Privacy Policy

Privacy Policy for SaveVest Limited

Effective Date: 1st of January 2024

Welcome to SaveVest Limited (“SaveVest”, “we”, “our”, “us”). Your privacy and trust are important to us, and we are committed to protecting your data while providing secure, seamless, and efficient savings services. This Privacy Policy outlines the procedures, benefits, disclaimers, and details of our services, including Ajo (Thrift Savings), Target Savings, Group Target Savings, and Wallet features. Additionally, it explains your rights, including how to delete your account.

1. Information We Collect

Personal Data:

We collect the following types of personal data:

  • Name
  • Email address
  • Phone number
  • Date of birth
  • Bank verification number (BVN)
  • Payment and transaction details
  • Savings preferences

Usage Data:

We collect information on how you interact with our app, including device information, IP address, and usage analytics.

Cookies and Tracking:

Our app uses cookies and similar technologies to improve user experience.

2. How We Use Your Information

We use your information to:

  • Create and manage your account.
  • Facilitate savings plans and transactions.
  • Ensure compliance with legal and regulatory requirements.
  • Improve app functionality and customer support.
  • Communicate updates, promotional offers, and important notifications.

3. Breakdown of Savings Services

Ajo (Thrift Savings):

  • Procedure: Participants join a savings group and contribute a fixed amount at agreed intervals. Members take turns receiving the pooled funds.
  • Benefits: Encourages discipline and provides access to lump sums for personal or business needs.
  • Disclaimers: Participation is subject to group agreements, and payouts depend on adherence to contribution schedules.
  • Operational Value: Minimum contribution is ₦10,000.00; payouts rotate based on agreed terms.
  • Do’s and Don’ts:
    • Do: Commit to your savings schedule.
    • Don’t: Default on contributions to avoid penalties or exclusion.

Target Savings:

  • Procedure: Users set a financial goal, specify a duration, and make periodic contributions.
  • Benefits: Helps users save toward specific goals with potential interest accrual.
  • Disclaimers: Early withdrawal may incur penalties or affect interest rates.
  • Operational Value: The minimum savings threshold is ₦1000; interest rates are 2.5% per annum.
  • Do’s and Don’ts:
    • Do: Stay consistent with your contributions.
    • Don’t: Withdraw prematurely unless necessary.

Group Target Savings:

  • Procedure: Multiple users collaborate to save toward a common goal.
  • Benefits: Fosters teamwork and shared financial discipline.
  • Disclaimers: Group withdrawals require unanimous consent or adherence to group rules.
  • Operational Value: Minimum group contribution is ₦10,000.00.
  • Do’s and Don’ts:
    • Do: Engage in transparent communication with group members.
    • Don’t: Misuse group funds or fail to honor commitments.

Wallet Features:

  • Procedure: Users can store, transfer, and withdraw funds via the in-app wallet.
  • Benefits: Provides secure, quick, and flexible financial transactions.
  • Disclaimers: Wallet funds are non-interest-bearing.
  • Operational Value: Minimum wallet balance is ₦1,000.
  • Do’s and Don’ts:
    • Do: Use wallet features responsibly.
    • Don’t: Share wallet credentials with unauthorized persons.

4. Account Deletion

Steps to Delete Your Account:

  1. Log into the SaveVest mobile app.
  2. Navigate to the “Settings” section.
  3. Select “Account Management.”
  4. Click “Delete Account” and follow the prompts.
  5. Confirm your request via email or OTP verification.

Upon account deletion:

  • Your data will be removed from our system within 30 days, except as required by legal or regulatory obligations.
  • Outstanding savings balances must be resolved before account deletion.

5. Security Measures

We implement advanced encryption, secure servers, and authentication protocols to protect your data. However, no system is 100% foolproof; users are encouraged to safeguard their login credentials.

6. Updates to the Privacy Policy

We may update this policy periodically. Changes will be communicated via in-app notifications or email. Continued use of our services after updates indicates acceptance of the revised policy.

7. Contact Us

If you have questions or concerns about this Privacy Policy, contact us at:

SaveVest Limited
Address: 2a, Lateef Jakande Road, Agidingbi, Ikeja, Lagos State.
Email: support@savevesting.com, savevestsavers@gmail.com
Phone: +234(0)703-149-4931

Thank you for choosing SaveVest. Together, let’s achieve your financial goals!