Best Loan App in Ghana

By | November 19, 2022

Best Loan App in Ghana – Loan apps in Ghana have gained massive ground in Ghana in recent times and this is due to the patronage of these loan apps by Ghanaians.

This article will be about the best loan app in Ghana so if you are someone who has questions about the best loan app in Ghana then this article is the right article for you.

About Loans

A loan is a form of credit instrument in which money is lent to a different party in return for the value or principal amount to be repaid in the future. The borrower must pay interest or finance charges on top of the principal amount because the lender frequently increases the principal value.

Best Loan App in Ghana

Technological advancements have made it possible for people to get loans without having to move into the offices of financial institutions to take loans.

There are a lot of loan apps in Ghana, and all you need to do is to download the app, register, and take the loan. Choosing the best loan app in Ghana is very difficult and this is because what might be good for one individual may not be good for another. Let’s take a look at some of the available loan apps in Ghana;

FiDO Loan App

Installing the Fido Loan App requires an Android phone because it can only be downloaded from the Google Play Store. You’ll need to hunt for an Android phone if you don’t already use one in order to access the loan.

It only takes a few minutes to download and set up the FIDO Money Lending app on your phone if you have a reliable internet connection.

Since the software is only available through the Google Play Store, as was already said, there is no way for people who don’t use Android devices to download it.

Bloomkash Loan App

Using the Bloomkash lending app, you have access to up to GHC 1,000 without giving any security. Borrowing limits for beginners are set at GHC 65. The company also offers daily interest rates that range from 0.1% to 1%.

LendingPapa Loan App

LendinPapa is among the most well-liked loan applications in Ghana. First-time borrowers are only eligible for loans up to GHC 100, whereas loyal customers are eligible for loans up to GHC 5,000. Between 8% and 22% is the annual interest rate range.

Zidisha Loan App

The Zidisha loan app allows you to borrow up to GHC 4,153,730 without providing any security. It’s noteworthy to note that Zidisha loans do not charge interest; nonetheless, a service fee of 5% of the loan amount is still due.

In addition, if a new member does not already have an invitation from an existing Zidisha member, they frequently pay a one-time membership fee of GHC 3,000.

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