Payroll Backed Loans
Micro Finance Zambia provides one of the best payroll backed loans in Zambia. A payroll loan is a cash advance that is given to a borrower based on their employment status and income. Our team is very efficient in our approval process ensuring you get instant cash for your loan.
The payroll backed loans are meant to meet your needs. Whether you require the money for education, car insurance, medical bills, funeral expenses, building materials, capital for small businesses and other financial needs, Micro Finance Zambia is here to assist. Plus, we have flexible payments terms you can choose from our available options when you apply.
Please read questions bellow and if you can not find your answer, please send us your question, we will answer you as soon as possible.
These are salary backed loans which are deducted through Payroll.A payroll loan is also known as a payday loan because the amount of the loan is typically scheduled for repayment upon getting paid by an employer.
The maximum loan amount depends on one’s net income; the higher the earnings, the higher the amount.
Yes one is able to obtain another loan form Micro Finance Zambia (MFZ) which will run as a parallel loan, provided they meet the affordability criteria. MFZ’s systems are also designed to accommodate loan refinancing without violating pre-agreed credit vetting rules.
One is eligible for a top up loan as soon as deductions are made and this also depends upon an individual’s income and existing obligations. Visit your nearest MFZ branch to know the exact affordability rate.
Yes – this is made possible by our online and robust information technology platform.
Our products are designed in such a way that they meet your needs. This could be education fees, car insurance, medical bills, funeral expenses, building materials, capital for small businesses and other financial needs.
The primary requirement for the formally employed is a signed payroll agreement between Micro Finance Zambia and the prospective client’s employer.
- A minimum of two(2) latest pay slips
- National Registration Card
- Work ID, where applicable
- A signed loan pre-approval form, where applicable.