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 200,000
• The credit limit is gradually increased based on your repayment history.
• A flat rate of 8.5% is deducted upfront from the loan amount.
• Repayment Terms: The loan is payable in 3 equal installments.
• No Paperwork Required: The loan application process is entirely paperless.
• No Guarantors Needed: Enjoy a hassle-free borrowing experience.
• Loan Top-Up Option: Members can top up their outstanding mobile loan. Members can top up their outstanding mobile loans. To qualify for a mobile loan top-up, you must have repaid at least 50% of the existing loan amount. Top-up loans are charged at an interest rate of 8.5%, repayable in three equal installments

TO REGISTER

Download the Mobile Banking Registration Form

Submit the duly filled and signed form to info@amrefsacco.org.
You will receive an SMS from AMREF_Sacco with details on self-activation.

HOW TO BORROW VIA USSD

• Dial: *816#
• Select: Option 7 – Loans
• Check Loan Limit:
  • Choose Option 1: Check Loan Limit
  • Once you know your loan limit, return to Option 7 – Loans
  • Once you know your loan limit, return to Option 7 – Loans
• Choose Option 2 : Apply for a Loan:
• Select Option 1: Karibu M-Kash Loan
• Enter an amount within your limit
• Confirm the transaction
• You will receive an SMS confirming your loan application status.

HOW TO BORROW VIA AMREF SACCO APP

• Log In: Open your AMREF SACCO app
• Select: Loans
• Choose: Apply Loan
• Select: Karibu M-Cash Loan
• Enter Amount: Specify the loan amount
• Click: Apply Loan

WITHDRAWING FROM YOUR WALLET TO M-PESA VIA USSD

• Dial *816#
• Select: Option 2 – Withdrawal to M-Pesa
• Choose Account: Wallet Balance
• Enter Amount: (Check balance via Option 1 – Balance Enquiry)
• Enter PIN: Confirm your transaction

WITHDRAWING FROM YOUR WALLET TO M-PESA VIA THE AMREF SACCO APP

• Log In: Open the AMREF SACCO app
• Select: Withdraw Money
• Enter Amount: Specify the amount to withdraw
• Click: Withdraw

ALL MOBILE LOANS INCUR AN UPFRONT INTEREST OF 8.5%, AND WITHDRAWALS ARE CHARGED AT KES 60.

PROCEDURE OF LOAN REPAYMENT VIA USSD

• Dial: *816#
• Select: Option 7 – Loans
• Choose: Option 3 – Pay Loan
• Select Loan: Karibu M-Kash Loan
• Choose Payment Option: M-Pesa or Savings Account (Holiday, Mobile Wallet, Junior Savings, Property Savings)
• For M-Pesa: Enter the amount you wish to pay
• Review: Confirm the transaction details
• Enter M-Pesa PIN: You will receive an M-Pesa prompt
• Confirmation: An SMS from AMREF SACCO will confirm your payment

PROCEDURE OF LOAN REPAYMENT VIA APP

• Log In: Open the AMREF SACCO App
• Select: Loans
• Choose: Pay Loan
• Select Loan: Karibu M-Kash Loan
• Choose Payment Option: M-Pesa or Savings Account (Holiday, Mobile Wallet, Junior Savings, Property Savings)
• For M-Pesa: Enter the amount you wish to pay
• Review: Confirm the transaction details
• Enter M-Pesa PIN: You will receive an M-Pesa prompt
• Confirmation: An SMS from AMREF SACCO will confirm your payment

PROCEDURE OF LOAN REPAYMENT VIA PAY BILL 840 300

You can pay your mobile loan using a different number or pay for another member via M-Pesa using:

• PayBill: 840300
• Account Number: MEMBERNO-MOBILE eg 0000-MOBILE

Download the Mobile Banking User Guidelines below