In this tutorial I'm going to show you how you can get a loan on MTN mobile money.
Getting a loan on MTN mobile money is very easy as long as you know how to do it but before you get a loan there are some qualifications that you have to meet first and I have explained them below.
The first mandatory requirement is that you have to be a subscriber to the MTN Mokash service and you should have been a subscriber for at least 3 months to start getting loans.
After subscribing to Mokash there are things that you need to do in order to increase your loan limit.
When your account is still new, your loan limit will only be zero!
Then as time goes on and you keep saving money on your Mokash account, your loan limit will increase. So, generally speaking, your loan limit increases with time and the amount that you deposit into your Mokash account is also key in icreasing your loan limit.
The Mokash account is free to use and even if you just keep saving there money and removing it, the transaction fee is zero and that also will help you to increase your limits so you can just keep saving there money and then you remove it anytime you would like to use it without any charges.
The minimum amount you can deposit is UGX 50.
Below I have explained everything that you need to know about Mokash starting from how to create an account, how to deposit money to Mokash and also how to get the loan plus how to check your loan limit.
So, if you're interested in that, just continue reading below.
How to activate a mokash account.
1.First, Dial *165# on your MTN SIM and select option 5 which is savings and loans.
2.Next select Mokash
If it's the first time for you to do this, you'll be required to enter your mobile money PIN code and then wait a few minutes for the Mokash account to be activated.
There after, you will get a confirmation Message from MTN.
That's all about creating a Mokash account.
Now let's look at how to deposit money to your Mokash account.
How to add money to your Mokash account
1.You can access more cash directed by dialing *165*5*1# then select savings which is option one.
2.After that, choose deposit
3.Now enter the amount that you want deposit and confirm with your mobile money pin code.
That amount will immediately be deposited into your Mokash account from your mobile money account.
There's no charge involved in this transaction.
You can withdraw the money from your Mokash account back to your mobile money account at a zero cost.
So, there's nothing to worry about but in order to be eligible for getting loans, you don't have to just deposit and withdraw the money immediately. At least you have to leave the money on your Mokash account and only remove it when you want to use it.
Just keep your account active by depositing some money regulary, and after 3 months, you will be able to get a loan from Mokash.
How to check your Mokash Loan Limit.
1.Once again, you can access the Mokash by dialing *165*5*1#
2.Select Loans, then select check loan limit to know the amount of loan that you can obtain from the Mokash, then you will be shown the maximum amount of money that you are you are eligible to get as a loan from Mokash.
Finally, let's look at how to obtain a loan from a cash.
How to get a loan from Mokash.
Before requesting for a loan, you need to first check your loan limit.
1.Dial *165*5*1# and then select loans then proceed and select request for a loan.
2.Enter the amount of loan that you would wish to get, but before doing that make sure it is within the range of your loan limit.
After that, your request will be processed and you will successfully get the loan and the money will be loaded to your mobile money account.
You also be given a time frame in which the loan is required to be paid.
That's all for this tutorial and in case you have any question please comment below.
Tags:
#loans #mokash #MTNMomoLoans
What if I want to nvest?
ReplyDelete