As a borrower, clearly understanding a loan firm helps you decide whether or not you should prioritize. Reputable lenders adhere to regulations and customer-oriented practices. This article will look at the types of legit loan companies in Ghana that are regulated by the (BOG).
Types of loans in Ghana
- Conventional loans
- Mortgage loans
- Personal loans
- Blue financial services Ghana limited
- Ghana Home Loans Bank
- Home equity loans
- Advance Facility
- Bayport Savings and Loans PLC
- BOND savings and loans
- CashGhana Limited
- Equity Savings and Loans Ltd
- Global Access Savings and Loans
- Microcredit institutions
- Student loan
How to Find the Best Loan Companies in Ghana
When going for a loan, it is vital to have insight into the entity you are going to work for, and here are some crucial methods of finding the best ones.
1: Accomplish a Research Online:
2: Request for Recommendations
3: Check the Bank of Ghana
4: Use Social Media
5. Attend Financial Seminars
Ten (10) Loan companies in Ghana
1. ASA Savings and Loans
This company provides low-income loans to entrepreneurs with the opportunity to start or grow businesses. ASA uses an approach based on individual lending via client groups without joint liability. They offer clients five types of loans: current and savings accounts and fixed-term deposits.
2. Advans Ghana
Advansghana is a top choice for those looking for a financial institution for their small businesses in Ghana. They have over a hundred thousand clients with client-centric finances, including low- and middle-income employees and individuals who are sustainable and responsible.
3. Quick Credit
Quick Credit is an award-winning Micro-Credit institution in Ghana licensed by the Bank of Ghana under the Non-Bank Financial Institutions (NBFI) Act. With this company, you don’t need a savings account or “do susu” before getting loans for your small business.
4. ABii National
It is a Savings and Loans loan company licensed in 2008 under Act 774 law to provide financial services to Ghanaians. ABii National operates like a bank where you can deposit and take loans. They also offer investments with varying maturities priced at highly competitive rates with unique and flexible liquidation terms.
5. Best Point Savings And Loans Limited
This company is registered under the Companies Code, Act 1963 (Act 179) and has been operating since 2012. Best Point Savings And Loans provides savings auto loans, salary loans, import financing, church loans, and loans for small and medium-scale enterprises.
6. Adehyeman Savings And Loans Ltd.
This financial institution focuses on individuals, groups, and small and medium-scale companies within a branch area. Adehyeman Savings and Loans has six branches, and their head office is located at Kokomlemle in Accra.
7. Multi Credit Savings & Loans Co. Ltd.
Multi Credit is one of the oldest loan companies since 1999, located in Kumasi. They offer soft loans to petty traders and service providers to expand their businesses.
8. SIC Life Savings And Loans
This entity delivers personal and business loans with the help of SIC Life Insurance Company in Accra. Its office is located on the Adjaben Road. They also have fixed-income loans, asset financing, and many more.
9. Izwe Savings and Loans
To get loans on Izwe, You will need :
- Original documents from the collateral of your choice
- Valid driver’s license, if applicable
- Two original passport-sized photos of yourself
- Three months’ bank statements
- Post-dated cheques for the term loan
10. Pan-African Savings and Loans
Pan-African Savings and Loans Company Ltd is a tier 2 financial institution and Ecobank group member regulated under Ghana’s Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930).
This company offers savings and investment opportunities and serves as an outlet for remittance products such as Rapid Transfer, Western Union, Moneygram, MTN mobile money, Airtel, Tigo Cash, and Vodafone cash and is presently located in the Greater Accra Region, Central Region, Eastern Region, Brong Ahafo Region, and the Central Region.
Finding the best loan companies in Ghana can be daunting in the era of online loan apps. However, you can find a suitable company that suits your needs with the mentioned firms because they are regulated under the Bank Of Ghana. I hope you found this article helpful.