MTN MoMo Qwikloan

MTN MoMo Qwikloan

Do you know with MTN MoMo Qwikloan, it’s easy to apply for a loan? Download the MTN MoMo App and let’s get started. MTN MoMo takes the hassle out of paperwork, making the process easy for registered customers.

What is a Qwikloan?

These are quick-access, easy-application loans—no documentation is required. Apply anytime 24/7, and get paid into your MoMo wallet immediately upon successful application.

Do You Know

  • MTN Qwikloan charged interest and fees for the loan. This Loan product is National Credit Regulator (NCR) compliant; thus, related fees will apply. But we offer low interest rates thus making the loan affordable.
  • Registered MTN-Customer can I apply for a Qwikloan? Remember MoMo customers don’t have to be on the MTN network to register for MoMo.
  • Depending on your eligibility and affordability assessment outcome, a customer can apply for more than one loan at a time.
  • No documentation is required for Qwikloan, the credit provider will advise you of your eligibility for a loan.
  • To increase your chances of eligibility you need to be an active MoMo wallet user. Meaning if you don’t qualify you must continue to use your MoMo wallet to transact, increasing your chance of qualifying for a loans

Who Qualify for MTN MoMo Qwiklaon

To qualify for a loan

  • Have a Registered MoMo Account
  • Have a National ID
  • Be over the Age of 18 Years
  • Be a Natural person

To increase your chances of eligibility you need to be an active MoMo wallet user.

How to Apply for MTN MoMo Qwikloan

To apply, check if you are eligible, if eligible, follow this application procedure to apply for MTN Qwikloan.

  1. Download the MoMo App/USSD
  2. Launch the App
  3. Tap on the Apply Button
  4. Complete the application screens
  5. Log into MoMo
  6. Register for MTN MoMo
  7. Go to the Loan Menu
  8. Select Qwikloan by JUMO
  9. Accept T & C, consent clause
  10. Apply for a Loan
  11. Select Amount
  12. Accept Quote and Agreement

Funds disbursed. Upon approval of your loan, the payment will be made into your MTN MoMo Wallet.

Do You Know 

List of MTN Short Codes in South Africa

How to Repay MTN MoMo Qwikloan

Debtors can settle their loans at any time in full or partial. Here are the procedures to follow;

  1. Go to the MoMo App
  2. Navigate to Loans
  3. Select Active Loan
  4. Tap on Repay Loan
  5. Choose an Amount you want to repay or settle in full.

A customer can manually pay back their loan before or on the due date. There will also be an auto repayment scheduler facility that customers can set up for installment repayment and repayment of overdue accounts. The repayments will be made from the customer’s MoMo wallet.

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