Loans- Individual

I need a personal loan, what are the requirements?

The requirements for personal loans are:

  • Current payslip
  • 3 months bank statement or 3 consecutive payslips
  • Confirmation of employment
  • Proof of residence
  • Passport photo
  • Original and valid Identification document.
How long is the waiting period?

It takes 1 working day/ 24 hours.

Does anyone qualify for the loan?
  • Government Pension, Civil Servants, Uniformed forces excl. FBC Bank, Crown Bank ,FBC Building Society & Air force.
  • NSSA pensions if you bank with FBC.
  • Referred FBC account holders.
  • University staff members: UZ, ZOU, HIT. MSU, NUST, BUSE, LUT, CUT, GZU
How much can I get?

3 times one’s monthly net salary before Covid allowance.

What are the upfront charges? 
  • Establishment fees @6% of loan amount.
  • Loan Insurance @ 2% of loan amount.
  • Funds transfer ZWL$100.00 flat.
  • Loan application fees @ zwl$200.00 flat.   
Do these charges apply to all loan products? 

Yes, except for the Pay day loan facility.

Which products fall under individual loans? 

Home improvement, ICT gadgets, Medical, Emergency, Motor Bikes, Motor vehicle licencing: servicing & repairs, Consumption, School fees, Agriculture, Poultry etc.

Who are the suppliers of vendor facilities?

Various across all industrial sectors

Is it possible to pay off my loan early before the agreed maturity date?

Yes

Can I do my application online?

Not at the moment.

I am a repeat client, should I bring new loan requirement documents?

Yes, current documents are required

How do you arrive at the instalment you charge for your loans?

Interest is charged on the capital balance at the beginning of each month.

What is the maximum loan tenure?

12 months.

Do you offer USD loans?

No

Do I get my loan in cash?

No, loan proceeds are transferred to your account of choice.

What is the loan minimum amount?

ZWL$1 000.00

What is the loan maximum amount?

3 times one’s monthly net salary

How do you arrive at the instalment you charge for your loans?

Reducing balance method.

What is the minimum loan tenure ? 

1 month

What is a pay day loan?

Emergency loan usually amount required is below an individual’s net salary. Repayment period is 1-3 months. Product does not have upfront charges.

Who qualifies for a Pay day loan?

  • Civil servants excl. Airforce & FBC Bank, Crown Bank ,FBC Building Society
  • University employees
Does a Pay day loan have the same requirements with all the other loans?

Yes, one needs to provide the required documents.

Can I get a Pay day loan if I have a running loan with Microplan?

Yes, if one meets qualifying criteria.

Do you offer Motor bikes, motor vehicles and smart phones?

We have partners where one can select and collect their gadgets from. Unfortunately, motor vehicles are no longer on offer.

How do I get a phone or motor bike?

Liaise with partners for cost and choice of gadget.