The Unstructured Supplementary Service Data (USSD) loan is an innovation that allows mobile phone users who may not be able to access mobile applications on their phones to apply for and receive a loan straight to their M-Pesa account within minutes. Recently, they even rolled out a *334# that allows users to access all M-Pesa services in a single code, making it a convenient option for many Kenyans seeking quick and easy access to loans.
It is often referred to as “Quick Codes”; a solution that saves time and is available for mostly Safaricom SIM cards and Airtel lines. In this article, I will show you 18 popular M-Pesa loan codes and reveal how you can access all services with a single *334# code.
15 quick USSD loan Code to M-Pesa
The following are some M-Pesa USSD loan codes you can access;
- *879*99#: Bayes
- *618#: HF Whizz
- *844#: KCB M-Pesa
- *682#: Okoa Mia
- *660#: Okoa Thao
- *269#: Pesa Pata
- *339#: Pesa ChapChap
- *841#: Zenka
- *848#: Timiza
- *243*90#: Sotiwa
- *322#: Zazipay
- *842#: Okolea
- *234#: Fuliza
- *222#: Mfanisi
- *654#: NCBA Loop
- *334#: M-Shwari
- 21991 (SMS Number): Tala
- *667#: Mco-opCash
What is M-Pesa?
M-Pesa is a Vodafone group plc and Safaricom product launched in 2007, which centers on a phone-based money transfer service. It is the most used account by loan providers in Kenya for disbursement of funds.
What is the M-Pesa Code?
An M-Pesa code is a unique USSD code that allows you to access specific M-Pesa services directly from your phone. By dialing the M-Pesa code *334#, you access a menu-based system that interacts with your mobile network provider and lets you perform various M-Pesa actions, including:
- Sending and receiving money
- Checking your M-Pesa balance
- Paying bills
- Buying airtime
- Accessing loans (as highlighted in this blog post)
There are two main categories of M-Pesa Codes:
General M-Pesa Code: The general M-Pesa code *334# provides access to core M-Pesa services and is offered by Safaricom, the main mobile network provider supporting M-Pesa.
M-Pesa Partner Codes: These codes are offered by individual banks, microfinance institutions, and other organizations that provide services through M-Pesa. These codes will grant access to specific services offered by that partner. For example, the code for Equity Bank’s loan service (Timiza) is different from the general M-Pesa loan menu offered by Safaricom (Fuliza) as highlighted in the first section of this article.
How Does the M-Pesa Loan USSD Code Work?
USSD codes provide a menu-based interface for interacting with services on your phone. Here’s a simplified breakdown of how M-Pesa Loan USSD codes work;
- Dial the *334# Code to initiate the process
- Follow Menu Prompts: You’ll see a series of on-screen menus with options like “Send Money”, “Loans and Savings” or “Lipa Na M-PESA”
- Select your desired option
Pros and Cons of Using USSD Code to Get M-pesa Loans
Pros:
- It makes loan access easy
- No collateral is needed for USSD M-pesa loans
- No internet connection needed to access the loan
- You can easily use a Kabambe phone to get the loan. Smartphones are not necessarily needed.
Cons
- Mobile USSD loans are expensive
- Ussd loan amount is small
- Sometimes it consumes airtime/credit, which can be costlier than buying Tunukiwa bundles.
- It has a short repayment duration
- Most times it comes with annoying reminders to pay up the loan before the due date.
How to repay loans using the quick USSD loan codes to M-Pesa
To learn how to repay your loan using the USSD code, contact the loan application customer service and verify whether you can repay using the USSD code. Before that, you must have funded your M-Pesa account or any other related accounts.
Conclusion
Kindly note that you can access an instant M-Pesa loan when you don’t have a smartphone or have access to the internet.
When you need a simple emergency loan, worry less that you don’t have access to downloading a loan app when you don’t use a smartphone. Remember, the USSD code is the quick code for you.