Frequently Asked Questions

• 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.zm

• Where 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 turn around 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