GRZ Backed Loans
Frequently Asked Questions

What is a GRZ Bond backed loan?

This is a collateral based loan that uses GRZ Bond investments as security.

What are the features of this Loan?

1. Flexible repayment period.
2. Blended repayment option that includes both salary and coupons payment.
3. Tiered repayment frequency including monthly quarterly, Bi – annual and Bullet repayment.

Who is eligible to apply?

Both salaried and non – salaried customers with GRZ bond investments either on the Primary or Secondary market and coupon payments received in a Zanaco held account.

What is the minimum and the maximum amount I can apply for?

Minimum of ZMW5,000 and Maximum is 80% of the principle investment amount in the GRZ securities.

What are the requirements?

1. The applicant should be a Zanaco account holder
2. Must be receiving the salary in a Zanaco account if the repayment is a blended option (repayment is a combination of different income streams)
3.  Pay slips for salaried employees
4. Coupon payment must be received in a Zanaco account
5. Client should produce coupon schedule/s and award notice for the bond investment

How does one apply for the Loan?

Engage your Private Banker or the nearest Branch.

What is the maximum repayment period

Maximum repayment period is 60 months.

What is the interest rate on the Loan?

A floating interest rate bench marked off Monetary Policy Rate is applied. For preferential rates please contact your Private Banker or Branch Manager.

What other costs are applicable to the GRZ Bond backed loan?

Arrangement fee which is currently priced at 3.5% of the facility amount payable upfront.

How will the loan be paid off?

The loan will be structured with either a once off bullet payment of both interest and principal, or monthly, quarterly/bi annual/ annual repayment options as per coupon schedule.