Tuesday, June 18, 2024

Instant Mobile Money Loans In Ghana


Living paycheck to paycheck can be challenging, primarily when an emergency arises, jeopardizing your financial plans. Without savings or access to a traditional bank account, obtaining credit can be lengthy and arduous, often requiring collateral or guarantors. However, there is a silver lining—mobile money loans in Ghana have come to the rescue, offering a convenient and accessible solution for those needing quick cash.

18 Instant Mobile Money Loans In Ghana

A Game-Changer In recent years, many lenders in Ghana have embraced technology by developing mobile apps that facilitate instant cash loans. These mobile money loans provide low-interest short-term borrowing choices, making them an appealing alternative to traditional credit providers. Depending on the lender, clients can obtain up to GHC 15,000 loans and repay them over 30, 60, or 90 days.

The Power of Mobile Money Lenders, Unlike when securing a loan was cumbersome, you can now obtain instant loans from your smartphone. Here’s a list of some reputable mobile money companies in Ghana that offer instant loan services through their apps:

1. Qwik Loan by MTN

A very reliable Loan service by MTN, one of Africa’s leading mobile network operators. Customers can access quick and easy loans through their mobile phones and to qualify for the loan, you must have an MTN mobile money account active for at least 90 days and have a good repayment history.

MTN offers loans ranging from small amounts up to 1,000 Ghana cedis based on the customer’s creditworthiness and repayment history. Lenders transfer the funds directly to the customer’s mobile money account, and borrowers can use the loan for any purpose, including bill payments and purchases.

To apply for a loan from Mtn, customers can dial *170# on their MTN line and follow the application prompts. The loan application process is quick and easy, and customers typically receive their loan within minutes of application.

“Mtn loans offer a convenient way for customers to access credit without traditional bank loans or credit checks. However, it’s important to note that these loans come with interest and fees, so you should assess their ability to repay before applying.

2. Fido Money Lending

Fido Money Lending
Fido Money Lending

A financial technology (fintech) company based in Ghana that offers personal loans to individuals through their mobile app. In 2018, the company’s founders wanted to make it easy and quick for underserved Ghanaians to get credit.

This lending company evaluates its customers’ financial health using alternative credit scoring methods. It involves looking at customer call logs, mobile money transaction histories, and other data to determine their ability to repay their loans. Allows Fido Money Lending to provide loans to individuals needing a credit history or collateral.

Customers can apply for a loan through the Fido Money Lending mobile app, available for download on the Google Play Store. Getting loans from them is snappy and easy; customers can receive a loan decision within minutes. Lenders offer loans ranging from 100 to 2000 GHS; borrowers typically repay them over 30 to 90 days.

Fido Money Lending charges interest and fees on its loans, which vary depending on the loan amount and repayment period. The company offers rewards and discounts to customers who make timely loan repayments.

Lastly, If you are looking for instant mobile money loans in Ghanathen Fido Money Lending provides a convenient and accessible way for individuals in Ghana to access credit when needed.

3.CashGhana Limited

This financial technology (fintech) company based in Ghana offers digital financial services to individuals and businesses.

This entity delivers mobile money, bill payment, remittance services, and microloans to individuals and small businesses.

CashGhana Limited’s microloan service, called “Sika Loan,” allows individuals to borrow small amounts of money between 50 GHS and 1,000 GHS, which can be repaid within 7 to 30 days. You will receive your loan application quickly and efficiently.

As a customer, you can apply for a loan through the CashGhana Limited mobile app, available for download on the Google Play Store.

To apply for a loan, customers must have a CashGhana Limited account, which can be created by providing their personal information and mobile money account details.

The loan amount and interest rate are determined based on the customer’s creditworthiness and repayment history.

CashGhana Limited charges interest and fees on its loans, depending on the loan amount and repayment period. The company also offers incentives and discounts to customers who make timely loan repayments.

Lastly, they provide a convenient and accessible way for individuals and small businesses in Ghana to access credit when needed.

4. Access Bank PayDay Loan (Ghana)

Access Bank PayDay Loan (Ghana)

Access Bank PayDay Loan is a short-term loan product by Access Bank in Ghana, and it offers speedy and convenient loans to employed individuals who require funds to cover pressing financial needs before their next payday.
To access an Access Bank PayDay Loan, one must be a salaried employee of a reputable Ghanaian company and have an active salary account with Access Bank. A customer’s loan amount depends on their monthly salary.
Access their loan by dialing *90111# on your phone to apply or visit any Access Bank branch to use, and when the loan is approved, the funds are disbursed into the customer’s account within 24 hours.
The loan is designed to be repaid within a month or on the customer’s next payday.
Access Bank PayDay Loan provides a convenient and accessible way for salaried individuals to access credit when needed.

5. Vodafone Ready Loan

Ready Loan is a microloan product by Vodafone Ghana, a telecommunications enterprise in Ghana. It provides quick and easy access to loans to Vodafone customers who require cash to meet their urgent financial needs.

To be eligible for a Vodafone Ready Loan, you must be a Vodafone Ghana subscriber for at least 90 days. A customer’s loan amount depends on their creditworthiness and repayment history and typically ranges from 20 GHS to 1,000 GHS.

You can request the loan through the Vodafone Ghana mobile app or by dialing a short code on your phone, and once the lender rectifies the loan, they wire the funds into the customer’s Vodafone Cash wallet within minutes.

Lenders design Vodafone Ready Loan to be repaid within 14 to 30 days. Even though the loan comes with an interest rate, you will get discounts on interest if you make timely repayments.

6. Lend From AirtelTigo Money

Lend From AirtelTigo Money
Lend From AirtelTigo Money

AirtelTigo, a company in Ghana, offers this mobile money service. They boost financial transactions on mobile phones in Ghana. Loans from AirtelTigo Money are easy to use and accessible to everyone, regardless of their economic status.

The loan service is in 3 categories, payback Fido loan, Flexiloan, and Speed loan. To register for the service, use the AirtelTigo Money app or dial *110# and follow the prompts.

Getting loan amounts from 5 GHS to 2,000 GHS depending on your creditworthiness and repayment history. You can apply for a loan by dialing a short code on your phone.

When the loan goes through, AirtelTigo will pay into their Money Money wallet within minutes.

AirtelTigo Money offers competitive interest rates and flexible repayment terms, with loan repayment periods ranging from 7 to 30 days. Further, users can also enjoy discounts on interest rates if they repay timely.


BloomKash is a reputable online lender in Ghana. Their user-friendly mobile app makes accessing credit quick and convenient. The loans provided by BloomKash have varying repayment periods, ranging from 91 to 365 days. Borrowers can receive loans from a minimum of GHC 65 to a maximum of GHC 1,000. The interest rates are competitive, with a minimum of 0.1% to 1% daily and an annual rate ranging from 36.5% to 360%.

8. Blue Financial Services Ghana Limited

Blue Financial Services offers both term and emergency loans as a trustworthy alternative to quick loans in Ghana. Borrowers can receive cash electronically within 24 hours of application. The company’s loans are suitable for various needs, with emergency loans having a 30 to 90-day repayment period and term loans extending up to 48 months. Interest rates are competitive, ranging from 2.62% to 3.96% per month, depending on the loan duration.

9. Blue Horizon Microcredit

With a diverse range of loan products, Blue Horizon Microcredit caters to different customer segments, including salaried employees, government workers, and rural communities. Their app allows borrowers to access executive salary, group, institutional, and instant loans. The administrative salary loan offers a convenient monthly repayment plan, while the instant loan provides flexible payment options for government workers.

10. First National Bank

This bank offers personal loans to cover unforeseen circumstances and provides a financial facility for debt consolidation or new loan applications. What sets them apart is their ability to offer a personal loan even if you have an existing one. Applying for a loan is hassle-free, with an online application process involving proof of income and an employment contract.

11. GTBank QuickCredit

GTBank’s QuickCredit service allows retail customers instant cash, including a salary advance of up to 100% of their monthly income. For a 30-day payback period, the bank charges a moderate interest rate of 1.5%. Borrowers can use their mobile phones to access this service by dialing *7370# and selecting Payday Credit.

12. Izwe Savings & Loans 

Izwe Savings & Loans streamlines the borrowing process, offering personal loans of up to GHC 40,000 with a maximum fixed term of 72 months. Civil service workers benefit from affordable monthly payments. Borrowers can apply through various channels, including the call center, agent network, branch, callback, or online. The online application is the most convenient, with processing times as short as 20 minutes before disbursement.

13. UMB SpeedApp

UMB SpeedApp is a secure online banking application that allows users to manage their accounts and conduct financial transactions conveniently. The app offers various loan products, including salary overdrafts, solar, personal, scheme, auto, and executive loans. These options cater to different financial goals, from handling emergencies to offsetting financial obligations before payday.

14. Ecobank Personal Loan

Ecobank’s Personal Loan is a flexible all-purpose loan with convenient repayment plans. Borrowers can access more funds after repayment; tangible collateral is not required. Short-term loans are also available for unexpected financial needs, allowing access to up to 50% of the net monthly salary. Charges are incurred based on the amounts utilized.

15. Direct Savings & Loans

Direct Savings & Loans offers diverse loan products to cater to various customer needs. The Bullet Loan assists during emergencies or quick turnaround situations, with a minimum borrowing amount of GHC 1,000. For salaried employees, the personal/salary loan supports short-term financial needs with a repayment period of 12 months, allowing borrowing from GHC 5,000 to GHC 20,000.

16. SRF Micro Credit: 

SRF Micro Credit provides fast and easy short-term loans for individuals and businesses. Their employee loan helps cover expenses until the following payday, while personal loans offer timely cash flow for bill payments or asset acquisition. The online application takes approximately 48 hours, with multiple repayment options available.

17. Stanbic Bank USSD Mobile Banking: 

Stanbic Bank’s USSD Mobile Banking service allows users to access essential banking services via mobile devices. Borrowers can apply for a personal loan through this service, with amounts ranging from GHC 700 to GHC 200,000. Additionally, the bank offers salary advances and overdrafts tailored to meet cash flow needs until the next paycheck, making it a convenient option for short-term financial requirements.

18. Carbon Loan App: 

The Carbon app provides users with a centralized platform to manage their finances securely. Apart from sending, receiving, and storing money, users can also avail of short-term loans from the app to address urgent financial needs. The loan amounts range from GHS 100 to GHS 5000.

Frequently Asked Questions (FAQs)

How to get an instant loan in Ghana

Getting instant mobile money loans in Ghana has become hassle-free. Choose preferred lenders from those mentioned earlier, submit your personal information, and attach the required documents. After submission, your request will be reviewed, and upon approval, the loan amount will be paid into your Momo account. Online loans in Ghana have revolutionized the borrowing landscape, making financial assistance readily available to those who need it most.

Conclusion on Instant Mobile Money Loans In Ghana

The evolution of mobile money loans in Ghana has transformed how individuals handle financial emergencies. With many reliable lenders and user-friendly apps, borrowers can access instant cash loans with flexible repayment terms. These innovative solutions provide much-needed financial support, ensuring individuals can tackle unexpected challenges without derailing their spending habits or long-term plans.

Collins Tagoe
Collins Tagoehttps://extratrendsgh.com/
Collins Tagoe is a passionate Tech guy and a Digital Marketing Expert who drives online success with a proven strategy, compelling content, and data-driven solutions; I collaborate with brands to boost their online presence and achieve accurate results. I first found Kpoyagahack. My experience as an acclaimed blogger, social media manager, and digital marketer enables me to showcase my unique value through creative and technical expertise in the Latest internet trends, making money online tips, and Loan reviews. I am a dedicated person for news updates in my chosen niche. Whether you need help with content creation, social media growth, ad campaigns, or an integrated digital strategy, I've got the skills and vision to help your brand thrive.


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