Banking in 2026: More Support for Producers and Less Fees for You A fresh look at the Reserve Bank of Zimbabwe's (RBZ) latest data reveals a massive shift in where our money is going and how much it costs us to keep it in the bank. If youā€™ve ever wondered who the banks are actually lending toā€”or if theyā€™ll ever stop charging you just to check your balanceā€”the latest figures have the answers.

Where is the Money Going? (The 75% Rule) According to recent sectoral data, Zimbabwean banks are moving away from simple "consumption" loans (like personal credit) and focusing heavily on the engines of our economy.

The Big Picture: Nearly 74.82% of all bank loans are now classified as "Productive".

Agriculture Leads the Way: Of those productive loans, the Agricultural sector is the biggest winner, securing 15.26% of total lending.

Manufacturing & Distribution: Manufacturing (11.49%), Commercial (11.17%), and Distribution (10.67%) follow closely behind, showing a strong focus on getting goods made and moved across the country.

Consumption: Only about 25% (specifically 24.97%) of loans are currently going toward "Consumptive" purposesā€”things like personal spending or retail credit.

New Rules: How the RBZ is Cutting Your Bank Fees

While the banks focus on lending to big business, the RBZ is stepping in to make daily banking cheaper for you. All banking institutions and microfinance houses have been directed to implement these changes by 31 March 2026:

  1. No More Balance Inquiry Fees You can finally stop worrying about being charged just to see how much money you have. Charges for account balance inquiries are being removed entirely for both ZiG and US$ on all banking and mobile platforms.

  2. Free Cash Deposits To encourage us to put our money back into the formal system, the RBZ is removing all fees on cash deposits for both ZiG and US$.

  3. Capped Withdrawal & Swipe Charges Withdrawals: Cash withdrawal fees at ATMs and banking halls are now capped at a maximum of 2% of the amount withdrawn.

Swiping (POS): Charges for swiping are capped at 1.5% of the transaction, with a maximum limit of US$20 (or ZiG equivalent). Crucially, banks are now strictly prohibited from charging a "minimum fee" on POS transactions.

  1. Cheaper Bank Cards The cost of getting a new or replacement bank card is being reined in. Banks can now only charge you enough to recover their costs (cost recovery levels), rather than making a massive profit on the plastic itself.

The Bottom Line The RBZ is pushing for "deeper financial intermediation"ā€”essentially trying to make it more attractive for you to keep your money in a bank account rather than under a mattress. By making deposits free and balance checks cost-less, they are clearing the path for the average Zimbabwean to re-engage with the formal banking sector.

Nearly 75% of bank loans are for production. Of these, agriculture is getting the most loans, followed by manufacturing.

ā€¢ 25% of loans are going into consumption.