Where to get loans in Zambia without collateral

Getting a loan in Zambia shouldn’t require land titles, paperwork from 1997, or begging your employer for a letter. Thankfully, several modern lenders are offering clean, fast, no-collateral loans to help Zambians access credit without drama.

With over 60% of Zambians still don’t have access to formal credit, there are just more than enough Zambians that can’t get the loans they need because they don’t have the assets lenders need.

But here’s the good news: not all loan apps are the same. Despite the horror stories, there are a handful that do exactly what they say, deliver quick cash when you need it most.

If you need money quickly and don’t have assets to pledge, here are the best loan apps and platforms that will still say yes.

And with more than 70% of Zambians now using mobile phones, there’s no reason why you shouldn’t be able to take advantage of these digital solutions. Whether it’s for school fees, a business boost, or an unexpected emergency, these five loan apps are changing the game by putting control back in your hands.

Let’s dive in.

1. RapidMoney

RapidMoney is an online loan application in Zambia that allows users to apply for personal loans up to K20,000 anytime and anywhere. It provides flexible and good loan services through a completely online process without any need for a collateral.

You need a valid identification to prove your Zambian citizenship, must be 18 years or older, must have a stable monthly income, and own a mobile wallet.

Loan offer:

• Minimum and maximum loan amount: K100 to K20,000
• Tenor: 91 to 365 days
• Interest rate: Not exceeding 24% annually

2. Unifi

Unifi Zambia offers fast, simple, and flexible loans for employed customers. It is part of the Unifi Africa group, which operates across Africa and has its roots in Unity Finance, founded by Charles Bernhardt in 2007. The business became part of the Unifi Group in 2015 and rebranded to Unifi in 2020.

To apply for a loan, you need a valid bank account, latest payslips, valid national ID, latest bank statement, original National Registration Card (NRC), phone number, and must be aged between 18 and 60 years.

Loan offer:

• Minimum and maximum loan amount: K1000 to K100,000
• Tenor: 2 to 12 months
• Interest rate: As low as 6%

3. Lupiya

Lupiya is a fintech startup that provides various types of loans, such as personal, business, scheme, and collateral-backed loans. Founded in 2016, Lupiya aims to foster financial inclusion in Zambia by simplifying borrowing processes and requirements. In September 2023, Lupiya secured $8.25 million in a Series A funding round to scale operations in its home market and in new ones.

To apply for a loan, you need latest payslip, proof of residence, a valid National ID, must be aged between 18 and 60, latest bank statements and original National Registration Card (NRC), Valid phone number and valid bank account.

Loan offer:

• Minimum and maximum loan amount: Personal loans up to K20,000; working capital loans up to K1 million
• Tenor: 2 to 60 months
• Interest rate: As low as 2.5%

4. Zanaco Mobile Bank

Zambia National Commercial Bank (Zanaco) is a commercial bank in Zambia, licensed by the Bank of Zambia. Founded in 1969, Zanaco offers a range of financial services, including mobile banking solutions.

You need an active Zanaco account, mobile wallet, a valid National ID card, must be a citizen of Zambia, with a phone number, and be aged between 18 and 60 years.

Loan offer:

• Minimum and maximum loan amount: K1000 to K1,000,000
• Tenor: 90 to 365 days
• Interest rate: Depends on the loan product

5. Tandiza Finance

Tandiza Finance offers various loan options for personal and business needs, with low interest rates, no hidden fees, and fixed terms. They also provide financial literacy workshops to empower clients

You need the following requirements: Valid National ID, aged 18 and 60, a citizen of Zambia, valid phone number, valid bank account, and stable employment.

Loan offer:

• Minimum and maximum loan amount: K1000 to K50,000
• Tenor: 3 to 36 months
• Interest rate: Home loans are offered at 3.75%, personal loans are offered at 8.72%, car loans at 5.68%, business loans at 7.4%.

The next step is yours: choose the app that aligns with your needs

Need cash fast? Whether it’s rent, school fees, business float, or some emergency that just showed up uninvited, these five apps, RapidMoney, Unifi, Lupiya, Zanaco Mobile Bank, and Tandiza, are some of the few that won’t waste your time or ask for your great-grandfather’s land documents.

They don’t need collateral. They don’t need drama. Just your ID, proof you earn something, and a few taps. The interest rates are fair. The terms are flexible. You can apply from your phone without dressing up for any bank manager.

Each one plays to a different strength. Some are faster. Some offer more money. Some are built for salary earners. Others for hustlers. But the common thread? They are built for actual people living real lives.

If you’re tired of being bounced by traditional banks or you just want to skip the queues, these are your best bets. Loans that land. Systems that work. No need to beg anyone.