Airtel fast loan

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Quick loans and money lending by all accounts are on the rise right now. As the country recovers from a pandemic and millions of Ugandans search for cash, telecom-powered fast loans are the best alternative. Airtel Uganda with a fintech start-up YABX has set up a credit service called “Airtel fast loan” to help customers during the recession.

But how is this service different from other credit services offered by Airtel, and where do you start? Let’s go over all the facts in our explainer as we digest the news Airtel fast loan credit department.

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How to Apply for Airtel Quick Loan?

  • Dial *185*7*10# and press OK to access the main menu option
  • Choose Option 1 for “Ready fastand enter your Airtel money to opt for the credit service.
  • If you are eligible to join the service, you will receive a welcome message and be able to access the main quick loan menu.

Keep in mind that as with all credit services provided by Airtel, not all phone numbers are eligible for loan and Airtel has criteria on which numbers to offer which service. But in summary, if you are not eligible for Airtel fast loan, you will need to continue using Airtel money and other company services and regularly check if your phone number is eligible.

How to use Airtel fast loan service?

Unlike other lending services offered by Airtel, the quick lending service is used if you have insufficient balance in your Airtel Money wallet when sending money, making merchant payments, bill payments or data plans and airtime purchases using your mobile money account.

Here is an example of how you can use the quick loan service to send money when you have no funds in your Airtel wallet;

  • Dial *185# and select Option 1 i.e. send money
  • Choose the telecommunication network and enter the mobile number
  • Enter the amount you want to send and confirm transactions with your Airtel money PIN.
  • If the mobile money balance is insufficient, wait until Airtel fast loan menu to continue and complete the transaction.

The process is the same for other services such as bill payments, merchant payments, airtime and data plan purchases. You will only have access to the fast loan menu in the last part of the conclusion of the transaction.


READ ALSO: Airtel Super Saver explained, how to save up to 500 UGX with Airtel?


What are the fees and charges on the loan?

Airtel charges a 2% application fee and 1% interest on the unpaid amount every day for 15 days.

For context, you will need to repay 58,500UGX when you borrow a loan from 50,000UGX after 15 days. Here is the detail of the fees and charges on your Airtel fast loan. Keep in mind that when you prepay the loan, the interest on the unpaid amount decreases and you pay less interest.

Amount borrowed Registration fees interest
50,000UGX 1,000 7,500

How to check your loan limit and repay your loan?

  • Dial *185*7*10# and press OK to access the main menu option
  • Choose Option 1 for “Ready fast” and enter your Airtel money.
  • To check your loan limit, select Variant 4 to “check limit”.
  • To repay your loan, choose Option 2 for “Repay the loan”. Enter the amount you want to refund and follow the prompt.

What is the difference with Wewole?

Quick Loan is not like Wewole where the loan reflects in your mobile money account, you can only access it when you have insufficient balance in your account when trying to pay or access a service.

Have we answered all the questions you need to know about Airtel Quick Loan credit service? Let us know in the comment section if there’s a question we need to answer?

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