CBA & MTN Uganda launch MoKash, a service for short term mobile loans & savings

The customer does not have to visit any bank to fill out forms.

To activate a customer should dial *165*5# and enter their MTN Mobile Money PIN.

• To use the service you have to be an MTN customer and active on MTN Mobile Money.
• Dial *165*5# to get started.
• You will be prompted to enter your MTN Mobile Money PIN to activate your MoKash account.
• • Activation of a MoKash account is free.
  • Any transactions between MoKash and Mobile Money are free. Ie Savings, Auto savings, Loans, Loan payment, Account balance check.

  Interest Rates – Savings.

  You can save a minimum of UGX 50 up to any amount depending on KYC level

  Amount	Interest
  1 – 300,000	2%
  300,001 – 800,000	3%
  800,001 – 1,600,000	4%
  1,600,000	5%

   

  Interest Rates – Loans

  You can borrow between UGX 3,000 to UGX 1,000,000 depending on your loan limit at a fee of 9%.