TEACHERS GAIN ACCESS TO K300,000 LOAN FACILITY

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Posted by admin on June 9, 2026 at 4:38 AM

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Teachers across Zambia can now access loans of up to K300,000, payable over five years, following the Teaching Council of Zambia (TCZ)’s revision of its loan scheme.

Previously, educators were entitled to loans of up to K50,000, repayable within one year. The revised terms increase the maximum threshold sixfold, extend repayment to five years, and set interest at 15 percent.

TCZ Registrar, Dr. Ebby Mubanga, said the new arrangement will consider employment tenure and retirement factors when determining loan amounts.

“The initiative has so far helped teachers to address pressing needs, invest in personal development, and improve their quality of life. The revised facility is aimed at empowering teachers with affordable financing to meet personal needs, invest in self-development, and improve their quality of life,” Dr. Mubanga stated.

He explained that while the scheme initially targeted educators in rural districts, it will now be expanded to eligible teachers nationwide. Despite the increase in the loan threshold, the facility will continue offering one of the most competitive interest rates on the market.

The loan application process remains unchanged, requiring employment verification, affordability assessment, and identity verification before approval.

Teachers are encouraged to seek further information from the TCZ secretariat, regional offices, and official communication channels.