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Bond income planner Zambia: a monthly bond salary

Official figures from 25 Sep 2026 · checked 12 Oct, 08:07

I want K a month from bonds.

Change details 5-year bonds · 15% tax
What do you want to know?

For one bond in detail (price, yield and maturity), use the bond calculator.

A month, after 15% tax

K2,000.00

from K188,486.61 in six 5-year bonds, K31,414.43 each

  1. Bond 1: buy at the 20 November auction pays May and Nov
  2. Bond 2: buy at the 18 December auction pays Jun and Dec
  3. Bond 3: buy in January 2027 pays Jul and Jan
  4. Bond 4: buy in February 2027 pays Aug and Feb
  5. Bond 5: buy in March 2027 pays Sep and Mar
  6. Bond 6: buy in April 2027 pays Oct and Apr

Coupon 14.98% a year, yield 14.98% at the latest auction (13 Feb 2026). Later auctions may differ. Income starts six months after the first purchase.

An estimate from the official figures shown below, not tax or financial advice. Check with the authority before you act on it. Report a wrong figure

K2,000.00 a month from K188,486.61 in six 5-year bonds Answer ↓

Figures used

Straight from the source

2-year bond coupon

12%

Bank of Zambia · 25 Sep 2026 ↗

5-year bond coupon

14.98%

Bank of Zambia · 13 Feb 2026 ↗

10-year bond coupon

16.6%

Bank of Zambia · 25 Sep 2026 ↗

Good to know

Questions people ask

What is a bond salary?

A government bond pays its coupon every six months. Buy six bonds a month apart and one of them pays every month, from six months after the first purchase until they mature.

Why six bonds?

Twelve months a year, each bond paying twice: six bonds cover every month.

Is the income taxed?

Yes. 15% withholding tax is taken from each coupon before it reaches you.

Will the next auctions pay the same coupon?

Not necessarily. Each auction sets its own price and yield, so the later bonds may pay a little more or less. This plan uses the latest auction for all six.

How do I buy?

Through a commercial bank or a licensed broker, before their deadline for each Bank of Zambia auction. You get the face value back when each bond matures.

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