Personal Loans in Botswana: How to Apply

personal loans in Botswana

Personal loans in Botswana offer a straightforward way to access finance, to cover unplanned expenses or leverage opportunities. But which type of personal loan is the best alternative?

Here’s a round-up of available options.

Personal loans against assets in Botswana

Asset-based loans fall into the secured personal financing category. They’re quick and easy to obtain.

Anyone in Botswana who owns a high value asset qualifies for this type of funding, regardless of employment status, credit score or financial history.

What we offer

lamna Botswana offers short-term personal loans backed by assets, such as vehicles, boats, artworks and luxury wristwatches.

The asset, which must be fully paid up and in good condition, can unlock a percentage of its appraised re-sale value in the form of a loan.

How to apply

Prospective clients can apply for an asset-based personal loan via our call centre or online platform. All that’s required is the client’s contact details and information about the asset.

Our consultant will respond almost immediately with an indicative offer of a loan. This is confirmed in writing when the asset is appraised at the lamna Gaborone branch. The asset is then handed over as security.

Impact on credit rating

Asset-based personal loans in Botswana have no impact on credit ratings or scores. We don’t conduct affordability assessments or share information with credit agencies.

Personal loan agreements are confidential contracts between our clients and ourselves.


Personal loans from lamna carry negligible risk. The only asset that can be sold to recover losses arising from a loan default is the item held as security.

Personal loans from banks in Botswana

Personal bank loans in Botswana are characterised by low interest rates. As this type of loan is unsecured, there are stringent qualifying criteria.

What banks offer

All major banks offer personal loans of up to BP650,000 and more. Repayment terms range from 12 months to five years. Interest charged is dependent on income and credit metrics.

How to apply

Personal bank loans can be applied for online or at the nearest branch. Applicants must be employed and over the age of 21.

In addition to a valid Omang, banks require payslips, confirmation of employment, proof of residence, bank statements and a record of existing debt.

Only Batswana with a solid financial track record and credit score qualify for personal bank loans in Botswana.

Impact on credit rating

Personal loans from banks can negatively affect credit ratings, making it more difficult to get additional funding in the future.

Personal loans from pay-day lenders

Personal loans from pay-day lenders are nominal in value and only available to people earning a regular income.

What a pay-day loan involves

Pay-day loans are microloans that have to be paid back as a lump sum on the next pay day.

What you need to apply

Microlenders typically require proof of income and a valid ID document.

Warning against unfair lending practices

Some providers operating in the pay-day loan space are unregulated. No formal agreements are drawn up, detailing terms, fees and interest rates.

As a result, clients are often charged hefty penalties, which can lead to spiralling debt.

Personal loans from family and friends

Requesting a loan from family and friends is the cheapest way to borrow money in Botswana, but it comes with obvious risks.

What to consider

What must be considered is the worst-case scenario – not being able to pay back the loan.

When that happens, there’s a good chance close relationships will suffer. No-one wants to alienate the people they love and trust.

Advantages of an asset-based loan from lamna

There are many advantages to an asset-based loan from lamna, including:

  • flexible repayment terms
  • no hidden fees
  • no early settlement penalties
  • no affordability assessments
  • competitive interest rates
  • low risk
  • guaranteed qualification for personal loans in Botswana.

Personal loans from lamna Botswana

At lamna Botswana, we offer fast, discreet personal loans against the value of a wide range of assets, from luxury watches and jewellery to vehicles or valuable works of art.

For more information about using an asset to secure a personal loan in Botswana, contact us on 71 388 088 or simply complete and submit our online application form.

Complete our Online Application Form