Loan Products
Simple, Transparent Lending — Two Ways to Borrow
DimeWell offers two carefully designed loan products to meet the needs of employed Zambians across both the public and private sector. Whether you need quick short-term cash or a larger long-term loan, we have a solution built for you.
All products feature competitive interest rates, flexible repayment terms, and no hidden fees. The total cost of credit is always disclosed before you submit your application. Use our loan calculator to see your estimated repayment before applying.
Short-Term Loan
Public & Private SectorQuick access to funds when you need them most. The Short-Term Loan is designed for emergency expenses, salary advances, and short-term cash needs. Interest is calculated monthly on your declining balance, meaning the faster you repay, the less interest you pay — making it one of the most cost-effective ways to borrow for short periods.
How It Works
Interest is charged each month on the remaining balance, not the original loan amount. As you repay, your balance decreases and so does the interest you pay. This is the most borrower-friendly calculation method for short-term borrowing and is the Zambian market standard for salary advances and emergency loans.
What You'll Need
- Recent Payslip
- Employment Letter
- National Registration Card (NRC)
- 6+ Months Employment
Long-Term Loan
Public & Private SectorDesigned for larger, planned expenses that you want to repay over a longer period. The Long-Term Loan uses a fixed monthly rate on your original principal with equal instalments throughout the term — giving you predictable, consistent payments every month. Ideal for education, medical expenses, property improvements, vehicle purchases, and business equipment.
How It Works
A fixed rate is applied to your original loan amount and spread equally across your chosen term. Your monthly instalment stays the same from the first payment to the last — making budgeting simple and predictable. An Insurance Fee (2%) and Arrangement Fee (5%) are deducted from the disbursed amount upfront — not added to your repayable balance. This is the Zambian market standard for longer-term salary-backed loans.
What You'll Need
- Recent Payslip
- Employment Letter
- National Registration Card (NRC)
- Bank Statement (3 Months)
- 6+ Months Employment
- Supporting Document (if applicable)*
* Depending on your loan purpose, you may be asked to provide an institution offer letter, hospital quotation, pro-forma invoice, property document, or equipment quotation.
General Eligibility Requirements
The following requirements apply to both Short-Term and Long-Term Loan products. Specific limits and terms are determined during the application process based on your verified salary, employment history, and credit assessment.
Public Sector Employees
- Minimum 6 months confirmed employment with a government ministry, statutory body, or local authority
- Minimum net salary of K2,500 per month
- Maximum debt-to-income ratio of 50% of net salary
- Employer must be listed in the DimeWell employer registry
Private Sector Employees
- Minimum 6 months confirmed employment with a registered company, NGO, school, hospital, or financial institution
- Minimum net salary of K3,000 per month
- Maximum debt-to-income ratio of 45% of net salary
- 3-month bank statement required for all applications
- Employer must be a verified registered company (Risk Rating B or above)
All applicants: Must not have an active DimeWell loan in default. Must not be on the DimeWell blacklist. An active loan and credit check is performed on every application. All documents are verified by a DimeWell Loan Officer before your application proceeds.
Product Comparison
| Feature | Short-Term Loan | Long-Term Loan |
|---|---|---|
| Term Range | 1 – 12 months | 12 – 60 months |
| Calculation Method |
Reducing Balance
Interest on declining balance |
Fixed Monthly Rate
Equal instalments throughout |
| Best For | Emergency expenses, salary advances, short-term cash needs |
Education, medical, property, vehicles, business equipment |
| Eligible Sectors | Public & Private | Public & Private |
| Bank Statement Required |
Optional
(Required for private sector) |
Required
3 months for all applicants |
| Fees Deducted Upfront | None |
Insurance Fee (2%) + Arrangement Fee (5%) |
| Supporting Documents | Not required |
May be required (invoice, quote, or offer letter) |
| Disbursement Time |
Within 24 Hours
Runs at 10:00 & 14:00 daily |
Within 24 Hours
Runs at 10:00 & 14:00 daily |
| Apply Now | Apply Now |
Transparent Pricing
Short-Term Loans use reducing-balance interest — you only pay interest on what you still owe. Long-Term Loans use a fixed monthly rate with fees deducted upfront, not added to your balance. The total cost of credit is always disclosed before you submit your application. No hidden charges.
Responsible Lending
Every application undergoes a thorough credit assessment including debt-to-income ratio calculation, employer risk evaluation, and employment verification. We lend responsibly to protect you from over-indebtedness and ensure your repayments are affordable.
Fast Disbursement
Approved loans are disbursed within 24 hours of approval. Disbursement runs twice daily at 10:00 and 14:00 — straight to your bank account or mobile money wallet. Employment is verified by our loan officers through document review — no waiting for HR departments.
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