Getting a loan with low interest in Zambia when you are not employed in formal is hard and not affordable… but as at now you do not have to worry about that because we are providing loans to everyone regardless of if you are employed or not.
All you need to have is collateral to be eligible for a loan of between K500 and K100,000 that is supposed to be paid back after 30 days with interest.
What qualifies to be collateral?
Anything of value that can be sold easily qualifies to be collateral. This includes phones, laptops, Gaming consoles, Computers, Cars, Land etc.
How do we evaluate collateral?
As a business, we do not want to make losses, as a result, if you fail to pay back the loan, we may sale the collateral. We have a simple method we use to evaluate or find the value or how much someone would buy the item.
For example, if you have a phone you bought at K2000, you wouldn’t sale it for k2000 because of depreciation. You might sell it probably at K1500 or even at k1000. On our business side, we do not want to make a loss even when we sale the collateral and it shouldn’t take us time to find a customer.
Therefore, for example if you want a loan for k3000, and you have a phone as collateral you bought at K3000. Your phone would not qualify to be collateral because it cannot be sold at the price you bought it. So the best way to know if an item can qualify to be collateral is to divide or multiply the cost by 2.
For example, if you want a loan for 2000, provide something worth double that amount.
Keith Rainz Loan Calculator
Change Loan Amount: ZMW
Interest Rate: Keep 28.5%
Months to Pay: Keep 1
How to apply for a loan
Please fill this form to apply for a loan and wait for 2 hours for a response. If you qualify, proceed below and download the loan agreement.
Loan terms and conditions
For loan terms and conditions, download the loan agreement form below and print it out and fill it with your own handwriting and come with it (and collateral) as you come to collect your loan in person.
Click here to download the loan agreement form.