Zamcash and Zamloan are both financial service providers in Zambia offering quick, short-term loans, but they differ in their target audiences, loan amounts, and processing times.
Here is a comparison between Zamcash Vs Zamloan:
Zamcash:
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Target Audience: General public, including students, business owners, and civil servants.
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Loan Amounts: Offers loans up to K2,000.
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Processing Time: Disburses funds within 5 minutes of application approval.
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Application Process: Fully online with no paperwork required.
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Repayment Terms: Typically 14 days, with some options extending to 30 days for repeat borrowers.
Zamloan:
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Target Audience: Primarily civil servants and private sector employees with mobile money accounts, Airtel or MTN.
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Loan Amounts: Offers payroll loans ranging from K5,000 to K100,000.
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Processing Time: Disburses funds within 1 hour of application approval.
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Application Process: Fully online with no paperwork required.
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Repayment Terms: Flexible terms, often ranging from 12 to 24 months.
Comparison:
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Loan Amounts: Zamloan offers higher loan amounts (up to K100,000) compared to Zamcash's maximum of K2,000.
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Processing Time: Zamcash provides faster disbursement (within 5 minutes) than Zamloan (within 1 hour).
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Target Audience: Zamcash serves a broader audience, while Zamloan focuses on salaried employees, particularly those in the public sector.
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Repayment Terms: Zamloan offers longer repayment periods (up to 24 months) compared to Zamcash's shorter terms (up to 30 days).
When choosing between the two, consider your employment status, the amount you wish to borrow, and your preferred repayment period to select the service that best fits your financial needs.
Zamcash or Zamloan?
For civil servants you have opportunities to use both Zamcash and Zamloan and your choice should be based on amount you want. For bigger amounts choose Zamloan while for short small amounts go for Zamcash. For the general public Zamcash is still a great pick though we have many other fast loan providers available.
Did you know?
You can apply for both Zamcash and Zamloan using this android App
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