BUSINESS CONDITIONS LOANS OCTOBER 2023
Loans
Loan Type | Product | Amount | Maximum Loan Term | Interest Rate | Administration Fees | Insurance | Savings/Deposit Requirement (**negotiable) |
Micro leasing Asset Finance Loan 1(Individual)**
Micro leasing Asset Finance Loan 2(Individual) |
MALF1
MALF2 |
Minimum-$1,000
Maximum $ 3,000,000 |
12 months
12 months |
10% per month, straight-line
10% per month, straight-line |
10% up-front, once off
10% up-front, once off |
1%
1% |
10% of loan amount required**
20% of loan amount required |
Group Micro leasing Asset Finance Loan 1(Groups)**
Group Micro leasing Asset Finance Loan 2(Groups) |
GMALF1
GMALF2 |
Minimum-$1,000
Maximum $ 3,000,000 |
12 months
12 months |
10% per month, straight-line
10% per month, straight-line |
10% up-front, once off
10% up-front, once off |
1%
1% |
10% of loan amount required**
20% of loan amount required |
Micro-enterprise Bus. Loan 1
Micro-enterprise Bus. Loan 2
|
MEBL01
MEBL02
|
Minimum-$500
Maximum $500,000
Above $500,001
|
12 months
12 months |
10% per month, straight-line
15% per month, straight-line |
10% up-front, once off
10% up-front, once off |
1%
1% |
10% of loan amount required**
10% of loan amount required**
|
Joint Liability Group Loan 1
Joint Liability Group Loan 2
|
JLGL01
JLGL02
|
Minimum-$500
Maximum $500,000
Above $500,001
|
12 months
12 months |
10% per month, straight-line
15% per month, straight-line |
10% up-front, once off
10% up-front, once off |
1%
1% |
10% of loan amount required**
10% of loan amount required**
|
Micro Farming Loan 1
Micro Farming Loan 2
|
MICRL1
MICRL2 |
Minimum-$500
Maximum $500,000
Above $500,001
|
9 months
9 months
|
10% per month, straight-line
15% per month, straight-line |
10% up-front, once off
10% up-front, once off |
1%
1% |
10% of loan amount required**
10% of loan amount required** |
SME Loan 1
|
SMEL01
|
Minimum $1,000
Maximum $10,000,000
|
1-9 months
|
20% per month, straight-line | 10% up-front, once off | 1%
|
10% of loan amount required**
|
Civil Servants SSB Loans 1
Civil Servants SSB Loans 2
|
SSBSL1
SSBL2 |
Below $2,000,000
Above $2,000,000 |
1 – 6 months
1 -12 months |
10% per month, straight-line
15% per month, straight-line |
10% up-front once off
10% up-front once off |
1%
1%
|
Nil
Nil
|
Government Pensioners Loan
ZIMPET |
GPNL02
PENL01 |
Maximum $1,000,000
Maximum $1,000,000 |
1 – 12 months
1 – 12 months |
15% per month, straight-line
15% per month, straight-line |
10% up-front once off
10% up-front once off |
1%
1% |
Nil
Nil |
Corporate Lending
|
CPRTL03 | Maximum $2,000,000
|
1 – 12 months | 15% per month, straight-line | 10% up-front, once-off | 1% | Nil
|
Consumer Loan | CONL2 | Maximum $2,000,000
|
1 – 12 months | 15% per month, straight-line | 10% up-front, once-off | 1% | Nil
|
Individual Micro Vendor Loan
Group Micro Vendor Loan |
IMVL1,
GMVL1 |
Maximum $500,000
Above $500,000 |
1 – 12 months
1 – 12 months |
10% per month, straight-line
15% per month, straight-line
|
10% up-front, once-off
10% up-front, once-off |
1%
1% |
Nil
Nil |
Individual Bakery Loan
Group Bakery Loan |
IMICBL,
GMICBL |
Maximum $500,000
Above $500,000 |
1 – 12 months
1 – 12 months |
10% per month, straight-line
15% per month, straight-line
|
10% up-front, once-off
10% up-front, once-off |
1%
1% |
Nil
Nil |
BUSINESS CONDITIONS OCTOBER 2023 SAVINGS
Savings
Account Type | Working Woman
Personal Savings |
Pensioners
Account |
Micro Farming Savings** | Micro Enterprise Savings** | SME Savings | Group/Association/
Society** |
Fixed Deposit
(Contractual Savings) |
Minimum Balance | $200 | $200 | $200 | $200 | $2,000 | $1,000
|
$10,000 |
Account Opening Deposit | $2,500 | $2,500 | $2,500 | $2,500 | $5,000 | $5,000 | $10,000 |
Account Closure | $200 | $200 | $200 | $200 | $1,000 | $500 | N/A |
BUSINESS CONDITIONS OCTOBER 2023: ZIMSWITCH POS TRANSACTION FEES
ZIMSWITCH POS Transaction Fees
Account Type | Working Woman
Personal Savings |
Pensioners
Account |
Micro Farming Savings** | Micro Enterprise Savings** | SME Savings | Group/Association/
Society** |
Fixed Deposit
(Contractual Savings) |
Minimum Balance | $200 | $200 | $200 | $200 | $2,000 | $1,000
|
$10,000 |
Account Opening Deposit | $2,500 | $2,500 | $2,500 | $2,500 | $5,000 | $5,000 | $10,000 |
Account Closure | $200 | $200 | $200 | $200 | $1,000 | $500 | N/A |
Transaction Type | Working Woman
Personal Savings |
Pensioners
Account |
Micro Farming Savings | Micro Enterprise
Savings |
SME Savings | Group/Association/
Society |
Fixed Deposit
(Contractual Savings) |
Cash Deposit Fee | Nil | Nil | Nil | Nil | Nil | Nil
|
Nil |
Cash Withdrawal Fees-Slips | 3% Min $75 No Max | 3% Min $75
No Max |
3% Min $75
No Max |
3% Min $75
No Max |
3% Min $75
No Max |
3% Min $75
No Max |
Free |
Cash Withdrawal Fees-POS | 2.5% Min $50
Max $250 |
2.5% Min $50
Max $250 |
2.5% Min $50
Max $250 |
2.5% Min $50
Max $250 |
2.5% Min $50
Max $500 |
2.5% Min $50
Max $500 |
N/A |
Statement Request-Branch | $25 per page | $25 per page | $25 per page | $25 per page | $25 per page | $25 per page | free |
RTGS*(Above ZW$500 subject to 2% IMT Tax) | 1.5% Min $500
Max $2,500 |
1.5% Min $500
Max $2,500 |
1.5% Min $500
Max $2,500 |
1.5% Min $500
Max $2,500 |
1.5% Min $600
Max $5,000 |
1.5% Min $600
Max $3,000 |
|
Internal Transfer*
(Above ZW$300 subject to 2% IMT Tax) |
1% Min $100
Max $100 $350 |
1% Min $100
Max $350 |
1% $100
Max $350 |
1% Min $150
Max $750 |
1% Min $150
Max $750 |
1% Min $150
Max $500 |
N/A |
Credit Interest | 40% per annum | 40% per annum | 40% per annum | 40% per annum | 40% per annum | 40% per annum
|
80% per annum |
Balance Enquiry | $25 | $25 | $25 | $25 | $25 | $25 | $25 |
Withholding Tax on Credit Interest | 15% | 15% | 15% | 15% | 15% | 15% | 15% |
Monthly Service Fess | $100 | $100 | $100 | $100 | $500 | $500
|
Nil |
Transaction Type | ZW$ | |||
Initial Card | ZW$1,500.00
|
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Card Replacement | ZW$1,500.00
|
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Balance Enquiry | ZW$15.00
|
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Mini Statement | ZW$20.00
|
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POS Purchase |
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POS Purchase with Cash Back |
|
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POS Cash Back Limit | ZW$5,000 per week
ZW$20,000 per month
|
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Cash Withdrawal |
|
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|
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POS Purchase Limit | ZW$500,000 per day
|
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POS Transaction Limit | Per week ZW$3,500,000
|
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POS Payment Amount Limit | ZW$500,000/transaction
|