Our Loan Products

We have a range of loan products to suit all your needs.  For the latest view on our business conditions please click here.

Please review the information below and if you have any questions please get in touch with us.

  • Personal Loans
  • Payroll Based Loans
  • Education Loans
  • Home improvement Loans
  • Working Capital (Individual)
  • Working Capital (Corporate)

Personal Loan

Personal loan to help you to meet short term obligations like purchase of household goods or planning of special events like weddings.

PERSONAL LOAN GENERAL QUALIFYING CRITERIA-EMPLOYER GUARANTEED
  • Must be a Zimbabwean Citizen OR permanent legal residents with Valid ID particulars.
  • Passport size photo
  • Confirmation letter of employment from employer
  • Copy of identification particulars
  • Proof of residence which should not be more than 3 months old e.g. Electricity bill
  • 3 months bank statement showing that Salary has gone through the account for the last 3 months

EDUCATIONAL LOAN FACILITY

Helping nurture the seeds of greatness, access our Educational Loan facility

  • Copy of ID (Driver’s license/ passport)
  • 2 passport sized photos
  • Proof of residence
  • 6 months′ bank statement
  • Collateral – Motor vehicle, household assets, house, stand
  • Proof of repayment / source of income
  • Details of other security where applicable
If salary is the source of loan repayment, then additional documentation is required as stipulated below:
  • At least 6 months′ bank Statement
  • Confirmation of employment from the employer and should have been employed for at least 1 year
  • Current Original pay slip
CONDITIONS
  • All legal documents have to be executed jointly by the applicant and the spouse.
  • Payment will be sent directly to the school account
  • Applicants have to open a Savings account with African Century Limited (ACL)
  • Should be more than 21 years of age but less than 65 years of age.
  • For a business owner, should have been in business for at least 1 year
  • Maximum tenure - term -4months, semester - 6 months, Annual Fees -12 months
  • Borrowing limit is 3 times monthly gross salary,

HOME IMPROVEMENT LOAN FACILITY

For making repairs and upgrades of your property. Apply for Finance to renovate your dream home today.

  • Building
  • Extensions
  • Renovations
REQUIREMENTS
  • Raise 5% of the value of the loan applied for as deposit.
  • Copy of ID (Driver′s license/ passport)
  • 2 passport sized photos
  • Proof of residence – utility bills, ZESA, Telone or Council (affidavit from landlord, letter from pastor or councillor)
  • Bank statement (at least 6 months’ bank statements)
  • Bill of quantities (labour to be factored in when preparing the bill of quantities)
  • Copy of title deeds or local council proof of ownership
  • Quotations – labour and material
  • Proof of repayment / source of income
  • Valuation Report of the property
  • Details of other security where applicable
If one using salary to pay the loan the following additional information is required: -
  • At least 6 months′ bank Statement
  • Confirmation of employment from the employer and should have been employed for at least 1 year
  • Current Original pay slip
CONDITIONS
  • All legal documents have to be executed jointly by the applicant and the spouse.
  • Applicant to meet all legal costs and bond registration.
  • Applicants have to open a Savings account with African Century Limited (ACL)
  • Should be more than 30 years of age but less than 65 years of age.
  • For a business owner, should have been in business for at least 1 year
  • For construction, approved building plan from relevant authorities and construction must have started already
  • Copy of insurance certificate for the property to be developed

WORKING CAPITAL LOANS

Working capital loans for your entire short to medium term financial needs

CORPORATE WORKING CAPITAL LOAN FACILITY
  1. Financials:
    • 12 months′ cash flow projections
    • 6 months′ bank statements
    • 3 years′ financial statements; latest management accounts
    • Aged list of debtors
  2. Applicant:
    • ID Copy, 2 Passport sized photos, Proof of residence for all the directors
    • Directors′ resolution to borrow
    • Certificate of incorporation
    • Memos & Articles Association
    • CR14
    • CR6
    • CR2
    • Tax Clearance Certificate
    • Detailed Company profile
  3. Collateral:
    • Title deeds - bond registration to be done
    • Guarantees by all directors
  4. Terms and Conditions
    • Repayment Period: Over 12 months
  1. Financials:
    • 6 month sales records, 6 months′ bank statement, proof of income
  2. Applicant:
    • ID Copy, 2 Passport sized photos, Proof of residence
  3. Collateral:
    • Guarantor- ID copy, passport sized photo, proof of residence
    • Household assets/ Motor Vehicle/ Agreement of Sale for land or property/ Title deeds

Interest Rate, Application Fee, Administration Fee & Insurance costs to be discussed during the application process

  1. Financials:
    • 6 months′ sales records, 6 months’ bank statements, Financial Statements
  2. Applicant:
    • ID Copy, 2 Passport sized photos, Proof of residence for each director
    • Directors′ resolution to borrow
    • Certificate of incorporation, Memos & Articles Association, CR14, CR6, CR2, Tax Clearance Certificate, Company profile
  3. Collateral:
    • Guarantees by all directors
    • Household assets/ Motor Vehicle/ Agreement of Sale for land or property/ Title deeds

Interest Rate, Application Fee, Administration Fee & Insurance costs to be discussed during the application process