Smartcash loans Ghana are attractive loan offers. Banks are the place where you go when you need cash loans. They have moved online to make lending easier, but many still require collateral for loans. However, the processing time for your application can be several days or weeks.

Now there are lenders who provide cash loans online without security, such as Smartcash. Instead, you would only need to show you’re employed on a long-term basis and you qualify for a loan. Also, you can afford to repay the cash loan without financial hardships.

Most of the time, Smartcash transfers the loan into your account the same day you have approved your loan at Smartcash. In this article, we will discuss Smartcash loans. Read on to get more information on Smartcash loans.

About Smartcash loans in Ghana

Smartcash loans are online short-term loans that range from GH₵100 to GH₵500. Ghana is one country that uses mobile money loans. It is also instant and lasts up to thirty days. Successful applicants receive the cash within 24 hrs of application. Sometimes, they pay you through your MTN Mobile money wallet or Vodafone Cash wallet. Also, they formed Smartcash financial institution in the year 2010. Smartcash covers a large portion of Ghana’s financial sector. However, they offer different loans, including payday loans and a qwik loan. This loan does not require collateral, security, or a bank account.

Features of a Smartcash loan

Smartcash loans have several features which distinguish them from every other loan. They include:

1. There are no collateral requirements.
2. There is no need for a bank account.
3. You will receive the money in your mobile money wallet.

How long does it take Smartcash to approve your loan?

It takes Smartcash not less than five minutes to approve your loan request.

What is the interest rate on Smartcash loans?

Like every other loan, a Smartcash loan has an interest as well. They offer interest rates as low as 0.134%. However, this usually amounts to an annual percentage rate of 49%.

Is there an extra charge on Smartcash loans?

Usually, they require you to pay GH₵30, which they call establishment fees. Also, they charge GH₵5 fees for each payment they process. Smartcash charges default fees for delay in repayment regarding the agreed period. The default fees are usually 0.134% per day on the outstanding principal sum.

How to apply for Smartcash loans in Ghana

You can apply for a Smartcash loan by downloading the Creditum Prime app from the Google Playstore.

It is the only mobile app to enable customers to access loans with ease.

You can get access to the application form by:

1. The Play store can help you download the app.
2. You’ll need to launch the app.
3. Insert your login details
4. You can apply for a loan by selecting the loan type.
5. Key in all required details
6. Click next to proceed.
7. They will credit your mobile money account when the payment comes through.

What is the repayment for their loan?

Repayment of the Smartcash loan is within the pay periods that you select. Meanwhile, if for any reason, you are having difficulty making your repayments.

Pros of Smartcash loan

Smartcash loans come with lots of benefits to the interest of the applicants. Some pros of smartcash include:

1. It is an instant loan, therefore you can apply.
2. Smartcash loan is a quick loan you can receive in a minute when you make your claims.
3. The application process could be convenient.

Conclusion

The most important thing in getting a loan is accessing the right one. This helps you pursue the things that you seek. Smartcash loan is one of the top mobile money loans in Ghana. The loan application is usually seamless and instant.

The smallest issue can ruin a budget if you’re living paycheck to paycheck. Also, a financial emergency can ruin your spending habits without savings or access to a bank account. In the meantime, you can get some cash from many banks in Ghana, but getting financing can be tiring. There is also no guarantee that you will get the loan. Luckily, Smartcash loans provide a solution.

Other related articles:

AFB mobile money loans- What you should know

Loan application fee – Meaning and special concern

Money lending apps in Ghana you should know

Have you ever thought of car loans for government workers in Ghana? This article bears the answer you need. There are many loans are available in Ghana from various financial firms. Therefore, car loans, mortgage loans, business loans, and educational loans are just a few of the loans available.

In this article, we’ll look at car loans for Ghanaian government employees. Of course, they know employees in the public sector as government workers. So, some employees apply for car loans from several institutions that offer such services. Now, let’s have a look at some banks in Ghana that provide automobile loans to government employees.

What are the car loans for government workers in Ghana?

There are car loans they designed for government workers in Ghana. They are:

1. Societe Generale CAGD Loans

Who can apply for the Societe Generale CAGD loans?

They designed this loan offer for teachers, nurses, doctors, laboratory scientists and technicians, and other health care workers. Also, civil servants in various ministries, departments, agencies, local government employees, and all other government employees can apply.

How does the Societe Generale CAGD loan work?

This loan offer works specifically that’s beneficial for the people who can apply. It works in the following ways:

1. The CAGD loan facility is available to any government employee with sufficient income who does not yet have a salary account.
2. You can get the loan facility for 90% of the affordability.
3. The loan will cover general expenses, household purchases, the start or continuation of various projects, and other personal expenses.
4. The customer completes a loan application form and the CAGD loan input forms and submits them to an SG Bank Officer for processing.
5. The loan is disbursed and transferred to the borrower’s personal account.

What is the loan duration of Societe Generale CAGD loans? 

It’s cool to know the duration of any loan before you get it. This loan has a flexible repayment duration which is up to a maximum tenor of 5 years. 

What are the benefits of the Societe Generale CAGD loans?

This loan has some benefits which include: 

1. An extremely low interest rate
2. Repayment terms that are flexible
3. The loan amount is determined by your financial situation.
4. Refinancing of higher-cost loans from other lenders
5. Service in the privacy of your own office.

2. UBA Flexi Loans For Government Workers

The UBA Flexi Loan offers flexible repayment terms and can be got in as little as 48 hours. All UBA account holders and non-account holders can use the service as long as they pay their salary through the Controller and Accountant General’s Department.

Individual limits for this program are GH₵140,000 for clients without provident funds and GH₵275,000 for applicants with provident funds. Flexi Loan has a 36-month repayment schedule for clients who do not have provident funds. Besides that, it also has a 60-month repayment period for customers who have provident funds and do not demand collateral.

Customers who already have loans with UBA or other financial institutions can get a takeover, top-up, or restructuring for larger loan amounts, longer repayment periods, and lower interest rates.

Note: You can use this loan to purchase a new, used car to help you attain your goal.

Conclusion

This article has shown you some of the car loans for government workers. So, as a government worker who needs a car loan, it’s now left for you to choose the financial institution you prefer. Also, remember that the primary aim of this loan is to help government workers access cash flow to gain cars and repay in the future. However, ensure you repay the loan to avoid being blacklisted by credit bureaus in Ghana.

Related articles:

How to get loans for private workers in Ghana

Car loans in Ghana – Everything you need to know

Societe Generale Ghana Loans- Review

Do not worry about how to get a loan from Orbit Money Lending Ghana. You already know that our financial needs can become overpowering, ‌and the only viable option is to take out a loan. Short-term and long-term loans are available at various financial institutions we have mentioned in this blog. However, you can apply for a personal loan, a debt consolidation loan, or a property loan, among other options. No doubt that the loans listed above are contingent on your specific needs. Orbit Money Lending Ghana offers lending solutions to its consumers. This article covers what you need to know about getting a loan from Orbit Money Lending Ghana.

About Orbit Money Lending Ghana

Orbit Lending is one of Ghana’s fastest-growing internet lending firms. The Bank of Ghana has licensed Orbit Money Lending as a Tier 3 Money Lending Institution. Besides that, Orbit money lending supplies clients with high-quality, timely financial solutions. Consequently, they are contributing to the growth and development of the Ghanaian economy, both public and private.

See Also: Benefits of Consumer lending in Ghana.

Applying for a loan with Orbit Money Lending Ghana

You must apply for a loan before you get it. The following are what you should do to get a loan from Orbit Lending Ghana. They are:

1. Visit their website
2. Select forms/download tap
3. Choose personal loan forms
4. Select ‘Click here’
5. In the first form that appears, fill in the following boxes:
   • Surname
   • First name
   • Title
   • Marital status
   • Nationality
   • Date of birth
   • Your postal address
   • Your location
   • Mobile number
   • Your email address
   • Occupation
   • Select ‘Next’

Fill in the following fields on the second tab (Next of Kin):

1. Surname of next of kin.
2. First name of next of kin.
3. Title of your next of kin.
4. Nationality of your next of kin.
5. Enter the birthdate of your next of kin.
6. Enter your next-of-postal kin’s address.
7. Location of your next of kin.
8. Phone number of your next of kin.
9. Put your next-of-email kin’s address here.

The next option is Loan Request Details, so fill in the following information there:

1. Fill in the loan amount in Cedis in the loan amount column.
2. Fill in the loan amount in words in the next column.
3. Place the loan amount in Cedis inside the column.
4. Enter the loan repayment duration in months.
5. In the column provided, provide the purpose of the loan.
6. Choose between cash and mobile money as a payment method.
7. To use the captcha, check the box that says “I am not a robot.”
8. Select next.
9. Select the next button to validate your information and email it.

If you qualify, they will assess your request and contact you through phone to allow you to access your funds.

Note: You can access the shortcut links to their personal loan, corporate loan, and fixed deposit forms online.

What are their loan products?

Orbit Lending Ghana offers various loan products to its customers. They include:

1. Personal loans

Individual loans for school fees, housing, funerals, and medical bills are available quickly. It is necessary to have collateral security.

2. Medium, small and micro business finance

A loan for commercial ‌use to cover working capital shortages, startup costs, inventory clearance, and other business-related expenses. It is necessary to have collateral security.

3. Receivable discounting

A loan secured by the discounted value of an account receivable’s billed amount. It is necessary to have collateral security.

4. Fixed investment

Borrowing money from the general population and high-net-worth individuals in exchange for high interest rates.

5. Local purchase order finance

Funding enables local purchasing orders to be fulfilled. Orbit Money Lending will receive funds from the purchase order’s issuer. It is necessary to have collateral security.

6. Trade finance

Financing of commercial activity depends on the presence of a market. It is necessary to have collateral security.

Note: You can access the links to their personal loan, corporate loan and fixed deposit forms on their website.

What are the contact details of Orbit Money Lending Ghana?

For more enquiries, you can contact Orbit Lending Ghana through:

1. Address: 7B 2nd Church Crescent Labone

Accra, Ghana.

2. P.O. Box AC 662 Arts Center, Accra.
3. Phone number: Tel: +233302782900

+233302782900.

4. Email: info@orbitmoneylendinggh.com
5. Website: www.orbitlendinggh.com

Conclusion

When you don’t have enough money, loans can assist you in realizing your goals. Besides that, they can assist you when you don’t have any other options for obtaining financial help. What you can achieve with loans should not be the primary consideration. You must also keep in mind the loan’s repayment terms. This is because if you don’t meet the repayment requirements, your credit score would suffer. And this could make you ineligible for future loans.

Other related articles:

Best loan apps in Ghana 2023

Loans in Ghana without collateral – What you should know

How to apply for Mobile Money loans in Ghana

If you really want to know how to get a loan from Standard Chartered Bank Ghana, this article is for you. As you already know, adulthood requires people to get their own home and meet other financial obligations. So, this is unquestionably the burden they must bear at the start of their adult lives. Especially when they are ready to start a family of their own. Alternatively, he may wish to establish a new life away from his parents’ house.

About Standard Chartered Bank Ghana

Since 1991, they have listed Standard Chartered Bank Ghana Limited on the Ghana Stock Exchange. This makes it the country’s oldest commercial bank. They founded it in 1896 as the Bank of British West Africa and functioned as the Central Bank of the Gold Coast until 1953, before independence. Corporate and Institutional Banking, Retail Banking, and Commercial Banking are the three client sectors served by the bank. However, five product groups back them: Transaction Banking, Financial Markets, Retail Products, Wealth Management, and Corporate Finance.e.

What are the loan products of Standard Chartered Bank Ghana?

There are two main loan products they offer. They include:

1. Security Backed Lending

A personal line of credit is a quick and easy solution to cover all of your short-term cash demands.

Benefits:

There are some benefits of this loan offer. They include:

• Get a reasonable price increase based on the amount and number of days used.
• Use your investment as collateral to get cash.
• Cash withdrawals are simple and convenient at any of our 30 ATMs around Ghana.

Features:

The features of this loan offer include:

• Financing covers securities to a maximum of 70% and fixed deposits to a maximum of 90%.
• They provide the market’s most competitive interest rates. As a result, you make good returns on your investments and use a Personal Line of Credit to cover your cash needs.
• The Personal Line of Credit allows you to borrow up to 90% of the value of your collateral.
• Fixed deposits with chartered banks, as well as alternative investments such as bonds, treasury bills, and mutual funds.

Eligibility for the security backed lending

Do the following to be eligible for the loan:

1. You must be between 21-75 years old (for Ghanaians).
2. You must be between 21-75 years old (for residents and Non Ghanaians).

2. Personal Unsecured Loan

Their unsecured loans can assist you in meeting your particular financing needs.

Benefits:

• Take advantage of a 60-month flexible repayment option.
• You can access your account 24/7 through online and mobile banking.
• Get a large loan up to GH₵350,000 with no collateral required.

Features:

• With a flexible payback schedule of up to 6 years, you may simplify your financial management.
• Credit Life Insurance protects you in the event of your death, freeing your loved ones from financial obligations.
• Unsecured loans can help you buy a new automobile, pay for your post-graduate education, or pay for your child’s school expenses.
• You may be eligible for this loan if they pay your salary through a Standard Chartered Bank account.

Documentation they require taking out a personal loan

They require all applicants to present:

1. Application form filled out completely.
2. IID – Important Information Document Passport, driver’s license, national identification card, or voter’s ID.
3. Most recent pay stub.
4. Bank statements for the previous three months.

Application Eligibility for the personal unsecured loan

If you want to apply for the personal unsecured loan:

1. A net minimum salary of GH₵1,000 is required.
2. Be a salaried employee.
3. Anyone who works for one of the nearly 500 companies with which Standard Chartered Bank has signed a Scheme Agreement for Salaried Employees.

The Documents they require

1. Application form filled out completely.
2. Get your passport, driver’s license, national identification card and Voters ID.
3. Most recent wage slip.
4. Bank statements for the last three months.
5. IID – Important Information Document
6. A letter of commitment is necessary.

How much can I borrow from a personal secured loan?

The minimum and maximum loan limits imposed by financial institutions usually limit borrowers’ loan amounts. Personal consumers can borrow up to GH₵250,000 with this lending product. However, priority consumers can get up to GH₵350,000. However, there are certain restrictions.

What are the contact details of Standard Chartered Bank Ghana?

For further enquiries on their loan products, you can contact them through:

1. Phone number: 0302740100
2. Email: ghana.call-centre@sc.com
3. Website: https://sc.com/gh

Conclusions

Having seen how to get a mortgage loan from Standard Chartered Bank Ghana. It’s now left for you to decide which loan product best suits your needs. However, ensure you repay the loan they offer you so that your credit score will improve. So, you should know that failure to repay your loan would make credit bureaus in Ghana to blacklist you.

To default on a loan means repayments are not made for a certain time frame. MTN Qwik loan defaulters are individuals who cannot pay up their loan on the due date. Few realise the need for repaying loans from MTN. Some cannot recognize that the responsibility of a borrower is to make repayment on time. Failure to do so can cause additional charges, blacklisting and denial of future loans. It is important you know that, “To accept to borrow is to agree to repay”. 

Read on and explore all you need to know about MTN Qwik loan defaulters.

What is MTN Qwik loans

The MTN Qwik loan is a short-term cash advance disbursed and repaid from your MTN mobile money wallet. They do not require active subscribers to provide security to get the loan. No paperwork, no time wasted, just a tap and your money is deposited into your MOMO account.

Who are the MTN Qwik loan defaulters? 

MTN Qwik loan defaulters are individuals who cannot pay off their MTN Qwik loans on the due date. Some refuse to pay up deliberately, while some cannot pay due to lack of funds. Either way, it affects your credit score. Defaulters can not get future loans until proven worthy for months and a higher credit score attained.

What you need to know about MTN Qwik loan defaulters

MTN users in Ghana go for MTN Qwik loans. Because it is very easy to get. You can get this loan anytime, anywhere. You can cash out with any merchant bank around you.

However, many cannot repay this loan. The consequences of defaulting is not only the penalty of 12.5% charge in the amount borrowed. But also a negative impact on your credit score, thus disqualification from the services for three months. 

The impact of late repayment depends on how often you have paid late and how long you took to make repayments. After many days of non-repayment of MTN Qwik loans, they will deduct any money that enters your wallet till they pay the loan off.

Features of MTN Qwik loans 

The following are features of MTN Qwik loans in Ghana:

1. Simple to apply
2. No saving required for loan application 
3. Loan duration of one (1) month
4. Minimum loan of GHS 50 and maximum of GHC 1,000
5. One loan at a time

Requirements for MTN Qwik loans

Below are lists of criteria you need to meet inorder to be qualified for the loan:

1. Be 18years and above
2. Be active MTN Ghana subscriber for not less than three (3) months
3. Register on the MTN mobile money service and actively using the wallet 
4. Repay all outstanding loans
5. Low MTN mobile money wallet disqualifies you from applying. 

Interest rate

A single principal amount with a fee of 6.9% interest rate is repaid.

MTN Qwik loans duration 

The loan duration for the MTN Qwik loans is 30 days or one month. 

How to apply for MTN Qwik loans 

Applying for MTN Qwik loans is straightforward. Follow the procedure below:

1. Dial *170# on your mobile phone
2. Choose option 5 that is financial services 
3. Select option 3 which is “Loans”
4. Choose option 1, “Qwik Loans”
5. Select also option 1 to “Get Loans”
6. Input your mobile money pin for the next option 
7. Select the loan amount and press send
8. If you qualify, an SMS will be sent to you and your cash to your MOMO account. 

What happens to MTN Quick loan defaulters?

They automatically deducted the loan repayment from your MTN Mobile Money Account on the Due Date. They will automatically deduct the balance of any unpaid repayment amount from the funds in your MTN Mobile Money wallet until they pay the repayment balance. If on the due date you do not repay the repay amount in full, a 12.5% penalty will automatically be applied.

How to repay your MTN Qwik loans in Ghana

To repay your MTN Qwik loans, follow the steps below:

1. Deposit cash into your mobile money wallet before the due date. On the due date, they will automatically deduct the loan amount.

OR

2. Dial *170#, select 6, and follow the repay loan option prompt menu.

Conclusion 

MTN Qwik loans defaulters should know that they can get back on track by repaying their loans. By doing so, they can restore your credit score as well. The platform makes it so simple that you do not need to pass through rigorous procedures before getting your loans. Also have means of repayment before applying to avoid defaulting.

AirtelTigo and Glo users need to leverage on the availability of the offer to get data for browsing they can repay later. Data borrowing has become an important service in the telecom business. First to help and keep customers and to help the telecom companies make more money. However, AirtelTigo and Glo users are not in exception.

They introduced data borrowing for customers who run out of data and don’t have any means to continue surfing the web. This service helps them to borrow and pay later while finishing their online activity. This article explains the various steps AirtelTigo and Glo users will take to borrow data.

About AirtelTigo

Without doubt, the erstwhile Airtel and Tigo have formed a formidable partner (the moment they merged to become one) becoming the second biggest telecommunication network provider in the whole of Ghana.

There is no feature that AirtelTigo lacks you may seek for in a network provider before deciding to use them.

However, just like any other network provider, AirtelTigo also has very nice “borrow me airtime or data” plans for their active users in need. As a result, you may wish to borrow airtime and data from AirtelTigo Ghana by following the instructions outlined below.

Steps to Borrow Airtime from AirtelTigo

Step 1: *588# is the dial for Tigo users and *130# for Airtel users.

To begin, open your phone dialer app and dial *588# or *130# (for Tigo and Airtel customers, respectively), then send and wait for a pop-up menu to appear on your screen.

Step 2: Select the amount

After a few seconds of dialing the USSD code, your phone will display a pop-up menu asking you to select the amount you want to borrow.

Step 3: Confirm the amount

After that, you’ll see another option asking you to confirm the amount you selected in step 2 above. Please press 1 to confirm that you have selected the correct figure.

As a result, AirtelTigo will send you an SMS confirming the transaction you just completed.

Other Steps to borrow data on AirtelTigo Ghana

While AirtelTigo Ghana has two distinct network providers, it’s important to remember that there are two different codes for borrowing data bundles (depending on the Sim type), and the methods are:

Step 1: Dial *589# for Tigo SIM card and *554# for an Airtel user.

Simply dial one of the aforementioned codes, depending on which network operator produced your SIM card, and wait for a pop-up menu to appear on your phone screen.

Step 2: Choose your preferred bundle

After tapping send, a new pop-up window will open, allowing you to choose your preferred AirtelTigo Ghana data bundle.

Step 3: Confirm the transaction

You’ll get the last pop up after you’ve pushed submit, asking you to double-check the data bundle you selected before confirming it. When you’re happy with the data bundle you’ve chosen, hit 1 to confirm.

That’s all there is to it!

Note: You can check your airtime usage by dialing *130*10#

About Glo Ghana

Glo Ghana is one of Ghana’s fastest internet service providers, providing outstanding internet speeds and reasonable data bundles.

They also provide a service called “Borrow me credit,” which allows customers to borrow airtime when they run out in the middle of something.

Customers must have a registered sim card and have been a Glo user for at least three months to be eligible for this service.

Steps to borrow airtime or data from Glo Ghana

Glo Ghana is without a doubt one of the most reliable and fast internet service providers in Ghana, with low call rates, fast internet speeds, and generous data bundles.

Not only that, but Glo’s “borrow me credit” promotion allows Glo active members to gain airtime loans whenever and wherever they need it.

As exciting as this service is, you must use a registered Glo SIM card that has been operational for at least three months before you may borrow credit or data from Glo.

However, the following are detailed instructions on how to get credit or a data loan from Glo in Ghana:

1. Dial *5321#

To access the Glo menu, first open your mobile phone dialer and dial the above USSD code.

2. Choose option 1 ‘borrow me credit’

You’ll get a pop-up menu on your phone screen after dialing the code; all you have to do now is select option 1 with the message “borrow me credit.”

3. Select your desired amount

When you select option 1 (‘borrow me credit,’ they will take you to a new menu where you must enter the amount you wish to borrow.

4. Confirm your chosen amount

When you choose the amount of credit you want to borrow from Glo, a confirmation option will appear, asking you to confirm the amount.

Check the amount carefully, and if it’s correct, press confirm. You’ll receive a message shortly informing you that the transaction was successful.

Depending on how much airtime you recharge on your next top-up, you can repay this airtime loan in installments or in full.

Note: It also attracts a 15% commission.

Conclusion

AirtelTigo and Glo customers can borrow airtime from many network service providers based on a variety of parameters. So don’t be too hard on yourself if you have multiple SIM cards and can borrow on some but not on others.

Other related articles:

How to borrow data from Vodafone

How to borrow credit from MTN

MTN Xtratime in Ghana- How it works

The NSS Ghana is undoubtedly a welcome development. As it comes with some benefits that expose tertiary institution graduates to a firsthand taste of what the labour market is like. Nevertheless, you’ll see other benefits the scheme has in this article.

This scheme requires Ghanaian students who graduate from accredited tertiary institutions to do a one-year national service to the country. There is an agency of the Ghanaian government that is mandated to plan policies and structures for national service. The agency is the National Service Secretariat. As you read along, you’ll know more about NSS Ghana, their objectives, how to check and activate your pin, etc.

About NSS Ghana

They established the National Service Scheme (NSS) in 1973. This scheme is a program under the Ministry of Education with a National Secretariat in Accra. It also has offices in all administrative regions and districts across the country. They officially require this scheme to deploy a pool of skilled human resources. And this should come primarily from tertiary institutions to support development efforts of both the private and public sectors in Ghana.

It is a requirement for all citizens of Ghana eighteen years and above. Because of this, they limit and mandate it to Ghanaians graduating from tertiary educational institutions. 

What are the objectives of NSS Ghana?

There is always something the government aims to achieve by setting up a scheme.

The following are the objectives of the NSS scheme:

1. In the effort of nation-building through active participation, they aim to encourage the spirit of national service among all segments of Ghanaian society.

2. To combat hunger, illiteracy, disease and unemployment in Ghana through projects designed for that.

3. Help deliver essential services and amenities, especially in towns and villages of the rural areas of Ghana.

4. Development of skilled human resources through practical training.

5. It helps to foster national unity and strengthen the bonds of common citizenship among Ghanaians.

How can I check and activate NSS Pin Code before registration?

They have simplified the activation of your PIN Code prior to registration for your national service obligation. This process could take less than five minutes to complete. Please follow the instructions below:

1. Visit the link https://portal.nss.gov.gh/check-pin

2. Enter your Index Number / student ID number. Then put your date of birth in the space there and “SEARCH”

3. Then they will give you a bio data of your pin code, full name, Institution, Course of study and year of enrollment. After that, kindly copy the pin code.

4. Thereafter, use your pin code as reference to payment for its activation.

5. They prefer the use of MTN Mobile money and Agricultural Development Bank Ltd. (ADB).

How can I activate NSS PIN with MTN Mobile Money?

1. Just dial *170#
2. Select (option 2) for “PAY BILL”
3. Select (option 6) General Payments
4. Enter your payment code as ‘NSS PINCODE’. Type NSS, leave a space, then type your PINCODE. Thereafter, the menu will return to your name for confirmation.
5. Select deposit amount (GH¢41.00).
6. Enter “NSS” as reference
7. Enter PIN to confirm payment
8. They will send you a message to confirm the transaction. Then you can go ahead to your NSS Registration.

What are the various National Service Scheme deployments?

The National Service Scheme has various deployments for fresh graduates across the country.

The following are the deployments of the National Service Scheme:

1. Agriculture
2. Health
3. Education
4. Local Government
5. Rural Development (surveying, physical planning, civil engineering and rural industries).
6. Youth Programmes.

Is the National Service Scheme important?

Every tertiary institution graduate at some point would want to know if the National Service Scheme is important. The scheme is important primarily because it offers Ghanaian youths the chance to enter the labour market. And they will have the advantage of developing early contact while they work in either private or public sectors. Besides that, they can pick business ideas, reflect on career options, acquire practical on-the-job training. As they do this, they will contribute to socio-economic transformation development at the same time.

Is the NSS Ghana compulsory?

Having seen the importance of the National Service Scheme. You might also want to know if it’s compulsory to partake in the scheme. The answer is, ‘Yes’. The National Service Scheme is compulsory for all Ghanaian citizens. Most especially for youths 18 years and above at the time of deployment.

Who is eligible to partake in the NSS Ghana?

Just like every other scheme or program of the government. Before you can partake, you must be eligible for a particular program. This is because they designed every given program for a target group of the populace. Therefore, for the National Service Scheme, every Ghanaian youth eighteen years and above is eligible to partake. Especially young Ghanaians of that age, at the time of completing or getting their first tertiary education degree or diploma.

What are some benefits of the NSS Ghana?

There are some benefits that come with the National Service Scheme, some of them are:

1. Personality Development
2. Incentive
3. Preference in Admission / Employment
4. There is a national integration camp. Besides that, there is also, adventure programme, including state level and national level programmes.
5. Through the scheme, youths can gain leadership qualities and democratic attitude.
6. Students in colleges and universities can have diversified opportunities to develop their personality through community service.
7. It helps foster a sense of involvement in building the nation.

What are the contact details of NSS Ghana?

For further enquiries, you can contact NSS Ghana through the following contact details:

1. Phone numbers: 055-440-4422, 055-440-0078, 055-440-0069.
2. Email: info@nss.gov.gh
3. Address: 46 Patrice Lumumba Road, Airport Residential Area, Accra.

Conclusion

Each year, the NSS assigns over 70,000 tertiary graduates to 12-month employment postings (throughout the country). This scheme undoubtedly creates an avenue for youths to partake in civic responsibility in the state. Of all the benefits mentioned in this article, permanent job placements could also come out of this scheme. This is because the youths who connect with employers and are of great value to a company. Because of this, they could stand a better chance of landing a permanent job placement.

Other related articles:

How to get a loan from Agricultural Development bank Ghana

How to get a loan from First National Bank Ghana

USSD loan codes in Ghana – What you should know

There are investment loans for Real Estate you could consider. The real estate market in Ghana will continue to thrive for many years to come. This is because the population of residents is dwindling daily. There is a rise in demand for inexpensive housing.

As a result, it is one of the best investment plans available. However, given the state of the economy and the necessity to maintain a moral standard of life, financing may be difficult to come by.

However, if you have sufficient finances, you can still realize your aspirations by taking out an investment loan.

Must Read: Understanding liquidity ratios in Ghana.

What is an investment loan for Real Estate?

Investment loans for real estate are types of loans you take out when you want to buy a second house for investment, besides your primary residence.

The major goal of this loan is to buy a piece of real estate intending to earn a return on investment (ROI). To put it another way, you buy a real estate property, refurbish it, and then either sell or rent it out.

4 types of investment loans for Real Estate

There are four types of investment loans for real estate. They include:

1. Commercial loans

An individual and a commercial bank enter a debt-based cash agreement known as a commercial loan. Lenders can use these loans to buy, refinance, or cash out their properties. Investors use this loan to buy a variety of real estate holdings for millions of cedis.

2. Fix and Flip Loans

A fix and flip loan is known as a hard money loan. This means that they use the real estate as collateral to secure the loan.

This is a short-term loan that allows lenders to borrow money in order to perform renovations on their property so that it may be rented again.

3. Home Equity Loans

A home equity loan is a consumer loan that allows a homeowner to borrow against the value of their home. This form of loan financing is a great approach for real estate investors to buy a new home. This loan type is beneficial because it allows you to borrow up to 80% of your home’s equity worth.

4. Private Money Loans

Owner financing is another term for it. This form of loan does not come from a bank or come from your home equity. Instead, they are distributed by well-to-do members of society with spare funds. They want to get a strong return on their loan investment.

Read also: Guarantor loans – Meaning and what you should know about them

Minimum requirements for investment real estate loans

Although the criteria for approving an investment real estate loan differ from one lender to the next. Some basic financing conditions are:

1. You must have a credit score that is higher than average.
2. You must have a good credit rating.
3. A consistent source of revenue.
4. You must save between 5% and 10% of your income.
5. Employment history

4 benefits of investing in real estate

There are benefits that come with investing in real estate. They are:

1. Competitive Returns

Compared to other types of investments, such as bonds and equities, the real estate market offers enticing returns.

2. Portfolio diversification

One of the most interesting reasons to invest in real estate is its diversification potential. Including your real estate in several portfolios helps to mitigate the risk of a larger return per unit.

3. Inflation Hedge

Investing in real estate provides an inflation hedge. This is because if inflation rises, so will the rental of real estate property.

4. Tax benefits

One advantage of investing in real estate is that they exclude you from paying taxes as an investor. This is because the primary source of income is not subject to self-employment tax.

Conclusion

Investment loans are the most effective solution to overcome the problem of limited cash. It’s a firm foundation upon which you may build an endless stream of revenue through real estate investment. Purchase this instrument and you will never be sorry.

Sometimes canceling a bond is an inevitable part of homeownership, but you’re not alone if you do not know what that process entails. Read through this article to know the steps on how to cancel a home loan without penalties.

How do I cancel my bank home loan?

Ensure you cancel your bank house loan in a timely manner. You must cancel your loan application by writing to the bank where you applied. Here’s a detailed breakdown of the steps involved in the procedure.

Step 1: Submit a notice of cancellation

You must give at least 90 days written notice of your desire to cancel your bond unless it has reached the end of its term (usually 20 or 30 years). There may be certain penalties if you close your bond before the notification period is through.

They usually waive these fees if the property is part of a deceased estate or has been sequestrated. Or if you’re taking out a new home loan with the same lender.

To avoid early termination costs, it’s usually a good idea to notify your lender as soon as you put your house on the market.

You can go even farther by including a clause in your sales contract that bans registration. And thus bond cancellation, until your 90-day notice period has expired. You won’t be startled with a fee if you sell quickly and the transfer takes longer than expected.

Institutions have different expiration dates. Some are valid for only 90 days and then expire, while others are valid for up to six months.

• Good to know: Bonds that are canceled within a year or two of purchase may be subject to an additional 1% penalty on the outstanding bond value. If you really must sell now, work out a deal with your lender through your bond originator.

Step 2: Request cancellation figures

When you send notice of your intention to cancel a bond, the process does not begin. This happens when your conveyancer (or cancellation attorney) is instructed to get your cancellation figures. If you’re closing your loan account on your own, you can do so whenever you choose or when your property sells if it’s for sale.

Step 3: Settle any outstanding amounts

Your lender will offer your conveyancer with cancellation (or settlement) statistics. These numbers show how much money you’ll need to pay off the rest of your debt. If you’re canceling your bond without selling your home, you’ll have to pay this out of pocket. If you’re selling, they will remove this from your sale proceeds automatically throughout the transfer process.

Keep in mind that from the time the settlement numbers are offered until they make the payment and the bond is finally ended, lenders charge interest on your outstanding balance.

Note: If your Home Owners’ Comprehensive (HOC) insurance is deducted from your home loan account, you must shift the debit order to a new account before they cancel your bond. If you don’t, your insurance coverage may lapse, leaving you in a difficult situation if something goes wrong.

Step 4: Pay cancellation fees

Lenders rarely charge bond cancellation fees, except for (unavoidable) penalties for early termination. You will be accountable for paying the cancellation attorney for their services. Even if they paid your bail fully. They may include these costs in the settlement amount granted by your lender if they employed a cancellation attorney on your behalf.

It’s important to keep in mind that this payment isn’t included in the buyer’s transfer fees. Bond cancellation fees are solely for the seller’s or bondholder’s benefit.

Read also: How To Get A Home Loan Or Mortgage In Ghana

Can I cancel an approved home loan?

Is it possible to cancel a mortgage loan that has already been approved? Before they actually disburse the money, the applicant has the option to reject the loan offer.

What happens when you cancel a mortgage?

Credit checks and appraisal fees, for example, are frequently refundable. For example, application processing and rate lock-in fees are usually non-refundable. They may charge you a fee if you cancel a mortgage application.

How much are bond cancellation fees?

If you want to cancel a new loan within the first two years of the agreement. Therefore, you’ll have to pay penalty interest of around 1% of the existing total. Then they will charge and deduct the penalty from the sale proceeds after they sell the house.

Will canceling a home loan hurt my credit?

No, ending a loan has no negative impact on your credit rating. The explanation for this is simple: your lender wouldn’t have to report anything to the credit bureaus if you cancel a loan application.

Can I cancel a home loan after signing?

Yes. For certain types of mortgages, you may change your mind after signing the mortgage closing paperwork. You may end most non-purchase money mortgages, often known as the right to rescission. The examples of non-purchase money mortgages are refinances and home equity loans.

How do I know if I can qualify for a home loan?

Obviously, a bank will consider issuing you a home loan if you have a sound track record with credit management. To be eligible, you show you pay your bills on time and in full.

You must be 18 years old, employed for six months, or self-employed for two years to be eligible.

Here are our top six pointers for navigating the application’s documentation requirements:

1. As proof of income, you must produce your most recent pay stub. Some institutions may request your previous three salary statements, especially if they paid you on commission or work overtime. If you live in a community of property, your spouse handles the same.
2. If relevant, you should have the last three months’ bank statements for both your own and partner’s accounts.
3. They’ll require a copy of your Ghanaian ID document (and, if relevant, your partner’s)
4. The bank will require your monthly income statement and spending, including monthly loan repayments and living expenses.
5. The bank will request personal assets and liabilities.
6. A copy of the purchase agreement will also be required.

Conclusion

Canceling a home loan is an important step in most property purchases. This can intimidate the first time you do it. Don’t be hesitant to seek advice from your bond originator. He can help you speed the process and save costs and penalties while locating new financing possibilities for your next real estate investment, according to the home finance expert.