SmartSave

A flexible savings account that allows individuals or collectives to save over reasonable longer periods with provisions for making frequent additional deposits into the account. To encourage saving, clients will only be able to make their first withdrawal after 3 months and are allowed a maximum of 4 withdrawals per year 

Account Opening Requirements

  • Initial deposit.
  • Original and clear copy of ID (National ID, Driver’s License or valid passport).
  • Current proof of residence (Latest Utility Bills, Letter from Employer, Headmaster, Chiefs or District District).
  • Club Constitution/ Resolution/ Minutes (for Club Savings accounts).

Benefits

  • Tax free interest at competitive rates.
  • No monthly service fees.
  • No withdrawal fees.
  • Nominal minimum balance required.
EasySave

 A term deposit from a minimum of 1 month up to 12months with an option to withdraw or roll over at prevailing interest rates upon maturity. The EasySave Account is ideal for individuals or groups desiring to save towards a specific goal over a specific time frame. 

Account Opening Requirements

  • Initial deposit.
  • Original and clear copy of ID (National ID, Driver’s License or valid passport).
  • Current proof of residence (Latest Utility Bills, Letter from Employer, Headmaster, Chiefs or District District).
  • Club Constitution/ Resolution/ Minutes (for Club Savings accounts).

Benefits

  • Tax free interest at competitive rates.
  • No monthly service fees.
  • No withdrawal fees.
  • The investment can be used as security for a loan of up to 80% of the investment amount.
JuniorSave

With POSB you are never too young to start saving. Parents can open Junior Save accounts for their children from birth up to the age of 16years. 

Account Opening Requirements

  • Initial deposit.
  • Child’s original and clear copy of ID (National ID, Driver’s License or valid passport).
  • Parent/ guardian’s original and clear copy of ID (National ID, Driver’s License or valid passport).
  • Parent/ guardian’s current proof of residence (Latest Utility Bills, Letter from Employer, Headmaster, Chiefs or District District).

Benefits

  • Tax free interest at competitive rates.
  • No monthly service fees.
  • No withdrawal fees.
  • Account holders can be issued with a ZimSwitch enabled debit card for ease of transacting.
  • Encourages saving culture as clients will only be able to make their first withdrawal after 3 months and are allowed a maximum of 4 withdrawals per year.
Trust Account

An investment account targeting individuals, group of individuals and corporates who want to make savings and investments for different beneficiaries. 

Account Opening Requirements

  • Original ID (National ID, Driver’s License or valid passport)
  • Copy of ID
  • Proof of Residence
  • Trustees’ copies of IDs
  • Copy of Trust deed
  • List of signatories to the account

Benefits

  • Earn tax free interest
  • Make investments for future generations
  • Provide for those who may not be able to manage their own affairs