Terms and Conditions

Meridian Advance provides short-term payday loans to employees of partner employers. Your employer has agreed to act as a repayment collection agent only. The loan is made by Meridian Advance, funded by Meridian Advance, and your employer holds no liability for it.

You must be at least 18 years old, be currently employed by a partner employer, receive a regular monthly net salary paid into a bank account in your own name, and provide a guarantor who is not a dependant of yours.

Submitting the form does not create a loan. Meridian Advance assesses each application, normally within 24 hours, and may approve it in full, approve a lower amount, or decline it without giving reasons. A loan exists only once you have accepted a written agreement and funds have been disbursed.

The maximum you may borrow is one third of your stated monthly net salary, capped at $15,000. We may lower this where existing deductions or other commitments make the repayment unaffordable.

A fee of 15% per month is charged on the original loan amount only. The fee does not compound and no other charges apply on a loan performing to schedule. Representative example: a payday loan of $300 over 3 months at a fee of 15% per month on the original amount. Total fee $135. Monthly repayment $145. Total to repay $435.

Repayments are collected by monthly salary deduction, beginning on the first payroll run following disbursement, for the term you selected. You authorise your employer to make these deductions and remit them to Meridian Advance. You may repay early at any time with no penalty; unaccrued monthly fees fall away.

If you leave your employer for any reason, the outstanding balance becomes due and you must contact Meridian Advance immediately to agree a direct repayment arrangement. Where a deduction cannot be collected, we may recover the balance from you directly or from your guarantor.

You confirm the information you give is true and complete. Providing false information is grounds for immediate cancellation, recovery of the full balance, and referral to the relevant authorities.

These terms are governed by the laws of Zimbabwe and are subject to the jurisdiction of the Zimbabwean courts.