MTN Ghana offers interest on MoMo wallets, allowing users to earn money simply by keeping funds in their mobile money accounts. This initiative encourages savings while giving customers added value on their balances.
How MoMo Interest Is Calculated
Interest on your MoMo wallet is calculated quarterly, based on the average balance you maintain over a three-month period. Rather than using your highest or lowest balance, MTN considers how much money stays in your wallet consistently during the quarter.
The interest rate applied is variable. This means it can change depending on factors such as:
- Your transaction activity
- Your balance history
MTN’s prevailing interest structure
- Interest Formula
The basic method used is:
- Average Balance × Interest Rate
For example, if the annual interest rate is 3%, this translates to 0.75% per quarter.
Interest Payout Schedule
MoMo interest is paid four times a year, directly into your wallet, during the following months:
- January
- April
- July
- October
Practical Example
If you keep GHS 1,000 in your MoMo wallet throughout a full quarter and the applicable annual interest rate is 3%, you would earn:
- 0.75% of GHS 1,000 = GHS 7.50
This amount is credited automatically at the end of the quarter.
How to Check or Activate MoMo Interest
To confirm your eligibility or activate the MoMo interest feature, simply dial:
- *595#
Follow the prompts to view your interest status and details.
Why MoMo Interest Matters
MoMo wallet interest helps users:
- Earn passive income on idle funds
- Build a savings habit without opening a bank account
Enjoy automatic payouts with no extra effort
By keeping money in your MoMo wallet and staying active, you can gradually increase your earnings over time.
