PERSONAL LOANS

At any stage of our lives a financial need may come up and we might not have the muscle to immediately buy or pay for that which matters to us. 

Our Zanaco Personal Loans are designed to assist you make that dream come alive! If you are looking for financing to meet your personal needs, this is the best solution for you.

Scheme Loans 

As a product of our Workforce Banking unit, the Employee Scheme Loans cater to organizations that sign Memoranda of Understanding with the bank, where employees can apply for loans through the employers. 

Repayments are remitted by the employers directly to the Bank after deduction from payroll.

Features

  • Minimum tenure of 6 months
  • Maximum tenure ranging from 60 months to 72 months
  • Annual interest of Bank of Zambia Policy Rate + Margin as per contract signed between the Bank and the employer
  • Minimum loan amount ZMW5, 000 unsecured
  • Maximum loan amount ranging from ZMW150, 000 to ZMW250, 000 unsecured
  • Applicable Fees
    • Arrangement fee to be collected upfront
    • Insurance to be collected upfront

Requirements

  1. Filled in application form
  2. 2 passport size photos
  3. Copies of 3 latest payslips
  4. Certified copy of NRC, valid passport or valid driving licence
  5. Proof of employment
  6. Contract of employment, where applicable
  7. Valid work/residency permit for expatriates, where applicable
  8. Applicant must have a salary account with Zanaco

Premier Loans

This is a Salary Based loan. The Zanaco Premier Loan is designed for individuals in full time or contractual employment who have an operating account with the bank to facilitate the monthly loan installment payments.

Your Employer must undertake to continue remitting the salary to Zanaco during the tenure of the loan.

 

Features

  • Minimum tenure 6 months
  • Maximum tenure of 36 months
  • Annual interest of Bank of Zambia Policy Rate + Margin
  • Minimum loan amount ZMW5, 000 unsecured
  • Maximum loan amount of ZMW60, 000 unsecured
  • Applicable Fees
    • Arrangement fee to be collected upfront
    • Insurance to be collected upfront

 

 Requirements

  1. Filled in application form
  2. Copies of 3 recent payslips
  3. Certified copy of NRC, valid passport or valid driving licence
  4. 2 passport size photos
  5. Contract of employment where applicable
  6. Valid work/residency permit for expatriates, where applicable

Personal Loan Product

This is a Secured Personal loan for all Zanaco account holders that requires collateral.

 Features 

  • Annual interest of Bank of Zambia Policy Rate+Margin

 Requirements 

  1. Letter of application covered by supporting documents at application stage
  2. Applicant must pledge security

 

 

 

 

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