1. What is MTN MoPesa?
MTN MoPesa is a 2-in-1 product for MTN Mobile Money customers comprising of savings accounts and hassle-free loans.
2. How can I access MTN MoPesa?
You can access MTN MoPesa by dialing *165*45# on your mobile phone and selecting either “Savings” or “Loans” from the menu.
3. Can anyone use MTN MoPesa?
Yes, MTN MoPesa is available to all MTN Mobile Money customers who have an active Mobile Money wallet. If you don’t have a Mobile Money wallet yet, you can easily register for one at any MTN service center or dial *165# with your MTN phone number to get set up.
4. Is MTN MoPesa safe and secure?
Absolutely! MTN MoPesa ensures the utmost security of your savings accounts and loan transactions. Your savings account is accessible only through your mobile device, and all loan applications and approvals are processed securely without paperwork.
5. How much does opening a savings account with MTN MoPesa cost?
You can open a savings account with MTN MoPesa for as little as UGX 500. There are no additional charges for setting up direct deposits, and you can check your savings balance at any time without incurring extra fees.
6. Can I withdraw money from my savings account at any time?
Yes, with MTN MoPesa, you can withdraw money from your savings account whenever needed. There are no extra costs on withdrawals, and the funds will be instantly credited to your Mobile Money wallet.
7. How much can I apply for with MTN MoPesa Loans?
The loan amount you can apply for depends on your credit limit, which is determined based on your Mobile Money usage history. MTN MoPesa allows you to request multiple loan credits as long as you stay within your allocated credit limit. Dial *165*45# to check your credit limit.
8. What if I want to repay my loan before the due date?
MTN MoPesa offers flexible loan repayments, and you have the freedom to repay your loan at any time and for any amount. If you wish to clear your outstanding loan balance before the due date, you can do so without any penalties.
9. Can I use the loan received for any purpose?
Yes, once your loan is credited to your Mobile Money wallet, you can use it for any mobile money service, such as airtime top-up, bill payments, or transferring funds to friends and family.
10. How quickly are loan applications processed?
MTN MoPesa prides itself on speedy loan processing. All loan applications are approved within seconds, ensuring you get the financial support you need when you need it.
