Personal Banking › Loans

Pay Day Loan

An advance given to salaried employees to be repaid on the next salary date. Unsecured with zero interest and fast processing, ideal for immediate financial needs.

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Loan Details

Interest Rate

Zero Interest Rate

Minimum Limit

K30,000

Maximum Limit

K3,000,000

Security

Unsecured

Income Ratio Limit

40% of Disposable Net Salary

Repayment

Next Salary Date

Cost to Access Facility

As per current tariffs

Processing Fee

Depending on Loan Amount

Requirements to Access the Loan

Valid National ID
At least 3 latest salary transactions in the system
Salary processed through NBS Bank account

Clean CRB report
Account to operate for 6 months

How to Access

In-Branch
Internet Banking
Mobile App

Complaints Handling

Call Centre — 322
Walk-in Branch
Emails

Pay Day Loan FAQs

Everything you need to know about NBS Bank's Kachangu Pay Day Loan, a zero-interest digital advance

The Kachangu Pay Day Loan is a digital advance given to salaried employees to be repaid on the next salary date. It is designed to help customers meet short-term financial emergencies within the course of the month without resorting to loan sharks. The loan is acquired online through NBS Bank digital platforms, allowing customers to apply from home, office, or anywhere with zero paperwork required. Funds are disbursed instantly with a minimum processing time of less than 10 minutes.

The Kachangu Pay Day Loan features a zero interest rate, making it an affordable option for short-term borrowing. However, processing fees apply based on the loan amount. For loans below MK100,000, a processing fee of MK7,000 is charged. For loans of MK100,000 and above, the processing fee is 4% of the loan amount, with a minimum charge of MK12,000.

Your loan limit is calculated as 40% of your disposable net monthly salary, after deducting all existing monthly loan commitments. The minimum loan amount is MK30,000, and the maximum is MK3,000,000. This ensures that your repayment remains manageable relative to your income.

To qualify for the Kachangu Pay Day Loan, you must have a salary account with NBS Bank where your salary is processed. Your account must have been operational for at least 6 months, with a record of at least 3 latest salary transactions in the system. You will also need a clean Credit Reference Bureau (CRB) report and a valid National ID. Additionally, your employer must be enrolled on the NBS Employers Portal scheme.

To encourage responsible borrowing, the Kachangu Pay Day Loan has a usage limit. Customers can access this loan facility a maximum of nine times within a single year. This measure helps prevent abuse of the system while ensuring the loan remains available for genuine emergency needs.

The Kachangu Pay Day Loan is an unsecured facility, meaning no collateral or security is required. Approval is supported by your salary transaction history with the bank and your clean CRB status. This makes it a convenient and accessible option for salaried employees who need quick access to funds without pledging assets.