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What is a An Auto Loan?

An Auto Loan allows you to purchase a showroom vehicle from an approved dealer or a second-hand vehicle with a maximum age of 5 years from the year of manufacture. The Loan is available to salaried Preferred and Private Banking customers whose salary is credited monthly to an account held with Zanaco.


  • Maximum loan period of 5 years
  • Maximum allowable loan amount of K2,000,000 or USD equivalent

How to get it and what to expect

The following are the necessary requirements to apply.

  • Copy of NRC
  • 3 latest pay slips
  • 1 passport photo
  • 40% debt service ratio
  • Duly completed application
  • An existing Zanaco Account
  • Applicant must be aged over 18 years
  • Contribution of 20% towards the cost price for brand new vehicles and 30% for pre-owned/second hand vehicles
  • The Bank will be the custodian of the spare key of the vehicle and the original certificate of registration. A copy of the certificate of registration will be retained by the customer.
  • Applicant must be in employment (permanent and pensionable or contract)
  • Assignment of terminal benefits or gratuity by the applicant to the Bank as added security for the loan.
  • Letter of undertaking from your employer, stating the benefits due to you to date or at retirement .

Features of the Auto Loan

  • Minimum Tenor – 12 months
  • Maximum Tenor – 60 months
  • Maximum Amount – ZMW 2,000,000 or USD equivalent
  • Insurance as per arrangement with our credit life insurer
  • Variable interest rates subject to the Bank’s prevailing marginal rate and BOZ policy rate

Ts and Cs Apply

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