This is a salary based unsecured product offered to employed customers. Unlike the scheme loan, the loan instalments for the non-scheme loan are not deducted through payroll but are paid from the customers salary account held with Zanaco.
Your employer will not be required to sign a contract or Memorandum of Understanding with the Bank. They will however be required to be onboarded through our Workforce Banking after the necessary vetting is conducted.
Competitive floating interested rates linked to the Bank of Zambia Monetary Policy rate.
Credit life insurance with the cost being borne by you.
Loan repayments to be from your salary account.
How to get it and what to expect
You can apply for a scheme loan online using the online loan portal or through any of the Zanaco Branches
You will be required to have a Zanaco Current or Savings Account through into which the loan will be disbursed
Your employer must have signed an MOU/contract with Zanaco for you to apply for a loan
3 latest payslips
Evidence of one salary credit is required
You will be required to have a net pay of K2,000.00 minimum
Credit Reference Bureau report
Introductory letter from your employer
You must be a confirmed employee without any pending disciplinary case
You must be aged between 18 years and 60 years if employed on Permanent and Pensionable basis. If employed on contract, the maximum age for one to apply for a scheme loan is 72 years where the loan must be paid off 3 months before expiry of your contract
