Banda, who will face opposition leader Michael Sata at the polls, has put the police force on alert to crack down on violence during Tuesday's election, The Wall Street Journal reported Monday.
"I have ordered the police to arrest and prosecute all those who offend. Expect no mercy ... expect only the full force of the law to come down on you," he said.
Campaigns for the presidential election have been marked by violence between supporters of the two political parties.
Sata, representing the Patriotic Front party, accused the ruling Movement for MultiParty Democracy party of stealing the victory when he first ran against Banda in 2008. Political analysts expect Banda to win the presidency a second time.