Terms and Conditions

1. Both prepaid and postpaid Zamtel customers are eligible for the loans

2. The eligible customer must be a fully registered and KYCed customer

3. The eligible customer must be above the age of 18.

4. Customer must have had an active SIM card on the network for not less than 180 days

5. Customer must have conducted at least one talktime recharge on their number in a period of 90 days

6. Customer must have borrowed and paid back talktime over a period of 6 months

7. Customer must be fully registered on the Zamtel Mobile Money service

8. Customer must have an active mobile money account.

9. Customer must have conducted at least one a mobile money transaction over a period of 60 days. Transactions to be considered are deposit, withdrawal, purchase of talktime or bill payment.

10. Customer can borrow for their own number or for another Zamtel number, on condition that the other number for which the loan is being borrowed is not in a debt state for both the mobile money loan or the talktime.

11. Customers who are fully registered on the Zamtel network and fully KYCEd, but not transacting customers on mobile money will be eligible to borrow a loan amount based on their historical record of talktime amounts borrowed and paid back.

12. A customer who pays back their loan amount in full within the loan period will be eligible to borrow again immediately.

13. A customer who has paid back 3 consecutive loans in full within the loan period gets upgraded to borrow higher amounts.

14. Applicable loan interest rates will be based on loan periods as below:

• a. 7 days – 10%
• b. 14 days – 14%
• c. 21 days – 17%
• d. 30 days – 18%

15. Customer loan will have validity periods of:

• a. 7 days
• b. 14 days
• c. 21 days
• d. 30 days

16. A Customers Loan recovery will be done from both mobile money wallet and main talktime account, with priority to the mobile money wallet.

17. In the case that balance in the mobile money wallet is insufficient, then the talktime account will be checked and debited.

18. In the case that both the mobile money wallet and the main talktime account have no value, then the loan recovery will be done automatically upon an e-value deposit or talktime recharge is made on the customer’s number.

19. A customer that has not paid back their loan within 31 days will be downgraded to a lower category amount that they can borrow once they repay any outstanding loans.

20. A customer who does not pay back their loan within 6 months will be blacklisted and will not be eligible to borrow any amount and this customer information will be submitted to the Credit Reference Bureau (CRB).