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Do You Want to Borrow Money from MTN MoKash? Follow These Steps!


TechInAfrica – Africa’s telecommunications service provider, MTN has a special service for saving and borrowing money via mobile phones called MoKash. As for borrowing money, it is topped to customer’s mobile money account in a period of 30-days. The telco applies a 9% interest for the money customers have borrowed from.

There is a maximum amount of money a customer can borrow – UGX1,000,000 with the same interest rate. Meanwhile, the minimum amount a customer can borrow is UGX3,000. You can borrow money from MoKash only if you are an MTN Mobile Money Subscriber, saving on MoKash and has actively used other MTN services – internet and mobile money.

There is the Loan Limit for the money you can borrow which is determined by your credit score. The loan limit is affected by your repayment behavior and mobile money transactions.

MTN MoKash
MTN MoKash via

Compared to traditional banking loans, MoKash provides faster loan processing as it does not need collateral thus makes the process much faster. MoKash is estimated to process 10,000 loans per day averagely.

These are what you need to do if you want to borrow money from MTN’s MoKash:

  • Open up your phone and dial *165*5#
  • Select MoKash
  • From the menu, Select option 2 Loans
  • Before you type your loan amount, you need to check your loan limit first. Thus, you need to select option 3 Loan Limit
  • Repeat the first and second steps
  • On the third step, select 1 to request for a loan
  • Enter the amount you want (do not go beyond your loan limit)
  • Enter your mobile money pin to confirm the loan request
  • Usually, it only takes 2 minutes to get the loan topped into your mobile money account
  • Finish

For a kind reminder, make sure to repay the loan no more than 30-days after the loan was borrowed. Pay the loan with the addition of a 9% interest. If you have not paid the loan within the 30-days period, you will extend an outstanding loan for another 30 days alongside the 9% interest.



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