Terms & Conditions

1. Agreement

2. Loan Terms

2.1 Interest Rate

• All loans carry a fixed interest rate of 5% per month
• Interest is calculated on the outstanding principal balance
• No compound interest is charged
• Interest rates are subject to regulatory approval and may change for new loans

2.2 Repayment Terms

• Monthly payments are due on the 1st of each month
• Repayment periods range from 1 to 6 months depending on loan type
• Emergency loans have a maximum repayment period of 3 months
• Early repayment is allowed without penalties

2.3 Loan Amounts

3. Eligibility Requirements

To qualify for a loan, you must:

• Be at least 18 years of age
• Be a Zambian citizen or permanent resident
• Possess a valid National Registration Card (NRC)
• Have a verifiable source of income
• Provide adequate collateral or guarantor
• Have no outstanding defaults with other lending institutions
• Meet our creditworthiness assessment criteria

4. Application Process

4.1 Application Submission

• Applications must be completed in full with accurate information
• All required documents must be provided
• False or misleading information will result in automatic rejection
• We reserve the right to verify all information provided

4.2 Approval Process

• Applications are reviewed within 24 hours
• We may request additional information or documentation
• Approval is subject to creditworthiness assessment
• We reserve the right to approve, reject, or modify loan terms

5. Collateral and Security

5.1 Collateral Requirements

• All loans require adequate security in the form of collateral or guarantor
• Collateral value must be sufficient to cover the loan amount
• We reserve the right to revalue collateral during the loan term
• Collateral remains with the borrower but is legally charged to PrimeTrust

5.2 Guarantor Requirements

• Guarantors must be creditworthy individuals
• Guarantors are jointly liable for loan repayment
• Guarantor consent must be obtained in writing
• We may pursue guarantors for debt recovery if necessary

6. Default and Recovery

6.1 Default Events

You will be in default if:

• You fail to make any payment when due
• You provide false or misleading information
• You become insolvent or bankrupt
• You breach any other term of this agreement

6.2 Recovery Actions

7. Fees and Charges

7.1 Applicable Charges

• Monthly interest: 5% of outstanding principal
• Late payment fee: ZMW 50 per missed payment (after 7-day grace period)
• Legal fees: Actual costs incurred in debt recovery (if applicable)
• Valuation fees: Actual costs for collateral valuation (if required)

8. Privacy and Data Protection

8.1 Information Collection

• We collect personal and financial information for loan assessment
• Information is used solely for lending purposes
• We may share information with credit reference agencies
• Your information is protected in accordance with Zambian data protection laws

8.2 Information Security

• We maintain strict security measures to protect your information
• Access to information is limited to authorized personnel only
• We do not sell or share information with third parties for marketing purposes
• You have the right to access and correct your personal information

9. Regulatory Compliance

• Licensed under the Banking and Financial Services Act
• Compliant with Consumer Protection Guidelines
• Adherent to Fair Lending Practices
• Subject to regular regulatory supervision

10. Governing Law

11. Contact Information