How to apply for a mokash loan | step by step guide
Need to apply for a quick mpesa loan directly to your phone? Then you can apply for a mokash loan through their android app. Here are the steps to follow.
Mokash is a money lending application that is available on google play-store with a solid and constantly growing reputation due to its reliability and user friendly interface.
In these times of financial uncertainties or emergency situations, it feels like a good idea to have a reliable application that can get you out of testy financial situations and ensure financial freedom and liquidity whether for business or personal transactions.
The following easy steps ensure that you will have this back up at all times.
How to apply for a mokash loan
Follow these steps to apply for a mokash loan
- Open the google play-store and search for the key words “Mokash loan app”, “Mokash loan”, “Mokash for android”, “Mokash loan app download Kenya” or simply search on google for “Apply for a mokash loan” and download the application.
- Open the application and allow it the necessary permissions to verify your identity as well as your location.
- Enter your M-pesa telephone number and you will receive a verification code sent to your number. Please use it and keep it secret. Next, create a password of your choice which will be your login credentials for future transactions.
- Create your own personalized account by entering the required personal information. This includes your Identification Card name and number, your M-pesa transactions telephone number, employment status, your area of residence and two of your emergency contacts. Save this keyed in data as it is part of your profile. Agree to the terms and conditions.
- Proceed to the loans application page displayed. The calculated loan based on your profile will be computed and all the details including origination fees, cash back bonus and repayment dates and amount will be displayed here.
- Proceed to click on “Apply now” and await the SMS prompt that will be sent to the M-pesa telephone number you provided.
- The prompt SMS sent to your number will confirm the loan disbursed and this is estimated to take around 5 minutes.
Some questions are asked of the applicant during the account creation stage but these are simple questions that do not take up much time. They reason for the questions by mokash is identifying marital status as well as the salary range of the applicant if they are an employee of a public or private institution.
Mokash interest rate and repayment period
Mokash interest rate is favorable and competitive when compared to other applications as it offers loans at the rate of 20%.
The repayments begin on the 8th day after acquiring the funds.
Mokash is a valuable tool to have which is easy to use and with friendly interest rates. It is sure to positively impact the emergency situations that arise from time to time.