Terms and Conditions: Know the Rules of Engagement
Please read these Terms and Conditions carefully. This Agreement sets out the legally binding terms governing your membership. By joining Smart Vault Multipurpose Cooperative Society Limited, you confirm that you understand and agree to all the terms stated herein.
Mode of Payment: Safe and Secure
Smart Vault Multipurpose Cooperative Society Limited does not accept payments via bank transfer, deposits, cheques, bank drafts, or cash through any Agent, Consultant, or Associate.
All payments must be made through the officially designated payment channels in favor of Smart Vault Multipurpose Cooperative Society Limited. The Cooperative shall not be liable for any loss arising from failure to comply strictly with this payment policy.
Smart Vault MCSL does not accept payment from a third party account, all payments should be made from accounts that clearly shows the member's full name for security purposes.
Yearly Returns and Profit Sharing
Upon reaching the one-year savings target, a member may request any of the following:
- Capital plus profit share
- Capital only
- Profit share only
Requests must be made via customer care or official email. A 5% service charge will be deducted from the profit value at the end of the tenure to cover bank and administrative charges.
Termination: Understanding Your Options
For personal or business reasons, neither party may terminate this Agreement before or within the first three (3) months from the effective date.
A written notice of termination must be submitted at least two (2) months prior to the intended termination date. Any termination before maturity will result in forfeiture of all accrued profit share.
Fraud and Illegality: Playing by the Rules
The Cooperative shall not be liable for any damages, whether under tort, criminal law, or other applicable laws of the Federation, arising from funds deposited that are illegal or questionable in nature.
Right to Update: Adapting to the Market
Smart Vault Multipurpose Cooperative Society Limited reserves the right to update or modify its policies at any time in response to industry and market changes.