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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 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