How do I borrow money from Airtel Malawi?
If you are looking for an instant loan and you are a subscriber with Airtel Malawi, congratulations there is good news for you because Airtel Malawi in collaboration with the FDH Bank has introduced an Instant Loan Service they believe will help their client in times of need. Generally, they understand that in normal cases, people go through short term financial challenges that they always need to quickly address, Airtel introduced Airtel Money Kutchova Loans. The article answers the question How do I borrow money from Airtel Malawi?
This service will provide financial assistance with a reduced interest rate compared to the Banks and other Lending Services in the Country. The loan comes without collateral, you just have to make payments on time to be eligible for another loan when you need it. To borrow from Airtel Malawi all you need is a phone and an account with Airtel Money and you can request a loan anywhere you are in the country without any paperwork. Simply Dial *211# to access the Kutchova Menu.
Eligibility Criteria for Airtel Malawi Kutchova Loans
- To be eligible you have to be a subscriber for not less than 6 months
- Payback on time to qualify for another loan.
- Keep on using the Airtel Money Services to increase your loan limit.
Airtel Malawi Kutchova Loan Maximum and Minimum Amount
- The maximum amount is MK80,000
- The minimum amount is MK500
How long do you have to pay back the Loan Airtel Malawi Kutchova Loan?
After you qualify for a loan and receive one you have 15days to pay back starting from the date of disbursement or will pay an additional percentage of up to 2.5%.
Airtel Malawi Kutchova Loan Charges
- 10% of the loan amount (when repaid within 15 days)
- 2.5% penalty on the outstanding loan amount when repaid after 15 days (making 12.5% total charge
- Note: 2.5% interest will be added to the outstanding loan every 15 days that the loan remains unsettled.