Are you looking for an extra option to get a quick loan in Uganda? MTN is one of the few telecommunication operators offering affordable, accessible, and quick loans through MoKash and XtraCash. The fortunate bit is that you just need to have an MTN SIM card to be eligible for MTN MoKash loans. In this blog, we will help you learn how to get quick loan on MTN.
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What is MTN MoKash loans?
MoKash is a service available for MTN Mobile Money customers that provides customers the ability to save using MTN Mobile Money and to take loans on a short term basis. With MTN MoKash, you can access a loan between UGX 3,000 and up to UGX 1,000,000 depending on your loan limit with a 9% facilitation fee. Once you are eligible for a MoKash loan with MTN, they you don’t need a loan app.
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Steps to get a quick loan on MTN MoKash
To get a quick loan with MTN MoKash, follow these steps below:
1. Go to your phone and dial *165*5#
2. Select option 5, which is Savings & loans
3. On the next options, pick MoKash to get started
4. Now, select Loans and follow the next steps.
You MoKash loan will be deposited directly to your MTN Mobile Money account. Always remember to check your loan limit to know what you are eligible for.
What is MTN XtraCash loans?
XtraCash is another way you can get a quick loan with MTN. It offers you a convenient and instantaneous way to get a cash loan for MTN existing Diamond Yello subscribers. The loan can be used to pay bills, purchase goods, P2P transfers, buy airtime and cash out, from your mobile phone.
How to get quick MTN XtraCash loans
To get a quick loan with MTN XtraCash, follow these steps below:
1. Go to your phone and dial *165*5#
2. Select option 5, which is Savings & loans
3. On the next options, pick XtraCash to get started
4. You will be prompted to accept MTN XtraCash loan terms and conditions by entering your MOMO PIN
Conclusion
We hope this guide has helped you learn how to get a quick loan with MTN MoKash and XtraCash. Always make sure to take loans you can afford to pay later. In case you need more options on quick loans in Uganda, check out some of these loan apps.
Frequently Asked Question
To get a loan dial *165*5#, select MoKash, then Loans and follow the steps.
Here are some of the reasons: If you have an outstanding loan balance. Late payment of previous loan requests. If you are currently not fully registered in the ongoing SIM registration exercise. If you don’t meet the minimum MTN loan limit.
XtraCash offer you a convenient and instantaneous way to get a cash loan for MTN existing Diamond Yello subscribers.
To apply for MTN XtraCash, simply follow the steps below:
1. Go to your phone and dial *165*5#
2. Select option 5, which is Savings & loans
3. On the next options, pick XtraCash to get started
4. Enter your MOMO PIN to accept
Here are the 10 instant mobile loan app in Uganda you can trust:
1. SweetLoan app
2. Kasente-Instant mobile loan
3. Azima Instant Loans
4. Fido Loans Uganda
5. Smart Loans Uganda
6. ManguCash-Instant Loan Online
7. Numida business loans
8. Soft Cash Loans
9. Trust Mobile Loans
10. Quicksente – Online loan app
To get a loan on MTN Mobile Money in Uganda, dial *165*5#, select MoKash, then Loans and follow the steps. You can also select XtraCash in case you qualify for their instant credit loans.
Yes, it is now possible to get an instant credit loan app in Uganda on your phone. You can either request a loan on MTN, Airtel, or and other Ugandan loan apps.
