Current banking arrangements with other banks. (Bank, branch, account number, branch/relationship manager, time with the Bank.)
Cash flow projection covering the tenor of the facilities being applied for.
Tobacco growers to also submit grower’s number.
Attach copies of quotations from reputable suppliers for Capital Items to be financed.
Cash budget for crop to be produced (outlining prices of inputs and output as well as expected profit).
Production schedule outlining hectarage, timelines and expected yields.
Irrigated/dryland farming (to be stated clearly in a brief business outline).
Collateral: immovable property with title deed and valuation report/ cash deposits/investments personal / group guarantees (Terms and Conditions apply.)
School Development Loans Asset Financing
Under this arrangement, the Bank remains the legal owner of the asset until it is fully paid up by the customer. Thus the Bank and the customer/school enter into a Lease Hire agreement whereby the school would be expected to pay agreed rentals (principal loan plus interest) for an agreed period of time. The asset will be comprehensively insured and the cost being borne by the customer. Other operating costs such as maintenance and servicing of the asset will be borne by the customer. Upon full payment of the extended loan, ownership of the asset will be transferred to the customer.
Additional Requirements
School Account which receives school fee payments with POSB and has operated for at least 1 month.
CORPORATE ACCOUNT
SME ACCOUNT
Investment Banking – CERTIFICATE OF DEPOSIT
Investment Banking – BANKER’S ACCEPTANCES
Investment Banking – CALL ACCOUNT
Corporate loans
Agribusiness Loans
School Development Loans
Corporate Account Requirements
Initial deposit.
Certificate of Incorporation.
Memorandum and Articles of Association.
CR14 & CR6.
Valid Tax Clearance (ITF 263).
Local authority operating license.
Directors’ Identity Documents (IDs and Proof of residence).
Benefits
Attractive tax free interest on savings and investments.
Access to corporate loans and overdraft facilities.
Convenience of around the clock banking with the Online Banking platform.
Access to a wide physical distribution network of 32 branches nationwide.
Access to the Bank’s International Banking Services to facilitate across the border transactions.
Corporate can be issued with a ZimSwitch enabled debit card which allows for ease of transacting.
Access to Merchant POS Machines to facilitate card based transactions.
Low bank charges.
Accounts can be used for salaries processing.
Dedicated Account Relationship Manager.
Assurance from banking with a tried and tested financial institution.
SME Account Opening Requirements
Certificate of Incorporation
Memorandum and Articles of Association
Tax clearance certificate
CR14 & CR6
Directors’ original and clear photocopy of ID ( National ID, Driver’s License or valid passport)
Directors’ current proof of residence ( Latest utility bills; letter from employer, Headmaster, Chiefs, or District office)
Benefits
Low bank charges.
Attractive tax free interest on deposits.
A ZimSwitch enabled debit card can be issued to allow ease of transacting.
Access to a ZimSwitch enabled POS machine to facilitate card based transactions.
Access to around the clock banking with CellBank, ‘On the Go’ App and Online Banking platforms.
Customers can also access loan and overdraft facilities at low interest rates.
Investments Banking CERTIFICATE OF DEPOSIT Benefits/Key selling Points
Current banking arrangements with other banks. (Bank, branch, account number, branch/relationship manager, time with the Bank.)
Cash flow projection covering the tenor of the facilities being applied for.
Tobacco growers to also submit grower’s number.
Attach copies of quotations from reputable suppliers for Capital Items to be financed.
Cash budget for crop to be produced (outlining prices of inputs and output as well as expected profit).
Production schedule outlining hectarage, timelines and expected yields.
Irrigated/dryland farming (to be stated clearly in a brief business outline).
Collateral: immovable property with title deed and valuation report/ cash deposits/investments personal / group guarantees (Terms and Conditions apply.)
School Development Loans Asset Financing
Under this arrangement, the Bank remains the legal owner of the asset until it is fully paid up by the customer. Thus the Bank and the customer/school enter into a Lease Hire agreement whereby the school would be expected to pay agreed rentals (principal loan plus interest) for an agreed period of time. The asset will be comprehensively insured and the cost being borne by the customer. Other operating costs such as maintenance and servicing of the asset will be borne by the customer. Upon full payment of the extended loan, ownership of the asset will be transferred to the customer.
Additional Requirements
School Account which receives school fee payments with POSB and has operated for at least 1 month.
