Terms and Conditions
Download the business Conditions here
| PERSONAL ACCOUNTS | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| PRODUCT | NOSTRO-LITE/CIVIL SERVANTS NOSTRO | NOSTRO FCA | EXCELLENCE NOSTRO | CURRENT ACCOUNT – PREMIUM | CURRENT ACCOUNT – BASIC | CIVIL SERVANTS – CURRENT ACCOUNT | EXCELLENCE | NMBLITE ACCOUNT | SAVINGS ACCOUNT | FIXED/TERM DEPOSIT |
| INITIAL DEPOSIT | USD 10 | USD 20 | USD 50 | ZWL 6,000 | ZWL 3,000 | ZWL 2,000 | ZWL 10,000 | ZWL 2,000 | ZWL 10,000 | ZWL 300,000 |
| MINIMUM ACCOUNT BALANCE | USD 5 | USD 15 | USD 50 | ZWL 3,000 | ZWL 1,500 | ZWL 1,000 | ZWL 5,000 | ZWL 1,000 | ZWL 5,000 | ZWL 300,000 |
| WITHDRAWAL CONDITIONS | On Demand | On Demand | On Demand | On Demand | On Demand | On Demand | On Demand | On Demand | On Demand | On Maturity |
| PERSONAL LOANS & OVERDRAFTS | ||||
|---|---|---|---|---|
| TENOR 3-24 MONTHS | MINIMUM LENDING RATE p.a plus a margin | Arrangement Fees Up to 8%; Min ZWL 7,500 | Insurance 1% Min p.a; 2% Max p.a | |
| MORTGAGE LOANS | |||||
|---|---|---|---|---|---|
| TENOR UP TO 3 YEARS | ESTABLISHMENT FEES 3% | VALUATION FEES 1% | INTEREST RATES UP TO 80% p.a | DEPOSIT 25% OF PURCHASE PRICE | ANNUAL MAINTENANCE 1% OF LOAN AMOUNT |
| BUSINESS ACCOUNTS | ||||||
|---|---|---|---|---|---|---|
| PRODUCT | BUSINESS NOSTRO FCA | BUSINESS CURRENT ACCOUNT | SME NOSTRO FCA | SME CURRENT ACCOUNT | INVESTMENT/CALL ACCOUNT | FIXED/TERM DEPOSIT |
| INITIAL DEPOSIT | USD 100 | ZWL 20,000 | USD 100 | ZWL 10,000 | ZWL 10,000 | ZWL 500,000 |
| MINIMUM ACCOUNT BALANCE | USD 100 | ZWL 15,000 | USD 100 | ZWL 6,000 | ZWL 10,000 | ZWL 500,000 |
| WITHDRAWAL CONDITIONS | On Demand | 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 |
| TELEGRAPHIC TRANSFERS | |||
|---|---|---|---|
| OUTGOING TELEGRAPHIC TRANSFER | 0.5%; Min USD 30; Max USD 350 | HANDLING FEE | USD 5 |
| FOREIGN BANK CHARGE | 1%; Min USD 50; Max USD 150 | PAYMENT CANCELLATION/AMENDMENT | USD 20 |
| LETTERS OF CREDIT | |||
|---|---|---|---|
| ESTABLISHMENT FEE | 0.75% flat USD | DOCUMENT COLLECTION | USD 150 |
| ACCOUNT SERVICE CHARGES | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NOSTRO-LITE/CIVIL SERVANTS NOSTRO | PERSONAL NOSTRO FCA |
EXCELLENCE NOSTRO | PERSONAL CURRENT ACCOUNT PREMIUM |
PERSONAL CURRENT ACCOUNT BASIC |
CIVIL SERVANTS CURRENT ACCOUNT | EXCELLENCE | FARMERS | NMBLITE ACCOUNT | PERSONAL SAVINGS ACCOUNT |
BUSINESS NOSTRO FCA |
SME CURRENT NOSTRO |
BUSINESS CURRENT ACCOUNT |
SME CURRENT ACCOUNT |
BUSINESS SAVINGS ACCOUNT |
|
| MONTHLY SERVICE FEES | USD 1.50 | USD 5 | USD 15 | ZWL 1,000 | ZWL 500 | ZWL 500 | ZWL 3,000 | ZWL 300 | ZWL 300 | ZWL 300 (Below Min Balance) |
USD 30 | USD 30 | ZWL 2,000 | ZWL 5,000 | ZWL 500 (Below Min Balance) |
| CASH WITHDRAWAL FEE | 2%; Min USD 3 | 2%; Min USD 5 | 2%; Min USD 5 | 3%; Min ZWL 150 | 3%; Min ZWL 150 | 3%; Min ZWL 150 | 3%; Min ZWL 150 | 3%; Min ZWL 150 | 3%; Min ZWL 150 | 3%; Min ZWL 150 | 2%; Min USD 10 | 2%; Min USD 10 | 3%; Min ZWL 300 | 3%; Min ZWL 300 | 3%; Min ZWL 300 |
| ATM CASH WITHDRAWAL | 2%; Min USD 2 | 2%; Min USD 2 | 2%; Min USD 2 | 3%; Min ZWL 100 | 3%; Min ZWL 100 | 3%; Min ZWL 100 | 3%; Min ZWL 100 | 3%; Min ZWL 100 | 3%; Min ZWL 100 | 3%; Min ZWL 100 | N/A | N/A | N/A | N/A | N/A |
| INTER ACCOUNT TRANSFERS | USD 3 | USD 3 | USD 3 | 1%; Min ZWL 200; Max ZWL 2,000 |
1%; Min ZWL 200; Max ZWL 2,000 |
1%; Min ZWL 200; Max ZWL 2,000 |
1%; Min ZWL 200; Max ZWL 2,000 |
1%; Min ZWL 200; Max ZWL 2,000 |
1%; Min ZWL 200; Max ZWL 2,000 |
1%; Min ZWL 200; Max ZWL 2,000 |
USD 3 | USD 3 | 1%; Min ZWL 200; Max ZWL 2,000 |
1%; Min ZWL 200; Max ZWL 2,000 |
1%; Min ZWL 200; Max ZWL 2,000 |
| RTGS MANUAL | 1%; Min USD 5; Max USD 10 |
1%; Min USD 5; Max USD 10 |
1%; Min USD 5; Max USD 10 |
1%; Min ZWL 500; Max ZWL 5,000 |
1%; Min ZWL 500; Max ZWL 5,000 |
1%; Min ZWL 500; Max ZWL 5,000 |
1%; Min ZWL 500; Max ZWL 5,000 |
1%; Min ZWL 500; Max ZWL 5,000 |
1%; Min ZWL 500; Max ZWL 5,000 |
1%; Min ZWL 500; Max ZWL 5,000 |
1%; Min USD 5; Max USD 10 |
1%; Min USD 5; Max USD 10 |
1%; Min ZWL 500; Max ZWL 5,000 |
1%; Min ZWL 500; Max ZWL 5,000 |
1%; Min ZWL 500; Max ZWL 5,000 |
| MERCHANT POS | |
|---|---|
| MONTHLY CHARGES | 1%; Min ZWL 2,000 (KaGwenya) and Min ZWL 3,000 (Standard POS) |
| EVENTS POS HIRE | 1%; Min ZWL 10,000 per hire |
| SEASONAL POS HIRE | 1%; Min ZWL 4,000 per month |
| IDLE POS | ZWL 5,000 |
| DEBIT, PREFUNDED AND CREDIT CARDS | ||||||
|---|---|---|---|---|---|---|
| CARD ISSUANCE | ACCESS CARD (CPA) ZWL 750 | TAP CARD ZWL 500 | VISA CLASSIC USD 5 | VISA GOLD USD 5 | VISA PLATINUM USD 15 | VISA SIGNATURE USD 30 |
| VISA INFINITY USD 30 | POS PURCHASES (LESS THAN ZWL 500) ZWL 10; (ABOVE ZWL 500) 1%; MIN ZWL 40; MAX ZWL 500 | ZIMSWITCH PURCHASE 1%; MIN ZWL 40; MAX ZWL 500 PLUS ZIMSWITCH FEE | ||||
| CARD REPLACEMENT ZWL 750 | ECOCASH BANK TO WALLET TRANSFERS 2.5%; MIN ZWL 100 | ZIMSWITCH INSUFFICIENT FUNDS ZWL 10 PLUS ZIMSWITCH FEE | ||||
| OTHER CHARGES | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| RTGS | MOBILE BANKING | Individual | 2%; Min Max ZWL 4,000 | Nostro | 1%; USD 4 Max USD 8 | MINI STATEMENT /BALANCE ENQUIRY |
MOBILE BANKING: ZWL 30
INTERNET: ZWL 50 |
NOSTRO : USD 0.12 | ||
| INTERNET | Corporate | 2%; Min ZWL 1,000 Max ZWL 5,000</td | BILL PAYMENTS |
INTERNET /MOBILE BANKING |
2.5%; Min ZWL 100 Max ZWL 2,500 | NOSTRO | USD 0.50 | |||
| ZIPIT TO OTHER BANKS | MOBILE BANKING: 2%; Min ZWL 100 | NOSTRO: 1%; Min USD 2; Max USD 4 | ECOCASH BANK TO WALLET TRANSFERS: 2.5%; MIN ZWL 100 |
ZIMSWITCH PURCHASE 1% Min ZWL 40, Max ZWL 500 plus ZIMSWITCH FEE |
SALARY BULK PAYMENTS | RTGS | ZWL 300 per record | |||
| ZIMSWITCH INSUFFICIENT FUNDS ZWL 10 plus ZIMSWITCH FEE |
NOSTRO | USD 3 per record | ||||||||
