What you need to apply

For Public sector loans, be a government worker: You should be employed and already working in one of the government public sectors in Zambia.

Have an active Bank Account: You need to provide your commercial bank account details. We need this to send your money to you should your loan request is approved, OR,

Have an active VITPAY WALLET: We need this to send your money to you should your loan request is approved.

Be of Age :18 years and above is the loan eligibility age.

Have valid IDs: We only need you to upload

(a.) National ID or Passport,
(b.) 3 months’ Payslip, and
(c.) Utility bill.

Public sector loans

This facility is to help public sector employees to fund emergency requirements. This will help them to bridge the gap between their salaries and their needs. Government departments covered include:

Teachers/lecturers
Nurses/Doctors
Defence forces personnel
Armed forces personnel
Local government personnel
Various ministerial government departments

Features

Facility range: K2,000 (minimum) to K15,000 (maximum)
Duration: 1-3 months
Repayment frequency: Monthly salary sacrifice
Prospective borrowers must be public sectors employees ONLY.

Benefits

No collateral
Flexible repayment structure
Low interest rate

Documentation

Duly completed application form
Current utility bill

A valid means of ID (national ID, driver's license, passport)

Agricultural inputs loans

Features

Facility range: K10,000 (minimum) to K30,000 (maximum)
Duration: 8 months
Repayment frequency: Monthly
Clients must belong to an agricultural input union
Prospective clients must be practicing farmers with verifiable evidence of existing farm investments

Benefits

No collateral
Provides capital for farming activities
Flexible repayment structure
Low interest rate
Expert financial advice available

Documentation

Duly completed application form
2 guarantors
2 recent passport-size photographs
Current utility bill
A valid means of ID (national ID, driver's license, passport)

SME loans

VITPAY SME Loan is a credit product designed specifically to support Small and Medium Scale Enterprises (SMEs) operators in Zambia.

Irrespective of the sector your enterprise is operating, VITPAY is willing to support you with a credit facility up to K20 000 to expand the enterprise

Features

Facility amounts up to K20,000
Methodology: Individual
Duration: 12 months

Benefits

No collateral
Access to funds for business expansion
Flexible repayment structure
Training on basic financial management, business planning and customer relations
Expert financial advice available

Documentation

Loan application letter
Duly completed application form
2 guarantors
A valid means of ID (national ID, driver's license, or passport)
Current utility bill

2 recent passport-size photographs

Educational loans

Loans provided to enhance the quality of education. It supports parents to meet education expenses for the children.

This product is tailored to close the gap between the need of the child and what the parent can offer in regard to school fees/levies, uniforms and books.

Loan range ‒ K2,000 to K10,000
Interest rate ‒ 4% Reducing Balance (48% per Annum Reducing Balance)
Repayment Mode ‒ Monthly
Loan period ‒ Loan can be disbursed all year round

Loan purpose

— To cover Tuition fees, uniforms, Books

Please note: Tuition fees will be paid directly to the school, college or university.