Your cookie choices

We use necessary cookies to make this site work. With your permission, analytics cookies help us understand usage and marketing cookies support advertising.

You can reject non-essential cookies and still use the site. Change your choices anytime in Cookie settings.

Cookie settingsCookie policy

MVola review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

MVola suits savers in Madagascar who bank from a phone and want money working for them between transactions. Its savings balance pays 8% with no monthly charge, withdrawals land the same day, and a personal loan lands in 2 minutes, credited directly to the mobile wallet.

Key facts

Best for
Saving a small amount by phone and keeping it available the same day.
Headline rate
8%↗
Rate type
Variable↗
Term
1 month↗
Minimum deposit
MGA 100↗
Access terms
On-demand 24/7 access from your mobile anywhere in Madagascar; interest calculated daily and paid each quarter between the 1st and the 10th of January, April, July and October; deposits count after 15 days, withdrawals same day↗
Monthly fee
MGA 0↗
Account kind
Easy access↗
Legal entity
MVola S.A.↗
Headquarters
Madagascar↗
Founded
2010↗
Support channels
Phone, Email, Help-centre↗
Pricing model
No monthly fee
Official website
mvola.mg

Loans

Loan amount
MGA 1,000 to MGA 4,000,000↗
Arrangement fee
8% to 12% dossier fee on the loan amount, collected on repayment↗
Funding time
2 minutes, credited directly to the mobile wallet↗
Representative example
A 30,000 Ar advance at a 9% fee is repaid at 32,700 Ar, including 2,700 Ar of fees, within 30 days↗
Lender type
Direct lender↗
Free early repayment
Yes↗
Eligibility
MVola subscriber with a certified MVola account, aged 18 to 70, using MVola services for at least 2 months↗
Origination fee (%)
8% to 12%↗
Loan types
Personal↗
Features
Travel

Personal insurance

Premium from
MGA 10,000↗
Monthly payments
No↗
Excess from
MGA 50,000↗
Cover limit
Death 800,000 MGA; permanent disability 1,000,000 MGA; treatment costs 200,000 MGA; third-party bodily injury liability 200,000,000 MGA; third-party property damage liability 20,000,000 MGA↗
Claims channels
Phone, Email↗

Debit cards

Card type
Debit↗
Card network
Visa↗

Facts checked September 26, 2026, 6 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
LinkedInbcorporation.net

Pros and cons

Pros

  • Headline rate of 8% on a variable rate, with interest calculated daily and paid each quarter
  • No monthly fee on the savings balance, so holding money costs nothing
  • Minimum deposit of MGA 100 keeps the account open to small savers
  • Personal loans of MGA 1,000 to MGA 4,000,000 are credited in 2 minutes, credited directly to the mobile wallet, and free early repayment applies

Cons

  • The rate is variable at 8%, so a change is always possible
  • Deposits start earning after a waiting period, and interest reaches you each quarter
  • Cover claims run on phone and email only, with an excess of MGA 50,000
MVola

Ready to try MVola?

Scored 8.9 / 10 by SumCue.

See alternatives

Who it suits

  • Savers who live on their phone and want same-day withdrawals from an easy-access balance
  • MVola subscribers who want a small personal loan alongside a savings balance
  • Customers who want one app for savings, a debit card and optional cover

Who should look elsewhere

  • Anyone who wants a fixed rate locked in for a set term, since the MVola rate is variable
  • bunq, whose headline rate of 3.01% is lower than what MVola pays
  • Wise, whose headline rate of 3.29% is lower than what MVola pays

How MVola compares

Where MVola is available

Available
Madagascar
Licence in Madagascar
Commission de Supervision Bancaire et Financiere (CSBF) (005-2021-CSBF), checked September 26, 2026
Licence in Madagascar
CSBF - liste des Banques et Etablissements Financiers (016/Ba/2021), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate does MVola pay on savings?+

MVola pays a headline rate of 8% on an easy-access balance, calculated daily and paid each quarter. The rate is variable, so it can move. The account carries no monthly fee, and the minimum deposit is MGA 100.

How do deposits and withdrawals work?+

The savings balance is managed from your phone with on-demand access. Deposits count after a short waiting period, while withdrawals are available the same day. Interest is calculated daily on the balance and credited each quarter.

What does MVola charge for fees?+

The savings account has no monthly fee. Loans carry a dossier fee of 8% to 12% on the loan amount, collected on repayment. The optional cover starts at a MGA 10,000 premium with an excess of MGA 50,000 on claims.

How fast can I borrow and repay?+

Eligible personal loans are credited in 2 minutes, credited directly to the mobile wallet, straight to the mobile wallet, with a term of 1. Early repayment is free. The worked example shows an advance repaid with the dossier fee added on top of the borrowed amount.

Who can apply for an MVola loan?+

You need a certified MVola account, to be a minimum age, and to have used MVola services for a waiting period first. Loan amounts run MGA 1,000 to MGA 4,000,000, and MVola lends directly rather than acting as an intermediary for personal loans.

Is MVola regulated and what else is in the app?+

MVola S.A. is based in Madagascar and appears on the banking and financial supervision commission register and its list of banks and financial institutions. The app also covers a debit card on the visa network, personal loans and MVola Assure, with support on phone, email and help centre.

Sources

Compiled from 7 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Deposit protection.

MVola

MVola

Saving a small amount by phone and keeping it available the same day.

8.9/10See alternatives