Technology has advanced in such that, you can now apply for instant online loans without collateral in Ghana.
Unlike previous days that a user will have to provide collateral, guarantor or witness before a loan can be granted, you can now apply for loan and get it deposited into either your mobile money account or bank account instantly.
Nobody likes to hear that statement to provide collateral before acquiring a loan — since they are part of the basic requirements for getting a loan in Ghana. With this, it’s either you provide documents of your house, car or any assets you own.
But what happens if you do not have any asset to provide for the acquisition of loan.
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In this article, I will like to highlight for you some of the Online Loans You Can Apply Without Collateral In Ghana.
These are the Online Loans You Can Apply Without Collateral In Ghana.
MTN Mobile Money Loans
MTN Ghana has instant mobile loans for its subscribers, and it only required that you have an active MTN Mobile Money account that has been transacting for long.
Also: How To Apply For MTN QwikLoan In Ghana
You can apply for this loan from your mobile money account and pay later using same MTN Mobile Money account.
MTN Ghana has a lot of loan services for its Mobile Money subscribers and these are;
MTN QwikLoan
MTN Qwikloan can be applied from your MoMo account and pay after a period of 30 days. There is a charge incurred as interest you will have to pay in addition to the amount you borrowed from MTN Ghana. A lot of MTN Ghana subscribers do apply for this loan and forget to pay on the actual date, and this is why we have for you How To Repay Your MTN QwikLoan.
With MTN Mobile Money loans or anything about how to borrow money from MTN Mobile Money, MTN Qwikloan has become the most popular loan service for MTN MoMo subscribers.
MTN Xpressloan
The MTN Xpressloan is working like MTN Qwikloan, that allows you to apply for Mobile Money loan and pay within a 30 day validity.
MTN AhomkaLoan
There is no difference between MTN Xpressloan and MTN Ahomkaloan — just that the companies that grant the loan. You have the chance to apply for a loan from MTN Ahomkaloan and get it instantly in your MTN Mobile Money wallet.
MTN Qwikloan, MTN Xpressloan and MTN Ahomkaloan all do not require any collateral before a loan can be granted from MTN Ghana.
Fido Loan
Apart from MTN Qwikloan and others, Fido Loan is yet another Loan service to talk about. Fido Loan allows you to apply for instant mobile money loans and get it credited into your Mobile money account in Ghana.
Fido Micro Credit is in charge of Fido Money Lending service that gives personal loans, business loans and emergency loans to repay and have the chance to acquire a maximum loan amount to GHS 1,000.
There can be a short code to get Fido loan since a lot of users are finding how to get Fido loan using USSD.
When applying for Fido Loan in Ghana, you are only required to provide your ID, residential details and your employment details during the registration.
You loan will be credited into your Mobile Money account when you are qualified for Fido Loan and have a validity of 30 days to repay your loan.
For more information about how to apply for Fido Loan from Fido Money Lending, you can read our full guide here: How To Apply For FIDO Loan And Get Up To GHS 1000 In Ghana
Carbon (Paylater)
Formerly called Paylater, Carbon has become one of the best online loan services in Ghana that does not require collateral. You can apply for a loan even if you are an individual or personal loan.
You only need to apply for loan and repay using the Carbon Android App.
Carbon requires some information from applicants such as your employment status, bio-data, photograph and the amount applying for.
The amount rangers from GHS 5 to GHS 1,000 cedis without the provision of any collateral.
With Carbon loan, you are not charged for any penalty when you do not pay your loan on the repayment date — but this disqualifies you from getting a loan the next time.
Zidisha Loan
Since 2016 that I got to know Zidisha as an online loan service that does not require collateral, the Loan service has remain to be the same.
You can apply for a loan as highr as GHS 10,000 without the provision of collateral. Zidisha only works in a peer to peer loan company format operating over the internet.
Despite the acquisition of loan, Zidisha serves as a platform for individuals to raise capital for their projects and businesses online.
Zidisha requires that you provide the objectives of your business, market niche, and your repayment plan and a compulsory GHS 40 payment for loan processing.
For how to apply for loan from Zidisha Loan service, kindly visit the website here: Zidisha.org
Wrapping Up
Our needs and demands rise each and everyday, and we sometimes need instant mobile money loans to accomplish our missions. These mobile money loans here are best for you to apply and get a loan without the need to provide any collateral.
We also have our other guide on the How To Apply For Mobile Money Loans In Ghana.
You have the chance to apply for loans and get up to any amount you want if you follow our guides with the links above.