Repay each month, for 3 months
K2,166.67
K6,500.00 in total for K5,000.00 borrowed
Quoted as 10% a month (120% a year), its true cost is 400.4% a year: 14.36% a month on the money you actually have.
Microloan
Zambia · TapTip Tools
No. FE857E
13 Oct 2026 01:13
Microloan of K5,000.00 over 3 months
K2,166.67
a month
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taptiptools.com/zambia/microloan-calculator
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
Good to know
Interest charged on the whole amount you borrowed, every month, even as you pay it back. K5,000 at 10% a month flat for 3 months is K500 × 3 = K1,500 interest: K6,500 in total, K2,166.67 a month.
Because a flat rate keeps charging on money you have already paid back, and a monthly rate compounds over a year. The true cost is the rate at which what you actually received grows into what you repay.
You receive less but repay on the full amount. A 5% fee on K5,000 means K4,750 in your hand, while the repayments stay the same, so the true cost goes up.
Ask for the total you will repay, every fee, and what happens if you pay late, in writing. Compare that total, not the rate, between lenders.
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