Adamfopa loan is one of the loan products you could try out in Ghana. Fintech must be one aspect of technology that deserves praise if there is anything we can do to celebrate it. This is because it has improved the use of financial services and automated delivery. Fintech’s invention has benefited society, including the mobile loan.
In Ghana, getting a loan from a bank, friend, or family member is not always guaranteed. Consequently, when people have no cash flow, it becomes difficult to implement their company ideas.
But now that mobile loan apps are available in Ghana, people can access cash flow within five minutes.
Read on to learn how to apply for an instant loan from Adamfopa.
What Is Adamfopa?
Quick loans are available from Adamfopa for Ghanaians with good credit. You can effectively access credit from them at any time and anywhere. Therefore, by offering loan services, Adamfopa can assist you in resolving your financial issues if you have good credit.
Who Is Eligible For Adamfopa Loan?
Before you can access any loan type, you must be eligible. So, the following are their eligibility for loan application:
- The applicant must reside in Ghana.
- The candidate must be between the ages of 20 and 55.
- All applicants must show the source of his/her monthly income
What makes Adamfopa loan better than its competitors?
You may know the several mobile lending apps available in Ghana. You might ask why you should pick an Adamfopa loan over the competition.
Here are some justifications for selecting Adamfopa:
- You can use your credit to apply for a loan. No upfront payment is required before receiving the loan, nor are any deposits or guarantees required.
- GH₵5,000 maximum. Pay out your mobile money (MTN, Vodafone, or Airtel Tigo) every so often.
- A digital and paperless procedure done through your phone. You can complete every step online.
- They never share your information with a third party without letting you know. With them, your data is completely secure.
- Do not stress about forgetting to pay. They’ll remind you by sending an SMS.
What is the interest rate?
Every loan comes with an interest rate, for Adamfopa Loan interest rates range from 7.16 percent to 22.01 percent yearly.
If you request a GH₵1,000 loan, the period is 120 days, the yearly interest rate is 10.95%, and the service rate is zero.
So, the daily interest rate of 10.95% divided by 365 days equals 0.03%.
The interest rate for 120 days is $1,000 multiplied by 10.95% divided by 365 days is 36. The total payback equals 1,000+36= GH₵1,036.
How to apply for Adamfopa loan work?
Do the following to apply for an Adamfopa loan:
- From the Google Play Store, download the Adamfopa app.
- Register an account.
- Pick up the product you want to apply for.
- E-sign the loan agreement while you have filled out your basic information. Then submit the application.
- You may receive a call for verification after the submission. They will show the final application result in the app and inform you by SMS if approved.
- They will disburse money into your selected account.
What is the Adamfopa loan term?
The loans lenders offer their customers always have terms. However, for Adamfopa, their loan term is 91-180 days. Whereas the service charge is from 0% to 1.35 %.
What are the contact details of the Adamfopa loan?
For more information, contact Adamfopa Loan if you have questions or difficulties.
- Office address: 7 Obaakrowa Close, Accra-NewTown.
- Email: firstname.lastname@example.org
- Tel: +233 247789757.
Having read the details of the Adamfopa loan in this article. You may now decide to explore their loan offers. However, ensure you do not get the loan you cannot repay, as it will affect your credit score. Besides that, the inability to repay your loan makes your financial situation way worse than it was. Therefore, ensure you can meet their requirements and be able to repay before getting an instant loan from Adamfopa loan.