Products

Mobile-Loan Facility

Key features

Mobile Loan Facility (MLF) is a short term loan available to existing and former asset finance loan clients that have completed or are about to complete their asset finance loans. As a pre-requisite for MLF, the client must have a good payment record for existing or previous Watu Credit loans.

Loan amount

Determined individually

Loan Application

Via mobile short code #876* after the client is pre-approved

Duration

Up to 3 months

Interest method

Flat

Interest rate

7% per month

Repayment Frequency

Monthly

Extendable

No

Repayment Method

Mpesa transfer

Eligibility

  • National ID for borrower;
  • Good credit history and current standing;
  • Insured and traceable collateral asset.