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Products on Offer

PSMFC Personal Loans





• This is our flagship product designed to enable public service workers access an affordable cash loan for personal    use.
• The minimum amount payable under the Personal Loan is K5,000.00 with a maximum of K50,000.00.
• The loan has a maximum tenure of 60 months, (or contract period for officers on contract or period remaining to    date of retirement or end of contract), with interest of 5% per annum.
• The personal loan is ONLY available to public service workers on PMEC payroll, with minimum service of 6 months    and are not facing disciplinary action
Download Application Form


Motor Vehicle Loan Scheme





• The Product is designed to enable public service workers access duty free brand new motor vehicles of their choice,    from motor vehicle dealers accredited with Public Service Micro Finance Company
• The maximum value of motor vehicle accessible depends on the applicants earnings i.e. ability to service the loan.
• Applications are approved and disbursed within the 21 days, which is the validity period of the quotation
• The loan has a maximum tenure of 84 months, (or contract period for officers on contract or period remaining to date    of retirement or end of contract), with interest of 15% per annum
• The product is available to all public services workers on PMEC payroll and employees of parastatal companies and    quasi-government Institutions who have MOUs with PSMFC, provided the employee is not facing disciplinary action.
• No Deposit required

Financing Options

Option 1: Based on take-home pay
   • Qualifying amount is computed based on the applicant’s take-home pay.

Option 2: Co-financing
   • Applicant uses qualifying amount from PSMFC computed based on take-home pay, plus funds from own sources

Option 3: Joint financing
   • A couple working for any qualifying institutions is allowed to jointly apply and finance one motor vehicle. Qualifying     amount is the sum of the couple’s individual qualifying amounts

Option 4: Full finance
   • Applicants are allowed to fully finance motor vehicle of their choice using own funds; PSMFC will charge an admin fee of     2% of the cost, or K2,000.00 whichever is higher with a maximum of K10,000.00

Motor Vehicle Registration and Insurance
• Motor vehicles acquired under the Scheme carry a Redbook and are registered with Ministry responsible for government     transport as absolute owner.
• The motor vehicle carries private registration and is not under the control of Controller of Government Transport
• A public service worker who acquires a motor vehicle under the Scheme is at liberty to use the motor vehicle for work and     personal use in any part of the country, provided permission needs to be sought for use outside Zambia
• Motor vehicles acquired under the Scheme should at all times during the loan tenor carry comprehensive insurance cover;     insurance for the first year is included as part of the loan

Replacement of motor vehicle
A public service worker who acquires a motor vehicle under the Scheme will be eligible to access another motor vehicle under the following circumstance:
• When the motor vehicles reach 5 years or 150,000 KM, whichever is earlier;
• When the motor vehicle is involved in an accident and is declared uneconomical to repair and is written off

Duty Paid Motor Vehicles
• Public service worker who acquires a motor vehicle under the Scheme, can still access another unit before the motor    vehicle reaches 5 years or 150,000 KM, whichever is earlier or when the motor vehicle is involved in an accident and is    declared uneconomical to repair and is written off, provided the unit shall be financed with all applicable taxes
• Interest will still be 15% amortized over the term of the loan

List of accredited motor vehicle dealers
Download Application Form

PSMFC Short Term Cash Solution





• This product is designed to help public service workers access to affordable cash for immediate short term financial needs    such as school fees, medical expenses etc
• The minimum amount payable is K1,000.00, with a maximum of K150,000.
• Applications are approved and disbursed within 48 working hours of date of receipt.
• The loan has a maximum tenure of 6 months, (or period remaining to end of contract for officers on contract or period    remaining to date of retirement or end of contract), with simple interest of 10%.
• The product is available to all public services workers on PMEC payroll and employees of parastatal companies and    quasigovernment Institutions who have MOUs with PSMFC, provided the employee is not facing disciplinary action.
Download Application Form

Public Service Agricultural Asset Scheme





• The Product is designed to enable public service workers access Agricultural Assets, from dealers accredited with PSMFC to    mechanise their farming activities
• The maximum value of agricultural assets accessible depends on the applicants earnings i.e. ability to service the loan    subject to 40% take-home pay threshold.
• Applications are approved and disbursed within the 21 days, which is the validity period of the quotation
• The loan has a maximum tenure of 84 months, (or contract period for officers on contract or period remaining to date of    retirement or end of contract), with interest of 15% per annum
• The product is available to all public services workers on PMEC payroll and employees of parastatal companies and quasi-    government Institutions who have MOUs with PSMFC, provided the employee is not facing disciplinary action.

Exclusions
• The product excludes financing for acquisition of land, livestock, drilling of boreholes and digging of fish ponds

Financing options
Option 1: Based on take-home pay
• Qualifying amount is computed based on the applicant’s take-home pay.

Option 2: Co-financing
• Applicant uses qualifying amount from PSMFC computed based on take-home pay, plus funds from own sources

Option 3: Joint financing
• Up to a maximum of four (4) public service workers working for any qualifying institutions are allowed to jointly apply and    finance agricultural assets. Qualifying amount is the sum of the individual qualifying amounts

List of accredited agricultural assets dealers
Download Application Form

PSMFC Bring Your Own Device (BYOD)





• The Product is designed to enable public service workers acquire ICT equipment/devices from dealers of ICT    equipment/devices accredited with PSMFC to enable them perform their duty remotely (away from their usual office    environment) and, for other personal use.
• Items financed under BYOD include laptop computers, desktop computers, printers, smartphones, cameras, paper    shredders and accessories such as external hard drives and routers.
• The loan has a maximum tenure of 36 months, (or contract period for officers on contract or period remaining to date of    retirement or end of contract), with interest of 15%.
• The product is available to all public services workers on PMEC payroll and employees of parastatal companies and quasi-   government Institutions who have MOUs with PSMFC, provided the employee is not facing disciplinary action.
List of accredited Bring Your Own Device (BYOD) dealers
Download Application Form

PSMFC Building Material Loan





• The product is designed to enable public service workers acquire building materials from dealers of building materials    accredited with PSMFC to enable them construct affordable houses anywhere in the Country through the acquisition of    various types of building materials.
• The maximum value of building materials accessible depends on the applicants earnings i.e. ability to service the loan    subject to 40% take-home pay threshold.
• Items financed under the PSMFC Building Materials Loan exclude the acquisition of land, aggregates and water.
• The loan has a maximum tenure of 48 months (or contract period for officers on contract or period remaining to date of    retirement or end of contract), with interest of 15%.
• The product is available to all public services workers on PMEC payroll and employees of parastatal companies and quasi-   government Institutions who have MOUs with PSMFC, provided the employee is not facing disciplinary action.

List of accredited building materials dealers
Download Application Form

PSMFC Household Furniture Loan





• The product is designed to enable public service workers acquire household furniture of their choice from dealers of    household furniture accredited with PSMFC.
• The maximum value of household furniture accessible depends on the applicants earnings i.e. ability to service the loan    subject to 40% take-home pay threshold.
• The loan has a maximum tenure of 60 months (or contract period for officers on contract or period remaining to date of    retirement or end of contract), with interest of 15%.
• The product is available to all public services workers on PMEC payroll and employees of parastatal companies and quasi-   government Institutions who have MOUs with PSMFC, provided the employee is not facing disciplinary action.
Download Application Form