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USSD loan codes in Ghana – What you should know

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USSD loan codes in Ghana shorten many processes of loan applications at financial institutions. These USSD loan codes help you access various banking services with your mobile phone. Therefore, they wouldn’t need your presence in their office to offer you financial services. Because of this, rigorous processes to get quick cash flow are now things of the past. With USSD loan codes, you wouldn’t need to visit loan companies’ offices to make enquiries and apply for loans anymore. 

Information on what USSD codes are all about, how you can access the codes and so on are all-inclusive in this article.

What is USSD code?

USSD means Unstructured Supplementary Service Data.

USSD is a code for free mobile banking service. It enables you to access basic banking services on your mobile phone, smartphones, and tablets. They do this without consuming data or call credit from your telecommunication network provider. Also, with USSD codes, you can easily get every information you require about a loan on the loan platform. It provides easy access for customers in transacting on their bank accounts without stress and inconveniences.

We can use it for mobile-wallet, callback services, loans, network configuration services and so on.

What is USSD Banking?

USSD banking involves financial transactions through the use of quick or short codes on your mobile phones. Apart from paying bills and making subscriptions with USSD codes. You can also use USSD codes to get loans.

How to use USSD loan codes in applying for loans

Knowing that USSD codes help to make loan applications easier. You can simply follow the steps below for a quick and easy loan application at the comfort of your home or office:

  1. Have Knowledge of your loan provider 
  2. Get the functional USSD code
  3. Meet all minimum requirements for that loan
  4. Dial the code on your registered network with your mobile phone
  5. Follow the prompt
  6. Get your loan

USSD loan codes in Ghana

There are many USSD codes for financial institutions in Ghana. You can check out the list to apply for a loan through USSD. You just need to dial the code into your phone and follow the prompts that pop up. USSD Codes for loans in Ghana Include: 

PlatformUSSD Code for Loans
AB Microfinance Bank*389*755#
Access Bank Payday Loan*901*11#
Accion Microfinance Bank*572*6#
Airtel quick, Cash*561#
ALAT Loan by Wema Bank*945*100#
Aladdin Nano*903#
Carbon Loan*1303#
Ecobank Xpress*326#
Etisalat*561#
Fairmoney Loan*322*2#
FCMB*329#
First Bank First Advance*894# or *894*11#
Glo Cash*322*1*04225701*Amount#
GTBank Soft Loan*737*51*51#
HFC Loan*618#
Interswitch*322#
Izwe Loan*483*69#
Kwikcash*561#
Migo loan*561#
Mjara loan*565*5#
MTN Cash*606*4#
Trader Moni*540#
Paga *242#
Payattitude *569#
Quickteller Loan (MTN, Etisalat & Airtel)*322#
Quickteller for Glo users*805#
Teacher’s Mutual Fund loan*718*60#
Zenith Bank Loan*966#
ECO Bank*326#
Stanbic Bank Ghana*715#

Note: 

  1. You can have full access to financial information and carry out transactions on the go; anywhere and anytime.
  2. No need for a computer, internet, bank branch or cellular data to carry out your transactions.
  3. Mobile top-up credit is always available for buying a scratch card.
  4. It is always reliable and convenient

Requirements for USSD loan codes in Ghana

For you to use the USSD loan codes, there are requirements you will meet. The requirements for USSD loan codes are nothing to worry about. You need to have an account with some banks to access the loans they offer via USSD codes. They do not require collateral before you can access the loan.

Some other savings and loan companies do not require an account. Rather, they ask for your personal details, Bank Verification Number (BVN), and account details. Some banks may require:

1. Online Registration

When you register for online banking, you sign up for USSD Mobile Banking. You will receive your PIN for logging in after they have granted you full access to online banking. Upon receiving the PIN through SMS, login to USSD Mobile Banking by dialing the USSD code on your mobile phone.

2. Paper Registration

Go to any branch and request to sign up for online banking and mobile banking. Complete the E-banking application form. You will receive your PIN for logging in after they have signed you up by Bank Customer Service. Upon receiving the PIN through SMS on your mobile phone, log in to USSD Mobile Banking with your PIN by dialing the USSD Codes on your mobile phone. They will ask you to change your PIN to the one you are most convenient with.

Uses of USSD loan codes

Having known the requirements and how to apply for loans with USSD codes. It is also good to note the uses. You can use it for: 

  1. Balance Enquiry
  2. Mini Statement 
  3. Self-Funds Transfer
  4. Beneficiary Payment
  5. Mobile Top-Up.
  6. Instant Cash

Benefits of USSD loan codes

There are a lot of benefits that come with the USSD codes for loans. You really need to know what you stand to gain, which includes:

  1. There is no need for data
  2. It is more secure
  3. You have control over it
  4. It works on any mobile device

Conclusion

Getting loans with USSD codes is very easy and quick. All you need to do is meet the requirements for the loan you seek from the loan provider. Dial the correct USSD code, then you can have your money right in your account. Ultimately, the right use of these USSD codes will ensure you do not fall prey to loan sharks. However, repayment of the loans you get is essential. This is because it will improve your credit score, so that you can access another loan in the future.

MTN Ahomka Loan Ghana – What You Should Know

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In recent years, mobile financial services have transformed how Ghanaians manage their money, offering unparalleled convenience and accessibility. MTN, a leader in this space, has introduced the MTN Ahomka Loan, a service designed to support customers during financial crises, particularly in response to the COVID-19 pandemic.

The MTN Ahomka Loan is a short-term, unsecured cash loan that is deposited directly into your Mobile Money wallet. It is similar to MTN’s Qwik Loan and Xpress Loan but stands out for its simplicity and ease of access. To apply, all you need is a registered and active MTN phone number.

Whether you need to cover unexpected expenses or manage daily costs, the MTN Ahomka Loan provides quick and convenient financial relief. Read on to learn more about how to apply the terms and conditions, and much more.

Ahomka loan has remarkable qualities of its own while being comparable to MTN Qwik loan in several ways. 

mtn-ahomka-loan

About MTN Ahomka Loan

The word “Ahomka,” which means “Emotions” or “Feelings,” may be MTN Ghana’s response to the predicament of the many Ghanaians who are experiencing financial hardship. The MTN Ahomka Loan is a financial service designed to provide quick and convenient short-term cash loans to MTN Mobile Money users in Ghana. Launched to support customers during financial challenges, especially in light of the economic impact of the COVID-19 pandemic, the Ahomka Loan offers a lifeline for those needing immediate financial assistance. All you need is an active MTN MoMo account; neither savings nor documents are required.

Requirements for MTN Ahomka Loan

You need to meet some requirements to land the MTN Ahomka Loan. They include:

  • You must be 18 years old or older.
  • Be a subscriber to MTN Ghana for over 90 days.
  • You should actively utilize the Wallet for transactions, such as sending and receiving money, buying airtime, and paying bills, among other things, and be registered for the MTN Mobile Money Service.
  • You might not be eligible for the MTN Ahomka Loan if your MTN Mobile Money wallet activity is too low or if you haven’t used the wallet at all.

How to Qualify for MTN Ahomka Loan

You must consistently top off your talk time balance and conduct transactions using your MoMo account in order to be eligible for a loan.

How to borrow money on Ahomka Loan?

You can follow the steps below to get the Ahomka Loan:

  • Just dial *170#
  • Choose option 5 (Financial services)
  • Choose option 3 (Loans)
  • Select option 3 (Ahomka Loan)
  • Choose option 1 (Get a loan)
  • Select your Mobile Money PIN and tap enter
  • Enter option one, “View offers”
  • Select the option for the amount you prefer. You can choose from GH₵50 to GH₵1,000.
  • Select option 1 to confirm your repayment plan.
  • Await the transfer of your loan to your mobile money wallet.

Important notice: Qualification for an MTN Ahomka Loan depends on your transaction history and airtime usage. Additionally, customers must have their SIM cards linked to their Ghana Card to be eligible for a loan.

What is the Interest Rate of MTN Ahomka Loan?

MTN Ahomka loan has an interest rate of 6.9%, increasing to 12.5% when you default. The maximum amount you can receive via the loan is GH₵1,000.

Keep in mind that they will show you any expenses associated with the loan during the application procedure, so keep an eye out for that.

How Much Can I Get From the MTN Ahomka Loan?

The amount you can borrow with Ahomka isn’t fixed. It ranges from GHC44 to GHC150, and it all depends on how well you use MTN. The more actively you use your MTN MoMo wallet and other MTN services like airtime, data, and SMS, the higher your loan limit could be.

Terms and Conditions

If you’re interested in this loan, read the terms and conditions in their entirety on the MTN website. However, you will incur a late payment fee, as stated when you applied for the loan, if you don’t pay your loan balance by the deadline.

How do I Check my Balance

To check your balance on the MTN Ahomka Loan, follow these simple steps:

  1. Dial *170# on your MTN phone.
  2. Select option 5 for Financial Services.
  3. Choose option 3 for Loans.
  4. Select option 3 for Balance Enquiry.

Alternatively, you can use the MTN MoMo App. Simply navigate to the Loans section and select Balance Enquiry.

Conclusion

The MTN Ahomka Loan has come to stay just like MTN Qwik Loan and other loan products MTN offers their customers. Besides that, there are other Momo Loan you could look out for in Ghana. Or better still, check out other loan offers from network providers in Ghana.

Frequently Asked Questions

1. Why Can’t I Request Another Loan After Paying my Previous Loan?

If you are unable to request another loan after repaying your previous one, it could be due to several reasons:

  • A. Late payment of previous loan requests
  • B. Ghana Card Linkage: Make sure your SIM card is linked to your Ghana Card, as this is a requirement for loan eligibility.

How to get up to GH₵1000 through Fido Money Lending limited

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Are you in need of a quick loan in Ghana? If you’re looking for a reliable and convenient way to secure up to GH₵1000 in loans, you’re in the right place.

Fido offers loans to people in Ghana that can take care of their immediate financial needs.

Fido loans

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How can I apply for the Fido money lending limited loan?

Ways to apply for loans differ across financial institutions. And because of this, you must follow through with the instructions they give you for the loan application. You can apply by dialing the Fido loan code *711*999# and following the instructions.

The following is how you can apply for FIDO loans:

  1. You can visit any of the FIDO loan branches nearby to request for the loan.
  1. Download the app, then fill in your details. You only need to do this once. Thereafter for subsequent applications you just need to confirm your details only.
  1. Apply for the loan.
  1. You would receive an immediate loan decision from them. If they approve your loan application, then you will receive the money instantly into your mobile money account.

What are the requirements for getting a loan from Fido Money Lending Limited?

Fido Loan has some requirements. These documents are used to evaluate your loan application and for documentation purposes.

The following are the requirements for the FIDO loans:

  1. Get your valid ID (voter’s ID and biometric passport)
  2. Bring a mobile money account that is at least 2 months old
  3. Be a Ghanaian or a resident in Ghana over 18 years of age.

Note: They might ask some customers to visit their branch if they can’t verify them appropriately online.

What is the minimum and maximum loan amount I can borrow?

You must consider where you can get the amount of loan you need whenever you need one. The minimum amount of loan you can get from FIDO loans is GH₵200. Whereas their maximum loan amount is GH₵1000.

What is their interest rate?

The interest rates of loans could encourage or discourage a borrower while assessing loan lenders. The interest rates of FIDO loans are usually 14% for 30 days. You’ll see it in the app before applying. However, returning customers who have an excellent credit history of paying their loans will get better interest rates. However, the lowest interest rate for FIDO loans is 8% for 30 days.

What are the features of Fido loans?

There are some features Fido loans have that make them unique in Ghana. 

Fido loans have the following features:

  1. The loan is straightforward to obtain and apply for.
  2. The loan has a 30-day repayment period. The lowest loan amount is GH₵200, with a maximum loan amount of GH₵1000.
  3. They only allow customers to have one loan at a time and can only apply for another after paying off the previous one.
  4. You can use them at any time.
  5. Can be applied anywhere and anytime
  6. There are no collateral requirements, guarantors, or application fees.
  7. Pay on promptly and you’ll be able to increase your loan amount to GH₵600.
  8. They’ll deliver your money to your mobile wallet immediately.

What are the repayment terms for FIDO loans?

FIDO loans have flexible repayment terms, and the applicants are free to choose the one they prefer. The repayment terms of FIDO loans are usually between 10 and 90 days. And you can repay it in one or multiple installments. But this especially depends on your eligibility.

How can I repay the Fido loan manually?

Fido money lending has made it easy for customers to repay their Fido loans manually. They can do this using MTN Mobile Money and Airtel Mobile Money.

The following is how you can repay your Fido loan manually using MTN Mobile Money:

  1. Dial *170#.
  2. Choose Option 2 for MoMoPay & Bill Payment.
  3. Choose option 2 for Loans to Pay Bills.
  4. For General Payment, choose Option 5.
  5. Enter the following payment code: Fido
  6. Enter the Amount and Reference:
  7. To Confirm, Enter Your Pin.
  8. After entering your MOMO Pin, Fido Loan will automatically debit the loan amount plus interest from your account on a monthly basis.
  9. You will receive an SMS notifying you that they have debited the loan from your Mobile money account.

The following is how you can repay your Fido loan manually using Airtel Mobile Money:

  1. Dial *501#.
  2. Choose: Pay Bill.
  3. Choose between Savings and Loans.
  4. Select Loans and Loan Repayment from the drop-down menu.
  5. Select: Repayment of a Loan
  6. Choose Repay Fido Loan from the drop-down menu.
  7. Choose Amount:
  8. Enter Reference: *********
  9. Enter Pin Code: _ _ _ _

How can I repay the Fido loan with cash?

Having seen how you can repay the Fido loan through MTN and Airtel Mobile Money. You can also repay the Fido loan with cash through the following guide:

  1. Visit any Zenith Bank branch close to you.
  2. Request a deposit slip.
  3. Fill out the forms with the details below:

Bank: Zenith Bank

Branch: Head Office

Account name: FIDO Money Lending Ltd

Account number: 6010159660

Note: Ensure you write your full name on the deposit slip. Besides that, give your Client ID (********) to the teller.

Why should I try out FIDO loans?

When assessing the options of loan lenders around. The most important thing for you is to make the right decision. Especially the one that will in all ramifications relieve you of stress and drama.

The following are the reasons you should try out FIDO loans:

  1. You can apply from any place, be it your home, office, or market.
  1. You can get a loan request decision within minutes.
  1. There are no hidden fees. The app will display to you all the costs the loan attracts.
  1. You no longer need to wait in bank queues and there is no paperwork.
  1. They do not require collateral and guarantors.
  1. They disburse the money instantly upon approval.

Conclusions

No longer can people only get loans from traditional banks. People used to queue up for a loan all day in banks. But unfortunately, most people go home disappointed. It is no longer the case these days, there are online platforms where you can easily get a loan. Just with your mobile phone, you can get the loan you need. And FIDO loans are one of the few online platforms that disburse funds within a few minutes. However, note that prompt repayment of loans will most likely improve your chances of getting another loan in the future.