Frequently Questions

Do you have any Questions?

Please read questions below and if you cannot find your answer, please send us your question, and we will answer you as soon as possible.

What are the requirements for obtaining a loan?

  • Requirements and eligibility are as follows:
  • 21 years old and above
  • Have a valid original
  • NRC/Driver’s license or
  • Passport
  • Be in full employment with an active bank account if looking for a personal loan
  • Actively trading in a business for more than 6 months if looking for a business loan
  • Holder of a registered mobile phone number

What documents am I required to bring with me?

  • Valid ID (NRC, passport or driving licence)
  • Latest payslip (stamped)
  • Bank statement for the last 1 month
  • Letter of introduction from employer (on headed paper)
  • You can upload these documents online during your online application via our website.

I do not have one of the required documents, can you make an exception?

Unfortunately, as our loans are unsecured, we require all the documents as set out.

How does it work?

We offer loans between K500 and K250,000.


These are cash advances (Payday Loans); Makwebo loans (Business loans); Personal loans; Invoice Discounting and Order Financing


Loan approval is subject to affordability on your pay slip and or credit score from the Credit reference bureau (Transunion).

What is the interest rate

The monthly interest rate vary depending on the loan product, for more information, please use the financial calculator on the home page for precise rate.

How are the payments made?

The deductions are made from the salary on every pay day. This may be done by your employer or by the bank on our behalf through direct debit. You can also pay via mobile money on MTN or Airtel.

Do you give loans to students?

Unfortunately, we currently do not have any loan products for students. This is because our loans are unsecured and our administrative and recovery procedures are designed for this purpose.

What if I'm unable to pay?

If you cannot pay off the entire loan on your next repayment date, but can only make the payment after, we can offer you a pay later facility.

Do I need to fund the entire loan?

No, so there are many individual lenders who come together to contribute to each successful loan. You can lend a minimum of K500 or more to a borrower to help them reach their goal, and you can see the other lenders who supported that borrower at the bottom of the loan profile.

Will I get the money back, and how?

Yes, and we guarantee repayment of all loans as you have a safety blanket of a buyback obligation. You can withdraw any sum within your available balance on the portal via mobile money or card transfer.

How secure is my information as an investor?

In terms of security of Investor data;


  • It is ISO 27001:2013 certified;
  • PCI DSS compliant – has received a PCI certification. It signifies that the company maintains rigorous data security standards to ensure that its customer’s credit card information remains safe and secure;
  • The technology is cloud based and hosted by Amazon Web Services (AWS) and Microsoft Azure and Google Cloud that provide a secure and scalable computing capacity in the cloud.

How secure is my investment?

We will offer a Buy back guarantee, which means that if a loan is delinquent for more than 60days, PremierCredit will buy back the investment at nominal value plus accrued interest.


This means the investor will be able to recover their investment in case of borrower default.


We place emphasis on using the most advanced and representative scoring techniques using AI technology to provide good performing loans on the platform. The investor will be confident and secured that they are investing in loans that will be repaid on time and in full with interest.


Credit risk assessment initiatives are in place, using advanced technology that has Cloud-based infrastructure, Advanced AI-driven intelligent scorecard, automated underwriting, Integrations with credit bureaus (Transunion), banks and payment providers.

What is the minimum and maximum I can invest?

As low as K500, investment is no longer out of reach, everyone is welcome. There is no maximum amount to limit how much on can invest.

Do you have investment opportunities in foreign currency?

Currently we do not have. All investment opportunities are in local currency.

Can Non- Zambian citizens invest?

Absolutely, all individuals, private and public institutions, corporate entities, MSMEs are invited to invest. Investment opportunities are readily accessible to everyone.

Does PremierCredit invest its own funds?

Yes. Our investment strengthens our “skin in the game” in understanding and learning from our own data, risks and consumer behavior, as well as patterns to reduce the risk of bad debts.

PremierCredit will continue to invest alongside other investors on the platform as this also helps us to maximize our returns in the short and long term. We walk the talk: PremierCredit invests its own money on the platform to also demonstrate our confidence in our credit scoring model and also to gauge borrower behavior in terms of repayment and default so as to further enhance our credit scoring model.

What are the risks involved?

Credit risk: This is the risk that a borrower defaults on a loan, we have managed this by:


Pre-screening: Before on-boarding a borrower, we conduct thorough checks to determine their capacity to pay. Using our credit-scoring model, we establish the borrower’s credit score and reference third party information from Transunion (CRB). We also ensure the credit we lend is only used solely for business-purposes.


Diversification: We put your eggs in many baskets! The P2P platform spreads your risk by lending your funds across multiple borrowers.


Prudent collection methods: through automated SMS reminders to customers before and when they are due including having call touch points through our in house customer care team to remind them to make their payments.


Operational risk: This is the risk that PremierCredit as a company ceases to exist as a going concern. Please note that we are regulated by the Securities and Exchange Commission (SEC) and are obliged to report our going concern to the authorities.


Liquidity risk: The direct performance of liquidity risk is difficult to withdraw cash i.e. it is unable to obtain sufficient funds in time to deal with the risk of payment of matured debts or principal and interest. Please note that the P2P platform is backed by a reliable and highly solid financial group, a US based Venture Capital firm, hence adds security to the investments. Therefore, sufficient funds will be available to settle liabilities when they fall due.

How do you ensure Borrower protection?

Consumer protection is at the heart of our business for both our borrowers and lenders/investors. With the expertise of our legal arm, we have been able to set clear terms and conditions for our customers including complying with the best international practices over and above that which is required by Zambian laws. We take a collaborative approach in educating our customers on our terms of use and ensuring good user experience in presenting and communicating the terms on our platform.


We do this through 2 primary methods: Education and Borrower profiling.



1. Education


We understand that the character of a borrower is a key factor in whether they will meet his/her loan obligation. To this end, we spend considerable time in educating the borrower as a means of positively influencing their character. Our loan process starts with education and creating self-financial awareness to the low income borrowers. This is followed by a clear explanation of the terms and conditions of the loan, in a language that is conversant to the borrower, and information on how the ability of the borrower to diligently abide by these terms helps them to improve their credit history performance, and to ultimately connect them to the formal financial system. Additionally, this education helps us to build a loyal relationship with our customers and understand their needs better. The credit we facilitate is built on responsible financing – transparency and trust to the investors by giving them sufficient information about the borrowers’ risk profiles and use of funds. Importantly, time is taken to explain to the borrowers what the Credit Reference Bureau (CRB) is, and to introduce them to the concept and consequences of “blacklisting”.


2. Borrower profiling


Importantly, our goal is to be sustainable in the long term, and we know that this will only be possible by ensuring that the majority of our borrowers have the capacity to pay back the micro loans they are given. Our profiling helps us to understand the borrowers better and as such, we take guardianship seriously, and are careful not to overextend the amount of credit to an individual until the borrower has proven that they have the ability to generate the necessary payments and thus not fall into a debt trap. We offer the right loan, at the right time to the right customer.

Can I withdraw money from a loan that I have made before it has been repaid?

When funds are committed to a loan that has been disbursed, the money is with the borrower and cannot be reclaimed until it is repaid. When the borrower begins making repayments, these earnings are transferred back to your PremierCredit account. Once the funds are in your PremierCredit account, you can withdraw the funds at your convenience though we encourage you to re-invest to maximize your long-term returns.

Are there any Tax implications I need to be aware of when I lend on the P2P lending platform?

Yes. Returns/Revenues that you earn on the investment will be considered part of your taxable income in accordance to the Zambian law. Non-residents (Foreigners) will also be required to pay taxes. PremierCredit will deduct 15% Withholding Tax for all interest earned by local investors on our platform and 20% Withholding Tax on Non-residents in accordance with Zambian law. Kindly note that we will be issuing you the Withholding Tax Certificate at the end of every month. That said, we are always flexible to issue it upon request by a lender/investor. In case of any further queries on tax contact us at

Is the PremierCredit Peer to Peer Lending platform regulated in Zambia?

We are currently one of the leading Fintech in Zambia approved under the Securities and Exchange Commission (SEC), Capital Markets Authority of Zambia through its Regulatory Sandbox, this ensures our platform is tested, proven and ensures risk mitigation for lenders/investors on the platform at the same time consumer protection.  Our goal with the regulator is to be transparent, proactive and engage them at all times to ensure we are doing business in accordance with Zambian law as advised by our capable legal team at all times in the end working with the required laws as they may fit over time.

What does your company do?

PremierCredit offers the most affordable financial solutions that can be accessed online, through mobile applications and in our well established branch network.

How can I contact you?

Stand No. 4, Second Floor, Office Block 2,   Stand No. 7732, ECL Business Park, Kitwe
Tel: +260 761 228721


Stand No. 921, Independence avenue, next to FNB branch, Solwezi
Cell: +260 761228716


Stand No. 4, Sunshine Centre, Oxford road, Central Business District, Kitwe
Cell: +260 761228725


Stand No. 4B, Ground Floor, Main Building, Central Park, Cairo Road, Lusaka
Cell: +260 761228720

Your branches are not present in my hometown; how can I access your services?

Fortunately, with PremierCredit, you can apply online here or through our call center, +260761228721.

What are your working hours?

We are open Monday to Friday from 08:00 to 17:00hrs weekdays only and 08:00 to 13:00 Saturdays only. We are closed on Sundays and all public holidays.