🇺🇬 Mara Loan App [2023]- How To Apply, Repay, Interest rate, Contacts.

Provided by Microle developers via the playstore, Mara loan app has garnered 100K+ downloads, 4.2/5 star rating with 3,000 reviews since its release date on July 2022.

Pros: Mara app receives regular updates and is considerably small with a download size of around 30MB

Cons: Mara app requires access to some of your personal phone data which may raise privacy concerns

Mara Loan Requirements/Eligibility Criteria

Usage of the Mara loan app is restricted to Ugandan residents between the ages of 20-60 years who possess a phone number with an active mobile money account.

Mara Loan Registration & Application

To begin using the Mara loan app, simply download and install it from the playstore.

Allow the app to access some of your phone information, complete the registration process which includes uploading of your photo. Once registration is complete, proceed to apply for the loan.

Pros: Easy registration and application process

Mara Loan Amount Limits

Mara offers loan amounts ranging from between UGX100,000 – UGX800,000

Pros: Quick verification, approval and disbursement processes.

Cons 1: Stagnant loan limit i.e loan limits take time before being increased

Cons 2: Received loan amount is less than the approved loan amount due to service fee charges being deducted prior to disbursement.

Mara Loan Interest Rate

Mara loans attracts very high interest rates of upto 30%

Cons: This interest is considered higher compared to other digital lenders.

Mara Loan Repayment Duration

Loans provided by Mara have a very short repayment duration of 8 days

Cons 1: This repayment duration is considered very high compared to other digital lenders.

Cons 2: Despite the actual respective loan due dates, debt recovery through constant calls & SMS is usually actualized before the due date. 

Cons 3: Rude and arrogant collection agents

Mara Loan Contact

128 Old Kira Rd, Kampala
Email: support@mara.work
Tel: (256) 783921950 / (256) 707807167 / (256) 741242041

Note: The Pros & Cons provided in this review have been generated from actual playstore reviews and personal experiences from a section of our readers. We are neither associated with the loan provider nor aim to discredit it. Discretion to use/shun the app is left entirely to the borrower. Remember, Borrow Responsibly!