How To Get Mobile Money Loans in Ghana

Catch up on emergency: How To Get Mobile Money Loans in Ghana

An article guide on How To Apply For Emergency Loans With Your Mobile Phone in Ghana. I believe you are in need of some in emergency mood to complete a certain task then pay it later. That is purely why this article is there for you in showing you various ways you can get or apply for these quick loans through your mobile phone and pay later.

Mobile Money Loan in Ghana

You Mean Borrowed Money And Pay later?

Yes, you heard me right! You have the chance and ability to apply for a quick loan and pay later all from the comfort of your home.

Things Not Needed Before You Apply For These Loans.

With these emergency loans, you do not have to provide anything like:

  • Collateral
  • Guarantor
  • Proof of residence
  • Nor next of kin

You can then apply for mobile money loans in Ghana all the way from the comfort of your room and get your loan in quick and instant time. To some of the loans, you can even get up to an amount of GHS1000 just using your mobile money account be it MTN Mobile Money, AirtelTigo Cash, Vodafone Cash etc.

Things To Keep Note Before You Apply For Any Loan:
  • You’ll Pay Little Interest during repayment period
  • Read terms and conditions before applying for loan
  • Check the loan packages before applying
  • Ask for interest rates before applying

I believe you are done and set to move in knowing how best you can apply for these loans in an emergency situation in the comfort of your room. Then head over in reading to the end.

List of Mobile Money Lending Services Available in Ghana.
  1. MTN QwikLoan
  2. Paylater
  3. Fido Money Lending
1. MTN QwikLoan

MTN Qwik Loan is one of the most used mobile money loan service I know so far in Ghana with over 90% of MTN subscribers using it.
MTN in collaboration with afb Bank introduced Qwik Loan to the network’s subscribers.

Are you an active MTN mobile money user in need of some quick cash to solve an urgent need? QWIKLOAN is a short term cash loan disbursed and repaid with your MTN mobile money wallet. The loan is simple and easy to apply

  • It is accessible with no previous savings required.
  • Loan repayment term is 30 days
  • Minimum loan is GHS50 with maximum being GHS1000
  • Customers can have one loan at a time and can only apply for a new one after paying the existing loan.
  • No queues, no paperwork, no time wasted.

How To Apply:
To apply for MTN Qwik Loan, it requires a user who normally do transaction with his or her sim card and has been using the sim card for long. Active use in MTN mobile money and airtime recharge is all that they require to grant you access for their Qwik Loan offer.

  • Dial *170# for MTN Momo Menu
  • Follow the option 5 – Financial Services
  • Enter option 3 for Loans
  • Select option 1 – QwikLoan
  • Select option 1 again for Get a loan
  • Then enter your MoMo PIN number to confirm
  • Enter your desired amount from the range of amount given for the loan you want and wait for some minutes to receive amount.

After these procedure, you’ll receive a pop-up notification like this; You’ve successfully applied for MTN Qwikloan. Wait for confirmation and instant payment into your mobile money account. within some minutes, the money is going to reflect in your MoMo account.
Congrats! Now your loan is given.

2. Paylater

Just imagine with the use of smartphones and one has a benefit of using it to apply for loan in the convenient way, that’s how Paylater comes in. With Paylater, you have the chance to apply for loan and pay later using an app.

Paylater is operating as a digital financial service into lending for consumers. Paylater is not all that much know to the Ghanaian publicity but only few people knew the app and its use. With Paylater, it has branches in some countries like Ghana, South Africa, Nigeria and Portugal and operating for over 6 years in West Africa making it one of the oldest mobile money loan provider.

How To Apply:

  • Just download and install the Paylater app from Google’s Play Store
  • Register and fill in the necessary requirements
  • Your loan application will then go under review within some few minutes
  • Your Mobile Money account will now be credited based on the amount you applied for once your application is confirmed.
3. FIDO Money Lending

FIDO Money, a financial institution that lends money into your Mobile money account through mobile phone app. FIDO Money gives you instant mobile money loans once your application is approved and no matter your location, you will be given this loan provided you meet the requirements.

FIDO Money Lending as a financial institution is located in Dzorwolo, Accra.

How To Apply:

  • Firstly, download FIDO Money app from Google’s Play Store
  • Install the app on you mobile phone
  • Fill in your details. Voter’s I.D card is a must to be provided for this loan.
  • Enter the amount you wish – Minimum of GHS300 and above
  • Once your details are confirmed, you’ll get paid.

With FIDO Money Lending, you’re given up to a maximum of 30 days to repay your loan with an interest rate.

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Now you know the various ways to get loan instantly with your mobile phone?
Then kindly help share this article across to all your friends who might be in need of this kind of mobile money loans.

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