DFCU Mobi Loan: How It Works and What You Need to Know

• DFCU Bank has introduced an automated loan option called DFCU Mobi Loan. Consumers can access the loan through DFCU QuickBanking, the bank’s online banking platform.
• Key product features of the DFCU Mobi-Loan
• Requirements for the DFCU Mobi-Loan
• Can anyone access the DFCU Mobi-Loan?
• How to Apply for the Mobi-Loan
• How quickly can money be credited to a customer’s account?
• Benefits of the DFCU Mobi-Loan
• What occurs if a customer does not make the Mobi Loan payment by the due date?
• What to do if you don’t have a loan limit
• Conclusion

DFCU Bank has introduced an automated loan option called DFCU Mobi Loan. Consumers can access the loan through DFCU QuickBanking, the bank’s online banking platform.

The DFCU Mobi Loan is an automated loan option that was introduced by DFCU Bank. Individual customers can access the automated lending solution using the bank’s online banking platform (DFCU QuickBanking). 

Customers can now apply for fast short-term loans without putting up any security and repay the loan from the comfort of their homes or at their places of work.

In less than five minutes, the immediate loan can be accessed through the Bank’s mobile app (Quick App), internet banking, or USSD.

Key product features of the DFCU Mobi-Loan

The mobi loan is a provisional service that aids clients in filling a short-term financial gap for unexpected crises. Down below is a list of the key features:

• Minimum loan amount of 10,000 Shillings and maximum loan amount of 2,000,000 Shillings
• 30-day loan repayment period
• Once the loan is due, a single payment (bulk payment) is made.
• Includes a penalty-free early payback option.

Requirements for the DFCU Mobi-Loan

To qualify for the DFCU Mobi-Loan, you must meet the following criteria;

• Keep an active client account where transactions occur frequently to get a strong turnover.
• Dfcu Bank personal account maintained for at least six months.
• Possess a good credit history.

Can anyone access the DFCU Mobi-Loan?

Clients of DFCU Bank are currently able to purchase the product; soon, the bank hopes to make it available to other customers as well. 

The mobi loans are available to qualified customers with a solid, consistent history of account performance.

How to Apply for the Mobi-Loan

DFCU’s digital banking channels offer loans. Customers must therefore be registered for DFCU Online Banking (Quick Banking) to apply.

• Customers can log in via the Internet (https://internet.dfcugroup.com)
• Through the Dfcu Quick APP
• Use USSD *240#

Upon logging in, you choose the “mobi loan” menu, start an application for a loan, and then follow the on-screen instructions.

How quickly can money be credited to a customer’s account?

Funds will be credited to your account in five (5) minutes, and SMS confirmation of the disbursement with information on the loan amount and due date will be delivered to your phone.

Two SMS notifications will be sent to you: one will reflect the credit of the loan amount into your account, the other will confirm the loan’s successful disbursement, and both will include the loan’s expiration date. 

This confirms the successful application of the DFCU Mobi-Loan.

Benefits of the DFCU Mobi-Loan

• Customers can acquire a loan without having to sign anything; it is hassle-free.
• Using fast banking technology, access is quick and simple.
• There is an option to repay early without incurring additional fees.
• To access the loan, no collateral security is necessary.

What occurs if a customer does not make the Mobi Loan payment by the due date?

• For each day the loan is late, you will be charged 1% of the outstanding principal as a daily penalty. This will be in effect for fifteen days.
• Your credit score and future creditworthiness will be impacted by the Credit Reference Bureau listing you as a defaulter.
• In the future, you won’t have access to a Mobi loan.

To avoid all this, it’s best to make an early loan repayment. It’s all at no extra cost. Simply log in to the DFCU quick banking platform, click early loan repayment from the mobi loan menu, and then follow the on-screen instructions. 

You’ll receive an SMS notification congratulating you on paying off your loan once it’s done.

And, if the last MobiLoan has been repaid, you are allowed to borrow as often as you like each month.

What to do if you don’t have a loan limit

• By making more deposits and transactions, your dfcu bank account will see more activity.
• Repayment of your DFCU Mobi loans on time and in full.

Conclusion

With the help of the DFCU Mobi Loan, DFCU Bank can provide its customers with services and goods more quickly. 

Mobi Loan offers quick, dependable, and secure loans to people who don’t have the luxury of time when it comes to taking care of urgent issues.

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