MGODI-FAQ

1. What is a MGODI?

MGODI is a financial service that helps Vodacom customers to save and LOAN a long period of up to 30 days. This service is provided in collaboration with Diamond Trust bank Bank (DTB).

1. Who is eligible to use MGODI loan? 

All Vodacom customers who have been using M-Pesa for more than 6 months can use the service MGODI and enjoy the SAVINGS and LOANS service. 

NB: Creditworthiness will depend and vary from customer to customer. 

1. How will the customer join the MGODI service? 

Dial *150*00#  > Choose 5 LOANS AND SAVINGS > Select 3 “MGODI” > Select 1 “Yes” to accept the terms and conditions >  Enter M-pesa Password You will receive a confirmation message to join the Mine service. 

1. How will the customer get a loan from MGODI? 

Dial *150*00# > Choose 5 LOANS AND SAVINGS > Select 3 “MGODI” Select 1 “Loans” > Select 2 “Request a Loan” Enter the amount Enter the M-Pesa PIN You will receive a confirmation message that your request has been received with an SMS message your credit information.

1. What are the costs of MGODI loans? 

The customer will pay the cost of 14% if he takes a 30-day loan from MGODI If the loan remains unpaid for 30 days, a penalty of 5% will be added to his debt the rest. The customer can move forward the time to pay his debt and he will pay the cost of 9% of the loan his original 

1. Why should I choose to extend the payment term of my MGODI loan?

 MGODI allows the customer to advance the payment date of his loan at a cost of 9% deducted from his M-Pesa balance. C2 General Doing so saves the customer from reducing his borrowing rate from MGODI. 

1. How to pay MGODI loan 

Dial *150*00# Choose 5 LOANS AND SAVINGS Select 2 “MINE” Select 2 “Refund Loan” Choose whether you want to "Pay the entire loan" or "You want to pay the rest of the amount" Enter the amount Enter 1 to Confirm Enter the M-Pesa PIN 

1. How to check the loan amount you are eligible to borrow. 

Dial *150*00# Choose 5 LOANS AND SAVINGS Select 3 “MINE” Select 1 “Expense level” You will receive a message with information about the loan you are eligible for. 9. How can a customer request for Outstanding Loan balance? Dial *150*00# Choose 5 LOANS AND SAVINGS Select 3 “MINE” Select 5 “Loan Balance” Enter the M-Pesa PIN The customer will receive an SMS message with information about his MGODI loan debt