- Email
  siametimothy@gmail.com
- Address
  
  Mpelembe House, Broadway Roundabout, First Floor, Room 113, Ndola, Zambia.
- Phone
  0972411327

WELCOME TO LIBUNGE MICRO FINANCE LIMITED

About Us

Libunge Microfinance Limited

Libunge Micro Finance Limited was formed by a group of Civil Servants that came together and put their resources in one place in order to liberate themselves from the shackles of high lending and borrowing financial institutions. It was registered on 30th December, 2022 with PACRA. Libunge microfinance is licensed by the Bank of Zambia. We offer salary advances, short term loans and payroll backed loans at the lowest rate of 20% to the perceived highly indebted Civil Servants for their economic freedom and emancipation.We are committed to helping you achieve your financial goals and dreams. Our loan services are designed to provide you with the support and resources you need to take control of your finances and embark on a path towards prosperity.Our experienced team of financial experts is dedicated to understanding your unique needs and finding the best loan solutions that align with your goals.

About Us

Libunge Loan Features

Why Choose Libunge Loans?

We believe in transparency, and that's why we offer competitive interest rates. We also understand that everyone's financial situation is unique, and that's why we offer flexible repayment options. Our user-friendly loan management platform makes it easy for you to monitor your loan status, make payments, and stay on top of your financial journey.

EASY REPAYMENT OPTIONS: Our primary means of repayment is through automatic deduction, which is done by setting up a standing order from your bank. This way, you can ensure that your repayments are made on time, without having to lift a finger.

But we also understand that sometimes you may want to repay your loan earlier than scheduled. In that case, you can repay through cash or mobile money, allowing you to take control of your finances and pay off your loan at your own pace.

REPAYMENT TERMS: Our standard repayment term is 30 days, after which you'll need to repay the full loan amount plus 20% interest.

However, we also offer extended repayment terms of 2-6 months, with the following options:

- 2 months: Pay 20% interest in the first month, and the full loan amount in the second month.

- 3 months: Pay 20% interest in the first month, half the loan amount in the second month, and the remaining loan amount in the third month.

- 4-6 months: For loan repayments longer than 3 months, we charge 6% interest per installment. For example, if you borrow K2,000 and choose a 6-month repayment term, your monthly installment would be K453.50

CONVENIENT DISBURSEMENT OPTIONS: Our primary means of disbursement is through mobile money, which allows you to access your funds instantly. However, you also have the option to receive your funds through cash or direct transfer to your bank account, whichever is most convenient for you.

FAST AND EFFICIENT PROCESSING: We understand that you need your funds quickly. That's why we've streamlined our process to ensure that you receive your funds within 24 hours after completing the pre-approval process and setting up your standing order.

PLEASE NOTE: the processing time depends on how quickly you complete the pre-approval process, which includes job verification and standing order set up.

NO HIDDEN FEES: A one-time application fee of K200.00 is required, which can be paid upfront or deducted from your loan amount.

24/7 Support

Our team of experts is eager to provide support at any time, without having to wait for regular business hours.

Low Cost

We strive to offer the best rates in the market.

Libunge Loan Account

By creating an account with Libunge Loan, you'll become a registered user and unlock a world of convenience and flexibility. As a registered user, you'll be eligible to apply for a loan, monitor your loan status, access repayment schedules, view transactions, and make payments - all in one place.

Our Loan Products

Secure your dreams with our salary advance

Take Minimum K1,000.00
Take Maximum K15,000.00
Per Installment 20%
Installment Interval 30 Days
Total Installment 1

See All

FAQ

Frequently Asked Questions

This FAQ section aims to address common questions and concerns, providing clarity and transparency about the salary advance product, application process, and terms.

PROCEDURE FOR GETTING A SALARY ADVANCE :

PRE-APPLICATION:

1. Check eligibility: Ensure you meet the eligibility criteria (e.g employment status)

2. Gather required documents: Typically, Copy of NRC, Latest Bank Statement, Latest Pay Slip

IN-PERSON APPLICATION PROCESS:

1. Client visits branch and expresses interest in salary advance.

2. Client provides required documents:

- Copy of NRC

- Latest Bank Statement

- Latest Pay Slip

3. Loan Officer:

- Provides application form(it should include the loan agreement) and explains loan terms and conditions.

4. Client fills and submits application form.

5. Loan Officer requests:

- Client to set up a standing order from their bank

- Client to take pre-approval form to employer for job verification (signature and stamp)

6. Client returns:

- Executed standing order agreement form

- Signed and Stamped Pre-approval form

7. Loan Officer sends documents to Branch Manager for verification.

8. Branch Manager approves/disapproves loan.

9. Branch Manager authorizes loan disbursement.

ONLINE APPLICATION PROCESS:

1. Click on "Get started"

2. Client creates an account.

3. Client fills in online application form after reading the loan terms and conditions.

4. Client uploads required documents:

- Copy of NRC

- Latest Bank Statement

- Latest Pay Slip

5. Loan Officer sends email/text message requesting:

- Client to set up a standing order from their bank

- Client to take pre-approval form to employer for job verification (signature and stamp)

6. Client uploads:

- Executed standing order agreement form

- Signed and Stamped Pre-approval form

7. Loan Officer sends documents to Branch Manager for verification.

8. Branch Manager approves/disapproves loan.

9. Branch Manager authorizes loan disbursement.

IMPORTANT NOTICE TO ALL CLIENTS:

Please be advised that loan approval is strictly contingent upon receipt of all required documents. Incomplete applications will not be processed. Missing documents will result in delayed or rejected applications. No exceptions will be made.

REQUIRED DOCUMENTS:

1. Completed Application Form

2. Copy of National Registration Card (NRC)

3. Latest Bank Statement

4. Latest Pay Slip

5. Executed Standing Order Agreement Form

6. Pre-approval Form (signed and stamped by employer)

1. Application Fee: K200 (upfront or deducted from loan, mandated by Bank of Zambia)

2. Interest rate: 20%

3. Repayment Options: A client can choose either to repay the loan in a month, two months, or three months with the following conditions:

1. One Month: (20% interest) + (full loan)

2. Two Months:

Month 1: (20% interest)

Month 2:(full loan)

3. Three Months:

Month 1: (20% interest)

Month 2: (50% of outstanding balance)

Month 3: (remaining balance)

Key Considerations:

1. You are required to repay the full loan amount approved, plus interest. The application fee deduction does not reduce the loan amount payable. (Applicable to clients who requests for the application fee to be deducted from the loan)

2. Longer repayment periods for more than 3 months incur more interest.

3. Late payments may attract additional fees/penalties.

4. Review terms/conditions carefully

The clientele comprising civil servants typically consists of individuals employed in government agencies, ministries, and departments, who provide essential public services and administer government programs. This demographic often shares certain characteristics, including:

1. Stable employment: Civil servants generally enjoy job security and stability.

2. Regular income: They receive a steady salary, often with predictable increments.

3. Middle to upper-middle-class status: Civil servants typically hold positions with moderate to high earning potential.

4. Professionalism: They are expected to maintain high standards of integrity, ethics, and conduct.

5. Age range: Typically, civil servants span a wide age range, from young professionals to seasoned veterans.

6. Diverse roles: This clientele encompasses various professions, such as general workers, doctors and nurses, teachers, administrators, managers, analysts, and specialists.

GUIDE ON HOW TO SET UP A STANDING ORDER:

1. Visit your bank's branch.

2. Meet with a bank representative.

3. Request to set up a standing order.

4. Provide required information:

- Payee's name and account number.

- Payment amount and frequency (e.g., monthly).

- Payment duration (e.g., fixed term or ongoing).

- Start date.

5. Fill out the standing order form.

6. Review and sign the form.

7. Receive confirmation from the bank.

FEES AND CHARGES:

1. Check with your bank for any setup or maintenance fees.

2. Understand any potential charges for missed or late payments.

PLEASE NOTE: This process may vary depending on your bank's specific policies and procedures.

We implement robust measures to safeguard your data, including:

- Encryption of sensitive information

- Secure data centers and servers

- Access controls and authentication measures

- Regular security audits and testing

- Employee training on data handling and confidentiality

We do not share your personal information with third parties for marketing or other purposes without your explicit consent. We may share information with:

- Our service providers and partners (under confidentiality agreements)

- Regulatory authorities (as required by law)

- Credit reference agencies (for credit assessment purposes)

Yes, we take data security and privacy very seriously. Our website and systems are protected by industry-standard SSL encryption, firewalls, and intrusion detection systems. We comply with all relevant data protection regulations.

Our team

Senior Management Team

At Libunge Microfinance Limited, we are committed to providing our customers with efficient, reliable, and transparent financial services. Our salary advance solution is designed to support the financial well-being of civil servants, and we are dedicated to delivering exceptional customer experiences. We understand the importance of timely access to funds and are committed to processing applications quickly, while maintaining the highest standards of security and confidentiality. Our goal is to build long-term relationships with our customers, founded on trust, integrity, and mutual respect." — Timothy Siame — Board Chairperson

Blog Post