Terms of Service

1. What AvenaHold is and is not

AvenaHold is a savings ledger and loan-facilitation tool modelled on the informal savings groups already widely practised across Uganda.

AvenaHold is not a bank, not a licensed deposit-taking institution, not a microfinance institution, and not a securities or investment platform. It does not hold member funds directly. All payments are processed by a licensed third-party payment gateway; AvenaHold maintains the ledger.

Using AvenaHold means digitising an informal savings arrangement you and your group members have already agreed to among yourselves.

2. Payments and fees

AvenaHold currently operates on an evidence-based payment model. Members submit deposits and loan repayments by pasting the confirmation SMS they receive from their mobile money provider, or by declaring a cash payment to the Group Lead or Treasurer. A Group Lead or Treasurer then reviews the evidence and confirms or rejects it in the app. AvenaHold does not process payments directly — money moves outside the app through mobile money or cash.

There is currently no subscription fee and no platform transaction fee. If fees are introduced in the future, the exact amount will be shown to you before you confirm any transaction.

3. Interest and penalties

Loans carry interest set by each group administrator. The platform default is 5% per loan term; groups may change this. Interest is calculated on the principal and repaid in monthly instalments over a term agreed at loan approval.

If an instalment is missed, a penalty is calculated on the shortfall only — not the full outstanding balance. The default penalty rate is 10% of the missed amount; groups may configure a different rate. Interest repaid flows back into the group pool.

4. Identity — no verification

AvenaHold does not verify member identity beyond requiring a Google account to sign in. The name displayed in the app is the name each member enters — not verified against any government registry.

Trust within a group is your group's own responsibility, the same as it is in an offline savings group. Only add people you know personally.

5. Verifying your own transactions

Because AvenaHold uses evidence-based confirmation (SMS text or cash declaration), the confirmation SMS you paste into the app is the authoritative record linking a payment to a confirmed deposit or repayment. Keep your original mobile money messages.

If a payment shows as confirmed in AvenaHold but is not visible in your mobile money history, contact your mobile money provider first. If the discrepancy cannot be resolved, contact AvenaHold support through the app.

5a. Overpayments

If a member submits a loan repayment for more than the outstanding balance, the excess amount (overpayment) is flagged by the system. The member may choose to apply the excess as a savings contribution or request that it be returned in cash or via mobile money by the Group Lead or Treasurer. AvenaHold records the choice but does not move the funds — the physical return or credit is handled outside the app by group officers.

6. Cycle share-out (fixed-cycle groups)

Groups that opt into a fixed savings cycle receive payouts when the cycle closes. A payout only occurs once all outstanding loans in the group are fully settled. Payouts are proportional to each member's contribution share. Transfer fees per section 2 apply to each payout.

7. Account suspension and group removal

Tymzi Hub Ltd may suspend or terminate access to AvenaHold for fraud, abuse, or violation of these terms. Where possible, affected members will be notified before suspension takes effect.

Suspension does not erase contribution or loan records — the group's ledger history is preserved. Any unresolved loan obligations at the time of suspension remain the member's responsibility and are visible to the group administrator.

8. Governing law

These terms are governed by the laws of Uganda. This document does not assert any specific regulatory status or licensing category — that determination requires legal advice under Ugandan law.