Table of Contents
1. INTRODUCTION
These Terms and Conditions ("Terms") govern the opening, operation, and use of the VaultPlus™ ("VaultPlus") provided by GlobalTrust Mortgage Bank ("GTMB," "we," "us," or the "Bank"). By opening or using VaultPlus via the GTMB digital platform or mobile application, the Customer ("you" or "your") agrees to be bound by these Terms, alongside general banking regulations mandated by the Central Bank of Nigeria (CBN).
2. PRODUCT OVERVIEW & ELIGIBILITY
2.1. Maximum High-Yield Returns
VaultPlus™ is a premium fixed-income investment product designed to offer maximum, high-yield returns over an extended, locked period.
2.2. Minimum Initial Investment
A minimum initial investment of ₦500,000.00 is required to activate a VaultPlus plan. Subsequent top-ups are permitted but must be strictly in multiples of ₦500,000.00.
2.3. Account Opening
Account opening and subscription are executed exclusively via the GTMB digital platform or mobile application.
3. INTEREST RATES & TAXATION
3.1. Interest Rate
The VaultPlus™ Account yields a fixed, guaranteed return of 22% per annum.
3.2. Computation and Payout
Interest is distributed semi-annually. A 11% interest payout will be credited directly to your primary TrustWallet every six (6) months throughout the duration of the investment tenor.
3.3. Taxation
In strict compliance with Nigerian tax laws, all earned accrued interest is subject to a statutory 10% Withholding Tax (WHT) deduction prior to payout.
4. TENOR, LIQUIDATION & AUTO-RENEWAL
4.1. Fixed Tenor
The VaultPlus investment operates on a strict, long-term fixed holding period of 24 months (2 years).
4.2. No Early Liquidation
VaultPlus is a strictly locked investment vehicle. No pre-liquidation or early withdrawal is allowed under any circumstances prior to the maturity of the 24-month term. Funds are entirely inaccessible until the maturity date is reached.
4.3. Auto-Renewal
By default, the VaultPlus Account is configured to automatically renew upon maturity. You must actively adjust your rollover preferences or opt out via the GTMB application prior to the maturity date if you intend to receive a full payout of your principal at the end of your term.
5. FEES & SERVICE CHARGES
5.1. SMS Transaction Alerts
Transaction notifications and alert delivery fees are applied strictly on a cost-recovery basis, mirroring exact telecommunication carrier costs.
5.2. Maintenance Fees
There are no monthly account maintenance fees or Commission on Turnover (COT) applied to the VaultPlus balance.
6. DATA PROTECTION & PRIVACY
6.1. Privacy and Data Handling
GTMB processes all personal and financial data in strict adherence to the Nigeria Data Protection Act (NDPA) 2023. By using the VaultPlus Account, you consent to the collection, processing, and retention of your data for account administration, regulatory reporting, and fraud prevention purposes.
7. AMENDMENTS & REVISIONS
7.1. Right to Review
GTMB reserves the right to review or amend the interest rates or terms in response to macroeconomic shifts, fiscal adjustments, or revised CBN guidelines. Material updates will be communicated via in-app alerts, registered email, or SMS.
8. GOVERNING LAW & DISPUTE RESOLUTION
8.1. Governing Law
These Terms shall be interpreted, governed, and construed in accordance with the laws of the Federal Republic of Nigeria.
8.2. Dispute Resolution
Any disputes arising from or in connection with the Trust Target Account shall first be subjected to amicable resolution through the GTMB Customer Success team within 14 days; failing which, the dispute may be referred for final determination, with the prior written consent of the Parties, the dispute may be referred to be resolved finally by mediation at the Lagos Multi-Door Courthouse (“LMDC”). The rules of the LMDC Law, 2015, shall apply with a single mediator appointed by the LMDC. Any settlement terms agreed upon by the Parties at the Mediation shall be binding on all Parties; Unresolved disputes shall be submitted to the competent courts of jurisdiction in Lagos State, Nigeria.