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Mangucash app is the app used for lending money in Uganda and can be downloaded from the Google Play and after downloading it you can open it at sign up using ur mobile number.
DOWNLOAD IT HERE
1. Which networks does Mangucash support?
Mangucash supports MTN,AIRTEL,GLO AND 9mobile networks at this moment
2.Can I delete my account?
Per the Terms of Service and Privacy Policy,they collect information from the person borrowing to determine whether he/she qualify for a loan. They do not sell or distribute this information for any other purposes and if you would like to discontinue your relationship with the mangucash you can uninstall the app
3. What is required to receive a Mangucash loan?
Requirements are simple – all you need to apply is your MTN, AIRTEL, GLO AND 9mobile phone number, BVN and answering few questions. We will also request access to the data on your phone in order determine your eligibility.
4. How does Mangucash make a lending decision?
Mangucash uses data from your phone, including your handset details and financial transaction SMS messages to make lending decisions. We combine this with your Mangucash repayment history to build an individualized credit score, which determines the loan offers you receive.
5. Why was I rejected for a loan?
If you don’t get accepted when you apply, don’t worry! Sometimes it may take several attempts to qualify for a loan. We encourage you to continue saving data on your phone and to reapply after the period stipulated.
5. How can I increase my chance of being accepted?
Mangucash uses data from your phone as well as other sources to make a lending decision. To increase your chances of approval, please make sure to save the data on your phone, keep good credit with all other lenders, and correctly input your account details
6. How much can u borrow from mangucash ?
Currently their loan sizes range from UGX 60,000 to UGX 400,000. If you repay loans as scheduled, the amount that you can borrow will increase.
7. How long does your application process take?
It may take about 10 minutes.
8. What interest rate does Mangucash charge u?
Interest rates are determined by a number of factors, including your repayment history with Mangucash and the cost of lending for us. Depending on these factors, the origination fee is charged 12% for a term of 180 days.
Borrowers are required to cover any mobile money transaction fees, such as Bank charges, associated with repaying the loan. Standard SMS and data charges by your mobile carrier may apply.
9. How to fill your family and emergency contact’s information?
Your family and emergency contacts are the person that can prove your reliability, credibility and honesty. We may contact him/her when we decide the loan. Please fill the contact’s information careful
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10.Repayment of the due date
Repay the loan by its due date allows you to access larger loan sizes. Late repayments will affect your ability to get subsequent or larger loans. If you are very late on your payments, we report to the First Central Credit Bureau. Blacklisting by the First Central Credit Bureau may affect your ability to borrow from other lenders.
11.Can u request to repay my loan at a later date?
Unfortunately, Mangucash cannot alter your repayment plan after you’ve received a loan. If you are unable to repay the full amount due, we advise you to start making partial repayments as soon as possible.
12.What is a First Central Credit Bureau?
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A First Central Credit Bureau collects credit information on individuals and can provide your repayment performance data to banks, lenders, and potential employers. First Central Credit Bureau help promote financial inclusion and prevent over indebtedness.
There fore mangucash app is the best android app to borrow money from in Uganda
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