MTN MoKash is a service that allows customers to save and borrow money using their phones. Customers can save money while earning interest or take out short-term loans at a low-interest rate. The customer is not required to visit a bank to complete forms.
How to get a MoKash loan
Firstly to qualify for the MTN MoKash loan, you have to be registered with MTN Mobile Money with a minimum of active 6 months of transaction history with the service.
You can follow the procedures below to check your credit limit;
- Dial *165*5#
- Choose choice 1 (MoKash)
- Choose choice 2 (Loans)
- Choose choice 3 (to check credit limit)
How to borrow money from MTN MoKash
- Dial *165*5#
- Select MoKash
- Select Loans
- Select Option 1, then go ahead and request a loan
- Enter the amount you wish to borrow
- Enter your pin to confirm
Read: Airtel Money loan (Wewole) in Uganda: Here’s all you need to
Frequently Asked Questions (FAQs)
1. What is the loan limit for MoKash?
You can borrow between UGX 3,000 to UGX 1,000,000 depending on your loan limit at a fee of 9%.
It is important to keep in mind that you must pay back any loans you get at the agreed time. Before applying, make sure you understand what you will be getting.
