Dalex SWIFT Zero Interest Loan Offer

Please read the following terms and conditions carefully.

By agreeing to these terms and conditions, you acknowledge that you have read and you agree that the terms and conditions governing the SWIFT zero interest loan offer shall apply. If you do not agree to these terms and conditions, please do not participate in this concessionary loan offer.


  1. SWIFT is a contributory investment scheme which allows customers to make regular deposits into their investment accounts from the convenience of their phones and related gadgets.
  2. SWIFT also provides loan facilities to its customers.
  3. SWIFT recognizes the challenges caused by the outbreak of the 2019 novel corona virus known as COVID-19, particularly the financial strain on its clients which has caused the imposition of a partial-lockdown pursuant to the Section 2 (1) Imposition of Restrictions Act, 2020 (Act 1012).
  4. SWIFT as part of its corporate social responsibility recognizes the needs of its clients who are faced with temporary cash deficit and is offering this zero interest concessionary loan scheme to its clients as a relief package subject to the terms and conditions contained herein.


  • “Agreement” refers to this Dalex SWIFT Zero Interest Loan Offer.
  • “SWIFT” refers to Dalex SWIFT Contributory Investment Scheme.
  • “Concessionary loan” refers the loan facility being offered under the terms stated herein.
  • “Court” refers to the High Court (Commercial Division), Accra.
  • ”Eligible clients” refers to clients who:
  1. Have activated their investment accounts for at least three (3) months prior to the offer period.
  2. Have a minimum balance of GH₵ 300.00.
  • “Activated” refers to a client making their first total minimum deposit of GH₵5.00

which is invested on the 28th day of the month of deposit.

  • “Zero interest charge” refers to the interest rate applied to first three (3) months after the disbursement of the concessionary loan.
  • “Interest rate” refers to the monthly interest charge of two percent (2%) which is applicable to the concessionary loan after the expiration of the initial three (3) month period.
  • “Month” means a calendar month.
  • “USSD” refers to the short code procedure applicable to access the concessionary loan.
  • “Offer Period” refers to the period which commences from Tuesday, 7th April, 2020 and ends on Tuesday, 30th June, 2020.
  • “Parties” refers to SWIFT and its clients who apply for the concessionary loan offered herein.
  • “PWA” refers to the web application designed to run on smart phones, tablet computers and other mobile devices which enable customers to gain access to SWIFT’s platform.

Terms and Conditions

  • General Eligibility
  1. The offer is exclusive to the clients of SWIFT.
  2. Only clients who have activated their investment accounts for at least three (3) months prior to the offer period shall be eligible for this concessionary loan.
  • Minimum Balance
  1. The minimum balance eligible for the concessionary loan shall be the sum of three hundred Ghana Cedis (GH₵ 300.00)
  • Offer Period

1. The offer shall commence from Tuesday, 7th April, 2020 and end on Tuesday, 30th June, 2020.

  1. Only offers accepted by the client within the offer period shall be valid.
  2. All requests made for the concessionary loan after the offer period shall not be valid and the terms and conditions stated herein shall not apply.
  • Interests
  1. There shall be a zero interest charge for the first three (3) months on the concessionary loans disbursed within the offer period.
  2. For the avoidance of doubt, the zero interest charge shall only be applicable for the first three (3) months after the disbursement date of the concessionary loan.
  3. All debts from the concessionary loan which remain unpaid after expiration of the first three (3) month period where the zero interest charge is applied shall attract a two percent (2%) monthly interest charge.
  4. Clients’ SWIFT investments shall continue to earn interest during the period of the concessionary loan.
  • Application/Loan Requests
  1. Loan requests may be made via USSD or PWA.
  2. Clients may request loans in sums which do not exceed eighty percent (80%) of the sum of their total SWIFT investments as at the commencement date of this offer.
  • Loan Processing and Disbursement
  1. Loan processing and disbursement shall take a maximum of forty-eight (48) hours subject to a client meeting all the requirements.
  • Repayments
  1. Clients’ repayment of the concessionary loans shall commence one (1) month following the loan disbursement date.
  2. A client may repay a loan by making a deposit via mobile money or debit card into their investment account.
  • Notices

1. Any notice or other communication in connection with these terms and conditions (a “Notice”) shall be delivered:-

  1. by hand or registered post by courier using a recognised courier company;
  2. in writing in English; and
  3. to the Party due to receive such Notice at its address, via email or text message.

2. A Notice shall be effective upon receipt, and in the absence of evidence of earlier receipt, shall be deemed to have been received:-

  1. if delivered by hand, when left at the address of the receiving Party’ if such delivery is during normal business hours;
  2. if sent by courier, forty eight (48) hours after same is sent;
  3. if sent by text message, Whatsapp or email, on the sending device indicating that the notice has been duly transmitted.
  • Non Waiver

Failure of either SWIFT to insist upon the performance of any term or condition in this Agreement, or to exercise any rights under this Agreement, will not be construed as a waiver or relinquishment of the future performance of any such term or condition, or the future exercise of any such right, and the obligations of the client with respect to such future performance will continue in full force and effect.

  • Entire Agreement

These terms and conditions constitute the entire Agreement between the Parties hereto in relation to the concessionary loans being offered by SWIFT and is separate from all prior representations, arrangements, understandings and agreements made by or agreed between the parties for any other SWIFT credit facilities.

  • Amendment
  1. This agreement may be amended at the sole discretion of SWIFT and notice of such an amendment shall be made in writing to the client.
  • Severability

1. If any of the terms and conditions contained in this offer are considered by a court of competent jurisdiction to be invalid, the court shall have the authority to limit such matters as the court deems proper in the circumstance and if any provision of this Agreement is void or unenforceable in part, it shall not affect the enforceability of the remaining portion of these terms and conditions.

  • Governing Law

1. The construction, validity and performance of this Agreement shall be governed at all times by Ghanaian Law.

  • Dispute Resolution

1. The Parties shall act in good faith to amicably settle any dispute arising out of or in connection with this concessionary loan, including without limitation, any dispute as to the existence, scope, interpretation, validity, default or enforceability of these terms and condition. Any Dispute between the Parties shall be be determined by the High Court, Commercial Division, Accra.

For queries, questions and further information regarding the SWIFT Zero Interest Loan Offer, you may visit www.dalexSWIFT.com or contact SWIFT via Whatsapp on 0559718811, by phone on 0242435650 or in person at the Dalex SWIFT Office, Momotse Avenue, Adabraka- Accra.