Customer information
Terms of Use
Welcome to Consumer Lend Microfinance Bank (MFB) Limited. These Terms of Use govern your access to and use of our lending services, websites, mobile applications, and other platforms. By applying for a loan or accessing our services, you agree to be bound by these Terms.
1. Regulatory Compliance
Consumer Lend MFB Limited is licensed and regulated by the Central Bank of Nigeria (CBN). Lending operations, interest rates, fees, and collection practices are subject to applicable banking regulations.
2. Eligibility and Borrower Accounts
You must provide accurate and complete identity, contact, financial, and employment or business information. You must be at least 18 years old and provide a valid BVN and verifiable source of repayment.
3. Credit Assessment and Verification
You authorise Consumer Lend MFB to verify your identity and bank account, query approved credit bureaus, retrieve permitted financial information, and assess your creditworthiness.
4. Repayment Obligations and Fees
You must repay principal, interest, and disclosed fees according to the approved schedule. You authorise agreed repayment collection methods, including direct debit where applicable.
5. Accuracy and Decisions
Submitting an application does not guarantee approval. Materially false or misleading information may result in rejection, suspension, recovery action, or reporting as permitted by law.
1. Regulatory Compliance
Consumer Lend MFB Limited is licensed and regulated by the Central Bank of Nigeria (CBN). Lending operations, interest rates, fees, and collection practices are subject to applicable banking regulations.
2. Eligibility and Borrower Accounts
You must provide accurate and complete identity, contact, financial, and employment or business information. You must be at least 18 years old and provide a valid BVN and verifiable source of repayment.
3. Credit Assessment and Verification
You authorise Consumer Lend MFB to verify your identity and bank account, query approved credit bureaus, retrieve permitted financial information, and assess your creditworthiness.
4. Repayment Obligations and Fees
You must repay principal, interest, and disclosed fees according to the approved schedule. You authorise agreed repayment collection methods, including direct debit where applicable.
5. Accuracy and Decisions
Submitting an application does not guarantee approval. Materially false or misleading information may result in rejection, suspension, recovery action, or reporting as permitted by law.