Terms of Service
Effective date:
1. About ExaktPay
ExaktPay is a licensed Money Lender operating under the Moneylenders Act, Cap 398 of the Laws of Zambia. These Terms of Service govern your use of our website and lending services. By applying for a loan or using our services, you agree to these terms.
2. Eligibility
To apply for a loan with ExaktPay, you must: be at least 18 years of age; be a resident of Zambia; have verifiable income; and provide valid identification. ExaktPay reserves the right to decline any application that does not meet our lending criteria.
3. Loan Agreement
All loans are subject to a separate Loan Agreement which will be provided to you before disbursement. The Loan Agreement will set out the principal amount, interest rate, repayment schedule, fees, and all other material terms. You must read and sign the Loan Agreement before funds are released.
4. Interest & Fees
Interest rates and any applicable fees will be clearly disclosed in your Loan Agreement before you sign. ExaktPay does not charge hidden fees. All costs are disclosed upfront in accordance with the Moneylenders Act, Cap 398.
5. Repayment
You are required to repay your loan in accordance with the repayment schedule set out in your Loan Agreement. Failure to make payments on time may result in additional charges, adverse credit reporting, and legal action as permitted by Zambian law.
6. No Deposit-Taking
ExaktPay does not accept deposits. We are not a bank and do not offer savings or current accounts. We provide credit only, as authorised under the Moneylenders Act, Cap 398.
7. Accuracy of Information
You warrant that all information provided in your loan application is accurate, complete, and not misleading. Providing false information is a serious offence and may result in immediate termination of your loan and referral to relevant authorities.
8. Governing Law
These Terms of Service are governed by the laws of the Republic of Zambia. Any disputes arising from these terms shall be subject to the jurisdiction of the courts of Zambia.
9. Amendments
ExaktPay reserves the right to amend these Terms of Service at any time. Updated terms will be posted on this page. Continued use of our services after changes constitutes acceptance of the revised terms.
10. Contact
For any queries regarding these Terms of Service, please contact us via the Contact page on this website.