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Digital Lending Terms & Conditions

Wendi Digital Lending Terms & Conditions

These Terms and Conditions (“Agreement”) apply to any subscriber of the Wendi digital lending services. By using this service, you confirm that you have read, understood, and accepted these Terms and Conditions, the Loan Schedule/Agreement, and the Privacy Policy as applicable from time to time.

If you do not agree with these Terms and Conditions, do not use the service.

Pearl Bank Uganda Limited (“PBU”) reserves the right to modify or update this Agreement at any time. Any modification shall become binding upon publication on www.pearlbank.co.ug or any Pearl Bank digital channel.

1. Definitions

  • Customer / You / Your – The person to whom the Wendi account belongs, including legal representatives.
  • Due Date – The date communicated by the Bank for repayment of the loan.
  • Interest – The cost of borrowing charged from loan disbursement to repayment.
  • Loan Amount – The amount disbursed to the Customer’s Wendi account.
  • Loan Schedule – A notice detailing the loan amount, repayment terms, fees, and charges.
  • Wendi Account – The Wendi mobile wallet or account.
  • Wendi Account Usage Data – Transactional data generated from use of the Wendi account.
  • MTN – MTN Uganda.
  • Airtel – Airtel Uganda.
  • Network – Mobile networks operated by MTN or Airtel.
  • Overdue Interest – Interest charged when repayment is late.
  • Personal Data – As defined under Uganda data protection laws.
  • Privacy Policy – https://www.pearlbank.co.ug/privacy-policy/
  • Repayment Period – Time agreed for repayment of the loan.
  • Services – Digital micro-credit loan services.
  • Service Provider – Partner delivering the lending platform.
  • The Bank – Pearl Bank (U) Limited.

2. General

  1. These Terms may be amended from time to time. Continued use constitutes acceptance.
  2. Loan agreements are executed electronically via the Wendi App.
  3. Credit approval is subject to the Bank’s internal credit policies.
  4. This Agreement may not be assigned.

Customer Support Channels:

By agreeing to these Terms, you consent to receive communications via SMS or WhatsApp.

3. Access and Use of Information

3.1 Access to Information

By applying for a loan, you authorise the Bank to access personal information, including your name, phone number, date of birth, and National ID or Passport number.

3.2 Credit Reference Bureau

You consent that the Bank may:

  • Access and share your credit information with Credit Reference Bureaus;
  • Collect and share identification and biometric data;
  • Issue positive or negative credit reports as required by law.

3.3 Disclosure of Personal Data

Your personal data may be disclosed to:

  • Regulatory and law enforcement agencies;
  • Courts, auditors, and legal representatives;
  • Third parties pursuant to lawful court orders.

3.4 Legal Notice

  • Provision of personal data is mandatory under Ugandan law;
  • Failure to provide required data may restrict access to services;
  • Data will be retained for at least ten (10) years after relationship termination.

3.5 Data Subject Rights

  • Right to access, rectify, or correct personal data;
  • Right to be notified before adverse credit actions;
  • Right to seek legal remedies for privacy violations.

4. Loan Agreement

Approved loans require electronic acceptance of a Loan Agreement. Funds will be disbursed to your Wendi account.

5. Repayment

  1. Loans must be repaid, including principal, interest, fees, and taxes.
  2. Amounts due may be auto-debited from your Pearl Bank account.
  3. Payments are applied in the following order:
    1. Fees
    2. Principal
    3. Interest
    4. Other charges
  4. Early repayment is available via the “Repay Loan” option.

6. Overdue Interest

If repayment is delayed, applicable interest and fees will apply and be communicated via SMS.

7. Default and Collection

If the loan remains unpaid for ninety (90) days after the due date:

  • You will be notified by SMS;
  • Your details may be reported to Credit Reference Bureaus.

8. Privacy and Security

By using the Service, you consent to the collection, processing, and sharing of personal data for service delivery, compliance, and credit assessment.

9. Termination and Suspension

The Bank may suspend or discontinue the Service at any time without liability for losses incurred.

10. Disclaimer and Limitation of Liability

The Service is provided “as is” and “as available”. Use of the Service is entirely at your own risk.

11. Capacity to Contract

You confirm that you are at least 18 years old and legally capable of entering into contracts.

12. Governing Law

These Terms and Conditions are governed by the laws of the Republic of Uganda.

13. Intellectual Property

All intellectual property rights remain vested in the Bank or its licensors. Unauthorised reproduction or tampering is prohibited.

END OF TERMS AND CONDITIONS

© 2025 Pearl Bank Uganda. All Rights Reserved. Pearl Bank Uganda Limited is regulated by Bank of Uganda. Customer deposits are protected by the Deposit Protection Fund of Uganda up to 10 Million Shillings, Terms and conditions apply.