Get up to K3500 instant loan for 30 days without collateral by following the information I have provided. Zamcash loans have convinced me beyond doubt that it stands out as the number one leading platform for online instant loans without collateral in our beloved nation – Zambia.. Based on my experience (I am an active client of theirs) with their service, I would rate Zamcash loans as strong as 9/10.
With just a single click and a few simple steps thousands of Zambians have secured a collateral-free loan that is credited within 5 minutes into their mobile money wallets/accounts. Repayment is due in14 days and 30 days (depending on available or chosen plan) with highly competitive interest rates, and partial payments (the one I am used to) are also warmly welcomed.
Once you complete your full payment, your loan limit will be instantly upgraded (especially if you use the links I have provided), providing even more convenience for future borrowing. Zam cash and Zamloan loan feature are similar except in few thing we will discuss soon
My personal experience with Zamcash
About 4 and a half years ago, I needed emergency money to solve an unexpected problem. I contacted a few friends, asking them for some cash. None responded positively; each gave their own reason for not having the money. Whether their excuses were true, only themselves know.
I turned on my data and searched on Google with the query ‘instant loan.’ The first results appeared, and I clicked on Zam cash. After just a few simple steps, the loan was disbursed.
I was so excited because I never expected this to happen. From that moment on, I have become the loyal borrower of Zamcash instant loans due to the conducive and excellent loan services they offer.
Therefore, I have outlined all the pros and cons of Zamcash in this content to help instant loan seekers learn more and apply for Zamcash loans.
When it comes to online loans in Zambia, Zamcash stands out as a premier loan provider, i have seen that it is also the most popular online instant loan.
In this same information you are reading I will list and explain all the reasons why Zamcash is the best loan option for almost everyone. Let us walk together and see all the factors which have made Zamcash loans to be an excellent service for cheap online loans:
Who is it worth for? (Who qualifies for Zamcash loans?)
All loan services have the type of clients to target but not with Zamcash. Let us see the groups of people who worthy of being accepted as qualifiers of Zamcash:
Students
Zamcash loans are ideal for students who need immediate financial assistance to cover tuition fees, educational materials, or living expenses. Those are in self catering could borrow money from Zamcash if their parents delay to give them money for food and skin lotion. CBU and UNZA students are aware of Zamcash.
Business Owners
If you are a business owner Zamcash loan is for you. No business documents will be required for submission during Zamcash loan application. Sometimes, I apply for a Zamcash loan whenever my business is in need of emergency money. Low interest rate and quick disbursement is my main motivation for Zamcash loans.
Civil Servants
- For civil servants, their pay slips are not affected due to Zamcash loan (No Salary deductions)
- They stand a high chance of Zamcash loan upgrades due to their employment advantage
Getting an Online Instant loan from Zamcash for a 30 day period repayment.
With Zamcash you can easily get a cheap loan online for 30 days. Mainly, Zamcash has got two (2) loan tenure options: the first one is for 14 days and the last one is for 30 days. According to my experience a 30 day period loan is mainly offered to old and consistent clients. So during your process of application if the option for 30 days is not available use the current available period to pave a way for a 30 day period later.
How do I apply for ZamCash online Instant Loan?
Before applying make sure that the following things are available (not applicable to old Zamcash borrowers)
- Original National Registration Card (N.R.C)
- Selfie
- 2 active phone numbers (your number and any of your close relative)
Application Process for New Zamcash Borrowers
- Visit Zamcash website here
- Provide the required information attaching your N.R.C, selfie and phone numbers as outlined above.
- Wait for the call from Zamcash customer care (make sure that the number you have provided is active and you are with it)
- Wait for money disbursement
Application Process for Old and returning Zamcash Loan Borrowers:
Those who may want to upgrade their loan or increase the loan repayment tenure (time) could use this link below
Are you ready to apply for Zamcash loans with instant approval? Do it
What to do when Zam cash loan is declined or rejected:
Sometimes, though it is very rare your Zamcash loan could be rejected for various reasons. Here are the workable solutions:
- Capture a neat – clear Front and Bank of your National Registration Card. Avoid using very old, dirt and unclear National registration cards. All your details on the NRC must be clear.
- Selfies should also be clear, use a very Camera and capture yourself during the daytime. Never submit the requirements as if you are hiding!
- All the contact details (phone numbers) should be active. Zamcash will not give a loan to a person who seems not to be known, avoid using very new phone numbers, (your numbers should be at least 6 months old from the time it was created/registered)
- Your phone number should be activated for mobile money wallets, this increases the chances of loan acceptance.
- Never use a phone number which is not registered in your details, your NRC details must match with those on the SIM card.
- If it is easy for you Inform the relative or workmate you have indicated on the Zamcash loan application of what you are doing, just in case he or she is called for confirmation purposes you stand a better chance if his or her answers are positive.
- Make sure that you are not listed by CRB.
Factors I considered in rating Zamcash as the Best Instant loan without collateral in Zambia:
- Zam cash offers very affordable interest rates. The higher the interest, the higher the loan burden. I have never complained about Zamcash interest rates in any way. The interest rate of Zam cash is ever below 30% regardless of amount and tenure (payment period).
- I have witnessed some loan services charging close to K500 loan service fees! With Zamcash it is only K25. No other hidden fees and charges
- Whether you need a short repayment period (14 days) for a cash advance or a longer term (30 days) to manage larger personal loans, they provide options that cater to different financial needs. You also have the flexibility to adjust your payment schedule, ensuring that your loan repayment aligns with your income.
- Zam cash loans offers instant online money from as low as ZMW500 up to ZMW3500, soon to be increased. Only K25 is deducted from the requested amount.
- In all my communications with Zam cash I have rated their understanding and effective response at 9/10.
- For new borrowers it only takes 5 – 21 minutes while for old clients it only takes less than 5 minutes upon request completion.
- Almost everyone above 21 years is eligible as long as he or she has N.R.C. Credit history is not much considered.
- No collateral is required, Zamcash loans are ever unsecured loans.
- In fact no Zam cash officer will ever ask you about your loan purpose
- Zam cash has no dishonest dealings, no hidden fees, only K25 deduction. Zamcash is registered and trusted in the Zambian Government eye.
- Every honest person who has ever ‘’used’’ Zam cash can tell the goodness of it.
Comparing other online loans to ZamCash
From the above table, you can see that although other online loans in Zambia offer good services, Zamcash outranks them all, although Zamloan is another awesome online loan provider.
| Loan Service | Interest Rate in % | Loan Processing Time |
|---|---|---|
| Zamcash | 30 | 3 minutes to 5 minutes |
| PowerKwacha | 33 | 30 min – 35 min |
| Premier Credit Zambia | 32 | 6 hours – 72 hours |
| ExpressCredit | 31 | 3 hours – 48 hours |
| Lupiya | 32 | 40 minutes – 60 minutes |
| Zamloan | 35 | 10 minutes – 15 minutes |
How to Pay Back Zamcash Loan and receive upgrade your Loan?
Paying Zam cash on time, could leads to having an automatic upgrade of your loan amount, While the late payments may attract some penalties and loan downgrades. The guide below shows how to pay your Zamcash loan effectively and efficiently:
Paying back Zamcash loan Using Airtel Money.
Before making the payment, make sure that the network is ok where you are to avoid the process being cut off – and also you have at least K3 charge of a loan you are repaying, e.g. if you are paying back K1300 have K1303 in your Mobile money account because there is a charge of K2.5 during the transaction process.
Furthermore, do not use Airtel Money Agent SIM card, only an ordinary/personal SIM card is applicable. Below is a recommended procedure:
1. Dial *115# (This is a mobile money USSD)
2. Choose option 4 [Make Payment]
3. choose option 6 [Goods & Services]
4. Select option 1 [merchant code]
5. Enter Business Name,( Zam)
6. Enter Repayment Amount e.g. 1250
7. Enter Reference. Here enter your N.R.C number without slashes [000000000] this is a step which requires more attention because once you enter a wrong reference your loan may not be cleared until you contact the Zamtel Customer Care.
8. Enter PIN(Your own PIN Airtel mobile money PIN)
Paying back Zamcash loan Using MTN Money.
Just like Airtel Money, never use an Agent line to pay back ZamCash loan instead use a personal/ordinary line. K3.5 will be deducted as a charge from MTN Money for this service.
The procedure is shown below:
1. Dial *115#
2. Enter option 3 (Pay Bill)
3. Enter option 8 (Retail Payment)
4. Enter (Zam) on Merchant code
5. Enter Repayment Amount in full
6. Enter Reference, here enter your N.R.C without slashes
7. Enter mobile money PIN (Your own PIN)
Zamcash Loan: Terms and Conditions
Most online borrowers have a tendency of borrowing money just because it is an instant cash without reading and understanding terms and conditions attached to it. We managed to gather the accurate information about terms and conditions of Zam cash. Go through the terms and conditions below before you apply:
1. Your loan amount will increase with the increase of your repayment credibility. Borrow frequently and payback on time to increase the chances of loan upgrade.
2.Ensure that the registration number is the same as the cardholder’s name when completing the application. Never use the NRC which is not yours, it is a serious criminal offence.
3. K25.00 information audit and processing fee shall be charged for each loan audit and disbursement
4. Once the transfer is successful, all chargeable fees will have to be paid regardless of the period it takes you to pay back. In short, early loan settlement will still attract the same fees applicable.
5.The borrower shall not be liable in the event the money given to the client is used on illicit activities such as pornography, gambling (especially betting), drugs, terrorism and any act that may be repugnant to the law. Therefore, the borrower shall reserve the right to reject any application which is suspected to come from clients that may be desirous to use money for unlawful activities.
Risks
1. If the client fails to repay the loan on time, the borrower shall reserve the right to charge 1% daily interest on the principal in addition to the overdue management fees of K25 starting from the second day of the repayment deadline up to the maximum of 15 days. The facility shall also reserve the right to recover economic losses that may be caused as a result of late repayment of the client.
2. If the delay exceeds 15 days, the borrower shall be at liberty to submit the default case to CRB (Credit Reference Bureau), which may result in your credit rating to fall. The implication of this action is that, you may be disadvantaged at the time you will need to borrow money from anywhere else. According to the Bank of Zambia, you may be blacklisted if you fail to repay your loan within 60 days.
3. In the event the debt goes beyond 60 days, the borrower may submit the outstanding loan report to the borrower’s institution for onward procession to PMEC to effect deductions centrally and or submit to the bank or Mobile Money that holds the borrower’s salary account for direct deductions until the amount is recovered in full.
Your rights and obligations:
- Read the loan details carefully before agreeing to get the loan.
- Always provide accurate personal information.
- Agree to fees, policies and other information.
- Please call customer service to register for early repayments.
- You have the right to suggest or complain
Zamcash and Client Communication
I would also like to tell you about the calls which you are likely to receive from Zamcash and the reasons for such calls. Mainly there are five (5) circumstances when the calls are made some calls are not applicable to others, here are they:
- When you are new to Zamcash loan services: Few minutes after the completion of application a Zam cash loan officer makes a call to confirm the details for your application. In case you miss a call you may not have a chance to get your loan. Therefore make sure that you are alert once you finish the application. You are free to call back in case you didn’t answer the call from Zamcash
- When you have become a trusted client: After accessing Zamcash loans for more than two (2) times and your payment history is good, Zamcash officers call for appreciation purposes for you being a good person in terms of repayments.
- Few days before your loan is due: three (3) days before the loan is due you are likely to receive the text message or call as a reminder for loan payments.
- When the loan is due: again you may receive a call to remind you that your loan is due and being asked at what time you are likely to pay.
- When you fail to pay: These are types of calls which you must avoid at all costs in order to build a good credit record. These calls are meant to tell you for payments. I don’t like them for sure!
Zamcash loan Summarizing Table
| Interest Rate | Tenure | Min Amount | Max Amount | Processing Time |
|---|---|---|---|---|
| 25 – 30% | 14 – 30 days | K300 | K350 | 3 min – 5 min |
Weaknesses of Zamcash
Nothing is perfect in all its angles, although Zam cash stands out as the best online instant and cheap loan provider in Zambia, it has only one weakness – it gives ‘’small” amount of money (maximum of K3500 only).
ZamCash loans Frequently Asked Questions (FAQ)
Who is eligible for a ZamCash loan?
To be eligible, you must be a Zambian citizen, over 20 years old, have a valid national ID, and a stable source of income. Your credit history and creditworthiness may also affect your eligibility.
What documents do I need to apply for a loan?
You will need your National Registration Card (REG) Only
How long does it take to receive the funds?
Once your loan application is approved, you can receive funds within 5 minutes.
What are the loan interest rates?
Zam Cash interest rates vary depending on the loan amount, tenure, and your creditworthiness. But it does not exceed 30%
What is the maximum amount I can borrow?
Currently it is K3500 only, we shall update you once there is an increase
What is the loan tenure?
Short tenure 14 days, Long tenure 30 days. The longer the tenure the higher the interest.
Can I repay my loan early?
Yes, Zam Cash allows early repayment without penalties.
What happens if I fail to repay my loan on time?
If you fail to repay your loan on time, you may incur penalties, which can include increased interest rates and late fees. Failure to repay may also negatively impact your credit score and make you ineligible for future loans. If the situation escalates you may risk your name to be reported to CRB Zambia.
Can I apply for a loan if I have a bad credit history?
Zam Cash may still consider applications from individuals with poor credit history, but approval is subject to their risk assessment. You may be offered a lower loan amount or higher interest rates.
What should I do if my loan application is declined?
If your loan application is declined, review the reasons provided by Zam Cash. You can try to improve your credit score or eligibility criteria and reapply later. Contacting them is a sure solution.
How can I contact ZamCash customer support?
0776435588 0962303456 0962307480 0962099742 customercare.zamcash@gmail.com.
Is ZamCash regulated by the Bank of Zambia?
Yes, Zam Cash operates under the regulations of the Bank of Zambia, ensuring that they comply with financial laws and provide a secure lending environment.
Is ZamCash a safe platform for borrowing?
Yes, Zam Cash is a reputable and secure platform that follows banking regulations and adheres to data protection laws. Your personal and financial information is kept confidential and secure.
Can I apply for multiple loans at the same time from Zamcash?
No, you must settle your existing loan before applying for another one. Multiple loans at once are not permitted by Zam Cash.
What payment methods are available for loan repayment?
Airtel Zambia and MTN Zambia mobile money services.
Can I change my repayment schedule?
If you need to adjust your repayment schedule, you can contact Zam Cash’s customer support to discuss options. However, changes are not guaranteed and may come with additional fees or interest adjustments.
What are the consequences of defaulting on my loan?
Defaulting on your loan can lead to penalties, such as late fees and higher interest rates. It can also damage your credit score and may result in legal action. You could be blacklisted by Zam Cash and other lenders in the Credit Bureau, making future borrowing difficult.
Are there any hidden fees associated with ZamCash loans?
Zam Cash is transparent about fees. All fees, including processing fees – K25, interest rates, and late payment penalties, will be clearly outlined in the loan agreement. Make sure to read the terms carefully.
Can I get a loan if I am self-employed?
Yes, Zam Cash offers loans to self-employed individuals. If you are a civil – servant visit Biumoney
Is there an age limit for applying for a loan?
Yes, you must be at least 21 years old to apply for a loan with Zam Cash. There is no upper age limit, but all applicants must meet eligibility requirements. Do not forge the details!
How do I know if my loan application was successful?
ZamCash will notify you via SMS. If approved, the funds will be disbursed to your chosen mobile money wallet.
Can I cancel my loan application after submitting it?
In most cases, once your loan application has been approved and disbursed, cancellation is not possible. If you wish to cancel before approval, contact ZamCash customer support immediately.
Does ZamCash offer loans to people with no credit history?
Yes, ZamCash may offer loans to people with no credit history, although the loan amount may be limited, and the interest rate could be higher. Building a good repayment history can help improve your credit score for future loans.
What happens if my loan is approved but the funds do not reflect in my account?
If you do not receive the funds after your loan has been approved, you should immediately contact ZamCash customer support. They will help trace the issue and ensure the funds are transferred to your account. But this situation is very rare and it could be only caused by network failure, not the Zamcash loan system.
Can ZamCash loans be used to consolidate other debts?
Yes, you can use ZamCash loans to consolidate other debts, but it is important to ensure the loan amount is sufficient and that the repayment terms are favourable for you.
Does Zam Cash charge an application fee?
No application fee. Only processing fee which is K25
Can I apply for a loan if I am a student?
Yes
Can I take out a loan if I am on a fixed-term employment contract?
Yes, if you are on a fixed-term contract and can show proof of income for the duration of your employment, you may qualify for a loan.
What type of interest does ZamCash charge (fixed or variable)?
ZamCash typically charges fixed interest rates for their short-term loans, meaning the rate remains constant throughout the loan tenure. This allows you to know exactly how much you will pay back.
What if I overpay on my loan?
If you overpay your loan, the excess amount will either be refunded to you or applied toward your next loan, depending on ZamCash’s policy. Contact customer support for clarification.
Can I request a payment holiday or pause my repayments?
ZamCash may not offer formal payment holidays, but if you are facing financial difficulties, you should contact them to discuss potential solutions. Extensions or restructuring of the loan may be available, though additional fees may apply.
Are there any penalties for withdrawing from the loan application process?
If you withdraw your loan application before approval and disbursement, there may be no penalties. However, if you withdraw after disbursement, you are still responsible for repaying the amount borrowed along with any accrued interest.
Does ZamCash report to credit bureaus?
Yes, ZamCash reports to credit bureaus. Timely repayments can help build a positive credit history, while late or missed payments can negatively affect your credit score.
How long does ZamCash keep my personal information?
ZamCash follows data protection laws and retains your personal information only for as long as it is necessary for providing services or as required by law. Check their privacy policy for details on data retention.
Are there any incentives for referring others to Zamcash?
Some lenders offer referral bonuses, but you should check directly with ZamCash to see if they have any referral programs or incentives for bringing in new customers.
What should I do if I experience technical issues with the ZamCash website?
If you experience technical issues while using the ZamCash app or website, contact their technical support team or customer service. They can assist in resolving login problems, application submission errors, and other technical difficulties.
Can I use ZamCash to build my credit score?
Yes, timely repayment of Zam Cash loans can help build your credit score over time, especially if they report to credit bureaus. Ensuring you meet all repayment deadlines is crucial to improving your creditworthiness.
Does ZamCash offer loans for specific purposes like medical bills or education?
Yes, ZamCash loans can be used for various purposes, including medical bills, education expenses, emergency costs, or personal needs. However, it’s important to use the funds responsibly, keeping in mind your repayment obligations.
Can ZamCash loans be used for long-term investments?
ZamCash primarily offers short-term loans, so they may not be the best option for long-term investments. It’s advisable to look for other financing options if you need funds for a longer duration.
How do I update my personal information with ZamCash?
To update your personal information, log into your ZamCash account through the app or website and follow the prompts to make the necessary changes. If you have any issues, contact their customer support.
Does ZamCash offer any rewards for good repayment behaviour?
ZamCash may reward good repayment behaviour with higher loan limits, better interest rates, or faster approval times on future loans. Check with ZamCash to learn about any specific benefits for consistent borrowers.
Is there a grace period for repaying ZamCash loans?
ZamCash typically does not offer a grace period. Repayments are due as outlined in the loan agreement. If you anticipate difficulty in repaying on time, it’s essential to contact Zam Cash in advance to discuss potential options.
How does ZamCash handle customer complaints?
ZamCash has a dedicated customer service team to address complaints. You can file a complaint through their app, website, or by contacting them directly via email or phone. Zam Cash aims to resolve issues promptly and fairly.
Can I choose a specific loan amount and tenure?
Yes, when applying for a loan, you can typically choose the amount you want to borrow and the tenure within the limits set by ZamCash. However, your final loan offer may depend on your creditworthiness and eligibility.
Can I apply for a loan if I am travelling abroad?
Yes, you can apply for a loan with ZamCash even if you are temporarily outside Zambia, as long as you meet the eligibility criteria and have the required documentation and access to mobile or internet services.
Conclusion
Zamcash stands out as the most reliable and accessible solution for anyone seeking instant, collateral-free loans in Zambia. Whether you’re a student needing financial assistance, a business owner looking for ‘’small’’ working capital, or a civil servant in need of quick cash, Zam cash offers tailored loans with flexible terms. My personal experience with Zam cash over the past few years has proven its efficiency and customer-centric approach, making it my go-to platform for emergency financial needs.
With its fast approval process, low-interest rates, and flexible repayment options, Zam cash continues to revolutionize the loan industry in Zambia. The ease of application and quick disbursement make it an ideal choice for individuals seeking immediate financial support. If you are looking for a trustworthy loan provider, Zam cash is a solid 9/10 based on my experience, and I highly recommend it to anyone in need of fast and convenient financial solutions. Apply now and get your ‘’Ichola’’ money.
Let us have your views and experiences about Zam Cash loans in the comment section.
