Airtel Mobile Commerce Uganda limited, which is Airtel Uganda’s mobile money platform, has partnered with Housing Finance Bank and digital lending platform provider YABX to enable Airtel Money customers to access quick loans when they do not have sufficient funds.
The new feature, dubbed Airtel Quick Loan, enables customers to top up more money with which they can pay bills, at merchants and even send money. For instance, if you need to send UGX 50,000 to a friend, but only have UGX 10,000 on your wallet, you can get a quick loan to top this up.
How to get Airtel Quick Loans
To access the Quick loans service, Airtel money customers can dial *185*7*10# to opt In and check their eligibility. Once you are eligible, you will be asked to accept the terms of the service then you can get started.
A simple test of the service shows that if you are eligible, you can send money to another Airtel subscriber with a quick loan. You can also pay up for a TV subscription and Umeme Yaka!, and you are notified of the amount owed if you are getting another loan. This implies that the Airtel quick loans service is efficient.
Worth noting is that you need to first make the transaction, and get a failure notification. You will then be prompted to take a loan to foot the bill. You can take as many loans as possible within your limit.
You can still apply for Wewole loans
The new quick loans feature is different from the Wewole feature, and a customer can apply for both at the same time. To apply for a Wewole loan, you dial *185*8# from where you can get a loan based on your eligibility.