You cannot apply for a new loan while you have an active one. Clear your current balance first to unlock a new application.
The 10% access fee is paid by you separately before signing — it is NOT deducted from your loan. You receive the full loan amount into your wallet. Interest is 6%/month flat on the principal amount.
Lender: Metro Quick Cash Ltd, P.O. Box 4821, Nairobi, Kenya. Licensed by the Central Bank of Kenya.
Borrower: John Doe, ID No. 27384910, MQC Account No. MQC-4739281, email: test@gmail.com.
| Principal Amount | KES 15,000 |
| Loan Duration | 3 months |
| Interest Rate | 6% per month (flat) |
| Total Interest | KES 2,700 |
| Total Repayable | KES 17,700 |
| Monthly Instalment | KES 5,900 |
| Disbursement Method | MQC Wallet |
A non-refundable Access Fee of 10% is charged to cover loan processing, credit assessment, and administrative costs. For a KES 15,000 loan this equals KES 1,500. This fee is paid by the borrower from their own funds before signing — it is not deducted from the loan. The full loan principal of KES 15,000 is disbursed to your MQC wallet.
⚠ Important: The access fee (10%) must be paid by you separately before this agreement is signed. It is not deducted from your loan amount. You receive the full KES 15,000 in your wallet and repay KES 17,700 over the agreed period.
Repayments are due monthly on the same calendar date as disbursement. The full repayment schedule — including exact due dates and instalment amounts — is available in your MQC dashboard. Payment instructions specific to your country are displayed in your wallet at the time of each repayment.
Payments not received by the due date attract a 2% penalty per week on the outstanding balance. After 30 days of non-payment the account is considered in default. MQC may report the default to Kenya's Credit Reference Bureau (CRB), restrict all account services, and pursue legal recovery of the outstanding amount including costs.
The borrower may repay the full outstanding balance at any time without penalty. Interest is calculated only on remaining months upon early settlement.
Members of MQC Savings Groups who apply for a loan are subject to the same terms herein. Additionally, an active group membership in good standing may be considered as positive credit history during loan assessment. Defaulting on a loan while in a group may result in suspension from group activities until the loan is cleared.
Your personal data is processed in accordance with the Kenya Data Protection Act 2019. MQC will not sell your data to third parties. Your data may be shared with licensed credit bureaus for credit assessment and reporting purposes.
This agreement is governed by the laws of the Republic of Kenya. Any disputes shall be resolved in the Nairobi courts or through the Financial Disputes Resolution Centre.
By signing below, the borrower confirms they have read, understood, and agree to all terms of this agreement. A copy will be sent to the borrower's registered email address as a PDF.
You are signing the Personal Loan Agreement for KES 25,000 (Ref: MQC-L-2026002). The 10% access fee has been paid. Upon approval, the full loan amount will be disbursed to your MQC wallet.
Once submitted, a signed copy of this agreement will be sent to test@gmail.com as a PDF attachment for your records.
Signed agreement sent to test@gmail.com as a PDF. Check your inbox (and spam folder).