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Out of Cash? Here is how you can borrow money with MTN Mokash

With a booming financial inclusion rate in Uganda partially powered by telco mobile money services, running out of cash is as easy as a 0/= balance wallet notification with fewer escape routes, but with MTN’s MoKash service you could bid farewell to the out of cash beeps.

In partnership with CBA, MTN Uganda unveiled its MoKash service as a new momo product on the market way back in 2015. While the service is accessible through the MTN Mobile money menu. It’s a different option that allows you to have a secret wallet off your main expenses dongle.

Away from being a savings wallet, you can easily get some extra cash refilled to your Mobile money account by simply adhering to the service terms and conditions via the Loans menu. To that, here is how you can grab an instant MoKash Loan that can be paid back later.

Accessing MTN MoKash

  • Dial *165# and select option 5 (Savings & Loans)
  • or Dial *165*5#
  • Then Choose MTN Mokash (Option 1)

Getting a MoKash Loan:

  • Off the Main MoKash Menu(*165*5#)
  • Select Option 2 (Loans)
  • Select option 1 (Request for a Loan)
  • Enter Loan Amount (Depending on your current limit)
  • Enter your Mobile Money pin to receive the instant cash

Paying back your MoKash Loan

  • Off the Main MoKash Menu
  • Select Option 2 (Loans)
  • Select Option 4 (Check Loan balance)
  • Dial 0 (back to previous menu)
  • Select Option 2 (Pay Loan)
  • Enter loan amount to be deducted from your Mobile Money account
  • Enter your Mobile Money Pin to re-pay Loan

In case your MoKash Loan limit doesn’t excite you or just unable to get a loan, then consider our pile of tips to help you grab a higher MoKash loan limit the next time you’re out of cash and keep a clean transactions sheet.

In a nutshell, MTN’s MoKash service is a lifesaver whenever you’re in a quick fix that may require some instant cash. However, If you’re an Airtel subscriber, you can also check out the Red camp’s Wewole package that borrows the same MoKash streak with only a savings difference between the two quick cash alternatives.