Visit an MTN Store and sign up
for MTN Mobile Money. Deposit GHc 10 into your Mobile Money account then dial *565*5# and follow the prompts.
One month after registering, make a 2nd deposit of GHc 10 into your Mobile Money account. Two months after registering, make a 3rd and final deposit of GHc 10 into your Mobile Money account.
In just two short months, you
can receive your first loan of up
to GHc 100. Over time, you can borrow up to GHc 2500 based on how often you use mjara loans.
*To be eligible for mjara, you must have the same mobile number for 6 months or more
The more you use mjara, the more you can borrow!
To qualify for a mjara loan, you must pay a registration fee of GHc 30.
It is collected in 3 instalments of GHc 10:
These three payments demonstrate that you keep your mobile money account filled when bills are due. Once the registration fee is paid in full, you can take loans starting at GHc 100. Your registration fee provides you with a lifetime membership with mjara!
mjara Loans will add a small fee for each loan to cover processing and interest costs. The loan fee is 6% per month, which includes interest rate and processing fee.
You can choose to make weekly or monthly payments towards your loan. Your MTN Mobile Money wallet must have the amount due loaded by the due date to avoid penalties.
When you take out a loan and select a loan term, the due date will be displayed on your phone. You can also check when your loan is due by dialing *565*5# and visiting My Account. Full instalment of the repayment amount is due on the same day of the following week or month.
Loan is taken on June 5 with a weekly installment plan.
You have the option of weekly or monthly repayment schedule. In this example payments are due weekly on Thursdays.
The loan is due based on your loan term. In this example the loan due date is 4 weeks from when the loan was taken, also on a Thursday. You can take out a loan for as little as 2 weeks or as long as 3 months.
Loans taken out with mjara are required to be repaid according the term and loan repayment schedule selected.
mjara loans are repaid through an automatic deduction from the borrower’s MTN Mobile Money account. If the funds are not available in the borrower’s Mobile Money account by the due date, the borrower will be charged a penalty of 2% of the outstanding amount per day.
If a loan is in default, the borrower cannot access additional loans through mjara until the loan is repaid. Borrowers may also be subject to additional penalties under the law including fines, credit bureau reporting, blacklisting, posting of the borrower’s name on the mjara website, and submitting borrower information to other banks in Ghana.
MTN Mobile Money allows you to enjoy the ease and convenience of paying for services such as MiLife insurance, DStv, ECG bills, airtime, or signing up for mjara loans. Ensure that you have sufficient funds in your Mobile Money wallet to contribute to your mjara loans account.
It's easy and free! Simply register through any MTN Mobile Money Authorized Merchant, an MTN Service Center, or at Partner Bank Branches. You can also register with a Mobile Money Field Agent or mjara Loans Representative.
"I have been a customer of
mjara for some time now and I have
nothing but good things to say
about the company. They are true to
their word and are helpful anytime I
apply for a loan. Call on them for all
your short-term financial needs."
- Doku, 37, Driver, Madina.
"I have taken out two loans with
no hassles. All I have to do is dial a
short code. Registration was simple
and cheap.I recommend mjara!!"
- Favour, 35, Seamstress, Circle.
"mjara is very intriguing and
simple to use. Doing transactions
via mobile money makes me feel
very secure. I am very eager to
work with them."
- Patience, 40, Petty Trader, Makola.
or call 0540800222
to speak with one of our agents