Payroll Services Loan Application (Civil Service)
1. TERMS & CONDITIONS
1.1 Lion Microfinance Limited (LMFL) will deduct all loan repayments on a monthly basis from your salary account through a direct debit deduction with SSB.
1.2 LMFL; reserves the right to take legal action either through the Magistrate’s Court of Harare or through arbitration via the Commercial Arbitration Centre of Zimbabwe
1.3 Further terms are incorporated in LMFL’s Standard Loan Letter, a copy of which is available upon request.
2.1 I certify that all information given on this application and in support thereof is true and correct. I understand that should the information prove to be incorrect, LMFL reserves the right to decline the application or call up the loan balance outstanding.
2.2 I undertake to provide all documents requested by LMFL, and to update all records in the event of change of any personal details.
2.3 I am truly and lawfully indebted to, liable, and hold myself bound to Lion Microfinance Limited for the due and proper payment of the amount stated in the rate schedule above and further acknowledge that my attention has been drawn to the terms and conditions of the loan facility and I undertake to abide by these terms and conditions.
2.4 I acknowledge that LMFL has the right to seek repayment directly from me in the event that my account is not serviced timeously through the SSB pay.
2.5 I authorise LMFL to recover any outstanding amount of the loan from me through SSB or my pensions fund
2.6 I choose domicilium citandi of the above given residential address.