Do you need a salary advance loan in Kenya
With expenses increasing consistently, it is understandably challenging for individuals to pull through the entire month with their salary. Receiving a fixed salary at the end of every month should ideally guarantee financial security, but sometimes, there is a possibility of anyone facing a shortage of money due to unseen situations. The sky-rocketing costs in the cities have made making ends meet difficult at times. Sometimes, certain immediate expenses spring up that can’t wait till the salary comes in.
These are the times when you need a bridge to take you through till your salary arrives. Some choose to borrow from a family member or a friend and some take a long-term loan from a bank, but unfortunately, these solutions can prove to be quite inconvenient in the long run. Instead, an advance salary loan can help you meet your financial obligations.You would have received advice on planning in advance and saving 20% of your monthly income as it might probably be enough to meet emergency circumstances. But what if the money you saved is not enough to cover this immediate need?
How would you approach this situation? borrow from a friend or banks?
Mombo Sacco deliver flexible loan products that can help you take care of your financial needs without having to wait for the salary credit. You can simply repay the entire amount with the next salary pay cheque or repay the amount in instalments over a specified time span.
Salary advance is a short-term loan open to all salaried employees. You can receive up to 70% of your previous month’s net salary. This loan is payable upon receipt of the next month’s salary. A salary advance loan is a quick solution to get a hassle-free loan when you need it without having to go through the embarrassment of asking someone for money. Mombo Sacco app has done away with the tedious and lengthy paperwork that would accompany the loans sanctioned at banks and other saccos in Kenya.
Salary Advance loan is a short-term loan that is extended to salaried professionals. It can be used for any purpose such as medical expenses, covering huge expenditures, or any other emergency.
1.) 1-hour processing for new customers
2.) 10 minutes processing for existing customers
3.) Interest pro-rated based on number of days
4.) Access multiple concurrent loans within your limit
The first noticeable thing is the speed with which salary advance loan applications work at Mombo Sacco. This is because, with minimal requirements, you can take out a salary advance loan. All you need is to have at least Ksh 15,000 in your savings account then just fill out an online form and submit the required details/documents. That’s it! Your salary advance loan is on its way
Mombo Sacco Salary advances unlike banks, charge lower rates of interest, we levy interest only on the money that is drawn and used, as opposed to banks where the interest is levied on the accumulated amount as soon as it is disbursed.
A loan from a bank can take between days to weeks, and can be a tedious task with excessive paperwork. Banks may take 7-15 working days to approve a loan and transfer the amount. During times of emergency, banks are by far the best option. All you need to do is, download Mombo app, send the required details and wait for 10 mins for approval and easy money transfer.
By repaying on time without hassles, you will have a good credit history and you will be in a better position to get bigger loans for other things or for your small business if you start one.
Once again, Mombo Sacco offers you the best salary advance loan options on the market. Go over to our loan offers page and choose the salary advance loan that is best suited to your needs.
Become a Top Saver. Are you ready to embark on an exciting journey towards financial empowerment and build a secure future? Becoming a top saver is not a distant dream, but an achievable goal. With the right mindset and a few clever strategies up your sleeve, you can unleash your …
Introduction: When it comes to savings, Mombo Sacco is your trusted financial partner. Not only does Mombo Sacco provide a secure and convenient platform for saving, but it also offers competitive interest rates that can help your money grow with confidence. In this article, we will explore the benefits of …
Unlock your Savings Superpower with Mombo SACCO Introducing Mombo Sacco’s Loan Instalment 50% Interest Discount – an incredible feature that allows you to save more, pay less, and achieve your financial goals faster than ever before. It’s like having a secret weapon in your pocket, ready to unleash its power …
Mastering Money Matters with SACCOs: A Guide for All In a recent “Get Your Bag Right” podcast episode , we had the pleasure of conversing with Lynet, our very own financial fit bit, on mastering money matters with SACCOS. The conversation was nothing short of brilliant, combining insightful expertise with …
Meet Stadi, your trusty assistant at Mombo Sacco! Stadi is here to make your financial journey easy, fun, and rewarding. But who is Stadi, you ask? Well, let me tell you all about this fascinating character. Stadi is a clever and witty virtual assistant designed to help you navigate the …
Empowering Financial Independence with Innovation In today’s fast-paced digital world, financial technology has revolutionized the way we manage and access our finances. One such innovation is the Mombo App, a powerful tool developed by Mombo Sacco, an award-winning digital savings and credit cooperative society in Kenya. With its user-friendly interface …
Personal Goals and Group Goals In the quest for success, both personal and group goal accounts play a vital role. While personal goals cater to individual aspirations and achievements, group goals foster collaboration, teamwork, and the accomplishment of shared objectives. So, which path should you choose? In this article, we …
Open a Sprint Goal Savings Account Are you in a hurry to save? Don’t worry, Mombo Sacco has got just the account for you, it’s time to sprint and start your savings string! The Sprint Goal Account will be a fantastic savings option for you. Unlike the Marathon Goal Savings …
Mombo Sacco Marathon Goal Savings Account Are you tired of running around, with your savings all scattered on the ground?Do you dream of reaching your financial goals, but find it hard to save those precious rolls?Well, fret no more, we have the solution for you, a marathon goal savings account …
Once upon a time, in the kingdom of finance, there was a little app called Mombo. It had big dreams of revolutionizing the way people saved money and managing their finances. Little did it know that its hilarious and quirky nature would catch the attention of the prestigious 2023 Mobile App …
Mombo Sacco is committed to helping individuals and businesses achieve their financial goals through a wide range of innovative loan products. Whether you need quick cash for emergencies, bridge financing for your business, or funds for personal milestones, Mombo Sacco has got you covered. With flexible terms, competitive interest rates, …
How To Join Mombo Sacco Joining Mombo Sacco is incredibly easy and convenient, especially when compared to other Saccos and traditional banks. With Mombo Sacco, you can become a member and start saving in just a few simple steps using your smartphone. Mombo Sacco offers a user-friendly interface that makes …
Chama Savings Accounts In Kenya Are you part of a Chama in Kenya? Congratulations, you’re already on the path to financial success! But how do you make the most of your Chama experience? It’s simple: by choosing the best Chama savings account in Kenya. Buckle up for a rollercoaster ride …
Open Your Savings Account Today Are you tired of the old-fashioned way of saving money? Do you want a convenient and hassle-free way to build your financial future? Look no further than Mombo Sacco Digital Savings Accounts – the ultimate solution for modern savers like you. Picture this: no more …
Shares vs Savings in Mombo Sacco When it comes to saving and investing with a SACCO (Savings and Credit Cooperative), you may come across the terms “shares” and “savings.” While they both play a crucial role in your financial journey, it’s important to understand the differences between the two. Shares: …
Who Regulates Mombo Sacco? When you want to save money, you make sure your hard-earned cash is in good hands. That’s where Mombo Sacco comes in. As an award-winning digital savings and credit cooperative society, Mombo Sacco is dedicated to simplifying savings, making it enjoyable and rewarding for all our …
Affordable Saccos in Kenya are a game-changer in the financial landscape, providing individuals and businesses with accessible and cost-effective financial services. Did you know according to KUSCCO estimates, SACCOs contribute in excess of 45% of kenyan’s GDP? This includes employement opportunities to over 250,000 people in kenya. In this article, …
Sacco (Savings and Credit Cooperative) membership in Kenya has gained significant popularity among individuals and businesses alike. In fact, according to KUSSCO, Kenyan Saccos registered a 14.2 per cent growth in membership, winning a global award from the World Council of Credit Union(WCCU). By offering an array of financial products …
Are you tired of the conventional investment options that offer mediocre returns? Are you searching for something engaging, rewarding, and brimming with potential? Look no further! According to KenInvest, Digital banking and Finance have emerged as the hidden gems, waiting to unlock your wealth potential. So, strap on your imagination …
They say laughter is the best medicine, and Mombo Sacco took this to heart on their way to becoming one of the top Saccos in Kenya. Join us on a hilarious journey as we explore the ups, downs, and comedic moments that shaped Mombo Sacco into the financial powerhouse it …
In a fast-paced digital era prioritizing convenience and efficiency, traditional Saccos in Kenya are adapting. Today, we spotlight digital Saccos in Kenya reshaping financial services for tech-savvy Kenyans. Let’s explore these digital Saccos, shaping the future of financial empowerment. 1. Mombo Sacco: Where Digital Innovation Meets Financial Rewards As we …
Savings and Credit Cooperative Societies (SACCOs) in Kenya, often abbreviated as SACCOs, play a vital role in the financial landscape. They provide opportunities for individuals to save, access credit, and invest collectively. However, it’s important to have an understanding of the SACCO sector in Kenya, including its advantages, challenges, and …
In the vibrant land of Kenya, there exists a financial phenomenon that adds a delightful twist to the world of savings and credit. Lets embark on a journey to explore some of the best Saccos to join in Kenya, where traditional values meet modern flair, turning money matters into a …
Mombo Sacco has a new treat in store for its individual and group members – Goal Savings Accounts. Ever had a dream so big it needed its own bank account? Thanks to Mombo Sacco, you can! Let’s dive right in. Goal Savings Accounts offer you the opportunity to save for …
Mombo Sacco introduced a rewards programme for people who value fiscal responsibility. To inspire you, we highlight top savers who demonstrate strong determination and discipline in their savings. Our programme offers incentives to support and motivate your savings efforts. Join us in pursuing monetary success!
Achieve Your Financial Goals with Mombo Sacco's Goal Savings Accounts Mombo Sacco’s Goal Savings Accounts are purpose-built to assist both individual and group members in realizing their financial objectives. Whether you’re saving for short-term needs or aiming for long-term aspirations, these accounts offer flexibility, attractive features, and customized options to …
Aligning with the United Nations SDGs: Mombo Sacco Goal Savings Accounts Introduction The United Nations Sustainable Development Goals (SDGs) are a universal call to address pressing global challenges by 2030. Among these 17 SDGs, several resonate with the objectives of Mombo Sacco Goal Savings Accounts. By promoting financial inclusion, economic …
Building Dreams Together: The Efficacy of Mombo Sacco Goal Savings Accounts for Modern-Day Couples In today’s fast-paced financial landscape, couples often find themselves juggling various financial responsibilities and goals. Mombo Sacco Goal Savings Accounts provide an exceptional solution for modern-day couples aiming to manage their savings efficiently and meet their …
