| Interest Rate | 20% |
| Duration | From 7 Days |
| Access Level | Public |
| Company Name | MOJI LOAN DEV |
| Phone 1 | +233 50 363 5149 |
| Phone 2 | |
| Website or Store | |
| Address | Gokhale Rd, Jinja, Uganda |
| Category | Dangerous Loan |
| Company Email | Monifiwugandsevice@outlook.com |
| Views | 287 |
Step by step guide to break free from loan apps
About Monifi
Looking for a fast, reliable, and licensed loan app in Uganda? Monifi offers instant personal loans ranging from 100,000 UGX to 500,000 UGX with flexible repayment terms. Whether you need funds for emergencies, business, or personal expenses, Monifi provides a secure and transparent borrowing experience.
Why Choose Monifi Loan App?
✅ Quick Disbursement – Get approved and receive funds in as little as 24 hours
✅ Low Interest Rates – Maximum APR of 24%, ensuring affordable repayments
✅ No Hidden Charges – Transparent fees with 0% transaction fees
✅ Secure & Licensed – Your personal data is encrypted and protected
✅ Flexible Loan Terms – Repay between 91 days to 365 days
Loan Details & Example Calculation
Loan Amount: 100,000 UGX – 500,000 UGX
Loan Term: 91 days (shortest) – 365 days (longest)
Maximum APR: 24%
Service Fee: 10% – 20% (depending on loan amount)
Third-Party Channel Fee: Applicable (varies by provider)
Transaction Fee: 0 UGX
Example Loan Breakdown:
If you borrow 50,000 UGX for 12 months (360 days) at 24% APR:
Total Interest: 50,000 × 24% = 12,000 UGX
Service Fee (10%): 50,000 × 10% = 5,000 UGX
Total Repayment: 50,000 + 12,000 + 5,000 = 67,000 UGX
Monthly Installment: 67,000 ÷ 12 = 5,583 UGX
Key Features of Monifi Loan App
✔ Fast Approval – Submit your application and get funds quickly
✔ Data Security – Encrypted personal information for safe transactions
✔ 24/7 Customer Support – Friendly assistance whenever you need it
✔ Easy Application – No collateral or lengthy paperwork required
Eligibility & Requirements
To qualify for a Monifi loan, you must:
Be a Ugandan citizen
Have an active phone number
Possess a valid government ID
Have a stable source of income
Be aged between 18 – 60 years
How to Apply for a Loan in 4 Simple Steps
1️⃣ Download & Register – Install Monifi app and sign up with your phone number
2️⃣ Fill Application – Provide necessary details and submit your loan request
3️⃣ Get Approved – Wait for fast verification (usually within 24 hours)
4️⃣ Receive Funds – Once approved, the money is disbursed directly to your account
Expert Counsel
Loan Agreements in Uganda: Understanding Your Rights
Under Ugandan law, loan agreements can be deemed invalid or unenforceable in certain situations. These include:
- Unlicensed Money Lenders: Operating without a valid license from the Bank of Uganda can make contracts unenforceable under the Financial Institutions Act.
- Excessive Interest Rates or Hidden Fees: Contracts with unconscionable terms may be unenforceable under consumer protection laws, as regulated by the Uganda Microfinance Regulatory Authority (UMRA) for Tier 4 microfinance institutions.
- Fraud, Misrepresentation, or Coercion: Contracts obtained through deception, misleading statements, or threats can be voidable under the Contracts Act.
- Breach of Privacy & Harassment: Loan apps that invade borrowers' privacy or engage in harassment may have contracts that can be challenged as invalid under the Data Protection and Privacy Act.
- Lack of Written Agreement: While not strictly defined for all loan amounts, having a written contract is advisable for clarity and enforceability.
- Violation of Loan Tenure & Repayment Rules: Contracts that violate guidelines set by the Bank of Uganda or relevant regulatory bodies may be challenged.
- Duress or Undue Influence: Contracts signed under threats, blackmail, or undue influence are invalid under Ugandan Contract Law.
- Lending to Minors: Loan contracts with individuals under 18 years old may be void or voidable, depending on the circumstances, under the Contracts Act and the Children's Act.
Understanding these points can help borrowers navigate loan agreements and protect their rights in Uganda. Borrowers are advised to seek legal counsel or financial advice when entering into loan agreements.
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