Do you want to buy your favourite smartphone, but financial constraints are holding you back? Most definitely, ‘Yes.’ You need not worry anymore since the Mkopa Loan plan covers you.
M Kopa Loan 2023
First, what is M-Kopa? M-Kopa is an asset financing platform partnered with Safaricom that provides access to life-enhancing products and services to millions of underbanked customers in countries such as Kenya, Nigeria, and Uganda.
M-Kopa offers a wide range of products and services with a well-defined financing plan. Some major products and services include intelligent phones, cash loans, M-Kopa Solar, and television.
This article will explain how to apply for phone or cash loans, online applications, the M-Kopa repayment pay bill, and M-Kopa customer care. Let’s get started.
DO READ – Unlock M-Kopa
How to Apply For M-Kopa Phone Loan
You may want to buy a new phone but don’t have the total amount. Things are now more manageable with the M-Kopa Phone Loan plan. You can take a phone with a small deposit and make small daily payments as specified on the product. Remember, the amount of the deposit and daily instalments depends on the type of phone and the overall price. Applying for a phone on loan is easy; let’s take the example of the Nokia 2.4 Smartphone.
To apply for the phone, call M-Kopa on 0707333222 and ask for the phone you want. Make sure you answer the questions asked correctly. When you qualify for the loan, you must agree to M-Kopa’s terms and conditions before being handed the phone. For Nokia 2.4, the payment plan is as shown below.
- Deposit Kes. 3,499
- Pay a daily instalment of Kes. 5o.
- The duration of the plan is 365 days.
- The total Loan is Kes. 21,749
Some other phones offered by the M-Kopa Phone Loan plan are;
How to Pay M-Kopa Phone through Paybill
Mkopa phones are paid using the Mkopa Official Paybill. Mkopa Paybill’s number is 333222. To pay for your phone loan plan, follow the following process;
- Go to the M-Pesa menu.
- Select Lipa Na Mpesa
- Select the Pay Bill option
- Enter Mkopa business number, 333222
- Enter business number
- Enter the Account number as the ID you registered with M-Kopa
- Enter the amount to pay.
- Enter your Mpesa PIN
- Tap on Send
What happens when you fail to pay instalments for your M-Kopa Phone?
Before being handed over the product, you must agree to M-Kopa Terms and Conditions. M-Kopa has trackers for device usage and monitoring payments. Therefore if you fail to meet your obligations as per the contract, M-Kopa will deactivate your phone until you make payment. This penalty applies to other products such as M-Kopa solar and M-Kopa Television.
Now, you may ask yourself, what if my product is stolen, lost or damaged? Well, in the contractual agreement, you have first to agree that even if your product gets lost, stolen, or damaged, you will still have to settle the credit fee and the total price for the product you lost; this applies when your product is out of warranty.
M-Kopa Cash Loan
Mkopa also provides cash loans to qualified customers. Mkopa introduced a new cash loan product known as SOLAPESA.
These loans are available to exist M-Kopa customers with good repayment history on their previous loans and products. The amount that you can apply for ranges from Kes. 5,000 to Kes. 7,000. However, there are requirements to be granted the loan.
First, you must be a customer with M-Kopa solar account and good repayment records for previous products.
To apply for the loan, send the word ‘Loan’ to 22624 and wait for M-Kopa to contact you. You will be informed by M-Kopa customer care whether you qualify for the loan or otherwise.
M-Kopa Customer Care
M-Kopa has customer care call centres in every country where they operate. For Kenya, Mkopa call centres remain open daily from 7:00 am to 11:00 pm. The customer care contacts are as given below;
- 0323522000 – MTN
- 0200522000 -Airtel
- SMS Line – 7778
Other contacts options for M-Kopa customer care are;
Whatsapp number – +254799136761
Contact M-Kopa Customer Care today to get your issues addressed. Find the answers you have been looking for.
m KOPA Loan FAQs
What is m Kopa?
M-KOPA is a linked asset finance platform that provides access to life-enhancing products and services to millions of underbanked customers.
What are some of the common products available on M-kopa kenya platform?
Mobile Phones, Solar products, Financial services & Home upgrade products.
Last Updated on December 28, 2022 by Okello
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