Committee on 20th November 2019 announced the upward adjustment of the Monetary Policy Rate (MPR) from 10.25% to 11.50%.
Following this adjustment, Atlas Mara Zambia would like to notify all its customers that the interest rates on all existing and new loans linked to the Monetary Policy Rate will be increased by 1.25% with effect from 1st December 2019.
Further, we wish to advise that no interest rate is applied on Salary Advance facilities and therefore this change will not impact your Salary Advance facility.
For existing personal loans, this change in interest rate will result in either an increase in monthly loan repayments or the remaining tenure of the loan. Atlas Mara Zambia hereby requests all customers to confirm their preferred option by calling 202 or by sending an e-mail to zm-customerfeedback@bancabc.com.
Should we not receive an instruction from you on or before 30th November 2019, the Bank will proceed to increase the tenor on your loan. Customers who will prefer a different option can still engage the Bank to review alternate options via the contact details provided above. For Relationship Managed customers, you may contact your Relationship Manager for any clarification.
Please click here to download PDF version of this notice.