Karibu M-Cash Loan
This is a mobile loan available to Amref Sacco members. To qualify for a loan, you need to have 3 months of active membership.
The loan has the following features:
- Maximum Loan amount KSh 50,000
- The credit limit will be graduated upward from KSh 20,000,30,000,40,000 to 50,000 depending on repayment history and credit scoring.
- The interest rate is as follows:
- KSh 20,000 and below, the interest rate of 7.5% one-off, and a maximum repayment period of 60 days.
- KSh 20,001 to KSh 50,000 interest rate of 8.5 % one-off and a maximum repayment period of 90 days.
- A default will lead to the member being barred for 6 months from accessing any other short-term loan products.
- No paperwork needed
- No guarantors required.
Download the Mobile Banking Registration Form
Submit the duly filled and signed form to email@example.com.
You will receive an SMS from AMREF_Sacco with details on self-activation.
HOW TO BORROW
• Dial *276* 30#
• Select option 1: Karibu M-Cash Loan
• Loan type: Mobile (note: type the word mobile and not your mobile number digits)
• Number of installments: 1
• Enter Amount (Maximum amount is 50,000 depending on your limit)
• Enter your pin (as set during self-activation)
PROCEDURE OF LOAN REPAYMENT
- Dial Go to your Mpesa Menu
- Go to Lipa na Mpesa
- Select Paybill
- Enter business number: 840300
- Account number: 30*Mobile (Note: type the word mobile and not your mobile number digits)
- Amount: Your outstanding loan amount.
- Enter your Mpesa Pin number and send
- Transfer Money to own or other M-Pesa
- Pay any Paybill (Including K.P.L.C, DSTV, ZUKU, and Nairobi Water)
- Savings and Loan Balance inquiry
- Check guarantors/guarantee status
- Buy goods and services
Download user guidelines here(Download Here)