KulaPlus

KulaPlus is a mobile application that allows you to quickly apply for a loan for your everyday needs. We operate in full compliance with the regulatory requirements of Zambia.

How it works:
1. Install the app on your smartphone;
2. Complete a quick and simple registration;
3. Choose your loan amount;
4. Submit your application and receive a decision in minutes.

Requirements:
• Age: 21–71 years old
• A valid NRC number (ID).

Product Description:
• Loan amount: K 100 – K 1,000
• Loan term: Minimum 61 days, maximum 90 days (inclusive of all loan extensions)
• Maximum annual percentage rate (APR): 541% (inclusive of daily interest, initiation fee, and daily service fees)

Fees:
• Initiation fee — charged once, on activation: 5% of the loan amount.
• Service fee — K 2 per day, charged for the full loan term (including any extensions).
• Interest
Interest is calculated at the applicable daily rate and displayed in the pre-agreement calculation.
Interest amount = loan amount × daily interest rate × term
Daily interest rate: 1.2% (438% per annum)

Example (first loan):
• Loan amount (Disbursement): K 1,000
• Term: 75 days
• Daily rate: 1.2% = 0.012
• Interest = 1,000 × 0.012 × 75 = K 900
• Initiation fee (5%) = K 50
• Service fee = 2 × 75 = K 150
• Total repayable: K 2,100
• APR for this transaction: 535.3%

Example (repeat loan):
• Loan amount (Disbursement): K 1,000
• Term: 90 days
• Daily rate: 1.2% = 0.012
• Interest = 1,000 × 0.012 × 90 = K 1,080
• Initiation fee (5%) = K 50
• Service fee = 2 × 90 = K 180
• Total repayable: K 2,310
• APR for this transaction: 531.3%

Legal Information:
KulaPlus Loans Ltd is a private company duly incorporated and registered under the laws of the Republic of Zambia, with company registration number 120251034982, holding Money Lender Licence No. 0002771.
KulaPlus complies with all applicable Zambian credit regulations and responsible lending practices.
Always study the terms and conditions and the disclosure statements before proceeding with any transaction.

Contact Us:
For any questions, feedback, or hesitations, please contact us via the following methods:
• Website: https://kulaplus.co.zm/credit-online/
• Phone: +260 97 126 4800
• Email: [email protected]
• Address: DG OFFICE PARK, 1 CHILA ROAD, KABULONGA, LUSAKA