- What is Fastele?
- This is a USSD-based Carecoop loan product that can be accessed by CareCoop Member of up to K3000.00.
- How long is the Tenure?
- Repayable within 30 days of application.
- Do I need 20% savings of the applied amount?
- No, it does not require Savings.
- Who Qualifies?
- After successful submission of your Expression of Interest, you will be subject to a vetting process to which the member is confirmed Eligible.
- What is being considered during the Vetting process?
- As this is a pilot project, only the first 100 members who have clean CRB records, have enough savings to secure other running loans and have not defaulted with CareCoop will be considered eligible.
- How can I apply for this Loan?
- Once on-boarded and your mobile number is activated on the platform, simply dial *448# and follow the prompts.
- How will I receive the funds?
- The money will be disbursed to you via your mobile money account. (Airtel, MTN and Zamtel)
- How do I make repayments on this loan?
- By dialling *448# and following the prompts for repayment of the loan.
- Will I qualify for another top-up as soon as I pay off the borrowed amount?
- Yes. As soon as the loan is cleared you will qualify for another loan.
- What happens if I miss my repayment after 30 days have elapsed?
- You would have defaulted on the loan and therefore blacklisted from further access to the Fastele loan.
- Will I qualify for other CareCoop loans even while running a Fatsele Loan?
- Yes, you will.
- If I default on a Fastele Loan, does this disqualify me from other loans?
- Yes, as per policy, once arrears are settled you will be subject to 3 months waiting period before you can access a new loan.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article