TOLL FREE 0808 8888  Site Search  

For You

EcoCashLoans

EcoCashLoan$ are an emergency micro-credit service offered by Steward Bank, which are accessed through your mobile phone using your EcoCash$ave account.
EcoCash$ave account holders will be eligible to apply for these loans which are set to provide relief to both individual customers.

To qualify for EcoCashLoan$, a customer must have a registered EcoCash$ave account, where you have been actively saving for no less than 3 months. No interest would be charged on EcoCashLoan$, and no security is required.

A nominal handling fee of 5% will be charged on each loan amount that is approved and credited to customers. All customers will be put through a pre-vetting system that is strictly aligned to prudential lending requirement, with the approval process instant.

The tenure of the EcoCashLoan$ is 30-days, with customers being able to borrow anywhere from $5 up to $300. Any late payments will incur a penalty fee of 8%

A customer is able to check how much the qualify for before applying for the loan.
(i) Dial *151*
(ii) Select menu option 6
(iii) Select option 3 (check Loan limit)

HOW DOES IT WORK
Application and administration is done entirely on the mobile device.
TO APPLY FOR THE LOAN:

  1. Dial *151# and enter PIN
  2. Select option 6 (EcoCash Loans) from the menu provided
  3. Select option 1 (Request Loan) from the menu provided
  4. Enter Amount
  5. Select tenure – 1 month
  6. Confirm application

LOAN APPROVAL

  • On approval, you will receive an SMS
  • Once Approved the funds are available in the EcoCash$ave Account.
  • To utilise the loan, you must move the funds to your EcoCash wallet.

The 5% handling fee is not refundable if you do not utilise the loan

HOW TO REPAY THE LOAN

  1. Dial *151# and enter PIN
  2. Select option 6 (EcoCash Loans) from the menu provided
  3. Select option 2 (Repay Loan) from the menu provided
  4. Enter Amount
  5. Select Bank Account – EcoCash$ave Account
  6. Confirm payment transfer

The full loan amount is due within 30 days. Customers can make partial payments adding up to full amount over 30 days.

Newsletter Subscription