Why KwachaCredit？
Company Philosophy—Safe and Trustworthy
Unsecured Loan
Security and transparency
High pass rate
Flexible Term
Unsecured Loan
Simple Secure Process
Miniaml Documentation
24/7 Customer Support
Who we are ?
Company Philosophy—Safe and Trustworthy
KwachaCredit is a microfinance firm poised to provide a range of loan options to the people of Zambia, catering to both employed individuals and business owners. At KwachaCredit , we have identified key factors contributing to our success in the microfinance industry. Our microcredit offerings aim to empower individuals, enabling them to support their families. Notably, our repayment rates surpass those of traditional banking products, ensuring a more favorable financial outcome. KwachaCredit is to focus on servicing the un-banked or entry level retail credit market which is often overlooked by the formal banking sector as the clients are deemed too small or too risky. Our main office is situated at Northmead, Lusak. As our company goal is to enable financial inclusion through technology and provide state of art service to people of Zambia.
Frequently asked questions
Everything you need to know about KwachaCredit loans. Can't find the answer? Contact our 24/7 customer support team.
What is KwachaCredit?
KwachaCredit is a microfinance firm that provides fast, unsecured cash loans of up to K5000 to the people of Zambia. We serve both employed individuals and business owners, helping you solve urgent financial needs through a simple, secure, fully digital process.
Who is eligible to apply for a loan?
To apply, you must be a Zambian resident at least 18 years old, hold a valid National ID card, Driver's license, or Voter's card, have a stable source of income, and use an active mobile money account. Both employed individuals and business owners are welcome to apply.
How much can I borrow and for how long?
Loan amounts range from ZMW 100 to ZMW 5000, with repayment terms of 91 to 120 days. The exact amount and term available to you are determined by your personal credit assessment and improve as you build a good repayment history with us.
What are the interest rates and fees?
The annual percentage rate (APR) ranges from 10.95% to 27.98%, equivalent to a daily interest rate of 0.03% to 0.076%. A service fee of 1% of the loan amount is charged per disbursement. There are no other hidden fees throughout the entire process.
How do I apply and how fast is approval?
Download the KwachaCredit app from Google Play, register with your mobile number, complete your profile, and upload your KYC documents to submit your application. Approved loans are disbursed directly to your mobile money account, often within minutes, and our service is available 24/7.
How do I repay the loan?
You can repay through the KwachaCredit app or your mobile money account, either in full or in installments before the end of your term. Timely repayment improves your credit profile and unlocks higher loan amounts and better rates for future borrowing.
How do I delete my account?
Once you have settled all your loans and no longer wish to use KwachaCredit, you can submit an account deletion request on the Account Delete page. Please note that your historical credit record will be cleared and you will no longer enjoy preferential loan policies for returning high-quality customers.
All information is subject to specific conditions | © 2023 KwachaCredit Technologies Ltd. All rights are reserved.