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How to save and get a loan with MTN MoKash

MTN Uganda recently partnered with Commercial Bank of Africa (CBA) to usher in the new service that offers its Mobile Money subscribers the option to save and access loans using their mobile handsets.

The service dubbed MoKash allows subscribers to activate a savings and loans account free of charge.

CBA reported last week that in less than 48 hours from the launch, they had registered over 83,000 subscribers to the MoKash micro savings and loans service. So 83,000 of over 8 million Mobile Money subscribers puts the market penetration at 1.04% after 48 hours of launch.

MoKash is a mobile money loans and saving product to bring the unbanked members of the public into the financial services loop. All transactions between MoKash and Mobile Money – Savings, Auto savings, Loans, Loan payment, Account balance check are free.

How to save with MTN Mokash

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.
  • Select Savings.
  • Choose Option 1. Deposit
  • Enter the amount you wish to save followed by the PIN to confirm.

How to activate Auto savings.

You can schedule savings to happen automatically. You can choose between 3 options; daily, weekly or monthly. You can save any amount.

  • Dial *165*5#
  • Select 1. MoKash
  • Choose 1. Savings
  • Select 3: Auto Savings
  • Choose to activate Auto Savings
  • Select frequency – daily, weekly or monthly
  • Choose a day of the week when the auto savings is to take effect
  • Enter maximum amount to be deposited into your MoKash Account from your Mobile Money account
  • Enter your Mobile Money PIN to confirm

The minimum amount a customer can save on their MoKash account is UGX 50 to any amount depending on their KYC level. Savings earn interest of up to 5%.


Amount (UGX) Interest
1 – 300,000 2%
300,001 – 800,000 3%
800,001 – 1,600,000 4%
> 1,600,001 5%

How to get a loan with MTN MoKash

You can borrow up to a maximum amount of 1,000,000/- at a fee of 9% of the value borrowed.

The amount of money you can borrow is determined entirely by your credit score – called the Loan Limit – which is computed based on assessments of the user’s repayment behavior, savings amount, and their use of Mobile Money as well as other MTN services.

You can verify your loan limit by dialing *165*5# ok, select option 1 for MoKash, 2 for loans & 3 to check credit limit.

  • Dial *165*5#
  • Select MoKash
  • Then Select Loans
  • Choose Option 1. Request a Loan
  • Enter the amount you wish to borrow followed by the PIN to confirm


Staff Writer

All articles published by Staff Writer have been contributed by all our reporters and edited and proofread by our editorial team.


  1. On track ! Credit check based on user behavior. Now add big data and the equation is full circle.

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