Mwachangu loans work hard to help Zambians who need fast cash online. Its mobile App is easy to interact with. In our review we will provide necessary information about Mwachangu loans.
Loan Products Offered by Mwachunga
Mwachangu offers loans for all your needs whether you are a student, small business owner or a parent. During application Mwachangu will never request you for the purpose of your loan.
After interacting with dozen of Loan Application App, we have seen that Mwachangu loans App is the best service of all times in Zambia. Thus, in our 13 best instant mobile loans in Zambia, we ranked it on number 4. For it is very similar in terms of loan services just like Zamcash, Zamloan and BiuMoney.
Mwachangu Loans Eligibility Criteria
- Only National registration Cards and faces (selfies).
- Active mobile money account especially MTN and Zamtel.
- Age 21 years and above
Interest Rates and Loan Terms
Mwachangu loans come with competitive interest rates and flexible repayment options. Interest rates should never be overlooked whenever you are looking and considering factors to look at when applying for a loan of any kind here is an example of Mwachangu loan interest calculations:
Loan Amount: ZMW 100 – ZMW 5000
Loan Term: 91-180 days
Annual Interest Rate: 19.45% to 31.29%
Service Fee: 1% to 3%
For instance, if you borrow ZMW 1000 for 90 days at an annual interest rate of 20%, the total repayment amount, including service fees and interest, will be ZMW 1059.32.
How to Apply for Mwachangu Loans
The Mwachunga loan application process is structured to be quick and easy to follow. Simply follow correctly the following steps:
- Download the Mwachunga App from the appropriate app store.
- Upon registration, you will receive a notification with a pin code from the phone number you submitted. Confirm the PIN before its expiry time, do it within 6 minutes.
- Submit the required basic documents as part of the application process, especially the National Registration Card (N.R.C). Sometime the system may request you to submit the phone numbers of workmates and relatives. If this happen make sure that you submit their active numbers and inform them.
- Once the documents are submitted, your application will undergo a risk evaluation for some minutes. This risk evaluation involves the following: checking if the documents, numbers and selfie are yours.
- If your application is approved, the funds will be disbursed directly to your mobile money wallet account which you submitted.
Loan Disbursement and Repayment Options
Loan repayments are only done through mobile money wallets. Your early payments increase the chances of loan upgrades.
Why Choose Mwachangu Loans?
The following are the factors which have led us to recommend Mwachangu loan App.
- Easy application process
- Affordable Interest rates
- Early loan upgrades
- Partial payments accepted
- Quick assistance when there is a system challenge
Frequently Asked Questions (FAQs) about Mwachangu Loans
Is collateral required to secure a loan from Mwachangu?
No, collateral is not required. The loan is unsecure.
How quickly will I receive a decision after submitting my loan application?
Intelligent risk assessment systems process applications within 3 minutes. In cases where additional information is required, a member of the Mwachangu team will promptly contact you for clarification and verification
How is the personal information I provide utilised?
The information you submit is used only for the sole purpose of assessing your creditworthiness – and it will never be exposed to the public in any way Upon completion of your loan, you may request the deletion of your data by contacting them via email at Mwachungaservices@gmail.com.
Will I receive reminders before my repayment is due?
Yes, Mwachangu loan officers will send you a reminder 1-2 days prior to your repayment date, either via phone call or text message, to help ensure timely repayment and prevent any negative impact on your credit score.
How can I increase the loan amount for which I am eligible?
Just like other loan services we have been reviewing, there is mainly one method for loan eligibility increase – timely repayments.
Conclusion
We have recommended Mwachangu for its commitment in providing fast, reliable, and secure financial services to meet the different needs of Zambians both in rural and urban areas. Whether you are a student, entrepreneur, or civil servant, Mwachangu Loans is here to help alleviate your financial burden with ease and transparency. Try to apply today and experience the simplicity and efficiency of their loan services. If you are a civil – servant try one out of the following 14 best loans for civil servants in Zambia. For more information and contact visit https://www.mwachangu.com/
We do accept your suggestion and recommendations regarding the information we do provide. Submit your reaction in the comment section below.
