Mpowa Finance

FAQs from Mpowa Finance

How quickly can I get the money?

If your application and documents are in order, expect the cash to land in your account by 5 PM the same day—a major win for last-minute needs.

What do I need to qualify?

You must be 18 or older, based in South Africa, employed for at least 3 months (our payslip thrill-test!), plus have a valid bank account and ID.

What are the interest and fees?

First loan of the year: ~4.5% per month (+ R165 + VAT up to R1,000 / 10% over that) and a R60 monthly service fee. Repeat loans: ~3% per month with the same service fee.

Can I repay early or borrow more next time?

Yes — there are no penalties for early repayment. Plus, after 3 successful repayments, you can request a higher loan amount next time.

What happens if I miss a payment?

Mpowa will first reach out to reschedule. If efforts fail, they’ll hand the account to a debt collector and your negative payment history could impact your credit score. So always stay on top of your repayments!