MoKash is a service that gives MTN customers the ability to save and borrow using their phones. Customers can save while earning an interest or take out short term loans. The service is a result of a strategic partnership between Commercial Bank of Africa and MTN

Saving with  Mokash Account


First you have to be a subscriber to MTN network with an active mobile money account.

You can schedule savings to happen automatically. You can choose between 3 options; daily, weekly or monthly. You can save any amount not less than  UGX 50.

Your Mokash savings earn interest as stipulated below

Amount Interest
          UGX 1 – UGX 300,000 2%
Between UGX 300,001 – UGX 800,000 3%
Between UGX 800,001 – UGX 1,600,000 4%
            Over  UGX 1,600,000 5%

Mokash Loan Facility

In order to qualify for a loan a customer needs to have been an MTN Mobile Money subscriber for a minimum of 6 months, save on MoKash and actively use other MTN services. In addition you should have paid off of all your outstanding loan balances in case you had any.

A customer can take a loan between UGX 3,000 up to UGX 1,000,000 depending on ones  loan limit. You have access to a loan of up to UGX 1,000,000. This depends on your loan limit. A customer has up to 30 days to pay up the loan. This loan is charged at 9% fee for the month. However, in case the loan is not paid within the 30 day period, the outstanding loan amount will be extended for another 30 days at a fee of 9%

Customers can borrow from a Minimum of UGX 3,000  to a maximum of UGX 1,000,000 depending on how much you have saved on your Mokash account and also one has been  utilizing MTN services which include: MTN Voice, MTN Mobile Money and MTN Data and also by how long the customer has been on the MTN network

What happens if the customer does not pay the loan within 30 days, what will happen?

  • If a customer has funds in their MoKash Savings account and/or their Mobile Money account, the loan shall automatically be repaid from these accounts in that order.
  • Any balance on the principal amount of the loan after attempted recovery will attract a roll-over fee of 9% and added to the outstanding principal amount of the loan balance.
  • The customer risks losing their credit limit and being blacklisted from MoKash The services include but are not limited to; Savings withdrawal, access to subsequent MoKash loans.
  • Information related to a customer’s repayment history will be shared with other lenders including Banks, through the private credit reference bureaus licensed by the Bank of Uganda. The customer may consequently be denied loans by other lenders based on the negative credit history.
  • The customer may be denied participation in future MoKash promotions and rewards.