Privacy Policy & Terms and Conditions
Program Name: iutePlus Loyalty Program
Effective Date: February 1, 2025
Welcome to iute’s Loyalty Program!
We’re delighted to introduce our Loyalty Program, designed to reward you, our valued customer, for your continued trust and partnership. This program is a joint initiative of independent legal entities operating under the same trademark “iute”. Each entity offers products and services in accordance with its respective license, and the program’s benefits and terms may vary depending on the country or region where the entity operates.
Below, you’ll find comprehensive details outlining how our program works, ensuring you can fully enjoy the benefits we’ve designed for you.
Eligibility:
- Participation in the Program is automatic for all iute customers engaging in activities that qualify for Plus Points.
How do I earn Plus Points and how many?
You can earn Plus Points through qualifying activities, as outlined below:
Loans:
- Earn up to 5,500 Plus Points per loan agreement for obtaining and repaying loans on time.
- Some loans may qualify for rewards, while others may not. Customers will be informed during the loan application process whether the specific loan they are applying for qualifies loyalty rewards.
- The total reward for loan taking will be divided equally across all installments and credited for each on-time repayment.
- Loans repaid early do not earn rewards for early repaid installments.
Insurance:
- Earn up to 100 Plus Points for each insurance agreement.
- Rewards are based on the policy amount and may vary.
- Plus Points for insurance will be added to the customer’s account only after the 14-day withdrawal period has passed. If the customer withdraws from the insurance agreement within this period, no points will be granted.
ATM Cash Withdrawals:
- Earn up to 600 Plus Points per cash withdrawal from iute ATMs.
- Rewards depend on the transaction amount and may vary.
- ATM transaction rewards are credited instantly.
Temporary Campaigns:
- Iute may occasionally offer extra rewards for specific products or services.
- Details and conditions for temporary campaigns will be shared to customers via different channels.
Important Notes:
- Plus Points are credited to your account upon successfully completing a qualifying activity.
- Plus Points are non-transferable and cannot be combined with other offers or promotions.
- Stay updated with campaign notices to maximize your rewards!
Plus Points Expiry:
- Plus Points expire if not used within 18 months from the date they were earned.
- Iute reserves the right to modify expiration terms and will provide customers with timely notifications regarding any changes to these terms.
- If the customer has overdue repayments towards Iute that have not been settled within the agreed terms, they will not earn Plus Points for the associated loan. This does not affect the ability to use previously earned points. If the customer resumes timely repayments after a delay, they will begin earning Plus Points again for subsequent payments on the loan.
- If the loan agreement is unilaterally terminated, there will be no points assigned for future qualifying activities, but the previously earned Plus Points will remain.
- Expiration date of points is not related to the expiration of gift cards created with Plus Points.
Redeeming Plus Points:
- Plus Points are the unit of exchange and can be redeemed for rewards specified in the Program, such as gift cards, free gifts, or discounts in our Partner stores. Depending on the reward and the customer’s total points, Plus Points may be used either to partially cover the cost of a reward or to fully redeem it, provided the customer has enough points. Each point is equivalent to 1 ALL.
- Gift cards are issued exclusively by participating partner stores and are valid only at these partner locations. Iute does not issue gift cards directly but facilitates the loyalty program that allows customers to redeem points for partner-issued gift cards. The terms and conditions of each gift card are determined by the issuing partner.
- Validity of gift cards awarded, differs depending on the agreements with partner stores. Expiration of awarded gift cards is based on the day gift card is created,
- Redemption options and values may be adjusted at Iute’s discretion. Customers will be notified in advance of any significant changes to ensure transparency and alignment with program guidelines.
- Plus Points cannot be redeemed for cash. However, they can be used to redeem specific rewards or services as outlined in the loyalty program terms and conditions.
- Plus Points cannot be transferred to another customer.
How to Track Your Progress:
- Check your Plus Points balance and what you can do more to earn more Plus Points anytime in the ‘iutePlus Loyalty Program’ section of the app.
- Receive personalized notifications for usage on special offers and promotions.
Program Changes and Termination:
- Iute reserves the right to modify, suspend, or terminate the Program. Customers will be provided with prior notice of any significant changes. If the Program is discontinued, customers will have a period of 90 days to redeem any points already collected before the termination becomes effective.
- Iute reserves the right to exclude certain activities qualified for Plus Points earning from the program upon prior notice.
- Iute has sole authority in evaluating any appeals related to a member’s Plus Points balance and in determining whether Plus Points have been earned. Iute reserves the right to revoke any Plus Points assigned by error.
Exclusion from liability
- IUTE bears no responsibility if the application to receive a gift card through “Myiute” is made by a person not authorized by the customer, if a third person has acted differently than the authorization given by the customer or for any other reason.