Microfin a Division of BancABC provides an innovative Group
Scheme loan product to Government and Private Sector employees
throughout Zambia. All our loans are easy to process, quick,
flexible and are recovered by means of payroll deductions. The
features of the payroll based term loan are as follows:
- Tenors of up to 48 Months.
- Financing currency: ZMK.
- Competitive Interest rate at base + a margin per annum on a
reducing balance basis.
- An arrangement fee.
- Administration fee of per month on the original principal
- The product will be covered by credit life insurance and
funeral cover which cost will be for the account of the
- All loans are insured against death, retrenchment and
disability (terms and conditions apply).
Services currently offered to:
- Defence forces
- Hospital Workers
- Government Ministries
- Educational Sector ie teachers, lecturers, counsellors etc
- Mining Sector
Microfin a Division of BancABC has 19 branches throughout Zambia
and is located in all the 9 provinces of the country. We endeavor
to reach every location through a well organised Mobile Banking
teams to reach the furthest parts of the country.
How do I apply for microfinancing?
- You qualify for a microfinancing loans if you are
- In full time formal employment
- Earn a net salary of K300,000 or more
- You have a Zambian national registration card, passport
- 3 latest payslips, company ID, bank statement or ATM card
What do I need to apply?
Simply walk into anyone of our Microfinancing outlets with the
necessary documentation and get your loan immediately
The Payroll Deduction Agreement between the bank and your
employers must be signed before you can access a loan