– WEALTH –
Accessible Savings for Every Step of Your Journey
Building a secure financial future starts with the right savings plan, and Zimbuka Plus makes it simple and rewarding. With a guaranteed annual interest rate of 10.15%, your savings grow steadily, starting with as little as N$250 per month. Whether you’re just beginning your savings journey or looking to expand your financial portfolio, Zimbuka Plus offers flexibility to adjust contributions and access funds with a 90-day notice period. Designed for both short-term goals and long-term financial security, it’s the smart choice for growing your wealth with confidence.
Building Financial Security
A strong savings foundation ensures long-term stability, helping you prepare for unexpected expenses and future financial goals.
Maximising Growth with Guaranteed Interest
With a fixed annual interest rate of up to 14.72%, your savings grow steadily over time through the power of compound interest.
Flexible Savings to Fit Your Need
Start saving with as little as N$250 per month and increase your contributions whenever you’re ready to boost your financial future.
Easy Access with Structured Withdrawals
Plan your financial journey with a 90-day notice period for withdrawals, ensuring disciplined savings while keeping your funds accessible.
Zimbuka Plus is the perfect savings solution for employees looking to start building their financial future, no matter where they are in their journey. With a minimum monthly savings amount of just N$250, this product offers a guaranteed interest rate of 10.15 percent per annum, helping your savings grow over time. Designed for those just beginning to save, Zimbuka Plus offers the flexibility to increase contributions and access your funds with a 90-day notice period. Whether you are saving for short-term goals or long-term security, Zimbuka Plus gives you the foundation to build your financial success.
Issue Date: 1 September 2022
Guaranteed Interest Rate: 10.15%
Minimum monthly savings amount (optional): N$250.00
Term: 12, 18, 24, 30, 36, 42, 48, 54, 60 months
Notice Period: 90 Days
Early Withdrawal Penalty: N$100.00 or 2% of the withdrawal amount, whichever amount is larger
General
This document should be read in conjunction with the Zimbuka Plus Policy Contract.
Zimbuka Plus is designed for employees of corporate companies who wish to save on a monthly basis via a salary order deduction. The product provides for a minimum monthly savings amount of N$250.00, which amount can be increased at any time during the duration of the policy. With this product Trustco Life creates a platform for savings that is accessible to people at entry level who wish to start their savings and investment journey.
Interest
Interest on the Zimbuka Plus is a guaranteed 10.15 % per annum for the duration of the initial term.
Interest shall be calculated on a daily basis and capitalized monthly. This allows the policyholder to enjoy the benefits of compound interest maximizing capital growth. Interest shall be calculated from the day that the funds reflect in the insurer’s bank account.
Interest shall be paid out on the maturity date with the capital or on redemption date when the policyholder has given notice on intention to terminate or withdraw.
Redemption of Capital
The capital paid into Zimbuka Plus on a monthly basis is guaranteed for the duration of the policy. The redemption of capital will be effected on maturity date, as indicated on Zimbuka Plus Application Form, either 12, 18, 24, 30, 36, 42, 48, 54 or 60 months.
The redemption payment will be made in Namibian Dollars on the redemption date by electronic transfer into the account of the policyholder. It is the responsibility of the policyholder to ensure their account details remain current at the insurer.
Should the policyholder wish to withdraw an amount or terminate the policy prior to the maturity date, 90 days written notice must be given by the policyholder to the insurer of such intention. Such notice can only be given on the 1″ or 15″ of a month.
In the event that the policyholder terminates the policy or makes an early withdrawal from the policy prior to the maturity date, a penalty is applicable. This penalty is either N$100.00 or 2 percent of the value of the capital withdrawal, whichever amount is the larger.