Savings & Loans - MTN Uganda (2024)

FAQs

What is the interest rate in MTN Uganda? ›

Savings Products. Up to UGX 300,000 earns 2% interest. From UGX 300,001 – UGX 800,000 earns 3% interest. From UGX 800,001 – UGX 1,600,000 earns 4% interest.

MTN Qwick Loan

MTN partnered with AFB Ghana, to provide customers with MTN loans, which is accessible to users who have actively transacted in their wallet beyond 90 days. Qwickloan, is an instant way to access cash at any time for any purpose and offers up to 1,000 Ghana Cedis.

Instant MoPesa Loans: Dial *165*45#. Instant loan approvals and the money is credited to your Mobile Money account. The loan can be used for any Mobile Money service, e.g., send money, buy airtime or bundles, pay bills, pay school fees, MoMoPay, and more.

Dial *303# and select XtraTime. You can then select your preferred amount from the list. After selecting your preferred amount, the system will then send you a message with the amount you are about to borrow and the applicable service fee for you to confirm the transaction.

Access the loan effortlessly using the USSD code (*203) or the FINCA mobile App, available on the Google Play Store. Borrow amounts ranging from a minimum of 20,000 UGX to a maximum of 500,000 UGX. Choose a loan tenure as short as 1 month.

In January 2020, the industry average lending rates were at 20.06 percent and it had dropped to 17.2 percent in June. Citibank had the cheapest rate consistently below 15 percent. However, Citibank doesn't lend to individual customers. Standard Chartered Bank and Stanbic bank also had lower rates than most peers.

Minimum transaction amount: UGX 500. Maximum transaction Limit: UGX 5,000,000. Minimum account balance: UGX 0. Maximum account balance: UGX 20,000,000.

Personal loans are easy to get when they offer flexible credit score and income requirements.

For example, Axis Bank offers Instant Personal Loans without security. You can use Personal Loan Eligibility Calculator and Personal Loan EMI Calculator to determine your loan eligibility, loan amount, and EMI. Some of the key features are as follows: No security required.

How do I get a loan on MTN? ›

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.

“All you have to do is use MTN Mobile Money wallet more frequently and also commit to repay your loans on time in order to have access to more loans. MTN customers simply have to dial *170# and choose option 6 to access the Qwikloan” he said.

For any queries, please reach out to our customer care support teams on 100 (Toll Free), email customerservice.ug@mtn.com or WhatsApp 077 212 3100.

Just dial *506# to instantly borrow airtime or data and pay it back later.

An applicant for a loan under the Service must be eighteen (18) years old or over to qualify for a loan. 2.7. To request the Service, Customer needs to dial *303# and select the option “Kongola and Savings”, then “Kongola” and then “XtraCash loan”.