mCASH loan
mCASH loan is a mobile loan product which allows member to borrow through the phone.
Features
- Maximum limit is kshs 300,000/=.
- Qualifying loan is up to 75% member’s share deposit.
- Interest rate is 5% per month.
- Processing fee of 5% (upfront).
- Rollover interest 2%.
- Repayment Period: 1-3 months.
- A member can access upto 3 loans of this kind at a time.
- Membership Period: Immediate upon first deposit.
- You must be registered with M-Sacco (Mobile banking platform) to access the loan via *470#.