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USD Personal loan
TERMS AND CONDITIONS
- Salary must be credited into the account at least three times before the bank considers a loan application
- Tenors available: 6 months, 12 months, 18 months, 24 months, 36 months
- Arrangement fee is 1% flat and insurance is 3% flat (Paid upfront)
- Maximum loan amount is US$10,000.00 (Unsecured) & Minimum loan amount is US$1,000.00 @18% per annum
- Loans are based on affordability, with monthly repayments not to exceed 30% of net salary.
- Calculations are as follows:
- Over 36 months : 7.6 times net salary
- Over 24 months : 5.6 times net salary
- Over 18 Months : 4.4 times net salary
- Over 12 Months : 3.1 times net salary
- Over 6 months: 1.6 times net salary
- Re-advance to clients with existing ZWL personal loans can only be considered after repayment of at least 25% of the existing ZWL loans or alternatively after retirement of ZWL loans from sources other than additional loans from the Bank
- Re-advance on USD loans can only be considered after repayment of 25% of the original loan disbursed.
- Personal loans are salary-based
LOAN APPLICATION REQUIREMENTS:
• Copy of national ID
• Current pay-slip
• Proof of residence - co-habitant form or company provides letter on company letterhead stipulating name, ID number and Address or utility bill/prepaid utility receipt within the last 3 months
• Letter of undertaking from employer, on company letterhead (as attached) and signed by Human Resources Manager
• Completed loan application form
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