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

  1. I understand that Finserve Capital may periodically review my loan facility and, at any time, may suspend the facility and/or require immediate repayment of all outstanding amounts—including those related to my loan and any overdrawn current account—together with all accrued interest, by providing notice to my residential address as stated.
  2. Should Finserve Capital incur any legal expenses in recovering amounts due under this loan facility, I agree that such legal costs—on a legal practitioner and client basis—along with any collection charges levied by its legal representatives, will be recoverable from me.
  3. I authorize Finserve Capital to set off the outstanding loan balance and accrued interest against any credit balances held in any other accounts I may have with Finserve Capital.
  4. I understand that I must not exceed the loan and/or overdraft limit agreed with Finserve Capital.
  5. I authorize Finserve Capital to immediately deduct arrangement fees amounting to 2% (minimum US$50) of the gross loan amount.
  6. I also authorize Finserve Capital to deduct an application fee of US$25 from the disbursed loan amount.
  7. Additionally, I authorize Finserve Capital to deduct 1% of the gross loan amount as an insurance premium. I understand that Finserve Capital will arrange this insurance policy, which shall be binding on me and available for review at Finserve Capital’s Head Office upon request.
  8. I designate the residential address provided above as my domicilium citandi et executandi and submit to the jurisdiction of the courts of Zimbabwe for any disputes arising from this agreement, even if I am domiciled outside Zimbabwe at the time proceedings commence.
  9. In the event of any default, including failure to make a scheduled instalment payment, Finserve Capital shall be entitled—without prior notice—to demand immediate settlement of all existing and contingent obligations, whether or not currently due, and to withhold access to any further facilities.
  10. I understand that interest will be charged on the outstanding loan balance at a rate of 10% per month, with interest accruing daily.
  11. I acknowledge that my salary will be paid into my current account for the duration of the loan. Any diversion or cessation of salary payments will render the entire outstanding loan balance and accrued interest immediately payable.
  12. Any unpaid amounts that remain beyond the agreed repayment date, or that become immediately due following demand by Finserve Capital, will attract penalty interest at a rate of 15% per month. This rate is subject to change upon written notice from Finserve Capital.
  13. I agree that Finserve Capital may collect, use, and disclose my credit information as provided in this agreement and/or as obtained in accordance with the Access to Information and Protection of Privacy Act (Chapter 10:27).