Your Dream Loan


  1. By participating in this promotion, participants agree to be bound by these terms and conditions and any other requirements set out in the promotional material.
  2. The Promotion will run for about 3 months, starting on April 18th 2017 and Ending 31st July, 2017 (the “Promotion Period”).
  3. All loan applications must be submitted to any nearest Zanaco branch no later than 16:00hrs on the Closing Date. All loan applications received after the Closing Date are automatically disqualified.
  4. The promotion is open only to employees under the Bank’s Employee Scheme Loan Product (Workforce Banking) whose employers have a valid Memorandum of Understanding or Contract with Zanaco.
  5. To be eligible for the promotion, employees must belong to organizations that have signed Memorandum of Understanding or Contract with the Bank under the Employee Scheme Loan, or be willing to sign during the promotional period.
  6. The eligible participants must either be:
    • Existing customers willing to refinance their loans with the bank that have been running for at least six (6) months.
    • New customers willing to refinance their loans with other commercial banks.
    • New customers who do not have any existing loans with the bank.
    • New eligible employers willing to sign onto the scheme during the period of the promotion.
  7. New customers refinancing their loans with other banks must switch their pay point to Zanaco. Thereafter, at least one salary credit must be deposited on the salary account.
  8. The loan will be for a minimum tenure of 6 months and a maximum tenure of 60 months (5 years).
  9. The maximum applicable loan amount is K350,000.00.
  10. The applicable effective interest rate will be 29% per annum (i.e. at variable Bank of Zambia Policy rate plus a margin of 15%), subject to change at any time at the Bank’s discretion.
  11. An arrangement fee of 5% shall be applied on all loan applications during the promotional period.
  12. Other applicable requirements will be as provided in the individual MOUs or Contracts signed between the employers and Zanaco and the Credit Facility Agreement between the Bank and the eligible employee.
  13. The promotion closes on 31st July, 2017. The 3 months promotion period starts from the 18th April, 2017 to 31st July, 2017. Applications received by the branches after 31st July, 2017 will not qualify.


  1. Zanaco reserves the right at its absolute discretion, to use the names and photographs, voice or video recordings and entries of successful loan applicants for advertising and publicity, trade or promotion purposes without first obtaining any consent nor making any payment or compensation whatsoever to the participants.
  2. Zanaco shall inform the customers and general public via the Print and Electronic media of any amendments to the Terms and Conditions; of any amendments to extend, shorten, cancel, terminate or suspend the promotion; of any amendments to effect any adjustments, forfeitures or disqualifications of the promotion entries acquired by the accountholder without being liable to the account holder for any loss or damages howsoever suffered or incurred by the accountholder as a direct or indirect result of the exercise by the Bank.
  3. Except for the specific promotion terms and conditions stated herein throughout the campaign period, all other terms and conditions set out in the Terms and Conditions governing all the eligible accounts set forth herein shall continue to apply. For further clarification please do not hesitate to contact your nearest Zanaco branch, our Zanaco Contact Centre by calling 5000 for more details on the promotion.
  4. Annual interest of Bank of Zambia Policy Rate + Margin


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