Vitpay Lending FAQ's

Requirements and eligibility are as follows:

• 18 years old and above
• Have a valid original NRC/Driver’s license or Passport
• Be in full employment with an active bank account if looking for a personal loan
• Actively trading in a business for more than 6 months if looking for a business loan
• Holder of a registered mobile phone number

• Valid ID (NRC, passport or driving licence).
• Last 2 months payslips (stamped).
• Bank statement for the last 3 months.
• Utility bill (water or electricity).
• Signed pre-approved letter from your Ministry
• Signed pre-approved letter from private companies that have a MOU with VITPAY.

• Insurance fee: 2%
• Administration/Application fee: 5%

Interest rate varies depending on the loan product, for more information, please check type of loan section on the home page for precise rate.

For public sector loans, deductions are made directly from your salary using our PMEC Code (Salary sacrifice).

• You can also pay directly via our Mobile and Web Applications.
• You can also pay via mobile money.
• You can also pay via your bank account (Please ask for details).

Employees of private companies who have MOU with Vitpay, repayments will be deducted directly from their salary.

The following default charges will be applied monthly to any late payments according to the following table:

• K500- K1000 = K100
• K1001- K3000 = K250
• K3001- K5000 = K450
• K5001- K10000 = K1000
• K10001 and above = K3000

After 2 missed repayment, we will initiate our debt collection process. We will also share your details with all credit reference agencies within Zambia.