A personal loan is an advance extended to customers who maintain current or savings accounts with BancABC and has proof of consistent income. It is based on the borrower's credit rating and has a variable interest rate over a fixed term. The capital as well as interest is repaid monthly from the customer's current / savings account over the agreed period.

Qualifying Criteria

• Existing BancABC account holder for at least 3 months
• Salary paid into the BancABC Account for the past 3 months
• Permanently employed, for at least 3 months
• Customer must be older than 18 years

Qualifying Conditions

• Minimum qualifying net salary of only US$500
• Loan amount of maximum 2.5 times net salary and subject to affordability
• Minimum loan amount of US$1000 and Maximum loan amount of US$20 000
• Repayment period 3 to 12 months (Note: In Zimbabwe we will initially not do longer terms because of market liquidity)
• Repayments to this, and other existing loans should not exceed 40% of net salary
• Interest rate will fluctuate in relation to market conditions

To Apply for Personal Loan

Simply bring the following to any of our branches:

• Proof of employment ,i.e., pay slip not older than 2 months
• Positive Identification ,i.e., National ID, Valid passport, Valid driver's license
• Proof of residence, i.e. Utility bills not older than 3 months

BRANCH LOCATOR