News / Local
Stanbic sues client for over unpaid loan
10 Nov 2016 at 07:13hrs | Views
The Stanbic Bank has sued a client Jonas Kumwenda after he failed to repay a loan amounting to over $14 200.
The bank filed summons against Kamwenda on October 27 at the Bulawayo High Court.
"The plaintiff claim is for payment of $14 273, 29 being the amount due and payable to plaintiff by defendant in terms of a loan agreement between the parties which remains unpaid despite demand. Interests on the amount at the rate of 23, 85 % per annum as reckoned from July 15 2016 to date of payment in full," reads the summons.
The bank stated that in August 28 2013 Kamwenda took a loan of $21 500 from the bank and undertook to pay installments on monthly bases within a period of 36 months. The bank stated that Kamwenda has not paid the loan in full hence the breach of the agreement.
The bank said he only paid part of the money and was left with a large chunk of debt of $14 273, 29 which the bank is now claiming through the court.
Kamwenda is yet to respond to the summons.
The bank filed summons against Kamwenda on October 27 at the Bulawayo High Court.
"The plaintiff claim is for payment of $14 273, 29 being the amount due and payable to plaintiff by defendant in terms of a loan agreement between the parties which remains unpaid despite demand. Interests on the amount at the rate of 23, 85 % per annum as reckoned from July 15 2016 to date of payment in full," reads the summons.
The bank said he only paid part of the money and was left with a large chunk of debt of $14 273, 29 which the bank is now claiming through the court.
Kamwenda is yet to respond to the summons.
Source - Byo24News
