Registered microfinance institution· RBZ-MFI-2024-017
The process
Five steps, about ten minutes of your time, and a decision usually the same working day. Applying is free, and you can walk away at any point before you accept a schedule.
Step by step
01
About 2 minutes
Register with your full name, a mobile number that can receive SMS, and your national ID number. There is no charge to open an account and no obligation to borrow.
02
About 5 minutes
Upload a photo of your national ID and proof of residence, plus proof of income appropriate to the product — payslips if you are employed, trading records if you are not.
03
About 3 minutes
Choose a product, an amount and a term. Your available limit is shown before you submit, and the full repayment schedule is generated for you to review before you accept anything.
04
Usually the same working day
Your application reaches a loan officer immediately. Most are reviewed the same working day. Once approved, funds are disbursed and your schedule becomes active.
05
Over your loan term
Repay by bank transfer or in cash at our Harare office. SMS reminders go out before each installment. Every settled installment raises your trust score and your future limit.
Before you start
Requirements are set at institution level, so they are the same whichever product you apply for. The only thing that changes is what counts as proof of income.
Exact requirements per product are listed on each loan product page.
FAQ
From registering to a decision is typically the same working day, provided your documents are clear and your income is verifiable. Registration and KYC take about ten minutes of your time in total; the rest is our review.
No. The entire process — registration, document upload, application, approval and your repayment schedule — happens online from your phone. Our Harare office exists if you prefer to come in, but nothing requires it.
We tell you why. In most cases it is something specific and fixable — income that could not be verified, an unclear document, or an amount too large for a first loan. You are welcome to apply again once it is addressed.
Applying is free and carries no penalty. Your Alector trust score is built from settled installments, not from applications — so submitting one and being declined does not count against you.
You review the full repayment schedule before you accept it, and you can decline at that point at no cost. Once funds are disbursed the agreement is live, so read the schedule carefully before accepting.
Keep reading
Four products with published rates and terms, plus guides for school fees and equipment finance.
Read moreWork out an indicative installment for any amount and term before you apply.
Read moreWhat each product costs, when charges apply, and what happens if you fall behind.
Read moreOpening an account takes a couple of minutes, and you will see your starting limit before you borrow anything.
Free to apply · No hidden fees · Most applications reviewed the same working day
+263 242 700 145 · Free to apply · No hidden fees