Loans FAQs
How soon after joining CareCoop can I apply for a loan?
A member must save for at least 1 month before applying for a loan.Can I submit my loan application online?
You can submit your completed Emergency loan to emergencyloan@carecoop.co.zm; all other loan applications can be submitted to carecoop.loanapp@carecoop.co.zmWhere can I find the loan application forms?
The application forms are available on the website under the Downloads tab.Does an NRC copy have to be attached to the loan application?
Yes, this is needed for registration with the Credit Life policy underwritten by Hollard Life.Can I have more than one loan running?
Yes, provided your savings meets the 20% threshold and your Net pay allows.Can I top up on my existing loan?
Yes, provided your savings meets the 20% requirement for the new loan amount applied for. You will need to fill in an offset form as you submit your refinance application.Can I pay off my loan before the end of the loan tenure?
Yes, you may offset your loan from your savings or cash deposit after the first deduction by filling in a Loan offset form and submitting to info@carecoop.co.zm. The loan offset form must be submitted before the 5th of every month to be considered for payroll amendments.How long does it take for my loan to be approved?
Our turnaround times are as follows:
- Emergency Loan – Two (2) Working Days
- Other Loans up to ZMW 50,000 - Five (5) Working Days
- Other Loans Above ZMW 50,000 - Ten (10) Working Days
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