MTN MoKash review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
MTN MoKash lends straight to an MTN Mobile Money wallet, so an adult mobile money subscriber can borrow small sums and repay early without a monthly charge. It suits short, urgent gaps in Uganda rather than anyone planning a longer term loan.
Key facts
- Best for
- A small short-term loan or credit line paid into an MTN Mobile Money wallet in Uganda.
- Loan amount
- UGX 3,000 to UGX 3,000,000↗
- Term
- 30 months↗
- Arrangement fee
- 9% facility fee on the full loan amount, paid in arrears; 9% roll-over fee on the outstanding amount if unpaid after 30 days↗
- Funding time
- Credited straight to the MTN Mobile Money wallet on disbursement↗
- Rate type
- Fixed↗
- Lender type
- Direct lender↗
- Free early repayment
- Yes↗
- Eligibility
- 18+ and a registered, active MTN Uganda Mobile Money subscriber↗
- Origination fee (%)
- 9%↗
- Loan types
- Personal, Payday, Credit-line↗
- Legal entity
- MTN Uganda Limited↗
- Headquarters
- Uganda↗
- Founded
- 1998↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Pricing model
- Fixed rate
- Features
- Same-day funding, Credit line
- Official website
- mtn.co.ug
Pros and cons
Pros
- Disbursed straight to the MTN Mobile Money wallet, with same day funding and credit line on the facility
- Monthly fee of UGX 0 on the MoKash account
- Free early repayment, so clearing the balance early costs nothing extra
- Borrowing of UGX 3,000 to UGX 3,000,000 on a fixed rate over 30
Cons
- A roll-over fee of 9% on the outstanding amount if the loan is unpaid after a waiting period
- Lending is limited to adults who hold a registered, active MTN Uganda Mobile Money account
- Term of 30 is short next to the 36 month median across the site
Who it suits
- Adults with an active MTN Uganda Mobile Money account who need a small sum quickly
- Borrowers who can clear the balance within 30
- People who want a fixed rate of fixed rather than a changing one
Who should look elsewhere
- Anyone without an MTN Mobile Money account, where Cashspace or Creduma ES may fit better
- Borrowers needing a longer repayment window than 30
- Larger facilities, where Sofkredit lends up to €12,000 to €300,000
Deposit protection
MTN MoKash is a direct lender rather than a broker, so direct lender does the checks and the lending itself. It is licensed by the Bank of Uganda, licence number 80010000662490. Deposits into the savings side are held with the same licensed lender, so the licence is the safeguard to look at rather than any separate savings protection scheme.
The company behind it
The lender is MTN Uganda Limited, headquartered in Uganda and operating since 1998, running on the MTN Uganda Mobile Money network that subscribers already use. It holds a Bank of Uganda licence, 80010000662490. Support runs through email, chat and phone, so help is available by phone, chat, email and a help centre.
How MTN MoKash compares
9.2 vs 9.0
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9.2 vs 8.7Sofkredit lends up to €12,000 to €300,000, useful for a larger, longer term facility than MoKash offers.
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9.2 vs 8.0- 9.2 vs 8.0
Where MTN MoKash is available
- Available
- Uganda
- Licence in Uganda
- Bank of Uganda (80010000662490), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much can I borrow from MTN MoKash?+
Borrowing runs from UGX 3,000 to UGX 3,000,000 on a personal, payday or credit line basis. MoKash lends directly, so the amount sits on your facility and is credited to your MTN Mobile Money wallet on disbursement, with same day funding and credit line available.
What does MoKash cost to borrow?+
There is a facility fee of 9% on the full loan amount, paid in arrears, and a roll-over fee of 9% on the outstanding amount if the loan is left unpaid after a waiting period. The rate is fixed and the term is 30. Monthly fee on the account is UGX 0.
Can I repay a MoKash loan early?+
Yes, early repayment is free, so there is no charge for clearing the balance ahead of schedule. The main thing to watch is the roll-over fee, which applies to the outstanding amount if a repayment is missed and carried past the term.
Who can apply for MoKash?+
Eligibility is adults with a minimum age who hold a registered, active MTN Uganda Mobile Money account. Because the product is built on the mobile money wallet, the account itself is the qualifying relationship, and funds land there on disbursement.
Is MTN MoKash regulated?+
The lender is MTN Uganda Limited, a direct lender holding a Bank of Uganda licence numbered 80010000662490. Support is offered through email, chat and phone if you want to check terms or raise a query with the company directly.
Can I save as well as borrow with MoKash?+
Yes, the MoKash Savings account is an easy access account with a minimum deposit of UGX 50. Deposits and withdrawals are free at any time by USSD, and Auto Savings can run daily, weekly or monthly, with a headline rate of 2% to 5%.
How does MoKash compare with other lenders on cost?+
The monthly fee on the account is UGX 0, which sits at the lower end of what the site records, with a median monthly fee of 28.6% share of no monthly fee providers. The borrowing cost is driven by the facility fee of 9% rather than an annual rate.
Sources
- mtn.co.ug/about-mtn checked September 26, 2026
Backs: Founded, Headquarters, Legal entity
“MTN was incorporated on 21 October 1998”
- mtn.co.ug/helppersonal/mokash-faqs checked September 26, 2026
Backs: Access terms, Loan amount, Features, Free early repayment, Headline rate, Minimum deposit, Monthly fee, Support channels
“Depositing or withdrawing from your Savings account, checking loan limit, repaying a loan are all free transactions. You can also activate Auto Savings. Choose between 3 options: daily, weekly or...”
- mtn.co.ug/terms-and-conditions/mokash-terms-and-conditions checked September 26, 2026
Backs: Account kind, Eligibility, Funding time, Lender type, Loan types, Pricing model, Arrangement fee, Origination fee (%), Rate type, Term, Licences
“you will be entitled ... to operate a MoKash deposit /savings account (hereinafter the "MoKash Deposit Account") into which you may transfer money from your MTN UGANDA MOBILE MONEY Account and/or...”
Compiled from 3 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: APR, Credit check, Representative example.
MTN MoKash
A small short-term loan or credit line paid into an MTN Mobile Money wallet in Uganda.