Terms of Service & Privacy Policy

Part 1: Terms of Service

1. Introduction

Welcome to Swelve Lending Technologies ("Swelve", "we", "our", or "us").

Swelve operates a digital financial support platform designed to provide short-term allowance advances to eligible students enrolled in public higher learning institutions in Zambia who receive allowances administered through the Higher Education Loans and Scholarships Board (HELSB).

By creating an account, accessing, or using the Swelve mobile application (the "App"), you agree to be legally bound by these Terms of Service. Please read them carefully before proceeding.

2. Definitions

The following terms shall have the meanings set out below throughout this Agreement:

3. Eligibility

To be eligible to use Swelve services, you must satisfy all of the following criteria:

• Be at least 18 years of age;
• Be currently enrolled in a recognized public higher learning institution in Zambia;
• Be an active beneficiary of HELSB student allowances;
• Provide valid identification and accurate account information at the time of registration.

Swelve reserves the right to verify eligibility at any time and to suspend or terminate access for users who do not meet these requirements.

4. Account Registration

To register for a Swelve account, you are required to provide accurate and complete information including, but not limited to:

• Student identification details;
• Institutional registration information;
• Valid contact information (phone number and/or email address);
• Allowance-receiving account details (mobile money or bank account).

You are responsible for maintaining the confidentiality of your account credentials. Swelve shall not be liable for any unauthorized access resulting from your failure to secure your account.

5. Purpose of Service

Swelve provides short-term financial advances intended to assist students during delays in HELSB allowance disbursement, thereby reducing reliance on collateral-based or informal lending arrangements.

Important Notice: Swelve operates independently and is not affiliated with, nor does it act as an agent of, the Higher Education Loans and Scholarships Board (HELSB).

6. Advance Amount & Borrowing Cycles

The following limits apply to all advances issued through the Swelve platform:

7. Service Fees & Charges

Swelve charges a service fee equivalent to 15% per month on all approved advances.

This fee is calculated on the outstanding advance amount and is deducted at the time of repayment. Users are encouraged to review all applicable fees before accepting an advance.

8. Repayment Authorization

By accepting an advance, you expressly authorize Swelve to recover all outstanding amounts — including the principal advance and applicable service fees — once your HELSB allowance funds are credited to your registered account.

9. Automatic Deduction Consent

You expressly consent to automatic repayment deductions from the account registered with Swelve for receiving HELSB allowances. This authorization remains in effect for the duration of any outstanding advance.

10. Default & Non-Payment

Failure to repay an outstanding advance may result in one or more of the following consequences:

• Temporary or permanent suspension of platform access;
• Referral to lawful debt recovery procedures under applicable Zambian law;
• Reporting to relevant credit reference bodies, where applicable.

Swelve will make reasonable attempts to contact users prior to initiating any recovery action.

11. Governing Law

These Terms of Service shall be governed by and construed in accordance with the laws of the Republic of Zambia. Any disputes arising from or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of Zambia.

12. Contact Information

For inquiries, support, or complaints relating to these Terms, please contact us:

Part 2: Privacy Policy

1. Introduction

Swelve Lending Technologies is committed to protecting the privacy and personal data of all users. We comply with Zambia's Data Protection Act, 2021, and apply best practices to ensure that your personal information is handled responsibly, securely, and transparently.

2. Information We Collect

We collect the following categories of information to deliver and improve our services:

Personal Information

• Full name
• National Registration Card (NRC) number or student identification number
• Institutional enrollment details
• Phone number

Academic & Allowance Information

• HELSB account number
• Allowance verification data

Financial Information

• Mobile money account details
• Bank account details (where applicable)

Technical Information

• Device identifiers
• Application usage and activity data

3. Purpose of Data Collection

Personal data is collected solely for the following legitimate purposes:

• To confirm user eligibility for advance services;
• To process and disburse advances efficiently;
• To enable seamless repayment processing;
• To prevent fraud and ensure platform security;
• To improve service delivery and user experience.

4. Data Sharing

Swelve does not sell or rent your personal data to third parties. We may share your information only in the following limited circumstances:

• With payment processors required to facilitate advance disbursement and repayment;
• With regulatory authorities, as required by applicable Zambian law;
• With authorized service providers who support our operations, subject to appropriate data protection agreements.

5. Data Security

Swelve implements appropriate technical and organizational measures to protect your personal data from unauthorized access, loss, or disclosure. Our security measures include:

• End-to-end encryption of sensitive data in transit and at rest;
• Restricted staff access controls based on the principle of least privilege;
• Secure authentication systems for platform access.

While we take every reasonable precaution, no system is entirely risk-free, and we encourage users to safeguard their own account credentials.

6. Data Retention

User data is retained for as long as an account remains active and for such additional period as may be required under applicable law or for legitimate operational purposes. Upon account closure and completion of all repayment obligations, we will take appropriate steps to delete or anonymize your data in accordance with legal requirements.

7. Your Rights

In accordance with Zambia's Data Protection Act, 2021, users have the right to:

• Access their personal data held by Swelve;
• Request correction of inaccurate or incomplete information;
• Request deletion of personal data, subject to the completion of all repayment obligations and applicable legal requirements.

To exercise any of the above rights, please contact us using the details provided below.

8. Data Protection Contact

For any data protection queries, concerns, or to exercise your rights, please contact our Data Protection team: