Basics you need to know about your Rhapsody Account

When you open an account with us, you are setting up an agreement between Rhapsody Finance Ltd and yourself. Below is the short version of the legal terms for use of the Rhapsody app.

1. Customer’s Consent
You consent and agree to the following in this Agreement.

(a). Sending you information through emails, social  media, or the Rhapsody App.
(b). Reviewing your credit report from time to time.
(c). Debiting your account to reduce or pay off debt  you owe us.
(d). Our sharing the information you have given us  so we can provide you with our services

2. Condition for use of Rhapsody account
To open a Rhapsody account, you must
(a) agree to our terms and conditions;
(b) register on the app;
(c)be a Nigerian citizen or legal resident, and
(d) be at least 18 years old.

We may need you to provide some additional information which will allow us to identify you, and meet our obligations under law

3. Lending Terms
If you apply for a loan, you agree to repay the loan amount, including any fees. We will take the money from either your Carbon account, the debit card provided by you, or by bank transfer

4. Our responsibility to you
If you qualify for a loan, we will make the loan available to you within a reasonable time.  If you do not make your payments on time, or break your agreement with us, we will try to collect the money, using legal means, including reporting you to the Central Bank of Nigeria.

5. Investment Terms
When you save on any plan, we will email you a separate agreement which will set out the terms of your investment.  If you decide to save in fixed plan, and you wish to withdraw your money before the agreed date there will be a 20% pre-liquidation charge on the interest accrued.

6. Payment Terms
You can transfer money to any third party bank, using your Rhapsody Account. Always make sure you have enough money in your account, so the payment can go through.

7. Closing your account
Please contact us, if you want to close your account. You will need to pay us any money you owe us before we close your account. If we decide to close your account we will notify you first but, we may close your account without informing you, if we believe that you have given us false information, committed or tried to commit a crime, or acted against this agreement.

8. General Terms
We will update these terms and conditions from time to time, and will notify you once we have done so. If you are not happy with the changes, and choose to close your account, please let us know. If you choose to keep your account, it means you have accepted our terms

9. How we shall contact you
We shall contact you through the phone number you provided to us, or through notifications on your device. If you have any questions, complaints, or claims, please contact us at help@rhapsodyfinance.com or using our verified social media channels.

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Rhapsody is a trade name of Shanono Microfinance Bank.

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