Last updated: September 2026
These terms apply to the Kredibility Finance website and form part of the loan application and approval process. A completed application is not a guarantee of approval. Where a loan is approved, the applicant's signed application, the client loan schedule and any facility documents supplied by Kredibility Finance (Private) Limited ("Kredibility") must be read together.
Key contractual terms at a glance
| Approval | An application becomes binding only after Kredibility approves the loan. |
|---|---|
| Interest | A fixed rate calculated on a reducing-balance basis, as stated in the client loan schedule. |
| Establishment fees | Payable upfront or deducted from the gross loan amount before disbursement. |
| Cooling-off period | Three working days after the loan amount has been paid. |
| Default penalty | 10% per month on the principal amount and primary interest until settlement. |
| Governing law | The laws of Zimbabwe, with jurisdiction in the Magistrates Court in Harare. |
1. Website use
This website is operated by Kredibility Finance (Private) Limited. By accessing or using this website, you agree to comply with these terms. Website content is provided for general information and does not constitute a binding offer of credit.
2. Declaration and authorisation by applicant
By completing and signing a loan application, the applicant declares and agrees that:
- the information provided in the application is correct;
- the applicant has seen the schedule of information setting out the full details of everything payable if the loan is granted, and that the details are the same as those shown before the agreement was signed;
- the terms of the agreement have been explained in a language the applicant understands, have been read to the applicant where necessary, and the applicant has been provided with a copy of the loan agreement terms and conditions and the client loan schedule; and
- where instalments are deducted from salary, the applicant may not unilaterally cancel that deduction until the loan has been repaid in full.
By signing the application, the applicant gives Kredibility permission to:
- contact any person or organisation to verify information supplied in the application;
- obtain information from any party concerning the applicant's financial status and banking details, including credit records and payment history;
- give information about the loan to any party, including a credit bureau;
- assign its right, title and interest in the agreement to any party or entity it nominates;
- report suspected fraud relating to the application to the Zimbabwe Republic Police or a similar organisation; and
- send the applicant marketing material and offers relating to other Kredibility products.
3. Application and approval
The applicant applies for a loan by completing and signing the application. The application becomes a binding agreement only when Kredibility approves the loan. If the applicant does not qualify for the amount requested, the applicant agrees that Kredibility may offer a lesser qualifying amount. All facilities remain subject to affordability assessment, income or business verification, supporting-document review and final credit approval.
4. Payment after approval
Once Kredibility approves the application, the loan will be paid only into the bank account stated in the application. The applicant agrees not to hold Kredibility responsible for damage or loss resulting from Kredibility transferring the loan to the account indicated by the applicant.
5. Interest rate
Interest is charged at a fixed rate calculated on a reducing-balance basis over the repayment period, as shown in the client loan schedule. The fixed rate may change because of developments in the financial-services sector. Kredibility will notify the borrower in writing at least 30 days before any change takes effect.
If payment is not made on the due date, or Kredibility grants an extension for payment, interest accruing on the full outstanding amount may be capitalised monthly at Kredibility's discretion. Interest will then be charged on the total outstanding amount at the fixed percentage recorded in the client loan schedule.
6. Establishment fees
Loan establishment fees are collected upfront when the loan is disbursed. If the applicant does not pay these fees separately, they will be deducted from the gross loan amount and only the net amount remaining after deduction will be paid into the applicant's account.
7. Borrower's obligations
The borrower must inform Kredibility if any of the following occurs:
- a material change in circumstances affecting the borrower's ability to repay the loan;
- withdrawal of an instruction for a stop order payable to Kredibility; or
- a change to any details supplied for the application.
8. Alterations to the agreement
The signed agreement, the applicable client loan schedule and documents expressly incorporated into them constitute the agreement between Kredibility and the borrower. Any alteration must be made in writing.
9. Renunciation of exceptions or benefits
The borrower renounces the benefits arising from legal exceptions or benefits, including non numeratae pecuniae (full payment did not follow), non causa debiti (there is no reason for the obligation), de duobus vel pluribus reis debendi (the benefit of being sued together), revision of accounts and error in calculation. The borrower acknowledges that, when defending a claim or challenging an obligation to pay the amount recorded under the agreement, the borrower bears the burden of proving that the amount is not payable.
10. Cooling-off period
Once the loan amount has been paid to the borrower, the contract is in effect and the borrower is obliged to repay the full contractual amount. Kredibility nevertheless allows the borrower a three-working-day cooling-off period.
11. Insurance
Loan insurance covers death, involuntary termination and permanent disability only. Kredibility will arrange the loan insurance and retains the right to request any other form of security it considers acceptable.
12. Repayment
After the loan has been paid into the borrower's bank account, the borrower owes Kredibility the full contractual amount stated in the loan rate and repayment schedule. The amount must be repaid in the instalments shown in the client loan schedule.
Repayments will be applied first to legal costs, if any; then to additional or penalty interest, if any; then to the total cost of credit; and lastly to reduce the balance of the amount originally advanced.
13. Early repayment
The administration or origination fee is non-refundable and will not be discounted on a pro-rata basis if the loan is settled early.
14. Default
If the borrower's employer fails to deduct an instalment from salary on time or at all, the borrower remains responsible for ensuring that the instalment is paid by the last day of the month in which it is due.
If the borrower defaults, Kredibility may demand immediate payment of the full amount due and owing. A penalty rate of 10% per month will accrue on the sum of the principal amount and primary interest and will continue to apply until the loan is settled.
15. Acceleration
The borrower gives Kredibility express permission to demand immediate payment of the whole outstanding amount from the borrower's termination benefits or final monies, as agreed by the employer. Exercising this right does not waive or limit any other rights available to Kredibility under the law.
16. Prescription
For the purposes of the Prescription Act (Chapter 08:11), any outstanding amount will be regarded as due on the date on which summons claiming payment is served.
17. Assignment
The borrower may not sell, assign or transfer any part of the borrower's rights or obligations under the agreement without Kredibility's prior consent.
18. Jurisdiction
The agreement is governed by the laws of Zimbabwe. Kredibility and the borrower agree that the Magistrates Court in Harare will have jurisdiction.
19. Notices and addresses
Notices or letters from Kredibility will be sent to the address or addresses stated in the loan application. They will be regarded as received within five days after being sent by registered post or email. The borrower must notify Kredibility in writing immediately after changing an address supplied in the application.
20. Calculator and website information
Any loan calculator or repayment illustration on this website provides indicative estimates only. Actual instalments, interest, fees and total repayment amounts will be confirmed in the client loan schedule or facility documents issued after approval. Kredibility takes reasonable steps to keep website information accurate but does not warrant that all content is complete or suitable for every individual circumstance.
21. Contact
Questions about these terms may be sent to admin@kredibilityfinance.co.zw or discussed with a Kredibility representative before an application or agreement is signed.