Avofin Financial Services

Do you have Question?

Please read the questions below and if you cannot find your answer, please send us your question,
we will answer you as soon as possible.

General FAQs
What does Avofin do?

Avofin offers easy, fast, accessible, and affordable financial solutions that can be accessed online through our website, through mobile and USSD applications.

How do I contact you?

Second Floor, Suit 4 Office Block 2, Plot No.7732, ECL Office Park Freedom Avenue, Parklands, Kitwe – Copperbelt Province, Zambia.
Tel: +260 766394504/ +260 776357035

What are your working hours?

We are open Monday to Friday from 08:00 to 17:00hrs weekdays only.

There is no branch in my town; how can I access your products and services?

Fortunately, with Avofin, you can apply online (through our website), our Mobile or USSD Application.

When will you open a branch in my town?

We will continue to expand our footprint across the country and hope to be operational in a location near you soon to serve you better. Please follow us on Facebook, LinkedIn, twitter and Instagram to stay up to date with the latest developments from Avofin.

Are you recruiting?

YES! we are.

Do you have what it takes to join our vibrant, multi-cultural and dynamic team? We have a number of vacancies, but kindly send an email to hr@avofin.io  for any employment related queries.

Please visit our website for more details.

Loan FAQs
How does Avofin work?

We offer loans between K100 and K2,000.
These are cash advances (Payday Loans) which are up to one-month duration (30 days).
Loan approval is subject to affordability on your pay slip, credit score from the Credit reference bureau (Transunion).

What are the requirements for obtaining a loan?

Requirements and eligibility are as follows:

  • 21 years old and above
  • Have a valid original NRC/Driver’s license or Passport
  • Be in full employment with an active bank account or in business for not less than 12 months.
  • Holder of a registered mobile phone number
What documents do you require from me?
  1. Formal employment:

Valid ID (NRC, passport or driving license)

Latest payslip (stamped)

Bank statement for the last 1 month

Letter of introduction from employer (on headed paper)

  1. Informal sector/business

Valid ID (NRC, passport or driving license)

Bank statement for the last 3 month or mobile money account statement for last three months

I do not have one of the required documents, can you make an exception?

Unfortunately, as our loans are unsecured, we require all the minimum documentation as set out on the list of requirements for eligibility.

Can I apply for a loan even if I do not have utility bills in my name/I do not pay utility bills?

As our loans are unsecured, utility bills are not a mandatory requirement for your loan application to be processed. In the absence of utility bills that bear your names, the employer can include the client’s residential address in the letter of introduction.

How long does it take to process a loan?

We aim to process your loan within 30 minutes. You get your money same day when you need it!

What is the interest rate on your loans?

The monthly interest rate for cash advances (payday loans) is 22% but this is reduced to a daily rate if you decide to pay back in less than a month.

Do you give loans to business people or start up entrepreneurs?

Yes we do, our target market is those who are in employment and business people. However, we do not provide loans to start-ups nor students. This is because our loans are unsecured (no collateral required) and our loan administration and loan recovery procedures are designed for this purpose. We require a history of trading or income.

Do you give loans to unemployed people or students?

Unfortunately, our target market is those who are in employment or in business. This is because our loans are unsecured and our loan administration and loan recovery procedures are designed for this purpose. We require a history of trading or income.

How are the payments made?

The deductions are made from the salary on every pay date. This may be done by your employer if we have a memorandum of Understanding (MOU) or by the bank on our behalf through direct debit mandate.

What if I am unable to pay, what should I do?

If you cannot pay off the entire loan on your next payday, but can only make the payment after, we can offer you a PayLater facility.

Are there any other costs I should know about apart from the interest rates?

There are no additional costs apart from the interest rates. Transparency is of utmost importance to us for our customers. No hidden fees, no upfront costs!


    Download the Avofin Mobile App