Terms and Conditions
Download the business Conditions here
| PERSONAL ACCOUNTS | |||||||
|---|---|---|---|---|---|---|---|
| PRODUCT | NOSTRO FCA | CURRENT ACCOUNT – PREMIUM | CURRENT ACCOUNT – BASIC | NMBLITE ACCOUNT | SAVINGS ACCOUNT | DREAM HOUSE SAVINGS ACCOUNT | FIXED/TERM DEPOSIT |
| MINIMUM ACCOUNT BALANCE | USD10 | ZWL60 | ZWL40 | ZWL15 | ZWL500 | ZWL500 | ZWL10,000 |
| WITHDRAWAL CONDITIONS | On Demand | On Demand | On Demand | On Demand | On Demand | No withdrawal for the first 12 months | On Maturity |
| PERSONAL LOANS & OVERDRAFTS | ||||
|---|---|---|---|---|
| TENOR 3-36 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 40% p.a | DEPOSIT 25% OF PURCHASE PRICE | ANNUAL MAINTENANCE FEE ZWL250 |
| BUSINESS ACCOUNTS | |||||
|---|---|---|---|---|---|
| PRODUCT | BUSINESS NOSTRO FCA | BUSINESS CURRENT ACCOUNT | SME CURRENT ACCOUNT | INVESTMENT/CALL ACCOUNT | FIXED/TERM DEPOSIT |
| MINIMUM ACCOUNT BALANCE | USD25 | ZWL500 | ZWL200 | 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 | |||||
|---|---|---|---|---|---|
| IMPORT AND EXPORT DOCUMENTATION | |||||
| EXPORTER REGISTRATION | ZWL20 | PRIOR EXCON APPLICATION | ZWL50 | DOCUMENTARY COLLECTION | ZWL100 |
| PRE STAMPED AUTHORITY | ZWL20 | FORM CD1 | ZWL5 | CAPITAL ACCOUNT TRANSACTION | ZWL150 |
| IMPORTER REGISTRATION | ZWL20 | BULK FORM CD1 | ZWL50 | CD3 ADMINISTRATION FEE | ZWL5 |
| TELEGRAPHIC TRANSFERS | |||
|---|---|---|---|
| OUTGOING TELEGRAPHIC TRANSFER | 0.5%; Min USD30; Max USD300 | EXCON BATCH FEE | ZWL10 |
| FOREIGN BANK CHARGE | 1%; Min USD50; Max USD150 | PAYMENT CANCELLATION/AMENDMENT | ZWL50 |
| LETTERS OF CREDIT | |||
|---|---|---|---|
| ESTABLISHMENT FEE | 0.75% flat USD | DOCUMENT NEGOTIATION | 0.5% |
| CONFIRMATION FEE | 0.5% pro rata USD | DOCUMENT COLLECTION | ZWL100 flat |
| 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 | ZWL60 | ZWL40 | ZWL15 | ZWL40 (Below Min Balance) |
USD15 | ZWL500 | ZWL200 | ZWL500 (Below Min Balance) |
| CASH WITHDRAWAL FEE | 2%; Min USD5 | 3%; Min ZWL12 | 3%; Min ZWL12 | 3%; Min ZWL12 | 3%; Min ZWL12 | 2%; Min USD5 | 3%; Min ZWL20 | 3%; Min ZWL20 | 3%; Min ZWL20 |
| ATM CASH WITHDRAWAL | N/A | 3%; Min ZWL12 | 3%; Min ZWL12 | 3%; Min ZWL12 | 3%; Min ZWL12 | N/A | N/A | N/A | N/A |
| INTER ACCOUNT TRANSFERS | USD3 | 1%; Min ZWL20 Max ZWL300 |
1%; Min ZWL20 Max ZWL300 |
1%; Min ZWL20 Max ZWL300 |
1%; Min ZWL20 Max ZWL300 |
USD3 | 1%; Min ZWL20 Max ZWL300 |
1%; Min ZWL20 Max ZWL300 |
1%; Min ZWL20 Max ZWL300 |
| RTGS MANUAL | 1%; Min USD5 Max USD10 |
1%; Min ZWL60 Max ZWL500 |
1%; Min ZWL60 Max ZWL500 |
1%; Min ZWL60 Max ZWL500 |
1%; Min ZWL60 Max ZWL500 |
1%; Min USD5 Max USD10 |
1%; Min ZWL60 Max ZWL500 |
1%; Min ZWL60 Max ZWL500 |
1%; Min ZWL60 Max ZWL500 |
| MERCHANT POS | |
|---|---|
| MONTHLY CHARGE | 1%; Min ZWL300 (KaGwenya) and Min ZWL500 (Standard POS) |
| EVENTS POS HIRE | 1%; Min ZWL500 per hire |
| SEASONAL POS HIRE | 1%; Min ZWL500 per month |
| OTHER CHARGES | |||||
|---|---|---|---|---|---|
| RTGS | N/A | INTERNET BANKING: 1%; Min ZWL50; Max ZWL400 | ACCOUNT STATEMENT / MINI STATEMENT | MOBILE BANKING: ZWL2.15 | INTERNET BANKING: ZWL2.15 |
| ZIPIT TO OTHER BANKS | MOBIE BANKING: 1%; Min ZWL50; Max ZWL200 | N/A | BILL PAYMENTS | MOBILE BANKING: 1%; Min ZWL15; Max ZWL50 | INTERNET BANKING: 1%; Min ZWL15; Max ZWL50 |
| DEBIT, PREFUNDED AND CREDIT CARDS | ||||||||
|---|---|---|---|---|---|---|---|---|
| CARD ISSUANCE | ACCESS CARD ZWL100 | TAP CARD ZWL80 | VISA CLASSIC EQUIVALENT TO USD10 | VISA GOLD EQUIVALENT TO USD12 | ||||
| VISA PLATINUM EQUIVALENT TO USD15 | POS PURCHASES (LESS THAN ZWL20) ZWL1.00; (ABOVE ZWL20) 1%; Min ZWL10; Max ZWL50 | CARD REPLACEMENT ZWL100 | ECOCASH BANK TO WALLET TRANSFERS 2%; Min ZWL20; Max ZWL200 | |||||
| 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 | ||||||
