Welcome to the Tuma Loan mobile application (hereinafter "Application" or "Service"), provided by FUTURIS TECH LIMITED [Registration No: PVT-EY13PPP3] (hereinafter "we," "us," or "Tuma Loan"). These Terms of Use (hereinafter "Terms") govern your use of the Tuma Loan Application and related services. Please read and understand these Terms carefully. By using our Service, you agree to be bound by these Terms. If you do not agree, please do not use our Service.
1. Definitions
- Application: The Tuma Loan mobile application, available for download on the Google Play Store, used to provide personal loan services.
- User: An individual who registers and uses the Tuma Loan Service.
- Loan: A personal loan provided by Tuma Loan through the Application to eligible users, ranging from KSh 1000 to KSh 60,000, with terms of 91 to 360 days.
- Mobile Wallet: An active mobile payment account held by the user (e.g., M-Pesa), used for receiving loans and making repayments.
- Credit Assessment: The process by which Tuma Loan evaluates a user's creditworthiness based on provided information, credit history, and other relevant data.
2. Service Overview
Tuma Loan is a mobile loan application designed for Kenyan residents, offering fast and convenient personal loan services. We are operated by a Digital Credit Provider licensed by the Central Bank of Kenya (CBK), compliant with the Kenya Data Protection Act (2019) and Google Play Store Financial Services Policy.
3. User Eligibility
To use the Tuma Loan Service, you must meet the following conditions:
- Be at least 18 years old and have the legal capacity to enter contracts.
- Be a Kenyan resident with a valid identification document (e.g., ID or passport).
- Have an active mobile wallet account (e.g., M-Pesa).
- Pass Tuma Loan's credit assessment.
- Provide true, accurate, and complete information to complete registration and loan applications.
We reserve the right to refuse service to users who do not meet these conditions or provide false information.
4. Loan Application Process
- Download the Tuma Loan Application
- Register and complete identity verification using accurate information (e.g., ID number, phone number).
- Submit a loan application, providing required information for credit assessment.
- Upon approval, the loan amount will be disbursed directly to your mobile wallet account.
- You can view loan status, fee details, and repayment schedules in the Application.
Loan approval typically takes a few minutes, depending on the completeness of information and credit assessment results.
5. Loan Usage
You may use the loan for legitimate purposes, including but not limited to:
- Emergency expenses (e.g., medical bills, home repairs).
- Business growth (e.g., purchasing inventory, equipment).
- Personal expenses (e.g., education costs, shopping).
Prohibited Uses: Loans must not be used for illegal activities (e.g., gambling, money laundering, or terrorism financing). Violation of this policy may result in account termination, legal action, and reporting to relevant authorities.
6. Loan Fees and Repayment
Loan Fees
- Loans include principal, interest, and possible additional fees (e.g., service fees). Fees depend on your credit score, loan amount, and term. All fees are transparently displayed in the Application during the loan application process, with no hidden charges. You can review and confirm fee details before applying.
Credit Limit
- Initial credit limits range from KSh 1000 to KSh 60,000, determined based on your credit score, repayment history, and income.
- Timely repayments and maintaining a good credit record may increase your credit limit.
Repayment Methods
- Repayments are made via mobile wallet (e.g., M-Pesa), with instructions provided in the Application.
- Installment repayments are supported, allowing you to pay according to the repayment schedule.
- You may make full or partial early repayments at any time without additional fees. The minimum early repayment amount is displayed in the Application.
Repayment Failure
If a repayment fails (e.g., insufficient mobile wallet balance):
- Ensure sufficient funds in your account and retry the payment.
- Select an alternative payment method through the Application.
- Contact support@tumaloans.com for assistance.
7. Late Repayment and Default Consequences
Please repay on time to maintain your credit record. Late repayments will result in:
- Late Fees: Additional fees charged at a fixed rate, as displayed in the Application.
- Credit Bureau Reporting: Defaults may be reported to a Credit Reference Bureau (CRB) after 7 days, affecting your credit score.
- Collection Actions: We may engage third-party collection agencies to recover debts.
- Account Restrictions: Your account may be restricted during default, preventing new loan applications.
- Legal Action: We may pursue legal measures to recover outstanding amounts if necessary.
To restore credit, clear overdue loans and fees promptly and make timely repayments on future loans.
8. Data Protection and Privacy
We are committed to protecting your personal information, complying with the Kenya Data Protection Act (2019) and Google Play Store data security requirements. Our data handling measures include:
- Data Collection: We collect personal information required for registration, loan applications, and credit assessments (e.g., name, ID number, phone number, financial details).
- Data Use: Used for credit assessment, loan disbursement, repayment management, customer support, and legal compliance.
- Data Protection: Industry-standard encryption (e.g., SSL/TLS) is used to secure data transmission.
- Data access is restricted to authorized personnel only.
- Regular security audits ensure data safety.
- Data Sharing: Data is shared with third parties (e.g., credit bureaus, collection agencies) only as required by law or with your consent.
Your Data Rights
Under the Kenya Data Protection Act, you have the right to:
- Access your personal data held by us.
- Request correction of inaccurate or incomplete data.
- Request deletion of data no longer needed, where applicable.
- Withdraw consent for data processing (which may affect service usage).
9. User Responsibilities
You agree to:
- Provide true, accurate, and complete information for registration and applications.
- Safeguard your account credentials (e.g., password) and be responsible for all activities under your account.
- Notify us immediately of any unauthorized account use.
- Comply with Kenyan laws and these Terms.
- Not use loans for illegal or unauthorized purposes.
10. Service Termination
We may suspend or terminate your Service if you:
- Violate these Terms.
- Provide false or misleading information.
- Fail to repay loans on time.
- Engage in suspected illegal or fraudulent activities.
- Are required to do so by law or regulatory authorities.
Upon termination, you remain obligated to settle all outstanding loans and related fees.
11. Disclaimer
The Service is provided "as is," and we do not guarantee uninterrupted or error-free availability.
We are not liable for service disruptions caused by force majeure (e.g., technical failures, natural
disasters).
To the extent permitted by law, we are not liable for indirect or consequential losses arising from service use.
12. Governing Law and Dispute Resolution
These Terms are governed by Kenyan law.
Any disputes arising from these Terms or service use shall first be resolved through amicable negotiation. If
negotiation fails, disputes will be submitted to the courts in Old Mutual House,Kimathi Street, CBD, Nairobi
13. Changes to Terms
We may update these Terms periodically to reflect changes in our Service or legal requirements.
Updated Terms will be notified to you via the Application or email and will take effect upon posting.
Continued use of the Service constitutes acceptance of the updated Terms.
14. Contact Us
For questions, complaints, or data rights requests, please contact:
Email: support@tumaloans.com