M-Kopa Loans in 2023: Application, Interest Rates, Types Of Loans, PayBill, Customer Care, and More

Discover M-Kopa Loans in 2023, including how to apply for phone and cash loans, the repayment pay bill, and the best ways to contact M-Kopa customer care.

Oct 5, 2023 - 16:25
Oct 5, 2023 - 16:26
M-Kopa Loans in 2023: Application, Interest Rates, Types Of Loans, PayBill, Customer Care, and More
M-Kopa Loans in 2023: A Comprehensive Guide to Phone, Cash Loans, PayBill, and Customer Care

Do you need a smartphone, a solar product, or a quick cash loan in 2023? Look no further than M-Kopa, the digital lender transforming lives across Africa since its inception in 2010. In this comprehensive guide, we will walk you through the ins and outs of M-Kopa loans, including how to apply, the interest rates, various loan types, the PayBill process, and how to reach customer care. So, let's dive into the world of M-Kopa and discover the financial opportunities it offers millions of people.

What Is M-Kopa

Founded in 2010, M-Kopa has become a household name in Kenya, Uganda, Ghana, and Nigeria. With over $1 billion in loan products and a reach of over 3 million customers, M-Kopa continues to be a beacon of hope for many in need of financial assistance. The company has gained traction with innovative products like solar heaters, TVs, and the increasingly popular M-Kopa phones.

Types of Loans and Products

Smartphone Loans with M-Kopa

Are you tired of your outdated phone? M-Kopa's Phone Loan plan is your answer. With a minimal deposit, you can get your hands on new smartphone models, such as the Samsung A045 or the Nokia G21. But remember, if you fail to keep up with payments, M-Kopa may only activate the device once dues are cleared.

Solar Products & More

Besides phones, M-Kopa offers solar products, including solar heaters and light bulbs. For households, the product range even extends to fridges and irrigation systems.

Cash Loans: The SOLAPESA

Existing customers with a commendable repayment record can tap into M-Kopa's cash loans, also termed SOLAPESA. Amounts range from KES. 5,000 to KES. 7,000. And the application? It's as simple as sending 'Loan' to 22624 and waiting for a response!

Interest Rates & Loan Limits

Interest rates can vary, but a rough estimate from 2023 indicates a monthly interest rate of about 4.64%. M-Kopa's system automatically calculates loan limits for existing customers based on repayment history. Good behaviour might earn you a higher loan limit, but as your account ages, this limit might decrease.

Applying for M-Kopa Loans

M-Kopa offers multiple ways to borrow money; you can quickly try oput this method:

Using USSD

Application is a breeze with M-Kopa. Dial *685# from your registered number, select Cash Loan, and follow the on-screen instructions. Qualifying customers receive a notification, and the loan amount is swiftly disbursed to the M-Pesa account.

Via the M-Kopa App

M-Kopa Loans in 2023: Application, Interest Rates, Types Of Loans, PayBill, Customer Care, and More

The M-Kopa app, available on Google PlayStore, offers another avenue for loan application. Download, install, and follow the easy steps to apply for the desired loan.

M-Kopa Phones On Loan 2023

An exciting aspect of M-Kopa is their Phone Loan plan. Top phones from brands like Samsung and Nokia are accessible with a minimal deposit. Models include:

Phone Type Deposit Ksh Repayment Period Daily Payment in Ksh
Nokia C1 2,699 365 35
Nokia C01 Plus 3,299 365 40
Nokia 1.4 3,999 365 50
Nokia C10 3,299 365 40
Nokia C20 3,999 365 45
Nokia C21 3,999 365 50
Nokia C21 Plus 4,699 365 55
Nokia C30 4,299 365 55
Nokia G10 3,699 365 60
Nokia G20 4,999 365 70
Nokia G21 4,999 365 70
Nokia 5.4 5,499 365 85
Nokia G50 9,499 365 140
Nokia X10 7,999 365 100
Samsung A02 3,499 365 55
Samsung AO3 3,499 365 60
Samsung AO3 Core 3,999 365 50
Samsung A03s 3,999 365 65
Samsung A12 4,499 365 70
Samsung A13 5,999 365 90
Samsung A22 5,999 365 85
Samsung A23 7,499 365 100
Samsung A33 10,999 365 170

You can own one of these phones with an initial deposit, usually around Ksh 3,500. But do remember to keep up with the payments. If you lag, M-Kopa can deactivate your device.

How to Repay M-Kopa Phone Loans

Repayment is as simple as ABC. You can make your payments via M-Pesa by following these straightforward steps:

  1. Go to the M-Pesa menu
  2. Select Lipa Na Mpesa
  3. Choose Pay Bill
  4. Enter M-Kopa's business number (333222)
  5. Input your registered account number
  6. Enter your repayment amount
  7. Input your Mpesa PIN and hit 'Send.'

Customer Support

  Reach out to M-Kopa's customer support directly through:

READ ALSO: Equity Bank Kenya Loans and interest rates


In conclusion, M-Kopa is a financial game-changer in Africa, offering accessible loan products and innovative payment solutions. Whether you're looking for a smartphone, solar products, or a quick cash loan, M-Kopa has you covered. Remember to meet the eligibility criteria, make timely repayments, and enjoy the benefits of M-Kopa's financial services.

Frequently Asked Questions (FAQs)

1. How can I apply for an M-Kopa cash loan?

  • You can apply for an M-Kopa cash loan using a USSD code. Dial *685# from your registered M-Kopa phone number, select the cash loan option, and follow the prompts. Alternatively, you can use the M-Kopa mobile app to apply for a loan.

2. What are the eligibility criteria for M-Kopa cash loans?

  • To qualify for an M-Kopa cash loan, you must be an existing M-Kopa customer with a good repayment history. Your account should be under two years old, and you must have paid for your existing M-Kopa product for at least three months.

3. How do I make repayments for my M-Kopa loan?

  • Repayments for M-Kopa loans can be made through M-Pesa. Go to the M-Pesa menu, select Lipa Na Mpesa, choose Pay Bill, enter M-Kopa's business number (333222), input your registered account number, enter the repayment amount, input your Mpesa PIN, and hit 'Send.'

4. What happens if I miss an M-Kopa loan repayment?

  • If you miss an M-Kopa loan repayment, your device may be temporarily deactivated until you make the payment. It's essential to stay current on your payments to avoid any inconveniences.

5. Can I apply for an M-Kopa loan if I already have existing loans with other providers?

  • M-Kopa may consider your application for a cash loan even if you have existing loans with other providers. However, eligibility will be determined based on your repayment history and other factors.

6. How can I contact M-Kopa customer care?

  • M-Kopa's customer care is available daily from 7:00 a.m. to 11:00 p.m. You can reach them through various channels, including MTN (0323522000), Airtel (0200522000), SMS Line (7778), WhatsApp (+254799136761), and email ([email protected]).
Joseph Richard Joseph is a graduate of Mathematics and Computer Science (Applied Option). With expertise in Technology and Finance, he brings his knowledge to the field, demonstrating an authoritative understanding of these interrelated areas. Joseph is pursuing a Master's in Software Engineering, further expanding his skill set.