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Loans

Xtenda offers payroll-backed loans to government and quasi-government employees, ranging from K500 to K250,000, with repayment periods of 1 to 72 months. While these loans are backed by salaries, they also support Micro, Small, and Medium Enterprises (MSMEs) that lack collateral but can use their salaries to access financing for business growth. We also provide salary advance loans, known as ‘Ka Bwangu Bwangu’, of up to ZMW 10,000, disbursed within 24 hours and repayable over a maximum of 6 months. Additionally, Xtenda has partnered with trusted suppliers to finance the purchase of essential products, including:

  • Agricultural equipment and inputs
  • Building materials
  • Household goods and electronics
  • Gas stoves and solar products

Our Unique Value Proposition

Get What You Apply For - Clients receive the full loan amount they apply for.

Funeral Cover - Xtenda provides up to K20,000 as a last expense payout to the beneficiary of a deceased client.

Product Financing - Loans are available specifically for purchasing products or assets through our product finance facility.

Fixed Interest Rates - Unlike banks, our interest rates remain fixed, ensuring repayment terms don’t change.

Credit Cover - If a client passes away after servicing their loan for six months, insurance covers the outstanding balance.

Free Financial Literacy - We offer financial education programs to promote responsible borrowing.

General loan criteria:

The criteria for granting financial assistance is subject to a range of supporting documentation being made available (only original documents will be accepted).

A client must have:

  • Been employed for between 3 and 6 months with current employer
  • Attained the age of 18
  • A valid ID document
  • A valid employer personalized ID card
  • Latest payslip
  • Latest bank statement
  • Proof of residence
  • Employer pre-approval forms
  • Photograph

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Social impact

Xtenda Financial Holdings Limited as a group is very conscious of its social responsibilities towards its clients. With this, financial assistance is limited by a monthly instalment that is expressed as a percentage of the employee’s salary where the percentage is regulated by government. This ensures that an employee’s take home salary is sufficient to provide for basic necessities. These conditions may be negotiable, however all amendments from the normal terms and conditions must carry the approval of both Government and Xtenda.

Repayment

The financial cost of the loan facility can only be made possible by reducing the risk attached to the loan and this requires the cooperation of the employer. All financial assistance granted will be paid in equal monthly instalments generated from a salary deduction authorization granted by the employer. The employer is not required to stand as a guarantor for the loans advanced to employees, only to deduct the monthly instalments payable from each employee’s salary prior to the salary being paid into the employee’s bank account. The deductions will then be paid directly to Xtenda on a monthly basis.

Processing time

Depending on the country’s banking system, the processing of loan applications normally takes between 12 and 48 hours for the funds to be disbursed and credited to the client’s bank account.

In summary

In summary, Xtenda Financial Holdings Limited strives to give all employers comfort that we are long term players offering retail financial products and services to all employees, but particularly those that have no access to the formal banking sector. This is undertaken with the utmost integrity together with fair and transparent pricing with a focus on long term relationships with employers who seek to support an improved lifestyle for all their employees.