On our loan Credit Line borrowings, Tala charges interest ranging from 0.3% – 0.6% daily and an APR of 109.5% – 219.0%. The applicable interest is determined on a risk-based pricing approach. Additional terms and conditions apply.
The following terms and conditions apply to the Tala Credit Line (the “Service”) and by clicking accept and utilizing this service you will be deemed to have read, understood and accepted the same.
This Credit Line Agreement (this “Agreement”) is between You and InVenture Mobile Limited (“Tala”), which provides the Tala App in Kenya. In consideration of you agreeing to abide by the terms of this Agreement, Tala intends to grant you a Credit Line in accordance with the provisions of this Agreement.
For the purposes of this Agreement, the following terms, whether used in the singular or plural, in upper or lower case, or in masculine or feminine, shall have the following meanings:
“Additional Expenses” means any benefits, ancillary expenses, interest charges, fees and/or other expenses incurred by Tala related to the Credit Line.
“Applicable Data Protection Regulation” means any law, statute, rule, or regulation issued by a governmental authority in relation to data protection and applicable to Tala by virtue of its operations and activities, including but not limited to the Kenyan Data Protection Act, 2019 and the related implementing regulations.
“Application” means the application for a credit line made by you on the Tala App, which has been reviewed, evaluated, selected, qualified and, if applicable, approved by Tala, subject to its internal policies and applicable regulations.
“Borrowed Amount” means the total amount of any Borrowings advanced by Tala to you under the Credit Line that have not been repaid.
“Borrowing” means any amount that is disbursed by Tala to you under the Credit Line in accordance with this Agreement.
“Cover Page” means the “Accept your Terms” page set forth in the Tala App at the time you clicked the “Accept” button within the Tala App and if the “Accept your Terms” page is not available, the “Tala Limit Summary” page for the Credit Line.
“Credentials” means the Customer’s unique authentication details on the Tala App.
“Credit Bureau” means a Credit Reference Bureau duly licensed under Banking Act CAP 488 Laws of Kenya pursuant to the Banking (Credit Reference Bureau) Regulations, 2013, as amended, revised or promulgated
from time to time, to inter alia, collect and facilitate the sharing of customer credit information.
“Credit Limit” means the maximum amount of Borrowings that may be outstanding under the Credit Line at any one time, as set forth on the Cover Page.
“Credit Line” means the line of credit that is granted by Tala to you in accordance with this Agreement in an amount not to exceed the Credit Limit.
“Customer” means any person who has downloaded the Tala App and has accepted this agreement.
“Disbursement Date” means, with respect to any Borrowing, the date on which such Borrowing is disbursed to you in accordance with the terms of this Agreement.
“Due Date” means the date selected by You on the Tala App and set forth on the Cover Page as the last date on which the Total Payable Amount shall be paid in accordance with this Agreement.
“E-money” means monetary value as represented by a claim on its issuer, that is
“Equipment” means your mobile phone handset, SIM Card and/or other equipment which when used together enables you to access any Network.
“Grace Period” means seven (7) calendar days following the Maturity Date.
“Interest” means the charges applicable to the Credit Line to be charged by Tala to you, which shall be calculated and shall be payable in accordance with Clause Seven hereof.
“Late Payment Interest” means the interest charge set forth on the Cover Page, which shall be payable in accordance with Clause Seven hereof.
“Mobile Money Account” your mobile money store of value, being the record maintained by the related Mobile Money Providers in Kenya of the amount of e-Money from time to time held by you in such Mobile Money Provider’s System.
“Mobile Money Service” means the money transfer and payments service operated by the Mobile Money Providers in Kenya.
“Mobile Money System” means the system operated by the Mobile Money Providers in Kenya to provide the Mobile Money Service.
“Mobile Money Provider” means a mobile network operator registered with the Communications Authority of Kenya.
“Network” means a mobile cellular network operated by a Mobile Money Provider.
“Personal Data” means personal identifiable information of any natural person as prescribed in the Kenya Data Protection Act, 2019, which information includes but is not limited to name, address, phone number, identification number, location data, date of birth, gender, transaction data, an online identifier or information relating to one or more factors specific to the physical, psychological, genetic, mental, economic, cultural or social identity of such person. It also includes Sensitive Personal Data.
“Privacy Notice” means the Tala Channel Privacy Notice (available within the Tala App and on the Tala website) that sets out how we use your Personal Data after you have downloaded the Tala App.
“Relevant Information” means information including, but not limited to, data relating to your phone (including, without limitation, your phone’s history) from your Equipment, from any SMS sent to you by the Mobile Money Providers and any financial service providers relating to your use of the Mobile Money Service and such other information as We shall require for purposes of providing the Services.
“Sensitive Personal Data” means data revealing any natural person’s race, health status, ethnic, social origin, conscience, belief, genetic data, biometric data, property details, marital status, family details including names of the person’s children, parents, spouse or spouses, sex or the sexual orientation of such person.
“Tala App” means the technological interface maintained by Tala in which you are registered, and which can only be accessed by you by using your Personal Identification Number.
“Tax” means the Value Added Tax, excise duty or any other tax related to the Credit Line that may be payable from time to time in accordance with the tax legislation in force.
“Term” means the period from the initial Disbursement Date to and including the related Due Date, as set forth on the Cover Page.
“Total Payable Amount” means an amount equal to the sum of the following items: (i) the Borrowed Amount; (ii) the Interest; (iii) any Tax and (iv) any Additional Expenses.
“We / Tala / Us” means InVenture Mobile Limited
“You” or “your” means the Customer and includes the personal representatives of the Customer.
Subject to the terms and conditions of this Agreement, Tala grants to you a Credit Line from which you can make one or more Borrowings. Subject to the limitations set forth herein, any Borrowing shall be disbursed by Tala to you, under the terms of Clause Four, by means of transfer of immediately available funds into your Mobile Money Account.
You acknowledge that each Borrowing shall be deemed to be disbursed when such amount is disbursed to your Mobile Money Account.
In consideration of you agreeing to abide by the terms of this Agreement, we grant you a non-transferable, non-exclusive license to use the Tala App on your Equipment, subject to this Agreement. We reserve all other rights.
Except as expressly set out in this Agreement, you agree not to:
You also agreed to comply with all technology control or export laws and regulations that apply to the technology used or supported by the Tala App or the Service.
You are not permitted to do any of the following:
Subject to the conditions in this Agreement, each Borrowing shall be made available to you upon request through the Tala App.
The Cover Page will set forth the specific terms and conditions of your Credit Line. You may request that Tala disburse your Credit Line to you in one or more Borrowings. Prior to the Due Date, if you are in compliance with all of your obligations hereunder and the Credit Limit has not been exceeded, you may continue requesting Borrowings under the terms of this Clause Four provided that (i) no Borrowing may mature on a date beyond the Due Date and (ii) the Borrowed Amount shall not exceed the Credit Limit. Tala shall transfer each Borrowing to your Mobile Money Account. You expressly, unconditionally and irrevocably accept and agree to pay to Tala the Total Payable Amount in accordance with Clause Six and Seven below.
You accept and acknowledge that disbursement of any Borrowing to your Mobile Money Account shall be proof of receipt of such Borrowing by you.
Notwithstanding the grant of any Borrowing to you and any other provision of this Agreement, You understand that Tala may deny any request for any Borrowing you might make, even if you have satisfied all conditions for the disbursement of such Borrowing. Any such denial will be solely in Tala’s discretion, and could occur as a result of market conditions, availability of Tala’s funding sources or for any other reason. You expressly and unconditionally accept and acknowledge Tala’s right to deny a request for any Borrowing as described in this paragraph.
When you make a request for the Credit Line on the Tala App, your application shall be appraised according to the applicable credit appraisal processes of Tala. Tala reserves the right at its sole discretion and without assigning any reason to approve or decline any Application that you make.
You agree that any disbursement of a Borrowing to You is conditioned on there being no amount owed by You to Tala on account of any prior credit lines, any related fees, any related interest charges or any related Additional Expenses. Therefore, Tala may reject the disbursement of any Borrowing to You if You have not fully paid any amount under this Agreement or under any other agreement with Tala.
You shall not at any time operate or use the Service in any manner that may be unlawful or prejudicial to Tala.
You agree to pay the Total Payable Amount to Tala by or on the related Due Date.
You shall pay the Total Payable Amount on or before the related Due Date in accordance with the terms and conditions of this Agreement, otherwise You will be required to pay Late Payment Interest in accordance with
You shall make payments under this Agreement through any of the means established by Tala for such purpose and identified by Tala to You.
In the event Tala is not in receipt of your payment, we will require you to provide proof of the true copy of the payment details of such payment before we can update your account on the Tala App.
Tala shall have the right to charge you the following interest charges:
Tala retains the discretion to vary the charges prescribed under Clause Seven subject to changes in the amount of Tax payable.
All payments to be made by you in connection with this Agreement are calculated without regard to any Taxes. If any Tax is payable in connection with the Credit Line, you must pay Us an additional amount equal to the appropriate rate of such Tax. You must do so at the same time that you make any related payment on the Credit Line.
You agree to pay all other interest charges, fees, expenses, taxes, duties and impositions incurred by Tala in complying with your requests.
You hereby agree to pay costs, charges and expenses incurred by Us in obtaining or attempting to obtain payment of any amounts you owe under the Credit Line.
Prepayments: You may prepay the Credit Line in whole or in part at any time before the related Due Date without incurring any penalty as long as you are in compliance with all of your obligations herein. Tala reserves the right to set a minimum amount for partial prepayments, which will be disclosed by Tala to You.
Upon the making of any prepayment in part (but not in whole), the Credit Limit shall be restored (in the same amount of such prepayment) and you shall be able to request additional Borrowings up to the amount of the
Credit Limit in accordance with Clause Four.
If you want to prepay the Credit Line in whole, you shall pay to Tala the Total Payable Amount as of the date of such prepayment. Upon such prepayment, the Credit Line shall be terminated, but you may request a new Credit Line from Tala on the Tala App.
Once such prepayment is credited as prescribed in this Agreement, Tala shall update the balance statement of the Credit Line to reflect the prepayment made by you. Tala shall make such statement available to you through the Tala App.
Each time you make a prepayment either in whole or in part, Tala will make a receipt of such payment available to you through the Tala App.
You will be able to view the balance of any outstanding Credit Line and a history of all Applications made by You and a history of all amounts paid by You to Tala at any time through the Tala App.
In the event that you do not agree with any of the balances, transactions or other information provided by Tala to you, please contact our customer care center through the Tala App or via email at email@example.com.
We, upon receiving a complaint, shall provide the complainant with a prompt response and resolve the complaint within thirty (30) days.
Applicable tariffs will be charged by your telephone and internet service provider (s) when communicating with the Customer Care Centre.
You authorize Us to act on all requests received from you (or purportedly from you) through the Tala App and to hold you liable in respect thereof, even if that request is otherwise for any reason incomplete or ambiguous if, in our absolute discretion, We believe that it can correct the incomplete or ambiguous information in the request
without any reference to you being necessary.
We shall be deemed to have acted properly and to have fully performed all the obligations owed to you notwithstanding that the request may have been initiated, sent or otherwise communicated in error or fraudulently, and you shall be bound by any requests on which We may act if We have in good faith acted in the belief that such instructions have been sent by you.
You acknowledge that we may nevertheless refuse to carry out any requests in our sole and absolute discretion, including the right to reject any request in relation to any Application from you even if we have previously granted a Credit Line to you.
You agree to and shall release from and indemnify Us against all claims, losses, damages, costs and expenses, howsoever arising in consequence of, or in any way related to Us having acted (or failed to act) in accordance with the whole or any part of any of your requests.
We are authorized to affect such orders in respect of the Service and your use of the Tala App as may be required by any court order or competent authority or agency under applicable laws.
In the event of any conflict between any terms of any request received by Us from you and this Agreement, this Agreement shall prevail.
Tala reserves the right to amend or vary this Agreement from time to time. Such amendment or variation will take effect within thirty (30) days from the date of notification of the update or amendment at which time you may access the Tala App to view the related changes. Tala will provide the modified version of this Agreement for your reference on Tala’s website (https://tala.co.ke/).
Your consent to any modifications made by Tala to the Cover Page shall be required and obtained by clicking the “Accept offer” button within the Tala App.
Any modifications to this Agreement that are required to adapt this Agreement to new regulatory provisions are exempted from the provisions of this Clause Twelve. In such cases, Tala shall notify you through the Tala App that information regarding the relevant changes can be accessed through the Tala App.
Tala may modify or charge additional interest or fees in addition to those established in this Agreement or the Cover Page, with prior notification to You.
You confirm and acknowledge that Tala may from time to time request and provide information to any Credit Reference Bureau regarding your credit history as well as obtain the corresponding reports.
If we intend to submit a negative credit report to a Credit Reference Bureau for your breach of the provisions of this Agreement, we shall provide you with seven (7) days’ notice prior to such submission. After providing You with this notice, we shall notify you within 30 days of submitting a negative report that such a report has been submitted to any Credit Reference Bureau.
You agree that you shall:
You further agree that you shall immediately inform Us in the event that you have reason to believe that:
You acknowledge that the intellectual property rights in the Tala App (and any amendments, upgrades or enhancements thereto from time to time) and all associated documentation that Tala provides to you through the Tala App or otherwise are vested either in Tala or in other persons from whom Tala has a right to use and to sub-license the Tala App and/or the said documentation. You shall not infringe any such intellectual property rights. You shall not duplicate, reproduce or in any way tamper with the Tala App and associated documentation without the prior written consent of Tala.
Tala shall not be responsible for any loss suffered by you should the Service be interfered with or become unavailable by reason of (a) the failure of any of your Equipment, or (b) any other circumstances whatsoever not within Tala’s control, including, without limitation, force majeure or error, interruption, delay or non- availability of the service as a result of any terrorist or any enemy action, equipment failure, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.
We will not be liable for any losses or damage suffered by you as a result of or in connection with:
If for any reason other than a reason mentioned in the subparagraphs above, the Service is interfered with or unavailable, Tala’s sole liability under this Agreement in respect thereof shall be to re-establish the Service as soon as reasonably practicable.
Except as provided in the subparagraphs above, Tala shall not be liable to you for any interference with or unavailability of the Service, howsoever caused.
In the event of your death, your obligations under this Agreement shall vest in your personal representative.
All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.
In consideration of Tala complying with your instructions or requests in relation to the Service, you undertake to indemnify Tala and hold it harmless against any loss, charge, damage, expense, fee or claim which Tala suffers or incurs or sustains thereby and you absolve Tala from all liability for loss or damage which you may sustain from Tala acting on your instructions or requests or in accordance with this Agreement.
The indemnity shall also cover the following:
Tala may at any time terminate this Agreement and accelerate any outstanding Borrowings and the Total Payment Amount shall become immediately due and payable in the event that you default on any of your obligations under this Agreement or if any of the following occurs:
You agree that Tala shall be entitled to terminate the Agreement at any time, without any responsibility and without need of judicial resolution, by means of a simple written notice given to you. Notwithstanding any other provision in this Agreement, upon termination of this agreement by Tala, the rights and obligations granted hereunder shall cease to accrue and shall forthwith be extinguished.
You agree that You shall not assign any of your rights under this Agreement, transfer any of your obligations under this Agreement, sub-contract or delegate any of your obligations under this Agreement nor charge or deal in any other manner with this Agreement any of your rights or obligations.
You expressly and irrevocably authorize Tala to assign, transfer or discount, at any time, including before the Due Date, all of its rights under this Agreement related to the Credit Line.
You agree that in case of any default by you on any of your obligations under this Agreement, Tala may obtain the payment of the Total Payable Amount through any procedures available to it under the applicable law.
If you wish to contact us in writing, or if any condition in this Agreement requires you to give us notice, you can send this to us through the Tala App, or by e-mail to firstname.lastname@example.org. We will confirm receipt of this by contacting you in writing by way of e-mail.
If we have to contact you or give you notice in writing, We will do so by e-mail or by SMS to the mobile phone number or email address you provide to us in your request in the Tala App.
The Cover Page and, if applicable, the Application, form an integral part of this Agreement and have the same validity and effectiveness as if they had been incorporated into the main body of this Agreement. If there are inconsistencies between the content of any supplementary document and the content of the Clauses of this Agreement, the content of the supplementary document shall prevail.
The nullity, invalidity, illegality or lack of enforceability of any provision of this Agreement shall in no way affect the validity, legality and enforceability of any other provisions of this Agreement.
If any clause is rendered void or unenforceable, whether wholly or in part, the parties shall endeavour, without delay and in good faith discussions, to attain the economic and/or other intended result in another legally permissible manner.
This Agreement constitutes the sole and entire agreement between the parties in relation to the subject matter hereof.
No failure or delay by either yourself or Tala in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy.
No failure by Us to exercise, and no delay in exercising, any right or remedy in respect of any provision of this Agreement shall operate as a waiver of such right or remedy.
Tala encourages you to report any disputes, claims or discrepancies via email at email@example.com.
In any event, you agree that you shall, in good faith, resolve any dispute, controversy or claim of any nature whatsoever arising out of or in relation to or in connection with this Agreement.
In the event of a dispute arising out of or relating to this Agreement, the parties will commence settlement of that dispute by way of mediation.
Any dispute arising out of or in connection with this Agreement that is not resolved by mediation shall be referred to arbitration by a single arbitrator to be appointed by agreement between the parties or in default of such agreement within 60 days of the notification of a dispute, upon the application of either party, by the Chairman for the time being of the Chartered Institute of Arbitrators (Kenya Branch). Such arbitration shall be conducted in the English language in Nairobi in accordance with the Rules of Arbitration of the said Institute and subject to and in accordance with the provisions of the Arbitration Act.
To the extent permissible by Law, the determination of the Arbitrator shall be final, conclusive and binding upon the parties hereto.
This Agreement shall be governed by and construed in accordance with the laws of the Republic of Kenya.
This Agreement constitutes the entire agreement between you and us and shall supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between us, whether written or oral, relating to its subject matter.
You acknowledge that in entering into this Agreement you do not rely on any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this Agreement.
You and We agree that neither of us shall have any claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this Agreement.
Last Revised August 2023