Good news, You can now borrow money from MTN Nigeria and pay back later. This is possible through a new value added service called MTN XtraCash.
MTN also has similar loan services such as XtraTime and Xtrabyte which are used for borrowing Airtime and Internet Data respectively but however this new online loan scheme on the MTN Network has really got many subscribers excited.
This post will explain some FAQs, features of MTN XtraCash service and How it Works;
What is MTN XtraCash
MTN XtraCash is a service that allows eligible customers access short-term Micro Credit loans via a USSD platform from their mobile phones.
Code to Activate MTN XtraCash
Eligible customers can request for Xtracash by dialling the USSD code *606# and select XtraCash on the menu.
How much can I borrow on MTN XtraCash
MTN Customer can borrow N5,000 or N10,000 based on eligibility.
How do I received the Cash?
The Xtracash Loan amount would be credited into customers’ Diamond Yello Account.
What are the Interest Rate?
The MTN Xtracash loan maturity period is 30 days at an interest rate of 15%.