Image by Xtenda
Salary advance loans, also known as payroll advance loans or paycheck advance loans, are short-term loans designed to provide employees with access to a portion of their upcoming salary before their actual payday.
Here are best online salary advance providers in Zambia
1. Xtenda Finance Zambia
Xtenda Finance Zambia offers payroll-backed loans, including salary advances, targeted primarily at government and quasi-government employees. These loans range from ZMW 1,000 to ZMW 150,000, with repayment periods between 3 and 72 months. Xtenda’s salary advance loans are designed to assist employees with urgent financial needs, such as education, medical expenses, home improvements, and funeral costs.
Key features;
- Paid through salary deductions
- Loan is given withing 12 to 48 hors
2. Izwe Salary Advances
Izwe now offers salary advance loans up to K 3,500 with repayment terms of up to 3 months.
Apply online and receive feedback within minutes. Cash will be paid to you in less than 24 hours from your application approval and you choose the repayment terms.
- No lengthy paperwork
- Instant processing times
- Attractive interest rates
- Up to three months to repay
- A fast, salary advance loan, up to K3,500
3. Meanwood salary advance loans
Our short term Loans are meant to assist our valued customers to meet their short term financial needs. This is payable on the next pay day through Mobile Money, Direct Debit (DDACC) or cash payment.
Loan Requirements:
- Copy of NRC
- Latest Payslip
- 2 Passport Size Photos
- Proof of Residence – Utility Bill
Get in touch with us
info@meanwoodfinance.co.zm OR call us on: +260 973 080 384 / +260 950 257 837
4. Mofin Zambia
This product is aimed at formally employed individuals with limited or no access to conventional credit. The product is generally used by clients as a solution to unforeseen emergences such as medical, educational, funeral related expenses or when personal emergences occur.
Key Feautures
- Size: K300 – K15,000
- No initiation fee
- No monthly service fees
- Term of Loan: 3 Months
- Disbursement Method: Direct credit to the client’s transactional account or online payment platform.
- Repayment Frequency: Monthly, fortnightly, Weekly.
5. Gs cash advance
Choose GS Cash Advance because:
- Quick and instant
- No collateral required
- Reliable loan service
- Transport process with no hidden costs
- NRC or Driver’s License or Passport
- Two (2) Latest Pay Slips
- Two (2) Months latest bank statement
- Pre-approved letters
6. ZNBS Salary Advance
Whether you have run out of money to meet your urgent needs or you need a quick fix to sort out some bills, a Salary Advance will give you extra funds that you need. To qualify for a Salary Advance, you need to have a Salary Account with ZNBS.
Key Features And Benefits
- Flexible repayment period: 1 - 12 months
- Competitive interest rates at rate 3.38%/Month
- Simple application procedure
- No security required as it is a salary backed loan
- Approval with 24 hours of submission of the loan application and all the requirements
- Six months tenure
Requirements:
- Proof of employment
- Salary/Stop Order Account
- Copy of NRC, Valid Passport, Valid Driver’s License
- Passport Size Photos
- Utility bill, Tenancy agreement or letter from employee
7. Access bank salary advance
Our Instant Salary Advance is available via mobile banking to salaried account holders and those with regular income channelled through an Access Bank Accounts.
Features
- 0% interest
- Available via Mobile Banking by dialling *801# or logging on to our Mobile Banking App
- No collateral required
- Repayment period from 1 - 3 months
- Contact them : +260770712001, +260971236660
8. Rainbow capital
Salary Advance Loans
Their Salary Advance facility has a flexi tenure that ranges from 1 to 3 months
Less papers work with qucik reimbursement.
Call them at 0 976202967
9. Lupiya salary advance
They offer salary advance upto K10,000. They have great customer care and more flexible in payment plans than others.
Repayment is upto 3 months and loan is given in 2 days [rovided all the documentation is available.
Lupiya is famous for giving salary advance to civil servants in Zambia
Summary
Salary advance loans in Zambia provide a fast and convenient way for employees to meet their short-term financial needs. However, the potential costs and risks, such as a reduced paycheck and dependence on frequent borrowing, make it essential for individuals to use these loans responsibly. Borrowers should also consider alternative financial solutions such as employer-provided advances, savings, or more affordable loan options from credit unions. Most money lenders are doing towards offering online salary advance
