How It Works
About MONEYMATE App
MONEYMATE is a peer to peer, closed user group, borrowing and lending platform tailored for salaried employees. MONEYMATE prides itself in being an end-to-end financial tech-centric solution offering mobile and bank ready, hustle-free loans and investments. MONEYMATE helps in short-term emergencies like school fees, fuel, hospital bills, transport just to mention a few.
What You Need To Know
- Your employer recommends you- no security needed.
- The process is short; simply download the MONEYMATE app.
- The app is available for download on Android and iOs platforms.
- You can get a loan in less than three (3) hours.
- The service is available 24/7.
- Both the INVESTOR and BORROWER should have TIN numbers.
- The maximum amount an INVESTOR can invest is UGX 10 million.
- The maximum one can borrow is UGX 5 million.
- Investing interest rate is 5% per month.
- Investment income is subject to withholding tax.
- Borrowing rate is at 10% per month.
- You may choose to borrow, invest or BOTH.
- Phone numbers for both the INVESTOR and BORROWER should be registered in their respective names as they appear on the national identity card and their registered phone number.
- The currency of transaction is UGANDA SHILLINGS.
- MONEYMATE is a product of Money Market Gurus Limited and regulated by the Uganda Microfinance Regulatory Authority.