When it comes to online lending services, ManguCash is among the top players in Uganda.
If you need instant loans to meet your urgent financial needs, ManguCash is an option to consider. ManguCash offers collateral free loans to users to enable them to cater for their personal or business needs. Amazingly, their loan app is pretty simple to navigate because it has a user-friendly interface which is top notch.
In this blogpost, we shall be discussing the requirements, application process, loan amount, loan tenure and the interest rate of ManguCash loan. Stay tuned as we walk through it together.
Is Mangu Cash Legit?
YES. Mangu Cash is legit.
It is one of the reliable and convenient digital lending platforms in Uganda. As a matter of fact, it is among the top 15 online lending platforms in Uganda that gives users financial peace of mind by helping them to sort out their quick financial needs.
In as much as ManguCash is legit, we know that financial companies are liable to change overtime. Hence, we strongly recommend that you carry out independent due diligence about their financial services to understand their modus operandi before opting for their services.
Requirements For ManguCash Loan
To be eligible for a ManguCash loan, applicants are expected to meet some eligibility criteria. The requirements are outlined below:
- The applicant must be resident in Uganda.
- You must be between the age range of 20 – 60 years.
- Functional bank account with a Bank Verification Number(BVN) is a must.
- You must also have an active phone number.
ManguCash Loan Amount
The loanable amount by ManguCash is not fixed because it varies depending on your creditworthiness and other factors.
However, the ManguCash loanable amount ranges from UGX 60,000 – UGX 400,000.
It is pertinent to note that the exact loan amount that will be disbursed to your account is normally lesser than the loan amount that you are qualified for because they will deduct their service fees before disbursing the loan to you. For instance, if you’re qualified for a UGX66,000 loan amount, you’ll only get UGX45,000 disbursed to your account.
ManguCash Loan Interest Rate
The ManguCash loan interest rate is pegged at 30%.
It is important to note that this interest rate is relatively high when compared to their other digital lending platforms in Uganda. Please be guided!
ManguCash Loan Term
The ManguCash loan tenure is relatively small, it is not really flexible.
Their loan repayment plan ranges from 8 – 14 days.
Apart from the fact that the loan tenure is relatively small, ManguCash debt recovery will contact you via call or SMS a day before the due date for your loan repayment. And if you fail to pay off your loan on the due date, you’ll be charged extra 2% fees daily.
How To Apply For Mangu Cash Loan Online
Applying for Mangu Cash loans online is pretty easy and straightforward. To apply, follow the procedures below:
- Download and install the ManguCash loan app from Google Play Store.
- Register an account to get started .
- Enter your family emergency contact details.
- Select the loan product that suits you and apply.
- If you’re eligible, the loan amount will be disbursed to you in a matter of time.
Mangu Cash Whatsapp Number
If you want to chat with Mangu Cash staff for inquiry, you can chat them up via their whatsapp handle on (+256) 740 032 364
Mangu Cash Uganda Contacts
For questions and inquiries, you can reach out to ManguCash customer unit via their handles listed below:
Call: (+256) 776 913 124 or (+256) 741 241 337
Address: 5 Kafu Rd, Kampala, Uganda
ManguCash Loan Review
Just like other lending platforms in Uganda, users of ManguCash loan platforms have diverse views about the financial services offered by the platform.
Some users expressed satisfaction with the loan disbursement process while other users frowned at what they termed outrageous interest rate and processing fees.
In terms of calling borrower’s contact, ManguCash debt recovery is fond of calling borrowers even before the due date which some of their customers are not happy with. Not only that, in some scenarios, they may go as far as calling your family emergency number which is really insulting to some of their borrowers.
While ManguCash loan platform is a big player in Uganda’s digital lending space, it is important to understand their terms and conditions before opting for their loaning services.
Their application is quite simple but if you experience any hitches during the application or you want to inquire more about their services, do not hesitate to contact their customer support unit for assistance.
Borrow responsibly and spend wisely!