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Business Conditions

As at May 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 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 2% VALUATION FEES 1% INTEREST RATES UP TO 15% 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
MINIMUM ACCOUNT BALANCE USD25 ZWL50 ZWL25 ZWL1,000
INTEREST RATES Min 0.0001% p.a Min 0.20 % p.a Min 0.20 % p.a Min 2% p.a.
INTEREST CALCULATION Minimum Monthly Balance Minimum Monthly Balance Minimum Monthly Balance Daily Balance
FREQUENCY OF PAYMENT Monthly Monthly Monthly Monthly
WITHDRAWAL CONDITIONS On Demand On Demand On Demand On Demand
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 TRANSACTIONAL FEES
IMPORT AND EXPORT DOCUMENTATION
EXPORTER REGISTRATION ZWL20 PRIOR EXCON APPLICATION ZWL50 DOCUMENTARY COLLECTION
PRE STAMPED AUTHORITY ZWL20 FORM CD1 ZWL5 CAPITAL ACCOUNT TRANSACTION
IMPORTER REGISTRATION ZWL20 BULK FORM CD1 ZWL50 CD3 ADMINISTRATION FEE
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
BANKING 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 ZWL15 ZWL10 ZWL1 ZWL15
(Below Min Balance)
USD10 ZWL40 ZWL25 ZWL30
(Below Min Balance)
CASH WITHDRAWAL FEE 2%; Min USD2 2%; Min ZWL2 2%; Min ZWL2 2%; Min ZWL2 2%; Min ZWL2 2%; Min USD2 2%; Min ZWL2 2%; Min ZWL2 2%; Min ZWL2
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 USD5 ZWL10 ZWL10 ZWL10 ZWL10 USD5 ZWL10 ZWL10 ZWL10
MERCHANT POS
MONTHLY CHARGE 1%; Min ZWL30 (KaGwenya) and Min ZWL75 (Standard POS) EVENTS POS HIRE 1%; Min ZWL75 per hire SEASONAL POS HIRE 1%; Min ZWL75 per month
OTHER CHARGES
RTGS N/A INTERNET BANKING ZWL10 ACCOUNT STATEMENT / MINI STATEMENT MOBILE BANKING ZWL0.50 INTERNET BANKING ZWL0.50
ZIPIT TO OTHER BANKS MOBILE BANKING ZWL2.50 N/A BILL PAYMENTS MOBILE BANKING ZWL2.50 INTERNET BANKING ZWL2.50
DEBIT, PREFUNDED AND CREDIT CARDS
DEBIT CARDS ISSUANCE ACCESS CARD ZWL10 VISA CLASSIC EQUIVALENT TO USD10 VISA GOLD USD12 VISA PLATINUM USD15 PURCHASES ON NMB BANK POS ZWL0.50 POS BALANCE ENQUIRY ZWL0.50
ECOCASH BANK TO WALLET TRANSFERS 1%; MIN ZWL3 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