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Business Conditions

As at August 2019

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 ZWL30 ZWL20 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 3 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. Establishment fees upto 5% Guarantee Commissions: 2% quartely
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 ZWL30 ZWL20 ZWL5 ZWL15
(Below Min Balance)
USD10 ZWL150 ZWL150 ZWL30
(Below Min Balance)
CASH WITHDRAWAL FEE 2%; Min USD2 3%; Min ZWL5 3%; Min ZWL5 3%; Min ZWL5 3%; Min ZWL5 2%; Min USD2 3%; Min ZWL5 3%; Min ZWL5 3%; Min ZWL5
ATM CASH WITHDRAWAL N/A 3%; Min ZWL4 3%; Min ZWL4 3%; Min ZWL4 3%; Min ZWL4 N/A N/A N/A N/A
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

 

 

INTERNET BANKING CHARGES
NMB TO NMB THIRD PARTY TRANSFERS 1%; Min ZWL5
Max ZWL10
ACCOUNT STATEMENT No Charge
OWN NMB ACCOUNTS TRANSFERS No Charge BILL PAYMENTS Upto ZWL5
RTGS 1%; Min ZWL15
Max ZWL300
BALANCE ENQUIRY No Charge

 

MOBILE BANKING CHARGES
NMB TO NMB THIRD PARTY TRANSFERS 1%; Min ZWL5
Max ZWL10
BILL PAYMENTS Upto ZWL5
ZIPIT TO OTHER BANKS 0.5%; Min ZWL7
Max ZWL50
BALANCE ENQUIRY ZWL0.75
MINI STATEMENT ZWL1 RTGS 1%; Min ZWL15 Max ZWL300

 

DEBIT, PREFUNDED AND CREDIT CARDS
CARD ISSUANCE ACCESS CARD ZWL30 VISA CLASSIC EQUIVALENT TO USD10 VISA GOLD USD12 VISA PLATINUM USD15
PURCHASES ON NMB POS (LESS THAN ZWL20) ZWL0.50 ; (ABOVE ZWL20) ZWL1.20 0.5%; Min ZWL1 Max ZWL10 POS BALANCE ENQUIRY ZWL0.50 CARD REPLACEMENT ZWL30 VISA GOLD PREFUNDED USD12 VISA PLATINUM PREFUNDED USD15
ECOCASH BANK TO WALLET TRANSFERS 1%; MIN ZWL5

 

PREFUNDED AND CREDIT CARDS
VISA CLASSIC PREFUNDED USD10 VISA GOLD PREFUNDED USD12 VISA PLATINUM PREFUNDED USD15 VISA GOLD USD12 VISA PLATINUM 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

 

PREFUNDED AND CREDIT CARDS PREFUNDED AND CREDIT CARDS
VISA CLASSIC PREFUNDED USD10 VISA CLASSIC PREFUNDED USD10
PURCHASES VISA CLASSIC PREFUNDED USD10
ATM WITHDRAWAL 2%; PLUS USD3 VISA CLASSIC PREFUNDED USD10