Updated September 28, 2026 · BorrowCue Editorial Team
Izwe Zambia vs Nykredit
Izwe Zambia vs Nykredit: the differences
| Compare |  Izwe Zambia |  Nykredit |
|---|---|---|
| Term | 60 months | 120 monthsHigher |
| Arrangement fee | 0 ZMW | 0 DKK |
| Rate type | Fixed | Variable |
| Free early repayment | No | YesHas it |
| Eligibility | Permanently employed Zambian government employees, Zambia Air Force (ZAF) and Zambia National Service (ZNS), plus private sector employees; salary advances require banking with Absa, Atlas Mara, Indo, Natsave or Zanaco | Must already be a BoligBank 360, BoligBank 365, Private Banking or Private Banking Elite customer and fund at least 20% of the price |
| Loan types | Personal, Payday, Cash advance, Secured, Car, BusinessCovers more | Car, Secured |
| Loan amount | ZMW 150,000 | Not confirmed |
| Credit check | Not confirmed | Hard |
| Funding time | Within 24 hours of approval, paid via EFT | Not confirmed |
| Origination fee (%) | 0% | Not confirmed |
Same on both: Lender type (Direct lender), Use cases (Home improvement).
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Key differences
- Izwe Zambia scores higher overall: 9.2 vs 9.1.
- Founded is lower at Nykredit: 1985 vs 2008.
- Nykredit is available in 1 more country.
- Free early repayment: only Nykredit.
- Term is higher at Nykredit: 120 months vs 60 months.
- Support channels: only Izwe Zambia offers Email.
- Support channels: only Nykredit offers Community.
- Loan types: only Izwe Zambia offers Personal, Payday, Cash advance.
Our verdict on each
Izwe Zambia
Izwe Zambia lends directly in Zambia, with personal loans up to ZMW 150,000 on fixed rates. It suits permanently employed government, Air Force, National Service and private sector staff, and money lands Within 24 hours of approval, paid via EFT.
Nykredit
Nykredit suits Danish borrowers who already bank with the group and want a secured car loan or a home loan on the same relationship. The offer rests on a rate type of variable, an origination fee of 0 DKK and a maximum loan to value of 75%.
Score breakdown
| Area | Izwe Zambia | Nykredit |
|---|---|---|
| Cost | 8.9Arrangement fee 0 ZMW and product fee ZMW 0 on personal loans, with fixed pricing fixed. | Not confirmed |
| Offer | 9.8Higher | 8.8Rate type is variable, origination fee is 0 DKK, maximum loan to value is 75% and term is 120. |
| Trust | 9.1 | 9.2Higher |
Choosing between them
Pick Izwe Zambia if loan types matter most.
Pick Nykredit if term and free early repayment matter most.
Where each is licensed and available
| Country | Izwe Zambia | Nykredit |
|---|---|---|
| Zambia | Not confirmed |
Additional countries for Izwe Zambia: 1. Additional countries for Nykredit: 2.
How they place
| Ranking | Izwe Zambia | Nykredit |
|---|---|---|
| Secured loans | 101 of 472 | 169 of 472 |
| Mortgages | 122 of 719 | 207 of 719 |
| Car loans | 114 of 431 | 180 of 431 |
| Home improvement loans | 164 of 562 | 273 of 562 |
| Equity release | 5 of 32 | 11 of 32 |
What each covers
| Loan types | Izwe Zambia | Nykredit |
|---|---|---|
| Personal | Yes | No |
| Payday | Yes | No |
| Secured | Yes | Yes |
| Car | Yes | Yes |
| Business | Yes | No |
| Cash advance | Yes | No |
| Use cases | Izwe Zambia | Nykredit |
|---|---|---|
| Home improvement | Yes | Yes |
If neither fits
Sofkredit has term at 6 to 240 months, against 60 months for Izwe Zambia and 120 months for Nykredit.
Sofkredit reviewEvery fact side by side
| Fact | Izwe Zambia | Nykredit |
|---|---|---|
| Pricing model | Fixed rate | Not confirmed |
| Features | Same day funding | Not confirmed |
| Legal entity | Izwe Loans Zambia PLC | Nykredit Bank A/S |
| Headquarters | Zambia | Denmark |
| Founded | 2008 | 1985Lower |
| Support channels | Email, Phone, Help centre, Chat | Phone, Chat, Help centre, Community |
Mortgages
| Fact | Izwe Zambia | Nykredit |
|---|---|---|
| Fixed period | 5 years | 1 to 30 yearsHigher |
| Maximum loan to value | Not confirmed | 75% |
| Product fee | ZMW 0 | Not confirmed |
| Purpose | Equity release | Purchase, Remortgage, Equity releaseCovers more |
Where each stands against the rest
| Fact | Izwe Zambia | Nykredit | Median |
|---|---|---|---|
| Loan amount | ZMW 150,000above the median | Not confirmed | ZMW 100,000 |
| Term | 60 monthsat the median | 120 monthshighest quarter | 60 months |
| Origination fee (%) | 0%below the median | Not confirmed | 0.25% |
Median across 1005 listed lenders.
Pros and cons
Izwe Zambia
Pros
- Arrangement fee 0 ZMW and product fee ZMW 0 on personal loans, so no upfront charge to weigh
- Direct lender direct lender under the Bank of Zambia, with the legal entity Izwe Loans Zambia PLC
- Funding Within 24 hours of approval, paid via EFT, and same day funding same day funding is listed on personal loans
Cons
- Free early repayment is no, so settling the loan early carries a cost
- Eligibility is narrow: permanently employed government, ZAF and ZNS staff plus private sector employees
- Salary advances need banking with Absa, Atlas Mara, Indo, Natsave or Zanaco
Nykredit
Pros
- Car and secured lending under car and secured, with free early repayment on the basic car loan
- Origination fee of 0 DKK on the electric car loan, with a term of 120
- A direct lender rather than a broker, so pricing comes from direct lender itself
Cons
- Maximum loan to value of 75% ranks 246 of 293
- The stated purpose is purchase, remortgage and equity release, so lending centres on the home rather than general borrowing
- Eligibility starts with an existing BoligBank or Private Banking relationship, so an applicant has to move banking first
Who each suits
Izwe Zambia
Who it suits
- Borrowers after personal, payday, cash advance, secured, car or business lending, personal, payday and cash advance
- People who want the money paid into their bank account by EFT, Within 24 hours of approval, paid via EFT
Who should look elsewhere
- Self-employed or contract workers outside the listed employers
- Anyone planning to repay early, since free early repayment is no
- Borrowers needing loan types outside personal, payday and cash advance
Nykredit
Who it suits
- Drivers who already hold a BoligBank or a Private Banking account and want a car loan
- Homebuyers and movers who fund a deposit themselves and want one bank for the mortgage and the car
- Households planning home improvement work who want a secured loan against the property
Who should look elsewhere
- Borrowers with thin deposits, since lending stops at 75%
- Applicants with poor credit, as the check is hard
- Readers wanting a fixed rate, since the stated rate type is variable
Current offers
Nykredit
Current offer
Bonus
Bonus rate on BoligOpsparing before buying your first home: 5% bonus interest on the first DKK 300,000 of BoligOpsparing
Saving in a BoligOpsparing before buying your first home; must move your mortgage to Nykredit
Source, checked September 26, 2026
Country by country
| Country | Izwe Zambia | Nykredit |
|---|---|---|
| Denmark | No | Yes |
| Greenland | No | Yes |
| Zambia | Yes | No |
Questions about each
Izwe Zambia
What does Izwe Zambia charge in fees?+
On personal loans the arrangement fee is 0 ZMW and the product fee is ZMW 0. Interest is charged on a fixed rate, fixed, so your repayments do not move with the market. Repaying early is not free, so the cost of settling up front is worth checking before you apply.
How much can I borrow and for how long?+
Loans run up to ZMW 150,000, over a term of 60. The range covers personal, payday, cash advance, secured, car and business lending, personal, payday and cash advance. The personal loan pages also list home improvement as a use, home improvement, and landed property borrowing is an equity release product, equity release.
Nykredit
Who can apply for the Nykredit electric car loan?+
Eligibility is limited to people who already bank with the group as a BoligBank, Private Banking or Private Banking Elite customer, and who put up a deposit themselves before the rest of the price. The group dates back to 1985 and is based in Denmark.
What does the car loan cost?+
The origination fee is 0 DKK on the electric car loan, with a term of 120. The rate is variable rather than fixed, so the rate type listed is variable and the balance can move with market rates.
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