MGODI PRODUCT OVERVIEW

Created by Borry Kihemba, Modified on Wed, 6 Mar, 2024 at 5:48 PM by Borry Kihemba


Product 

Digital  Consumer Term Loan 

Channels Available 

USSD or Mobile App

Loan Tenure 

30 Days 

Credit Limit 

Based on customer’s credit score. 

Scorecard is based on customer’s transactions & CRB score

Charges

- Monthly Interest -19% for any new customer onboarded,depending on the behaviour of the customer the interest will drop accordingly down to 12%

Rollover Fee/Penalty-5%

- Extension Fee-9%                          

Repayment/ Collections 

- Voluntary payment from their Mpesa account before due date

- Auto Strike Deduction from Customer’s Mpesa wallet when the loans reach 30+ DPD 

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