1. Introduction

   1. These terms and conditions govern the operation of the Kolo-Ajo savings account offered by Alert Microfinance Bank.
   2. By registering and opening a Kolo-Ajo savings account, the customer agrees to abide by these terms and conditions.

2. Account Opening and Registration

   1. To open a Kolo-Ajo savings account, customers must complete the registration process provided by Alert Microfinance Bank.
   2. Customers must provide accurate and up-to-date information during the registration process.
   3. The bank reserves the right to accept or reject any account opening application at its discretion.

3. Savings Plan

   1. Customers have the option to choose a savings plan that suits their financial goals.
   2. The customer can make deposits into the Kolo-Ajo account via Debit card, Direct Transfer to the account number provided by the bank, or through Direct Debit as authorized by the customer.
   3. The bank may offer varying interest rates or benefits based on the chosen savings plan, subject to the bank's policies.

4. Funding the Account

   1. Deposits can be made by the customer using approved methods as specified by Alert Microfinance Bank.
   2. The bank is not liable for any delays or issues arising from third-party payment processors or banks during the funding process.

5. Withdrawals & Access

   1. Customers can access their funds according to the terms specified in the chosen savings plan.
   2. Withdrawals may be subject to certain conditions, including minimum balance requirements, notice periods, or withdrawal fees as per the account type.
   3. Customers are responsible for ensuring that sufficient funds are available in the account to cover any scheduled withdrawals or deposits.

6. Account Management

   1. Customers are responsible for the security of their account details, including login credentials and personal information.
   2. Alert Microfinance Bank may provide online access or mobile applications for managing the Kolo-Ajo savings account. The customer must comply with the bank's usage guidelines.

7. Fees & Charges

   1. The bank may impose fees, charges, or penalties for specific services, transactions, or non-compliance with account terms.
   2. Customers will be notified of any applicable fees/charges through the bank's official communication channels.

8. Account Closure

   1. Customers may close their Kolo-Ajo savings account by providing written notice to the bank, subject to any applicable terms and conditions.
   2. The bank reserves the right to close an account or suspend services if there is evidence of fraudulent activity or violation of the terms and conditions.

9. Changes to Terms & Conditions

   1. Alert Microfinance Bank reserves the right to modify or update these terms and conditions, and customers will be notified of any changes through appropriate channels.
   2. Continued use of the Kolo-Ajo savings account after changes to the terms constitutes acceptance of the updated terms and conditions.

10. Governing Law

    1. These terms and conditions shall be governed by and construed per the laws of the Federal Republic of Nigeria, the CBN, and the NDIC.

11. Contact Information

    1. For inquiries, assistance, or complaints regarding the Kolo-Ajo savings account, customers can contact Alert Microfinance Bank through its official communication channels.

By opening a Kolo-Ajo savings account, I acknowledge and agree to be bound by these terms and conditions.