Terms and Conditions
Download the business Conditions here
| PERSONAL ACCOUNTS | |||||||
|---|---|---|---|---|---|---|---|
| PRODUCT | NOSTRO FCA | CURRENT ACCOUNT – PREMIUM | CURRENT ACCOUNT – BASIC | NMBLITE ACCOUNT | SAVINGS ACCOUNT | FIXED/TERM DEPOSIT | |
| MINIMUM ACCOUNT BALANCE | USD10 | ZWL300 | ZWL150 | ZWL150 | ZWL500 | ZWL10,000 | |
| WITHDRAWAL CONDITIONS | On Demand | On Demand | On Demand | On Demand | On Demand | On Maturity | |
| PERSONAL LOANS & OVERDRAFTS | ||||
|---|---|---|---|---|
| TENOR 3-24 MONTHS | MINIMUM LENDING RATE p.a plus a margin | ARRANGEMENT FEES UP TO 8% | INSURANCE 1% p.a | |
| MORTGAGE LOANS | |||||
|---|---|---|---|---|---|
| TENOR UP TO 3 YEARS | ESTABLISHMENT FEES 3% | VALUATION FEES 1% | INTEREST RATES UP TO 65% p.a | DEPOSIT 25% OF PURCHASE PRICE | ANNUAL MAINTENANCE FEE 1% OF LOAN AMOUNT |
| BUSINESS ACCOUNTS | |||||
|---|---|---|---|---|---|
| PRODUCT | BUSINESS NOSTRO FCA | BUSINESS CURRENT ACCOUNT | SME CURRENT ACCOUNT | INVESTMENT/CALL ACCOUNT | FIXED/TERM DEPOSIT |
| MINIMUM ACCOUNT BALANCE | USD25 | ZWL2,000 | ZWL750 | ZWL10,000 | ZWL10,000 |
| WITHDRAWAL CONDITIONS | On Demand | On Demand | On Demand | On Demand | On Maturity |
| BUSINESS FINANCE | |||
|---|---|---|---|
| LOANS/OVERDRAFTS | Minimum lending rate p.a. plus a margin | Penalty interest rate – Lending Rate plus 8% p.a. | |
| ACCEPTANCE CREDITS/BAS | Commission up to 2.5% plus Market Discount Rate | Establishment fees up to 5% | Guarantee Commissions: 2% quarterly |
| INTERNATIONAL BANKING CHARGES | |||||
|---|---|---|---|---|---|
| EXCHANGE CONTROL DOCUMENTATION | |||||
| EXPORTER REGISTRATION | ZWL500 | PRIOR EXCON APPLICATION | ZWL1,000 | DOCUMENTARY COLLECTION | USD150 |
| FORM CD1 | ZWL500 | CAPITAL ACCOUNT TRANSACTION | ZWL2,500 | ||
| IMPORTER REGISTRATION | ZWL1,000 | BULK FORM CD1 | ZWL1,000 | CD3 ADMINISTRATION FEE | ZWL500 |
| TELEGRAPHIC TRANSFERS | |||
|---|---|---|---|
| OUTGOING TELEGRAPHIC TRANSFER | 0.5%; Min USD30; Max USD350 | HANDLING FEES | USD5 |
| FOREIGN BANK CHARGE | 1%; Min USD50; Max USD150 | PAYMENT CANCELLATION/AMENDMENT | USD20 |
| LETTERS OF CREDIT | |||
|---|---|---|---|
| ESTABLISHMENT FEE | 0.75% flat USD | DOCUMENT COLLECTION | USD150 |
| ACCOUNT SERVICE CHARGES | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| PERSONAL NOSTRO FCA |
PERSONAL CURRENT ACCOUNT PREMIUM |
PERSONAL CURRENT ACCOUNT BASIC |
NMBLITE ACCOUNT | PERSONAL SAVINGS ACCOUNT |
BUSINESS NOSTRO FCA |
BUSINESS CURRENT ACCOUNT |
SME CURRENT ACCOUNT |
BUSINESS SAVINGS ACCOUNT |
|
| MONTHLY SERVICE FEES | USD5 | ZWL300 | ZWL150 | ZWL150 | ZWL100 (Below Min Balance) |
USD15 | ZWL2,000 | ZWL750 | ZWL500 (Below Min Balance) |
| CASH WITHDRAWAL FEE | 2%; Min USD5 | 3%; Min ZWL35 | 3%; Min ZWL35 | 3%; Min ZWL35 | 3%; Min ZWL35 | 2%; Min USD5 | 3%; Min ZWL50 | 3%; Min ZWL50 | 3%; Min ZWL50 |
| ATM CASH WITHDRAWAL | N/A | 3%; Min ZWL35 | 3%; Min ZWL35 | 3%; Min ZWL35 | 3%; Min ZWL35 | N/A | N/A | N/A | N/A |
| INTER ACCOUNT TRANSFERS | USD3 | 1%; Min ZWL75 Max ZWL1,000 |
1%; Min ZWL75 Max ZWL1,000 |
1%; Min ZWL75 Max ZWL1,000 |
1%; Min ZWL75 Max ZWL1,000 |
USD3 | 1%; Min ZWL75 Max ZWL1,000 |
1%; Min ZWL75 Max ZWL1,000 |
1%; Min ZWL75 Max ZWL1,000 |
| RTGS MANUAL | 1%; Min USD5 Max USD10 |
1%; Min ZWL200 Max ZWL2,000 |
1%; Min ZWL200 Max ZWL2,000 |
1%; Min ZWL200 Max ZWL2,000 |
1%; Min ZWL200 Max ZWL2,000 |
1%; Min USD5 Max USD10 |
1%; Min ZWL200 Max ZWL2,000 |
1%; Min ZWL200 Max ZWL2,000 |
1%; Min ZWL200 Max ZWL2,000 |
| MERCHANT POS | |
|---|---|
| MONTHLY CHARGE | 1%; Min ZWL1,000 (KaGwenya) and Min ZWL1,300 (Standard POS) |
| EVENTS POS HIRE | 1%; Min ZWL1,500 per hire |
| SEASONAL POS HIRE | 1%; Min ZWL1,500 per month |
| IDLE POS | ZWL2,000 |
| OTHER CHARGES | ||||||
|---|---|---|---|---|---|---|
| RTGS |
INTERNET / MOBILE BANKING
|
Individual: 2%; Min ZWL200 Max ZWL1,500 |
Nostro: 1%; Min USD4 Max USD8 | ACCOUNT STATEMENT / BALANCE ENQUIRY | INTERNET / MOBILE BANKING: ZWL15 | Nostro: USD0.12 |
| Corporate: 2%; Min ZWL200 Max ZWL1,500 |
Nostro: 1.5%; Min USD5 Max USD20 | BILL PAYMENTS | INTERNET / MOBILE BANKING: 2.5%; Min ZWL50 Max ZWL1,500 |
Nostro USD0.50 (DSTV USD2.50) | ||
| ZIPIT TO OTHER BANKS | MOBILE BANKING: 2%; Min ZWL100 | Nostro: 1%; Min USD2 Max USD4 | ECOCASH BANK TO WALLET TRANSFERS: 2.5%; MIN ZWL50 | POS INSUFFICIENT FUNDS ZWL10 | ZIMSWITCH INSUFFICIENT FUNDS ZWL10 PLUS ZIMSWITCH FEE | SALARY BULK PAYMENTS ZWL100 per record |
| DEBIT, PREFUNDED AND CREDIT CARDS | ||||||||
|---|---|---|---|---|---|---|---|---|
| CARD ISSUANCE | ACCESS CARD (CPA) ZWL500 | TAP CARD ZWL100 | VISA CLASSIC EQUIVALENT TO USD10 | VISA GOLD EQUIVALENT TO USD12 | ||||
| VISA PLATINUM EQUIVALENT TO USD15 | POS PURCHASES (LESS THAN ZWL100) ZWL5; (ABOVE ZWL100) 1%; Min ZWL25; Max ZWL500 | VISA INFINITY USD30 | VISA SIGNATURE USD30 | |||||
| CARD REPLACEMENT ZWL500 | ||||||||
| PREFUNDED CARDS ISSUANCE | VISA CLASSIC PREFUNDED USD10 | VISA GOLD PREFUNDED USD12 | VISA PLATINUM PREFUNDED USD15 | |||||
| VISA PURCHASES | POS AND ONLINE 2%; PLUS USD2.50 | DECLINED TRANSACTION USD1 | ||||||
| VISA WITHDRAWALS | BRANCH CASH WITHDRAWAL 2%; PLUS USD3.50 | ATM WITHDRAWAL 2%; PLUS USD3.50 | ||||||
