WaveBudget Marketplace Membership

Effective Date: 1 September 2026

By becoming a WaveBudget member, you agree to the following terms:

1. Membership Requirements

• You must provide your full name, NIN, proof of income, residential address, and other information required for KYC and verification.
• You must provide one guarantor.
• Both you and your guarantor must have a verifiable minimum income of ₦200,000 per month, you must provide either a 6-month salary bank statement or 3 months’ salary slips/payment receipts.
• A recent NEPA/PHCN bill for house address verification

2. WaveSave Membership Savings

• The minimum WaveSave is ₦100,000, with additional savings in multiples of ₦50,000.
• WaveSave must be paid only into an official WaveBudget account.
• WaveSave is held for 12 months. Early withdrawal before 12 months without a minimum membership savings of ₦100,000 shall attract a 5% early-withdrawal charge.
• WaveSave serves as collateral/security for eligible WaveBudget payment-plan services.
• WaveSave does not automatically guarantee approval for a purchase or a particular credit limit.

3. Shopping Credit

• Your shopping credit limit is determined by your WaveSave, credit profile, income, affordability, repayment capacity, and other financial insights.
• Eligible members may access up to 8.5× their WaveSave.
• The 8.5× figure is a maximum potential limit, not a guaranteed credit limit.
• You may make multiple payment-plan purchases as long as you have sufficient available credit and continue to meet WaveBudget’s requirements.

4. Flexible Payment Plan

• The Flexible Payment Plan is available only to eligible WaveBudget members.
• You can shop from the WaveBudget Marketplace or verified partner stores.
• WaveBudget purchases the selected product and resells it to you at a transparent 10% markup.
• You pay 50% upfront of the marked-up price
• The remaining 50% is paid over 5 monthly instalments.
• The payment plan carries 0% interest.
• Get a receipt for the item after payment complation

5. Cashback / Shop & Earn

• Members can earn cashback based on their eligible annual shopping volume and WaveSave plan.
• You must complete at least ₦650,000 in eligible shopping within a 12-month qualification period to qualify.
• Current cashback rates are:

• Your maximum annual cashback is 30% of your WaveSave balance.
• For example, a ₦300,000 WaveSave gives you a maximum possible annual cashback of ₦90,000.
• Cashback is calculated only on eligible transactions and is subject to verification and the applicable Shop & Earn rules, Cancelled, refunded, reversed, fraudulent, or otherwise excluded transactions shall not qualify.
• Cashback is a membership reward, not interest, investment income, or a guaranteed share of WaveBudget’s profits.

6. Late Payment & Default

• Payments must be made according to the agreed repayment schedule.
• Where payment is more than 30 days overdue, WaveBudget shall contact your guarantor to persuade the member to pay or pay on their behalf and suspend further payment-plan purchases.
• Where payment is more than 60 days overdue, WaveBudget may, subject to the applicable agreement and law:
  • Apply/liquidate your WaveSave toward outstanding obligations.
  • Disqualify you from the applicable annual cashback.
  • Suspend or terminate your payment-plan access.
  • Take appropriate legal and recovery action to recover the item 
  • Sell a recovered product as a pre-owned item to help recover outstanding amounts.
• You remain responsible for any outstanding balance after applicable collateral and recovery proceeds have been applied.

7. Products & Islamic Finance

• WaveBudget’s applicable marketplace and payment-plan activities are structured in accordance with Islamic finance principles.
• Products identified as Haram/prohibited under WaveBudget’s applicable guidelines will not be offered through the relevant service.
• WaveBudget services are available to both Muslims and non-Muslims.
• All transactions must comply with applicable Nigerian laws and WaveBudget policies.

8. Payments

• Make payments only to official WaveBudget accounts.
• WaveBudget will not be responsible for payments made to unauthorised personal accounts or third parties.
• Always keep your payment receipt and transaction reference.

9. Privacy & Verification

• WaveBudget may collect and process your information for KYC, credit assessment, affordability checks, fraud prevention, payment processing, customer service, recovery, and administration of membership benefits.
• Your information will be handled in accordance with WaveBudget’s Privacy Policy and applicable Nigerian data-protection laws.

10. Suspension or Termination

WaveBudget may suspend or terminate your membership or benefits where there is:

• Fraud or suspected fraudulent activity.
• False or misleading information.
• Payment-plan abuse or serious default.
• Breach of these Terms.
• Other legitimate risk or compliance concerns.

11. Changes to These Terms

WaveBudget may update its membership requirements, cashback rates, shopping limits, fees, or other program conditions from time to time. Material changes will be communicated through appropriate channels.

12. Questions & Complaints

We’re here to help.
WhatsApp: 08137960202
Email: info@wavebudget.com
Website: www.wavebudget.com

13. Changes to These Terms

WaveBudget may update its membership requirements, cashback rates, shopping limits, fees, or other program conditions from time to time. Material changes will be communicated through appropriate channels.