Jonathan Joseph Ngondwe, Products Officer – Assets at dfcu BankAs Uganda’s banking sector deepens its push for digitization and financial inclusion, dfcu Bank has introduced a game-changing lending solution for individual customers: the dfcu Mobi Loan. Designed as a fast, paperless, and collateral-free credit product, the dfcu Mobi Loan enables existing customers to access up to UGX 2 million within minutes—directly from their mobile phones.We spoke to Jonathan Joseph Ngondwe, Products Officer – Assets at dfcu Bank, to unpack the mechanics of the dfcu Mobi Loan, its role in the bank’s digital strategy, and how it’s helping more Ugandans bridge short-term financial gaps in real-time.Q: What exactly is the dfcu Mobi Loan, and why did dfcu Bank launch it?Jonathan: The dfcu Mobi Loan is a short-term digital credit facility that allows individual customers to access funds instantly; without any paperwork, collateral, or a trip to the branch. It’s available through our dfcu QuickApp and USSD code *240#, making it accessible even to customers without smartphones.We developed the dfcu Mobi Loan to meet the growing need for quick, reliable credit among individuals who often face urgent expenses—whether it’s a medical emergency, restocking for a small business, paying school fees, or covering utility bills. It’s part of our broader mission to offer accessible, customer-centric banking solutions.Q: Who qualifies for the dfcu Mobi Loan, and how can they apply?Jonathan: Customers must have maintained an active account with dfcu Bank for at least six months and should have a healthy credit history both with us and other institutions. New customers can qualify after opening and consistently operating their account.To apply, customers simply download the dfcu QuickApp or dial *240# on their phones. The dfcu Mobi Loan application process takes just a few clicks or prompts, and if approved, funds are disbursed to the account in under five minutes.Q: What are the key product features—loan limits, interest, and repayment terms?Jonathan: Customers can borrow amounts ranging from UGX 30,000 to UGX 2 million. The exact limit is determined based on the customer’s transaction activity on their dfcu account. The more active the account, the higher the borrowing limit.Jonathan Joseph Ngondwe, Products Officer – Assets at dfcu BankThe dfcu Mobi Loan comes with an upfront fee of 10.8% per disbursement, valid for 30 days. It’s a simple, transparent fee structure designed for ease of understanding and planning.Q: How does the dfcu Mobi Loan differentiate itself from similar products on the market?Jonathan: The standout feature of the dfcu Mobi Loan is flexibility. Customers can draw funds in multiple instalments within their approved limit. For example, if you’re approved for UGX 2 million, but only need UGX 500,000 today, you can take that amount and still access the remainder later—without reapplying.Each drawdown has its own repayment timeline, allowing customers to manage their obligations more effectively. This structure is rare in the market, where most micro-loans are disbursed in one lump sum and repaid in a single cycle.Also, unlike traditional loans, there’s no need for collateral, documentation, or branch visits. It’s a purely digital experience.Q: What level of adoption or impact have you seen since launch?Jonathan: The response to the dfcu Mobi Loan has been strong. Customers are appreciating the speed and convenience; especially during financial emergencies. Many who previously hesitated to take loans due to long processing times or fear of complex terms are finding the dfcu Mobi Loan to be a practical solution.The product is also helping us gather important behavioural insights, which can inform our credit scoring and allow us to offer more tailored financial products in the future.Q: What support is available for customers facing challenges with the dfcu Mobi Loan?Jonathan: We’ve put robust support in place. Customers can reach our call centre via toll-free line 0800 222 000, send an email to customercare@dfcugroup.com, contact us on WhatsApp; 0776 760 760, or message us through our social media platforms.Q: What’s your message to potential users considering the dfcu Mobi Loan?Jonathan: The dfcu Mobi Loan is a powerful, stress-free way to handle financial shortfalls quickly. It’s safe, fast, and accessible- built around the needs of today’s customer. Whether it’s a personal emergency or a business cash flow gap, this solution allows customers to act fast and stay in control.At dfcu, we’re committed to transforming lives and enabling growth, and the dfcu Mobi Loan is one of the many innovations driving that vision forward.Note:To access the dfcu Mobi Loan, existing customers can download the dfcu QuickApp from the Google Play Store or Apple App Store, or dial *240# on any mobile phone. The post INNOVATION SPOTLIGHT: dfcu Bank’s Mobi Loan Delivers Instant Cash For Everyday Needs appeared first on Business Focus.