Terms and Conditions
Download the business Conditions here
| PERSONAL ACCOUNTS | |||||||
|---|---|---|---|---|---|---|---|
| PRODUCT | NOSTRO FCA | CURRENT ACCOUNT – PREMIUM | CURRENT ACCOUNT-BASIC | NMBLITEACCOUNT | SAVINGS ACCOUNT | DREAM HOUSE SAVINGS ACCOUNT | FIXED/TERM DEPOSIT |
| Minimum Account balance | USD10 | ZWL15 | ZWL7.50 | ZWL10 | ZWL100 | ZWL50 | ZWL1000 |
| Interest rates | Min 0.0001 % p.a | Min 0.2% p.a | Min 0.2% p.a | 0.2% p.a | Min 2% p.a | 3-6% p.a. | Min 2% p.a. |
| Interest calculation | Minimum Monthly Balance | Minimum Monthly Balance | Minimum Monthly Balance | Minimum Monthly Balance | Daily Balance | Minimum Monthly Balance | As agreed |
| Frequency of payment | Monthly | Monthly | Monthly | Monthly | Monthly | Monthly | On Maturity |
| Withdrawal conditions | On demand | On demand | On Demand | On Demand | On Demand | No withdrawal for the first 12 months | On Maturity |
Visa Debit and Credit Cards also available from our Card Centre. Call (242) 798851-6 for more information
| PERSONAL LOANS & OVERDRAFTS | ||||
|---|---|---|---|---|
| TENOR 3-36 MONTHS | MINIMUM LENDING RATE p.a plus a margin | ARRANGEMENT FEES UP TO 8% | INSURANCE 1% p.a | OVERDRAFT CHARGE 24% p.a WITHOUT ARRANGEMENT |
| MORTGAGE LOANS | |||||
|---|---|---|---|---|---|
| TENOR UP TO 15 YEARS | ESTABLISHMENT FEES 3% | VALUATION FEES 1% | INTEREST RATES UP TO 30% p.a | DEPOSIT 25% OF PURCHASE PRICE | ANNUAL MAINTAINANCE FEE ZWL250 |
| BUSINESS ACCOUNTS | |||||
|---|---|---|---|---|---|
| PRODUCT | BUSINESS NOSTRO FCA | BUSINESS CURRENT ACCOUNT | SME CURRENT ACCOUNT | INVESTMENT/CALL ACCOUNT | FIXED/TERM DEPOSIT |
| MINIMUM ACCOUNT BALANCE | USD25 | ZWL50 | ZWL25 | ZWL1,000 | ZWL10,000 |
| INTEREST RATES | Min 0.0001% p.a | Min 0.20 % p.a | Min 0.20 % p.a | Min 2% p.a. | Min 2% p.a. |
| INTEREST CALCULATION | Minimum Monthly Balance | Minimum Monthly Balance | Minimum Monthly Balance | Daily Balance | As agreed |
| FREQUENCY OF PAYMENT | Monthly | Monthly | Monthly | Monthly | On Maturity |
| 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. |
| 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. No Max | 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 HANDLING | 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 | ZWL25 | ZWL15 | ZWL3 | ZWL15 (Below Min Balance) |
USD10 | ZWL75 | ZWL25 | ZWL30 (Below Min Balance) |
| CASH WITHDRAWAL FEE | 2%; Min USD2 | 3%; Min ZWL3 | 3%; Min ZWL3 | 3%; Min ZWL3 | 3%; Min ZWL3 | 2%; Min USD2 | 3%; Min ZWL3 | 3%; Min ZWL3 | 3%; Min ZWL3 |
| ATM CASH WITHDRAWAL | 1% | 1.75% | 1.75% | 1.75% | 1.75% | 1% | 1.75% | 1.75% | 1.75% |
| INTER ACCOUNT TRANSFERS | USD2 | ZWL10 | ZWL10 | ZWL10 | ZWL10 | USD3 | ZWL10 | ZWL10 | ZWL10 |
| RTGS MANUAL | USD5 | 1%; Min ZWL15 Max ZWL50 |
1%; Min ZWL15 Max ZWL50 |
1%; Min ZWL15 Max ZWL50 |
1%; Min ZWL15 Max ZWL50 |
USD5 | 1%; Min ZWL15 Max ZWL50 |
1%; Min ZWL15 Max ZWL50 |
1%; Min ZWL15 Max ZWL50 |
| MERCHANT POS | ||
|---|---|---|
| MONTHLY CHARGE 1%; Min ZWL45 (KaGwenya) and Min ZWL95 (Standard POS) | EVENTS POS HIRE 1%; Min ZWL95 per hire | SEASONAL POS HIRE 1%; Min ZWL95 per month |
| OTHER CHARGES | |||||
|---|---|---|---|---|---|
| RTGS | N/A | INTERNET BANKING 1%; Min ZWL10 Max ZWL15 |
ACCOUNT STATEMENT / MINI STATEMENT | MOBILE BANKING ZWL1 | INTERNET BANKING No Charge |
| ZIPIT TO OTHER BANKS | MOBILE BANKING 0.5%; Min ZWL2.50 Max ZWL10 |
N/A | BILL PAYMENTS | MOBILE BANKING Upto ZWL5 | INTERNET BANKING Upto ZWL5 |
| DEBIT, PREFUNDED AND CREDIT CARDS | ||||||
|---|---|---|---|---|---|---|
| CARD ISSUANCE | ACCESS CARD ZWL10 | VISA CLASSIC EQUIVALENT TO USD10 | VISA GOLD USD12 | VISA PLATINUM USD15 | PURCHASES ON NMB POS (LESS THAN ZWL20) ZWL0.50 ; (ABOVE ZWL20) ZWL1.20 | POS BALANCE ENQUIRY ZWL0.50 |
| ECOCASH BANK TO WALLET TRANSFERS 1%; MIN ZWL5 | PREFUNDED CARDS ISSUANCE | VISA CLASSIC PREFUNDED USD10 | VISA GOLD PREFUNDED USD12 | VISA PLATINUM PREFUNDED USD15 | ||
| VISA PURCHASES | POS AND ONLINE 1.5%; PLUS USD2.50 | DECLINED TRANSACTION USD0.50 | VISA WITHDRAWALS | BRANCH CASH WITHDRAWAL 2%; PLUS USD3.50 | ATM WITHDRAWAL 2%; PLUS USD3 | |
