover the Customer’s outstanding liabilities against Y9 Microfinance is insufficient, the Customer hereby consents to make the payments on a daily basis as a normal B2C Customer of the residue outstanding liability;
11.2.3. In case of a B2G Customer, Y9 shall seek the payment directly from the Accountant General of the Ministry of Finance of Tanzania against the Customer’s monthly net salary; and
11.2.4. Y9 Microfinance may with the Customer’s consent which consent may not be unreasonably withheld seek to auto deduct the outstanding amount from the Customer’s mobile money wallet.
11.3. Y9 App will display a list of all outstanding liabilities of a Customer and a Customer may select a particular loan to repay either full or partial payment together with fees, if any.

12. EVENT OF DEFAULT
12.1. The following circumstances shall constitute an Event of Default:-
12.1.1. If the Customer fails to repay the Transaction Fees within 3 days after the Fees become payable;
12.1.2. If the Customer commits any breach of fails to observe, keep or perform any of the terms, conditions, covenants or any other provision of this Agreement; and
12.1.3. In case a Customer fails to disclose or provides false, misleading or incorrect information to Y9 Microfinance in his application for the Product or during the duration of this Agreement.

12.2. At any time after an Event of Default has occurred, Y9 Microfinance has the right to: –
12.2.1. Immediately suspend the operation of this Agreement;
12.2.2. Immediately following a Notice being sent to the Customer, Y9 shall terminate this Agreement. Such termination does not constitute waiver of any other rights available at law or otherwise to Power to recover losses;
12.2.3. Declare that all Transaction Fees (inclusive all fees and charges) and all other amounts outstanding under this Agreement payable. Y9 Microfinance shall take all the necessary recovery measures as prescribed by the law to recover all the outstanding liabilities due from the Customer, including appointment of a debt collection agency;
12.2.4. The Customer does hereby authorize the Company to submit such information to the Credit Reference Bureaus as per the requirements of the law.

13. TAXES
13.1. All repayments are inclusive of any taxes payable as required by the United Republic of Tanzania.

13.2. Customers hereby irrevocably grant Y9 Microfinance to revise the Transaction Fees upon any changes to taxes applicable.

14. EXEMPTIONS
14.1. Y9 Microfinance will not be liable for any delay or failure in performing any of its obligations in respect of the use of the Product where such delay or failure occurs because of any circumstances beyond our service’s reasonable control.

14.2. Y9 Microfinance will not be responsible for any loss or damage, negligently caused by or related to the Customers’ or related to the Customers’ application for or use of the Product.

14.3. Y9 Microfinance shall not be liable for non-performance of any of the provisions of this Agreement in the event and to the extent that such non-performance is the direct result of or has been directly caused by force majeure, which shall mean any event beyond the reasonable control of Y9 Microfinance and which could not reasonably have been foreseen by it at the date of signature of this Agreement. Y9 Microfinance or the Customer shall as soon as reasonably possible after becoming aware of the force majeure event, notify either party thereof, stating the nature, extent and expected duration of the same.

15. COMMUNICATION & COMPLAINTS
15.1. If you are not satisfied with any aspect of the service offered, please contact Y9 Customer Care Centre by calling 0800750260. They will be pleased to help and explain the complaints procedure in more detail. We will try and resolve your complaint as soon as possible. Often however, the complaint will need to be investigated. If this is the case, we will respond to you within 5 Business Days to acknowledge receipt of your complaint and we may respond to you how long it will take for your complaint to be resolved. If your complaint cannot be resolved you will be advised accordingly.