How To Borrow Airtime From MTN – Step By Step Process
MTN XtraTime is a service offered by MTN to its prepaid customers in Africa that allows them to borrow airtime when they run out of airtime. The borrowed airtime is then paid back on the customer’s next recharge.
Thank you for reading this post, don't forget to subscribe!What are the eligibility requirements to borrow money from MTN?
- Be a prepaid customer of MTN Nigeria.
- Have registered your MTN SIM card with your National Identification Number (NIN).
- Have been an MTN customer for at least 3 months.
- Have spent at least N200 monthly on airtime for the past 3 months.
- Have between N0 and N75 in your main account.
- Have paid up any outstanding XtraTime loan requests.
You can check your eligibility to borrow airtime from MTN by dialing *303# and selecting the “XtraTime” option. If you are eligible, you will be able to see the maximum amount of airtime you can borrow and the applicable service fee.
Here are the steps on how to borrow airtime from MTN:
- Dial *303# and select the “XtraTime” option.
- Select the amount of airtime you want to borrow.
- Enter your MTN PIN.
- Confirm the transaction.
The airtime will be credited to your account immediately. You will have to repay the loan within 30 days, plus a service fee of N10. You can repay the loan by dialing *303# and selecting the “Repay XtraTime” option.
Please note that MTN may not approve your loan request if you do not meet all of the eligibility requirements. You can also be denied a loan if you have a history of defaulting on previous loans.
How to borrow airtime from MTN
- Using the USSD code: Dial *606# and select “XtraTime”. A list of amounts you can borrow will be shown to you. Select your preferred amount and confirm the transaction.
- Using the XtraTime app: Download the XtraTime app from the Google Play Store or Apple App Store. Open the app and sign in with your MTN number. Select the amount of airtime you want to borrow and confirm the transaction.
The minimum amount you can borrow from MTN is N50 and the maximum amount depends on your recharge history. The service fee for borrowing airtime from MTN is 15%.
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Here are the steps on how to borrow airtime from MTN using the USSD code:
- Dial *606# on your phone.
- Select “XtraTime”.
- A list of amounts you can borrow will be shown to you.
- Select the amount of airtime you want to borrow.
- You will be prompted to confirm the transaction.
- Enter 1 to confirm or 0 to cancel.
- If you confirmed the transaction, you will receive a message with the amount borrowed and the service fee.
- Your airtime balance will be updated with the borrowed amount.
You can repay your borrowed airtime at any time by dialing *606# and selecting “Repay XtraTime”. You can also repay your borrowed airtime through the XtraTime app.
Here are some things to keep in mind when borrowing airtime from MTN:
- You can only borrow airtime if you have a valid MTN SIM card.
- You must have a good credit history with MTN to be eligible to borrow airtime.
- You can only borrow airtime once every 24 hours.
- You must repay your borrowed airtime within 7 days.
- If you do not repay your borrowed airtime within 7 days, you will be charged a penalty fee.
What is the minimum airtime amount I can borrow from MTN?
The minimum airtime amount you can borrow from MTN is N50. However, there are times where the N25 is available, as the system is flexible. In reality, the minimum standard is N50.
To borrow airtime from MTN, you need to meet the following eligibility criteria:
- You must be a prepaid customer.
- You must have registered your phone number.
- You must have been on the MTN network for more than 3 months.
- You must have spent at least N200 monthly for 3 months.
- You must have between N0 and N75 in your main account.
- You must have paid-up any outstanding XtraTime loan request.
To borrow airtime from MTN, you can dial *501# or use the MTN XtraTime app. You will be prompted to enter your MTN ID and XtraTime PIN. You will then be able to select the amount of airtime you want to borrow. You will be charged a service fee of 15% on the amount you borrow. You will need to repay the loan within 30 days.
Here are the steps on how to borrow airtime from MTN using the USSD code:
- Dial *501# on your phone.
- Enter your MTN ID.
- Enter your XtraTime PIN.
- Select the amount of airtime you want to borrow.
- Confirm the amount of airtime you want to borrow.
- You will receive a confirmation message.
Are there extra charges attached to borrowing?
Yes, there are extra charges attached to borrowing airtime on MTN. MTN Nigeria deducts a service charge of 15% from the airtime you intend to borrow. Therefore, this means that you would only receive 85% of the sum you requested. For example, borrowing N500 would see you receive N425 instead of N500, as MTN takes N75.
In Conclusion:
if you decide to borrow airtime on MTN Nigeria, it is important to keep in mind the additional service charge of 15% that will be deducted from the amount you requested. This charge is applied to ensure the sustainability of the borrowing service and to cover administrative costs. So, before borrowing, make sure to consider the extra charges and adjust your request accordingly to ensure you receive the desired amount of airtime.
