Please note that by choosing to use this application, you are agreeing to the terms and conditions (as defined below). If you do not agree to all these terms, you may not have full access to all the services of the application.

About Us.

PennyTree is a digital and mobile platform that enables users to save and make payment online. PennyTree can be found on both google and apple stores.


In this agreement, a user is referred to as an individual who uses our mobile application and website for evaluation, research and (or) educational purposes. While a client is an individual or a group of people who signs up on PennyTree therefore allowing his/her savings to be managed by PennyTree and who makes payment via the mobile application.

By agreeing to these terms and conditions, you are bound by the terms of use, and any additional terms to which you agree when you create and fund a savings plan, make payment and withdrawal at any time. Take time to read the binding terms and conditions of use.

This agreement is binding on both users and clients.


To use our website or mobile application, you must;

  • Be 18 and/or above.
  • Reside in Nigeria
  • Have an account with at least one of the financial institutions in Nigeria.
  • Provide all the information required at sign up such as full name, email address, phone number, bank account online credentials, and
  • Any other information that may be requested from time to time

Data Protection

By opening this account, you agree that PennyTree can process your personal data to;

  • Provide product and services to you in terms of this agreement and any other product services for which you may apply.
  • Carry out market research and analysis to identify potential market opportunities and trends to enable us serve you better.


You represent and warrant that all information you provided and you will provide from time to time is true, genuine, accurate and the most recent.

Penal Charges

By consenting to these terms and conditions, you agree to be charged a penalty fee where applicable. Based on our offerings - Personal Vault, and Target Savings, you would be charged as follows for withdrawing before the set time;

  • Personal Vault: Loss your entire interest and any other additional interest
  • Target Savings: Loss 10% of your savings i.e the total amount you have saved inclusive of your interest.

Language and Communication

Our primary means of communication to our users and clients is English.

Notification & Alert

By signing up on PennyTree, you will automatically receive email and mobile notifications. You can unsubscribe from any of our marketing emails. The content of these messages would not include your password as this is confidential to you. Family members, friends or colleagues who have access to your email box would be able to read the information sent but they would not be able to access your account without your password.


Each of us can terminate this agreement at any time,subject to the maturity of our plans. We may terminate your account with PennyTree at any time, with prior notice to you, if your account is found to be fraudulent.

We will be in full cooperation with any law enforcement authorities or court order, directing us to disclose the identity of anyone posting, publishing, or making available contents, User information, emails or other materials that are believed to violate these Terms of Use.

Governing Law

These Terms are made under and will be subject to and construed in accordance with the laws of the Federal Republic of Nigeria, without giving effect to any principles that provide for the application of the law of another jurisdiction.

Dispute Resolution

If there is a legal dispute, it will take place in Federal High Courts under Nigerian Law. You agree that these Terms of Use shall be governed by and interpreted in accordance with the laws of the Federal Republic of Nigeria.


PennyTree would not be responsible for any financial awareness messages or insight provided to its users and clients as this information is not guaranteed to by PennyTree.


We welcome and appreciate your feedback. You may submit your feedback by sending an email to

You agree however that any volunteered idea you give to PennyTree or any of her agents, by any means of communication, including but not limited to email, oral communication, or written communication, you automatically lose your intellectual property right on the idea.

You also agree that that the idea if implemented on PennyTree automatically comes the property right of PennyTree


If you have any question regarding the terms and conditions, please send an email to or call +234 (0)903-026-6439


By agreeing to these terms and conditions, you understand that you are creating and funding a savings plan and making payment through PennyTree and all the data you have provided is for this purpose.

You agree to abide by the terms and conditions stated above which governs our daily operations.

Finally, you agree to indemnify PennyTree for any loss suffered as a result of false data or error is the information you provided.