The Quick Cash Loan from UN DT SACCO offers one of the fastest ways for SACCO members to access emergency funds. With the option to borrow up to KES 100,000, this mobile loan is designed to support urgent personal financial needs. The interest rate is set at 5% on access and an additional 5% of the outstanding balance after every 30 days. The loan runs for a short period of up to 3 months (90 days), and applicants must be registered with the SACCO for at least six months with regular contributions.

How to Apply for the Quick Cash Loan

1. Ensure your UN DT SACCO membership is active with a minimum of 6 months of regular contributions.
2. Register for the SACCO’s mobile banking service (QC-WALLET).
3. Dial the USSD code *605*5# directly from your mobile phone.
4. Follow the prompts to select the ‘Quick Cash Loan’ product and specify your desired loan amount.
5. Confirm your application details and submit. Funds are disbursed directly to your FOSA account if approved.

Pros of the Quick Cash Loan

This loan allows quick mobile application without paperwork. The USSD application method works on any type of phone, making the process easy and inclusive.

The short approval time and direct disbursal into your FOSA account ensure you get urgent cash without delays, which is crucial in emergencies or unexpected situations.

Cons of the Quick Cash Loan

The 5% access fee plus 5% monthly charge is relatively high, especially if the loan is not paid off quickly. Borrowers need to pay keen attention to the total cost.

Only SACCO members with at least six months of monthly contributions qualify. This limits access for new members or those with inconsistent contributions.

Our Verdict

For members who need fast, convenient access to emergency funds through mobile, the Quick Cash Loan by UN DT SACCO is a strong option. While the costs can add up if repayment is not managed carefully, the speed and ease of use are excellent. Consider your repayment capacity and ensure you meet all terms to avoid penalties.