It’s understandable that most civil servants are reluctant to submit their details to Zamloan for fear of extended loan deductions.
Even after recovering their principle and loan interest, some lending institutions may still keep deducting until you take action. But is there any chance that Zamloan will make illegal deductions from your bank account after paying then in full?
The short answer is no. Zamloan has no reports of making illegal deductions after you pay them back. Your financial information is completely safe with them
How safe is Zamloan?
Zamloan is an arm of BIU Capital which is one of the largest, most reputable finance institutions in East and Southern Africa. For all the years it’s been operating in Zambia, it has been fully compliant with the different regulation laid down by the Bank of Zambia, BoZ. There are up-to-date no publicly available violations and penalties against them.
This is the same entity that owns BIU Money and Zamcash so it’s a very reliable institution with a big reputation to preserve.
What if there is a glitch and Zamloan keeps deducting or comes back on my Payslip?
Although this has not been widely reported, it is possible only because no system is perfect 100 percent of the time. What’s important is that there’s a robust and reliable customer support system that will promptly sort the issue out.
I personally experienced this through someone close to me. Zamloan came back on her Payslip and made one deduction they were not supposed to. Everything is was cleaned up with just one phone call.
Let me reiterate that you can reasonably expect them not to make any illegal deductions. But, if by any chance it happens, this would most certainly be the result of a glitch and not systematic theft of your money. It will all be fixed by contacting the customer service numbers I have listed below.
Can I get a refund?
Sure. Everything that was illegally deducted from your account will be promptly refunded. It’s just a matter of contacting support on the lines below.
How to contact Zamloan for customer complaints
If you see deductions from your payslip from Zamloan that you believe are in error, you have several options of contacting them. You can use WhatsApp, Airtel, MTN, Zamtel, and there’s also a form you can fill in to submit your complaint.
Zamloan WhatsApp numbers
077 0460 009
096 2704 477
077 7915 095
096 2705 563
Zamloan Airtel numbers
097 4061 821
077 0460 009
Zamloan MTN numbers
096 7399 455
096 2705 563
Zamloan Zamtel numbers
095 6448 800
095 6448 833
If you click on ‘Feedback and complaints, you will get a form for your complaint submission.
While the form definitely works, I would not encourage you to use it for serious matters. Illegal loan deductions are best handled via WhatsApp or the other numbers given above.
Key takeaways
Zamloan will not make continue making deductions beyond your loan term. They will also not reappear on your payslip as some institutions do.
However, if you happen to experience such an anomaly, all you need to do is to contact customer care and your refund will be processed.
From my experience, Zamloan is fair, legit, and completely safe.