Savings & Loans
What is MoKash?
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.
Dial *165*5# and select MoKash to get started.
What are the services that MoKash offers?
A customer can save and earn interest or can get a short term loan with MoKash.
What are the features of MoKash Savings.
- Upon activation of MoKash a customer should save by moving money from their Mobile Money account to their MoKash account.
- To save with MoKash dial *165*5# select MoKash, then Savings then Deposit. A customer can save as low as UGX50.
- Money saved on MoKash earns interest.
You can also activate Auto Savings. Choose between 3 options; daily, weekly or monthly.
What interest do I earn when I save with MoKash?
1 – 300,000
300,001 – 800,000
800,001 – 1,600,000
What are the features of the MoKash Loan?
- To access a MoKash loan a customer should have first saved with MoKash. Customers can save as low as UGX 50.
- 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.
- Loan repayment period is 30 days
- If loan in not paid within the 30 day period, customer will extend the outstanding loan for another 30 days at a fee of 9%
- Loan is deposited directly to the customers MTN Mobile Money account.
- To get a loan dial *165*5#, select MoKash, then Loans and follow the steps. Remember to check your Loan Limit.
How much is a customer charged when using MoKash?
All MoKash transactions are free. Depositing or withdrawing from your Savings account, checking loan limit, repaying a loan are all free transactions.
Where do I access the MoKash Terms and Conditions?
The MoKash Terms and Conditions can be accessed via the MTN website – https://www.mtn.co.ug/helppersonal/savings-loans/