Frequently asked questions about loans in Zambia

Who can apply for a loan? +

Any Zambian resident with a valid NRC, a reliable income stream, and acceptable collateral can apply.

How long does loan approval take in Zambia? +

Most complete applications are reviewed within 24 to 48 hours, depending on document verification.

How soon can I get the money after approval? +

After approval and signing, disbursement is usually processed the same day or next business day, depending on verification and channel.

What documents do I need? +

You typically need your NRC, proof of income, and collateral ownership documents. Our team may request extra documents depending on the product.

Do I need collateral? +

Most of our facilities are collateral-backed. The acceptable collateral depends on the product and amount requested.

What collateral do you accept? +

Common collateral may include motor vehicles, property-related documents, or other approved assets, subject to valuation and policy.

Do you offer personal and business loans? +

Yes. We offer personal, business, and other collateral-backed products depending on your needs.

What is the minimum and maximum loan amount? +

Loan amounts vary by product and collateral, with options from smaller personal amounts to large business facilities.

What interest rates do you charge? +

Rates depend on product type, risk profile, and repayment period. You will always receive a clear offer before accepting.

How are repayments calculated? +

Repayments are based on your approved amount, rate, and tenure. We share your installment plan clearly before disbursement.

What is the loan tenure? +

Tenure depends on the selected product and risk profile. Your final offer letter shows the exact repayment period.

Are there any hidden fees? +

No. We disclose all applicable fees and terms before disbursement so you can make an informed decision.

Do I pay processing fees? +

Some products may include processing or related charges. All applicable fees are disclosed before you accept the offer.

How is the loan disbursed? +

Once approved and signed, disbursement is made through the agreed payment channel, typically bank or mobile money.

Can I repay early? +

Yes, early repayment is allowed. Applicable terms are explained in your loan agreement.

Can I change my repayment date? +

In some cases, yes. Please contact support early so our team can review options based on your facility terms.

What happens if I miss a payment? +

Please contact us immediately. Late payments may attract penalties, and we will guide you on available options.

Can someone apply on my behalf? +

For security, key verification steps must be completed by the applicant. Our team can advise on any permitted representation.

Do you check CRB records? +

Yes, credit checks may be part of our assessment process based on product and policy requirements.

Will applying affect my credit score? +

Credit checks may be conducted as part of assessment. We recommend applying only when you are ready with correct details and documents.

Can I apply online? +

Yes, you can apply online through the form on this page, and our team will follow up with you.

Can I apply without an NRC lookup? +

Yes. There is no NRC lookup on this page. Enter your NRC number on the form and it is sent with your application.

Is my information secure? +

Yes. We treat customer data confidentially and use standard safeguards to protect your information.

Can I top up an existing loan? +

Top-up eligibility depends on your repayment history and current facility terms. Our team can assess this for you.

Can I refinance my current loan? +

Refinance options may be available based on your current facility performance and updated assessment.

Do you lend to salaried and self-employed clients? +

Yes. Both salaried and self-employed applicants can be considered, subject to proof of income and eligibility checks.

Can I track my application status? +

Yes. Our team shares updates by phone or email after submission and during review. You can also use the Track Loan page with your Loan ID.

Do you operate on weekends? +

Yes. Our office hours are Mon–Fri, 8:00 am – 5:00 pm CAT and Sat, 08:00hrs – 13:00hrs. For urgent requests, submit the form and we will follow up promptly.

Where are you located? +

We are located at No 2882/B/5/10 Mission Drive, Lusaka. You can also reach us by phone on +260 77 743 8353 or email Admin@gracimorloans.com.

How do I contact support? +

You can call, email, or submit the contact/application form. Our advisors are available during business hours.