How to Apply for Personal Loans Online in Ghana

By | October 21, 2021

Getting a loan is now easier than ever. Gone are the days when you had to fax paperwork and wait on hold for hours on end just to apply for a loan. Thanks to technology, you can now apply for a personal loan from your phone! If you have a steady income and have been denied a loan because of not having a bank account or not meeting your bank’s expectations or requirements and even collaterals, applying online is your best bet. You can also save time by prequalifying with any one of our lenders before filling out the application. This way, you’ll know upfront if your application will be approved or not. In this article, we’ll show you how to apply for personal loans online in Ghana.

There are many applications and mobile money services that enable you to get instant loans within a short time. Below are some services where you can get your personal loan, and they are all instant and one more thing, with just your phone and at times internet connection.

1. Fido Money Lending App

Fido Money is one of the most popular mobile lending apps in Ghana. It is licensed by the Bank of Ghana. You can apply using their mobile application, which is available on both iOS and Android. You can apply for an instant loan with no collateral, paperwork, long queue, and guarantor needed.

You can receive up to GHS200.00 for your first loan application, and this amount may increase up to GHS1,000 based on the number of loan applications and repayment time.

Requirement for Loan Application

  1. A valid ID (Voter’s ID, NHIS Card, Driver’s License, and Password).
  2. A mobile money account with your name and index number (MTN, AirtelTigo Money, and Vodafone Cash).
  3. An applicant may be a citizen of Ghana.

How to Apply for Fido Loan

  1. Download the app from either playstore or app store.
  2. Fill in your correct details and confirm your data.
  3. Fill in the loan application form.
  4. Wait for a confirmation page to see either you have been approved or not.
  5. If you have successfully approved, then you have to repay your loan before the time given to be eligible another time.

2. SikaPurse

SikaPurse enables you to get a loan up to GHS5,000. They have a flexible loan term from 90 days to 365 days. They have 10% annual interest.

How to Apply for a Loan on SikaPurse

  1. Insall the SikaPurse App
  2. Register an account.
  3. Fill out basic information and submit.
  4. Apply online.
  5. Receive your loan in your bank account.

3. LendingPapa

Like the SikaPurse, LendingPapa is another money lending app; this app will also allow you to get a loan of up to GHS5,000. They can give you a loan from GHS 1,000 to GHS 5,000, a loan term from 91 days to 365 days, and with a loan interest from 8% to 22% per annum.

Steps In Applying for Loan on LendingPapa

  1. Install the LendingApp on your smartphone.
  2. Register and verify your account.
  3. Fill out your personal details, make sure you are entering your valid info.
  4. Apply for your loan.
  5. If your application is approved, you will receive the money in your bank account.

4. BloomKash

BloomKash allows you to get up to GHS1,000, which they claim to be effective and efficient. It is easy to apply for a loan on BloomKash without any guarantor. The least amount they can give you is GHS65.

They have a daily interest rate from 0.1% to 1%, leading up to 36.5% to 360% annual interest. They also charge a service fee, so make sure you open your eyes when applying. Their service fee starts from GHS 23.7 to GHS365, depending on the amount and the time length.

You can apply for a loan on BloomKash by downloading their mobile app, filling in the necessary data, and request for a loan. 

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