FAQs2018-12-24T11:42:15+02:00

FAQs

Agency Banking

Can I trust the FINCA eXpress banking agent network?2018-12-21T11:10:22+02:00

Yes, all transactions carried out at FINCA eXpress agents are secure:

  • The Point of Sale terminals require biometric client identification before the transaction is processed. This protects against fraud.
  • In addition, you will receive a receipt for all transactions you make.
How can I perform a transaction at a FINCA eXpress Agent?2018-12-21T11:10:29+02:00

It’s simple: enroll at the nearest FINCA Zambia branch to use the service. Your biometric data will be captured and you will be able to transact at any FINCA eXpress agent in Zambia.

How do I register to use the service?2018-12-21T11:10:35+02:00

Registration is simple, quick and free. Just visit the nearest FINCA Zambia to be enrolled. (Note that registration must be done at a FINCA Zambia branch.)

Why does an existing FINCA Zambia client have to register?2018-12-21T11:10:43+02:00

The registration involves capturing your biometric data. Capturing your digital fingerprint enables you to do banking at a FINCA eXpress agent.

How much does it cost to transact at a FINCA eXpress Agent?2018-12-21T11:10:50+02:00

All transactions are free.

How will I know that the money has been deposited in my account?2018-12-21T11:11:24+02:00

You will receive a receipt for your deposit and for any other transactions performed. This receipt confirms that the transaction has gone through.

Can I still visit a FINCA eXpress agent possible when FINCA branches are closed for business?2018-12-21T11:11:30+02:00

Yes, one of the advantages of FINCA eXpress is the ability to do your banking closer to where you live and to make transactions outside of normal working hours at FINCA branches.

Where can I find a FINCA eXpress Agent?2018-12-21T11:11:35+02:00

You can see our agent network here.

Loans

What loan products do you offer?2018-12-21T11:08:31+02:00

We offer group and individual loans. For Group Loans, group membership can range from three to as many as ten. For individual loans, we offer both Business and Small Enterprise Loans.

How long does it take to access a loan from FINCA?2018-12-21T11:08:47+02:00

Loan processing takes at least five working days provided that all requirements are met and all necessary documents are submitted.

How often am I required to make payments?2018-12-21T11:08:57+02:00

Loan repayments are made on a monthly basis.

How much do I have to repay each month?2018-12-21T11:09:02+02:00

Your regular monthly repayment/installment depends on the approved loan period and amount (the longer the loan period, the lower the amount of each loan installment). Your Client Relationship Officer will provide you with a loan repayment schedule.

How much money can I borrow?2018-12-21T11:09:09+02:00

Our loan amounts range from K1,000 to K1,000,000.

What collateral do I need to provide?2018-12-21T11:09:14+02:00

Depending on the loan amount, collateral can range from personal property to tangible assets.

Do you finance startup businesses?2018-12-21T11:09:18+02:00

At the moment we do not finance startup businesses.

Do you give salary-based loans?2018-12-21T11:09:23+02:00

We do not offer salary-based loans. We are an enterprise lending institution, with loan repayments are made from business income.

Can I use income from sources other than my business to repay the loan?2018-12-21T11:09:31+02:00

Although our loan assessment is based on business income, you can use income from other sources to pay off the loan.

Do you offer education or household loans?2018-12-21T11:09:38+02:00

We do not offer education or household loans. Our loans are for business purposes only.

Savings

What savings products do you have?2018-12-21T11:09:45+02:00

We offer: a standard savings account; FINCA Saver Account; Fixed Term Deposit (FTD); and Corporate Account.

What are the requirements for opening a savings account?2018-12-21T11:09:52+02:00

Opening a savings account requires: a valid identity card (NRC, Passport, Driving license) and address verification documents (i.e., utility bill).

For opening a Corporate Savings Account, the following documents are required: certificate of incorporation/registration; memorandum and articles of association; and resolution from directors/company form 5.

How much is the interest rate on a savings account?2018-12-21T11:10:03+02:00

Interest rates on savings depend on the type of savings account, the amount of money saved and the period of the savings. The longer the period and greater the amount, the higher the interest rate and subsequent returns.

How often can I withdraw money from my savings account?2018-12-21T11:10:10+02:00

There is no withdrawal limit on our savings accounts. However, with the Term Deposit one can only make a withdrawal after maturity.

What fees are charged on a savings account?2018-12-21T11:10:16+02:00

Please refer to the tariff guide/pricing list displayed in the branches and available upon request.

Others

Can I access services such loans and savings if I live in a region or town where FINCA Zambia does not operate?2018-12-21T11:11:41+02:00

Unfortunately, our services are only available to those within regions or towns where we operate due to the high operational costs involved in business assessment and monitoring.

Where are FINCA Zambia branches located?2018-12-21T11:11:46+02:00

We have branches in Chingola, Kitwe, Ndola, Kapiri, Kabwe, Lusaka, Chipata, Kafue, Mazabuka, Monze and Choma. See our branch network.

What are normal working hours at FINCA Zambia branches?2018-12-21T11:11:52+02:00

We are open from 08:30 to 16:00 every Monday through Friday, other than public holidays.

Do you have ATMs?2018-12-21T11:11:58+02:00

We do not have ATM facilities at the moment.