Hello, guys, today I’m going to share with you 5 trusted apps that allow you to borrow money. As you may know, getting a loan from a bank or financial institution has become more complicated in terms of loan processes.
Just like our previous article, we table Nigeria’s Best and Fast Loan Apps for 2020. So, we are also taking you through to the best loan apps in Ghana without any collateral.
Advantages of using loan apps
These are some of the advantages of using a loan app.
- No collateral
- 24/7 availability
- You don’t need to present any paperwork
- Flexible payment options
Best Loan Apps in Ghana For Online Lending
Carbon is one of the leading and trusted loan apps in Ghana. It was formally called Pay Later. With the Carbon app, you are entitled to borrow money from 80Ghc to 100Ghc on your first request. Your chances of getting bigger loans depend on how fast you pay your existing loans. The Carbon app also allows you to make payments for bills, airtime, money transfer, and so on.
Go to Google Playstore and search for Carbon to download. Once downloaded follow the registration instructions.
Fido is another popular loan app here in Ghana that offers short-term loans. Fido can give you a loan of 200 Ghana cedis on your first attempt. Just like Carbon, how fast you pay back your loan qualifies you for bigger loans.
You can download the Fido app from the google play store; tap on your google play store app and search Fido to download.
Fido pays the money into your mobile money account.
This is another app that offers quick loans for users who are interested in taking small loans. Fair Money gives up to 1000 Ghc as a loan with a repayment period between 60 to 180 days depending on the amount you borrowed with an interest rate of 10 to 30 percent which is very good.
Sika Master is an online-based financial institution that gives loans to individuals or companies who are interested in getting soft loans. With Sika Master you can get very low-interest rates and some interest-free loans as well. You can get up to 1,000GHc to 100,000GHc as a loan. Visit their website to learn more about them.
MTN Qwikloan is one of the biggest platforms that offer quick loans in Ghana. The MTN Qwikloan are partnered with AFB Bank which makes it easier for them to offer loan services. For MTN mobile customers you can get up to 1000 GHC instantly.
Unlike most leading apps in Ghana, here is some requirement you need to meet before you can be granted a loan on the MTN Qwikloan platform. These are what you need to be qualified;
- You must be above 18 years and above
- You must be an active MTN user for not less than 90 days
- You must be a registered user of MTN Mobile Money service and must actively use the wallet for transactions.
- Also note that if your wallet activity transactions are very low, you may not be qualified to apply for a loan.
Disclaimer: Please make sure to read the term and conditions before applying for any of these loans we have mentioned above.