Mobile Money Loan

How To Apply For Mobile Money Loans In Ghana

How To Apply For Mobile Money Loans In Ghana — for up to GHS 1000 within some couple of minutes.

Unlike before, you will have to get a collateral or guarantor to guarantee you before qualifying for a loan from any Bank in Ghana. But now, thanks to the application of financial technology as you can apply for a loan and get it within 1 minute on your mobile phone.

Our mobile networks too have played major role in the provision of loans to subscribers in Ghana. These mobile networks are; MTN Ghana and Vodafone Ghana with their loans from their mobile money service — MTN Mobile Money and Vodafone Cash.

In today’s post, I shall discus with you some of the instant mobile money loans you can apply directly from your mobile phone.

MTN Qwik Loan

MTN Qwik Loan has become the common mobile money loans in Ghana — that give instant mobile money loans to any MTN Mobile Money user that qualifies to apply. MTN Qwik Loan is affiliated to afb Ghana to provide loans to subscribers of MTN Mobile Money service.

Loan requested by MTN Mobile Money users are paid into their Mobile money wallets instantly from afb Ghana and MTN subscribers have the chance to apply for loans up to GHS 1,000 and pay later.

How to Apply For MTN Qwik Loan in Ghana

  • Dial MTN Mobile Money code, *170#
  • Select option 5, Financial Service
  • Choose option 3, for Loans
  • Select option 1 to register (new loan applicants) or select same 1 for QWIKLOAN
  • Choose option 1, Get a loan from the next option
  • Continue with option 1 to view Terms and Conditions
  • Enter your MTN MoMo PIN to confirm
  • MTN Ghana with afb will credit the money onto your Mobile Money account.

MTN Ghana will send your loan into your Mobile Money account of which you can withdraw from any MTN Mobile Money agent. You are always reminded to pay your loan within 30 days period.

Vodafone Cash Loan

Aside MTN Mobile Money and AirtelTigo Cash, Vodafone Cash another mobile money service that is used by most Ghanaians for depositing, sending and withdrawal of cash.

If you are looking for how to get a loan from Vodafone, then probably the Vodafone Cash loan is the best you can apply for using Vodafone Cash code in Ghana. You can apply for loan as ease using the Vodafone cash code to borrow money from Vodafone Ghana.

How To Apply For Vodafone Cash Loan

If you are looking for how to apply for Vodafone cash loan as part of instant mobile money loans, then follow the simple steps below.

  • Dial Vodafone Cash short code, *110#
  • Choose option 5, for Financial Services
  • Select option 3, for Loans
  • You will be ask to enter your amount and confirm with Vodafone Cash PIN.

Note: If you are not qualified for the Vodafone Cash loan, you will be asked to select loan option and watch out for something exciting.

MTN XpressLoan

Despite MTN Qwik Loan, the MTN Xpressloan is yet another loan offer that the mobile network has for MTN Mobile Money users in Ghana. You have the chance to apply for a loan and get it within some couple of minutes on your mobile phone without any paper agreement or document.

How To Borrow Money From MTN Xpress Loan

  • Dial MTN Mobile Money Short code, *170#
  • Select option 5 (Financial Service)
  • Choose Option 3 (Loans)
  • Enter option 2 (Xpressloan)
  • Select option 1 (Get a loan)
  • Now, do enter your MoMo PIN Code to continue
  • Choose option 1 (View & Accept offers)
  • Choose the amount you preferred
  • Enter option 1 to confirm your repayment plan
  • Wait for MTN Ghana to credit the money into your Mobile Money wallet.

Now, you’re done on applying for a loan from MTN Xpressloan offer — as you will receive payment from MTN into your Mobile money account.

Fido Loan

Fido Loan application gives you instant mobile money loan once your application is approved and no matter your location, you will be given this loan provided you meet the requirements.

Fido Money Lending Limited (FIDO) is a financial institution that is based in Greater Accra, operating with a license by Bank of Ghana.

Applying for loan from Fido Loan is very interesting in such that, one does not need a collateral or guarantor before a loan will be given to you.

How to apply for loan from Fido Loan

  • Download the Fido Mobile App on Google Play store
  • Fill the loan application in the app
  • You will receive your money instantly into your Mobile Money account
  • Repay on time to stand the chance of getting higher amount during your next loan

Kindly keep in mind that you will get up to GHS 200 on your first loan application, and might be given up to GHS 600 once you unlock the initial limit.

MTN Ahomka Loan

This is a loan service that is offered to selected MTN Ghana customers who are in need of financial assistance. You can apply for a loan and get it within 1 minute on your mobile phone.

How to borrow money from Ahomka Loan

  • Dial MTN Mobile Money Short code, *170#
  • Select option 5 (Financial Service)
  • Choose Option 3 (Loans)
  • Enter option 3 (Ahomka Loan)
  • Select option 1 (Get a loan)
  • Now, do enter your MoMo PIN Code to continue
  • Choose option 1 (View & Accept offers)
  • Choose the amount you preferred
  • Enter option 1 to confirm your repayment plan
  • The money will be credited to your Mobile Money account.

Smartcash Loan

Just like MTN Mobile Money loans (Qwik Loan), Smartcash is also another loan service that is provided by afb Ghana. Since the establishment of afb Ghana in the year 2010, the financial institution has grown in the provision of loans in Ghana. Some of their loan products are; Payroll Loan, Qwik Loan and the Smartcash.

Loans from smartcash are received within 24 hours of application that does not require any collateral, guarantor nor any bank account before. Applicants receive cash directly into their mobile account instantly.

Paylater Ghana (Carbon)

Previously Pay Later, this allows you to apply for a loan from GHS 80 to GHS 100 on your initial loan request. The best way to get higher amount of loans is to pay constant for previous loans when the time is due.

How to apply for Carbon Loan (Pay Later)

If you want to apply for a loan from Carbon (Pay Later), then first of all download the app from playstore and register to apply for loans on your mobile phone.

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