The Head of Personal Banking, Miranda Bageine Musoke

dfcu Bank has launched an automated loan solution available to individual customers via the Bank’s online Banking Platform. The instant loan can be accessed using the Bank’s mobile app (Quick App), internet banking or USSD in less than five minutes.

The dfcu Mobi Loan is among several digital products and solutions that have recently been introduced under the Bank’s umbrella campaign dubbed ‘Banking at the Speed of U!”; to provide value and enhance customers’ experience.

Under the automated loan solution, customers can get a minimum loan amount of Shs 10,000 and a maximum of Shs 2,000,000. The acquired loans can be paid in a period of 30 days. All loans can acquired with 9% interest rate.

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The system is designed with one off repayment once the loan is due. It also comes with an option of early repayment with no penalties.

The Head of Personal Banking, Miranda Bageine Musoke, said dfcu Mobi Loan is in line with the Bank’s strategic pillar of developing winning customer value propositions through digitisation.

“With the dfcu Mobi Loan, we have harnessed the power of technology to deliver our services and products more efficiently to our customers. The Mobi Loan provides fast, dependable, and safe loans to individuals who do not have the luxury of time with respect to solving urgent matters,” Miranda said.

“We have stripped away a large chunk of the processes required in the usual mode of accessing of loans and created a seamless experience which we are confident, will be of great benefit to our customers, countrywide. As we head into the festive season and prepare for the reopening of schools early next year, it is important to us that our customers can rely on the dfcu Mobi Loan to take care of their urgent needs, at anyplace and at any time,” Miranda concluded.

With the Mobi loan product, dfcu Bank customers and eventually, non- customers will be able to access instant loans from as low as Shs 10,000 using their mobile phones.

The dfcu Mobi Loan is a short-term facility that helps customers to bring a temporary financial gap for emergencies that just can’t wait.