(the “Terms and Conditions”)


1.1. “Customer” means the person to whom the Mobile Money account belongs to and includes all his personal or legal representatives and assigns
1.2. “Due Date” means the date communicated by the Bank by which the loan repayment falls due;
1.3. “Interest” means the price of loan calculated periodically, starting from the moment of loan disbursement, and charged to the customer at the moment of the loan repayment;
1.4. “Loan amount” means the volume of the cash that is lent to the Customer and disbursed to his account;
1.5. “Mobile Money Account” means MTN Mobile Money Wallet or Account;
1.6. “Mobile Money Account Usage Data” means the transactional data as produced from the Customer’s interaction with the MTN Mobile Money Wallet or Account;
1.7. “MTN” means the Network Operator named MTN Zambia which assists the Bank in the provision of the Service, in accordance with Clause 2.4 of the Terms and Conditions;
1.8. “Network” means the mobile network operated by MTN Zambia
1.9. “Personal Data” shall have the meaning of the definition as per data protection laws in Zambia
1.10 “Privacy Policy” shall mean the Bank’s privacy policy which is available at [link to be inserted or Annexure]
1.11. “Overdue interest” means the amount charged to the Customer in case of failing to meet the Due date of repayment
1.12. “Service(s) or Xtracash” means the provision of Micro Credit Loan services to Mobile wallet holders via a platform;
1.13. “Setup Fee” means the fee calculated for the provision of the Service at the moment of loan disbursement and charged at the moment of the loan repayment;
1.14. “Term” means time within which Customer agrees to repay loan;
1.15. “The Bank” means Access Bank Zambia.


2.1.  XtraCash is available to Customers holding a Mobile Money Account.
2.2.  By subscribing to the Service, the Customer consents to the Terms and Conditions set out herein and the Privacy Policy.
2.3. Consent of the Customer shall commence upon an application/subscription for the Service and shall subsist throughout the period of subscription to the Service and shall only be vitiated by a written instruction from the Customer.
2.4.  For all intents and purposes, by subscribing to the Service and in the course of each transaction carried out under the Service, Customer unequivocally gives consent to the Bank and to MTN to collect, process (including profiling), share with third parties and with each other his/her personal data at any time for the purpose of providing, improving or upgrading the Service or the platform upon which the Service is hosted on the one hand and/or analyzing or assessing the credit viability or otherwise of his/her subscription.
2.5.  Personal Data includes and shall not be limited to Customer’s KYC (such as Date of birth, ID type, ID number, gender, home address, MSISDN), airtime usage and/or Customer’s Mobile Money Account Usage. The Customer further consents to have his/her credit data processed by third parties and listed on the Credit Reference Bureau and acknowledges that an unpaid loan, listed as such, shall result in the retention of this information on the Bureau for a period of 7 years from the date of listing.
2.6.  An applicant for a loan under the Service must be eighteen (18) years old or over to qualify for a loan.
2.7.  To request the Service, Customer needs to dial *303# and select the option “Kongola and Savings”, then “Kongola” and then “XtraCash loan”.
2.8.  Customer may accept or decline the loan offer by following the instructions on the menu.
2.9.  Subject to approval of a loan application, Customer will be disbursed a loan of an amount to be determined by the Bank at its sole discretion.
2.10.  Upon loan application approval, the loan shall be disbursed directly into Customer’s Mobile Money Account.
2.11.  The Bank reserves the right without assigning any reason to approve or decline any loan application.
2.12.  In case of a loan application approval, Customer will receive an SMS confirming:

2.12.1. the Loan Amount;
2.12.2. the Setup fee;
2.12.3. the Due Date.

2.13.  Customer shall repay the loan by the due date communicated at the time of the loan disbursement.
2.14.  The loan amount along with all fees and interests are automatically deducted from Customer’s Mobile Money account on the loan due date. Any outstanding amount that remains unpaid shall be deducted from funds deposited in Customer’s account until the full loan balance is repaid.
2.15.  By accepting the terms & conditions of the service, the Customer hereby authorizes the Bank to automatically debit his Mobile Money account to repay any outstanding debt.
2.16.  The Customer may choose to pay the Loan Amount on or before the due date by using the “Repay loan” option within the “XtraCash Loans” menu. In this event, the following fees will be charged, as per MTN’s policy available at [hyperlink]
2.17.  Customer shall repay the whole amount due (loan principal, fees and interest) using the Mobile Money Account
2.18.  In the event that the Loan is not repaid in full within the term communicated during the application process and upon loan approval, a grace period may be provided, but it is not mandatory.
2.19.  After the aforementioned grace period, if it takes place or in any other case after the term of repayment as communicated upon loan approval, any outstanding amount shall automatically be rolled over. The Overdue interest will be applied as communicated during the loan application process. Applicable fees and interests shall be communicated to the Customer additionally via SMS.
2.20.  In case the loan is not fully repaid after ninety (90) calendar days from the due date:

2.20.1. the Customer is notified by SMS that he/she in delinquency state;
2.20.2. the Customer is reported as a defaulter to the the national Credit Bureaus;
2.20.3. Legal action may be taken to recover any outstanding amounts from the Customer;
2.20.4. Customer accepts that any debt may be recovered and off-set from his other bank accounts, deposits or digital wallets.


3.1. Customer acknowledges to have no claim against the Bank or the Bank’s service providers for damages resulting from losses, delays, misunderstandings, duplications or any other irregularities in connection with the loan application or the use of a XtraCash loan.


4.1. By using the service, Customer unequivocally gives consent and authorizes the Bank to record, process and disclose his personal information/data to third party providers and competent authorities including but not limited to government agencies, the Central Bank, credit bureaus and other financial institutions for application assessment and fraud prevention.
4.2.  Any addition or alteration to these Terms and Conditions may be made from time to time by the Bank and of which notice has been given to the Customer by way of publication shall be binding, as if the same were contained in these Terms and Conditions or in the Privacy Policy. Customers are required to check the Terms and Conditions and the Privacy Policy before taking each loan.
4.3.  Customer consents to, and authorizes the Bank and its service providers to communicate the following to the Customer: Customer’s transactional activity, service messages, and offers for products or services via SMS.
4.4.  The Bank has no liability for transactions which are incorrect as a result of inaccurate data entry in the course of the use of the Service or for loss of data or information caused by factors beyond its control.
4.5.  By using the Service, the Customer agrees to the above mentioned terms and the security practices, policies and procedures as mentioned in the Privacy Policy.
4.6 The Customer has certain rights by law that cannot be limited by a contract like these Terms and Conditions, which in no way intend to restrict those rights.

4.6.1 In case of any grievance please be guided by the Privacy Policy or contact our Privacy Department with any questions or concerns at [Bank’s DPO email] or at [Bank’s physical address]


5.1. Customer agrees that all matters relating to his access to or use of the Service shall be governed in accordance with the Laws of the Republic of Zambia.