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MoMo
Xtracash FAQs
What is Xtracash?
XtraCash is a digital micro-lending solution provided by MTN Mobile Money (MoMo) and Pearl Bank Uganda, designed for MTN subscribers to access short-term loans directly via mobile money. MTN Subscribers can borrow through MTN MoMo USSD *165*88# or *165*5#, select XtraCash and receive funds instantly into their MoMo wallet.
Who is eligible for XtraCash?
- MTN MoMo subscribers active on the platform for at least 3 months
- MTN MoMo subscribers with sufficient transaction volumes
- MTN MoMo subscribers with good credit and repayment history
- MoMo subscribers who have opted in by accepting the Terms & Conditions
What are key product features?
- Minimum loan amount of UGX 1500 and a maximum of UGX 900,000
- Provides any day, 7 day and 28-day loans
- Flexible repayment of any day, 7day, 28 day
What are the benefits of Weekend Agent Loan?
- Convenient. MTN agents can access the loan via USSD short code *165*88#
- Instant. MTN agents can access to funds for operational needs in less than five minutes.
- No collateral security is required to access the loan.
- Higher Limits. MoMo subscribers can get up to 900,000/= depending on how they use mobile money services and repayment history.
What are the costs associated with the loan?
- Any-day loan – Access of fee: 8% & 0.33% daily interest for 30 days, Penalty 9%
- 7-day loan – Access of fee: 6%, Penalty: 8%
- 28-day loan – Access fee of 9 -17.5%, Penalty: 10.5%
How do I sign up?
- Dial the MTN MoMo USSD code *165#
- Select ‘Savings and Loans’
- Select ‘XtraCash’
- View and accept Terms & Conditions
- Enter MoMo PIN to join XtraCash
- An SMS is sent to the agent upon successful registration.
How do I access the loan?
- Dial the MTN MoMo USSD code *165#
- Select ‘Savings and Loans’
- Select ‘XtraCash’
- Select ‘Take a Loan’
- Enter amount (within approved credit limit)
- Select loan term
- Enter MoMo PIN
Can I repay early?
- Yes. Early repayments can be made through the same USSD code *165*88#.
- Select Repay Loan
- Enter amount(Partial and full repayments are supported).
Can I take multiple loans at the same time?
No, an MTN MoMo Subscriber must fully repay an existing loan before applying for a new one.
How do I grow my loan limit?
- Increase activity on your MTN Momo account by transacting more.
- Early and prompt repayment of your loan.
What if I want to opt-out?
- Dial *165#
- Select ‘Savings and Loans
- Select XtraCash
- Select ‘Self-Care/Account Info’
- Select ‘Opt-Out’
- If no outstanding loan balance, the account will be closed
- If loan balance exists, you must repay before opting out.
How is repayment made?
- Dial *165# Select ‘Savings and Loans >
- Select ‘XtraCash
- Select ‘Repay Loan’
- Enter Amount (partial or full repayments are allowed)
- Enter MoMo PIN
What happens if I do not repay on time?
- A penalty will be applied on the outstanding amount
- Any-day loan – Penalty 9%
- 7-day loan – Penalty: 8%
- 28-day loan – Penalty: 10.5%
Where can I get more information?
To get more information about the XtraCash, customers can reach us on; Helpline: 100
WhatsApp: 0772122100 and 0772123100
Twitter: @MTNMoMoUG
Instagram: MTNMoMoUG
Or contact your field supervisor.
Visit the MTN MoMo platform for Xtracash T&Cs.