The Applicant must read and accept the terms and conditions on the e-application form

  1. I/We acknowledge that Finserve Capital reserves the right to periodically review my/our loan facility. At any time, with notice delivered to my/our residential address as provided, Finserve Capital may suspend the loan facility and/or demand immediate repayment of all outstanding amounts related to my/our loan and any overdrawn current account, including accrued interest.
  2. Should Finserve Capital incur any legal expenses in the process of recovering amounts due under this loan facility, I/we agree that such legal costs—on an attorney-client scale—together with any collection fees charged by its legal practitioners, will be recoverable from me/us.
  3. I/We hereby authorize Finserve Capital to set off the outstanding loan balance and accrued interest against any credit balances held in any other accounts under my/our name(s) with Finserve Capital.
  4. I/We understand that I/we must not exceed the agreed loan and/or overdraft limits set by Finserve Capital.
  5. I/We agree to pay a drawdown fee of 2% (minimum US$50) on the gross borrowed amount.
  6. I/We agree to pay an establishment fee of 2% (minimum US$50) on the gross borrowed amount.
  7. I/We authorize Finserve Capital to deduct an insurance premium of 1% per annum on the gross loan amount. I/We understand that Finserve Capital will procure an insurance policy on my/our behalf, which shall be binding on me/us and available for review at Finserve Capital’s Head Office upon request.
  8. I/We choose the residential address provided above as my/our domicilium citandi et executandi and hereby submit to the jurisdiction of the courts of Zimbabwe for any disputes arising from this agreement, even if I/we am/are domiciled outside Zimbabwe at the time proceedings are initiated.
  9. In the event of default, including failure to make any scheduled payment on time, Finserve Capital reserves the right—without notice—to demand immediate settlement of all existing and contingent obligations, whether or not they are currently due. Finserve Capital also reserves the right to withhold access to any further financial facilities.
  10. I/We understand that interest will be charged on the outstanding loan balance at a rate of 8% per month, accruing daily.
  11. Any overdue payments or amounts that become immediately payable following a demand by Finserve Capital will attract penalty interest at a rate of 15% per month. This rate is subject to change, with notice provided in writing by Finserve Capital from time to time.
  12. I/We consent to Finserve Capital collecting, using, and disclosing my/our credit information in accordance with the provisions of the Access to Information and Protection of Privacy Act (Chapter 10:27).
  13. I/We understand that early repayment of the loan will not attract any penalty charges.