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Business Conditions

As at 25 March 2020

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 ZWL40 ZWL30 ZWL10 ZWL200 ZWL50 ZWL1,000
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 ZWL250 ZWL100 ZWL1,000 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 USD3 ZWL30 ZWL20 ZWL8 ZWL15
(Below Min Balance)
USD10 ZWL250 ZWL100 ZWL30
(Below Min Balance)
CASH WITHDRAWAL FEE 2%; Min USD2 2%; Min ZWL10 2%; Min ZWL10 2%; Min ZWL10 2%; Min ZWL10 2%; Min USD2 2%; Min ZWL10 2%; Min ZWL10 2%; Min ZWL10
ATM CASH WITHDRAWAL N/A 2%; Min ZWL8 2%; Min ZWL8 2%; Min ZWL8 2%; Min ZWL8 N/A N/A N/A N/A
INTER ACCOUNT TRANSFERS USD2 1%; Min ZWL20
Max ZWL60
1%; Min ZWL20
Max ZWL60
1%; Min ZWL20
Max ZWL60
1%; Min ZWL20
Max ZWL60
USD3 1%; Min ZWL20
Max ZWL60
1%; Min ZWL20
Max ZWL60
1%; Min ZWL20
Max ZWL60
RTGS MANUAL USD5 1%; Min ZWL40
Max ZWL350
1%; Min ZWL40
Max ZWL350
1%; Min ZWL40
Max ZWL350
1%; Min ZWL40
Max ZWL350
USD5 1%; Min ZWL40
Max ZWL350
1%; Min ZWL40
Max ZWL350
1%; Min ZWL40
Max ZWL350
INTERNET BANKING CHARGES
NMB TO NMB THIRD PARTY TRANSFERS 1%; Min ZWL10
Max ZWL40
ACCOUNT STATEMENT No Charge
OWN NMB ACCOUNTS TRANSFERS No Charge BILL PAYMENTS 1%; Min ZWL15
Max ZWL30
RTGS 1%; Min ZWL30
Max ZWL100
BALANCE ENQUIRY No Charge
MOBILE BANKING CHARGES
NMB TO NMB THIRD PARTY TRANSFERS 1%; Min ZWL10
Max ZWL40
BILL PAYMENTS 1%; Min ZWL10
Max ZWL30
ZIPIT TO OTHER BANKS 1%; Min ZWL20
Max ZWL50
BALANCE ENQUIRY ZWL1.50
MINI STATEMENT ZWL1.50
DEBIT CARD CHARGES
CARD ISSUANCE ACCESS CARD ZWL50 TAP CARD ZWL45 VISA CLASSIC EQUIVALENT TO USD10 VISA GOLD USD12
VISA PLATINUM USD15 POS PURCHASES (LESS THAN ZWL20) ZWL0.50; (ABOVE ZWL20) 1%; Min ZWL4; Max ZWL15 POS BALANCE ENQUIRY ZWL0.50
CARD REPLACEMENT ZWL30 ECOCASH BANK TO WALLET TRANSFERS 2%; Min ZWL10; Max ZWL50
PREFUNDED AND CREDIT CARDS
VISA CLASSIC PREFUNDED USD10 VISA GOLD PREFUNDED USD12 VISA PLATINUM PREFUNDED USD15
PURCHASES POS AND ONLINE 1.5%; PLUS USD2.50 DECLINED TRANSACTION USD0.50
WITHDRAWALS BRANCH CASH WITHDRAWAL 2%; PLUS USD3.50 ATM WITHDRAWAL 2%; PLUS USD3
MERCHANT POS
MONTHLY CHARGE 1%; Min ZWL150 (KaGwenya) and Min ZWL250 (Standard POS)
EVENTS POS HIRE 1%; Min ZWL250 per hire
SEASONAL POS HIRE 1%; Min ZWL250 per month
BANK LETTERS
CERTIFICATE OF BALANCE ZWL10
LETTERS OF COMFORT ZWL10
BANK REPORTS ZWL10
INTERIM STATEMENTS FROM BRANCHES PER PAGE ZWL10
OTHER CHARGES
SAFE CUSTODY LODGING MONTHLY CHARGE ZWL40 (Individuals); ZWL50 (Corporates)
SAFE CUSTODY ACCESS FEE ZWL50