What we Know about the Mokash loan app
[Update : 29.07.2021]
Mokash loan app is registered under a company called Mocash. We are assuming here that the company rebranded even though the Facebook site is still up and running under the same name.
We know that Mocash was a previous mobile lending company that charged Ksh 280 upon registration, but many of their clients have expressed concerns about not receiving any service from them.
For purposes of the specific Mokash we are looking at, we took the liberty to highlight the link for you. You are welcome. Most information about the Mocash/ Mokash loan app will take you down a rabbit hole of similar lending companies bearing the same name but with different branding.
Kashy advises that you tread carefully on this one. Call the customer service lines and confirm which Mocash/Mokash you would like to dance with. For your own safety, before you make any transaction, do some due diligence.
How much is the exact cost of a loan from Mokash & a representative example?
Interest rates for Mokash range from 20%P.A to 36% P.A. Their borrowing limits fall between Ksh 2000- Ksh.30,000 with a repayment period extending up to a year.
A look at the Mokash representative example on the exact cost of a loan looks like the below simple math;
For Ksh 2000 on a period of 365 days, the total interest that must be paid after deducting the origination fees will be 2000*165=% = Ksh 320.
*Calculations may be indicative. Please contact Mokash for true figures.*
Where can you download the Mokash loan app?
The Mokash loan app, like most of its counterparts, can be downloaded from the Google Play store. Unfortunately, Apple store does not support this loan app and there is no USSD option as well!
How can you get a loan from Mokash?
To get a loan from Mokash you first need to:
- Download the app from the Google play store,
- Register with your details, and get a loan limit.
- Enter the amount and wait for monies to be deposited into your Mpesa account.
Second, you will need to fit the following criteria to access a loan from Mokash:
- Be at least 18 years old,
- Have a valid ID,
- Registered Safaricom subscriber,
- Give access to phone data.
- Be of 20+ years and above.
Disbursement and Repayments at Mokash.
Once you borrow from the Mokash app, you will receive your money within minutes and the amount borrowed will be the amount received.
Came into some quick cash and you would like to clear your debts with Mokash? The MoKash loans provided are repayable within 7 days from the date of disbursement.
You can pay from within the app. Subsequently, you can use the pay bill number for Mokash loan which is 402369.
After the reconciliation of all payments, should you have overpaid, the excess funds will be reversed to your M-PESA account within 15 days.
Offers, Promotions and Rewards from Mokash.
We could not find any current promotions or reward from Mokash at the moment. However, within the app, once you apply for a loan limit, the Mokash people will offer you a cashback on the loan amount should you repay what you borrow on time.
There is also airtime bonuses that might be available.
What are the penalties for late repayments at Mokash?
Late MoKash loan repayments automatically incur a fee of 2% per day as well as an inability to get subsequent or larger MoKash loans.
Is my information with Mokash safe & secure?
This is what Mokash will have access to when you download their app.
- Contacts- read your contacts and modify your contacts.
- Location- approximate location (network-based) and precise location (GPS and network-based)
- Phone- read phone status and identity.
- Photos/Media/Files- read the contents of your USB storage and modify or delete the contents of your USB storage.
- Storage- read the contents of your USB storage and modify or delete the contents of your USB storage.
- Camera- take pictures and videos.
- Wi-Fi connection information- view Wi-Fi connections.
- Device ID & call information- read phone status and identity.
The company website for Mokash will redirect you to an error page. However, if you would like to take a look at the fine print of what it means to download the app and are worried about your data, have a looksie at their privacy policy.
Contacts for Mokash.
Via Facebook, the handle for Moakash is @MoKash. Unfortunately, Mokash is unavailable on Twitter or Instagram.
To contact them directly, you can try them via Whatsapp using 0110 835 101.
Alternatively for queries and complaints, use this email: [email protected].
OKash vs other mobile lenders
kwota:
od 500.00 zł
do 20000.00 zł
okres:
do 1 dnia
do 30dni
kwota:
od 2000.00 zł
do 30000.00 zł
okres:
do 21 dni
do 30dni
kwota:
od 500.00 zł
do 10000.00 zł
okres:
do 2 dni
do 30dni
kwota:
od 2000.00 zł
do 10000.00 zł
okres:
do 14 dni
do 14dni
kwota:
od 500.00 zł
do 10000.00 zł
okres:
do 21 dni
do 30dni
kwota:
od 500.00 zł
do 50000.00 zł
okres:
do 1 dnia
do 30dni
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