Saturday, September 23, 2023

Online Loans In Ghana Without Collateral


Do you want an easy way to get an online money lender to scale your business or pay for something? Awesome! Because I’ll help you choose the best online loans in Ghana without collateral.

It is no elongate news that internet money lending platforms in Ghana are gaining popularity among banks due to the rise of reliable lending apps. Most Ghanaians prefer these online loan providers because of their flexibility and benefits.

Traditional lenders like banks and microfinance require you to get a guarantor, collateral, and other documents you must fulfill before they lend you money- while these internet lenders of loans have no collateral necessity.

As a smartphone user, you don’t need to spend extra money for a long travel to the bank for loans, sit in the comfort of your house or anywhere, and apply from your device and get your money in just a few minutes. Sounds exciting, right? Let’s start right now.

The internet is a medium where you can get much useful information. There are good and bad websites, so we advise you to choose carefully when downloading app programs that lend money; If you don’t, you endanger giving crooked people your information.

Best Online Loans In Ghana 2023

Based on our research, the below are among Ghana’s best online loans with no collateral :

1. Flexi Credit Limit on Palmpay

This platform has a feature that allows users to borrow money from the platform up to a specific limit. Users can borrow money to make purchases or pay bills and repay the borrowed amount over time, usually with interest.

To increase your Flexi credit limit, you must repay the amount you borrowed by the 16th and 1st of each month. You can download the Palmpay app from the play store and enter invitation codes Z2GTDD and GHS20 free.

2. MTN Qwick Loan

Mtn does not only borrow its customers’ airtime. They have launched a service in partnership with Afb Ghana called “Qwikloan.” 

To qualify for this loan, one must actively transact in their MTN Mobile Money wallet beyond 90 days. You can get up to 1,000 Ghana Cedis from MTN Qwick Loan without paperwork, guarantor, or collateral.

The loan from Mtn has an interest rate of 6.9%. The only requirement is that you frequently use MTN mobile money. You must complete the previous loan’s repayment to get future loans.

3. Oze SME Loan

Oze offers loans through a partnership with financial institutions and other fintech for small and medium-sized enterprises. These loans can help businesses with cash flow, expansion, or financial needs.

To be eligible for their loans, you must regularly use the Oze App (for at least 30 days), have applied for a loan, and have passed the Loan Process.

In Ghana, these short-term loans from Oze have interest rates as low as 3% per month. You can pay the loan in twelve equal installments.

4. Fido Loan

One of the most trusted lenders is Fido Loans. This company has its financial firm in Accra registered under Fido Micro Credit. They provide loans through their Fido app, and to apply for its loan service, one must have a valid ID and a Momo wallet. You don’t need queuing, collateral, or guarantors.

For new customers, the 30-day interest rate is 14%, while for returning customers, it is as low as 8%. As a first-time borrower, you can only get up to 250 Ghana Cedis, which you must pay between ten to thirty days. Regardless, borrowing increases a person’s credit score, allowing loanees to get more at lower interest rates. You can also start saving with them and start earning cash.

5.PayLater Loans

PayLater is another loan service that allows individuals to borrow money to meet their financial needs. Their service is for short-term loans, and the application process is usually quick and easy. This company operates in Accra.

To be eligible for its loan, you must apply through its app by creating an account with them. One can get an instant deposit on the loan after the application is submitted.

As a first-time borrower on PayLater, you are given 5 Ghana cedis for first-time druggies at a 5% interest rate. The loan duration is between 15 to 30 days to repay.

Conclusion on online loans in Ghana without collateral

There are a lot of internet money lending platforms you can try out, but the above selection is the services we have tested. Repaying your loans with them will boost your trust score, and you get the chance to get more as you keep using them. Getting online loans in Ghana without collateral is now easy.

Collins Tagoe
Collins Tagoe
A Film Director | Director of Photography | A Programmer | Video Editor | Blogger


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