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Log in with your ID number, phone number and a code sent by SMS.
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Continue an application if your internet connection stops
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Sign digitally, even if you do not own a smartphone
Register to apply for your first loan
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How can we help you?
Hereby our answers to frequently asked questions.
How much can I borrow?
You can borrow a loan amount between 100.000 - 2.000.000 RWF depending on your crop. Your income should be at least twice as the loan amount you are requesting.
Do I need a Guarantor to get a loan?
You need to be part of a cooperative. The cooperative needs to act as your guarantor.
Do I need to have a smartphone to get a loan?
You do not have to own a smartphone. You can use a smartphone of someone else. However, you need to have a mobile telephone number which you need to enter during the registration process.
Do I need to have a bank account to get a loan?
You don't need to have a bank account. You can receive the loan amount in your mobile wallet.
Do I need to have collateral to get a loan?
You don’t need to have collateral to qualify for a loan.
How much is the interest rate?
The interest rate differs per loan amount and crop, it may vary between 8.9% and 21% on an annual basis.
When can I receive my loan?
You will receive the loan amount once both the cooperative and MoneyPhone have agreed upon the request.
When do I have to repay the loan?
You will have to repay 6 months after receiving the loan amount. Except for maize, it is after 8 months, and for coffee it is after 10 months. You can repay the total amount at once.
Can I get another loan while my current one is still running?
No, you must finish paying off your current loan before you apply for a new loan.
Can I borrow money for someone else?
No, you should not borrow money for someone else. The loan is registered on your name and you are the one responsible for payback. You can help another person filling in the questions, but the person who is receiving the loan is the one whose information is needed and the one who needs to sign the loan contract.
Can I get the loan amount in cash?
No, the loan amount will be put on a bank account or mobile wallet if you are granted a loan.
How do I need to pay back the money?
You can pay back at the end of the season, before the maturity date of your loan, using your bank account or mobile wallet.
What happens if I can't pay back?
You need to pay back. If you don’t have the money you should contact MoneyPhone as soon as possible to avoid penalties going up.
What if my Cooperative doesn't want to be my guarantor?
You need to have your cooperative guaranteeing the loan. If the cooperative doesn't want to be your guarantor, you don't qualify for the loan.
Who can qualify for a loan?
To be eligible for a loan, you must meet the following criteria:
- You must be at least 18 years old.
- You should be actively engaged in farming.
- You must be a registered member of one of the listed cooperatives.
- You are required to provide production information for at least two previous farming seasons, demonstrating your experience and commitment to farming.
- You have a bank account or mobile wallet
- You should not have any non performing loans with any financial institution.
Can I make a change in my application after I submitted?
You can change all details before you submit the loan. After submitting you can't go back to the form to change something. So please, check everything before you submit. After submitting you can contact us via +250788331760 and info@money-phone.com or request a change via your cooperative.
Notice on Mobile Number Portability
MoneyPhone services remain linked to your registered mobile number, even if you change mobile network operators while keeping the same number. Questions or issues related to Mobile Money wallets, Mobile Money transactions, wallet access, or number porting should be addressed to your Mobile Money provider or mobile network operator, as these services are managed by those institutions and not by MoneyPhone.
