MTN only offers loans to selected customers who actively use services like airtime, data, SMS, bill payments and MTN Mobile Money transactions. You will get an SMS when you qualify. To qualify in future, use more MTN services and Mobile Money transactions.
Dial *165# on your MTN line, select 5 for Savings & Loans and 5 for MoSente Loans. You will need to enter your PIN and choose how much money you need. If you get a message that says you don't qualify, you are not able to get a loan yet. Keep on making payments and transfers with your MTN Mobile Money wallet and you could qualify in future.
MoSente offers loans from 10,000 for customers who have never taken a loan before. How much you can get depends on how you use your MTN Mobile Money wallet, how you use other MTN services like airtime, data and SMS.
You can get loans for 14 & 30 days. The payment will be taken out of your MTN MoMo account at the end of the term, or you can choose to repay early by dialling *165# and choosing 5 for Savings & Loans and selecting 5 for MoSente Loans. You can then choose whether you want to pay the whole loan, or only part of the loan, and enter your PIN to confirm.
Fees are 7.50% and 8.75%. You will be shown how much your fee will be before you take the loan. Customers with good repayment habits, like paying and transferring with their MTN MoMo account, and always repaying their loan on time get better Loan offers.
You can only have one loan at a time, but once you've paid your loan you can qualify for another loan. Your next loan could be bigger, if you pay on time and use your MTN Mobile Money wallet and other MTN services like airtime, data and SMS
Dial *165#, select 5 for Savings & Loans, 5 for MoSente Loans and 3 for Check Loan Balance
To repay your MoSente loan make sure you have enough money in your MTN MoMo wallet on the day your loan is due and we will take the money out of your wallet. If you want to pay early, dial *165# and choose 5 for Savings & Loans, 5 for MoSente and select 2 for Repay Loan. You can then choose whether you want to pay the whole loan, or only part of the loan and enter your PIN to confirm.
To pay early, dial *165# and choose 5 for Savings & Loans, 5 for MoSente and select 2 for "Repay Loan". You can then choose whether you want to pay the whole loan, or only part of the loan and enter your PIN to confirm
Yes, you can. It's always better to pay at least part of the loan when you can, until you are able to pay in full to avoid a Late Payment fee and a drop in your loan offer
If you do not pay your loan on the due date you will have to pay a 12.5% Late Payment fee on the money you haven't paid. You will get SMSes to remind you to pay before the due date. If you pay late your next loan may be smaller, and if you often pay your loans late you could be removed from the loan service.
Use your MTN Mobile money wallet to pay and transfer often, and make sure you repay your loans on time. The loan amounts you get are decided by your use of MTN services like airtime, data, SMS, bill payments and MTN Mobile Money transactions and by looking at whether you repay your loans on time, every time.
If you've paid one of your loans late, or if you're using MoMo or other MTN services less than you used to. The loan amounts you get are decided by your use of MTN services like airtime, data, SMS, bill payments and MoMo transactions and by looking at whether you repay your loans on time, every time.
Check if the message you get is that you don't qualify, or if it is that you've "reached your daily loan limit". If you've reached your limit, try again in 24 hours. If it's that you don't qualify, remember that to get loans you need to make payments and transfers with your Mobile money account, use your MTN services regularly and repay your loans on time every time.
What is Marketing consent?
Marketing consent allows a customer to opt-in and -out of receiving marketing messages. Please note that this only applies to marketing messages, and does not include messages about the current loan you have taken.
How do I view or change my marketing consent status?
To view or change your status, simply dial *165# and choose 5 for Savings & Loans and select 5 MoSente and 7 for Marketing You can select to either receive marketing messages or select to not receive marketing messages. Please note that this does not include messages about the current loan you have taken. If you have an active loan, we will still message you about the loan you have taken.