You can access Momo loan in Ghana from notable lenders. Loans are getting easier and easier to get. You don’t need to travel to a bank and endure hours of arduous processes.
Nowadays, you may apply for a loan from the comfort of your home. Thanks to the development of Mobile Money platforms and many FinTech companies.
Regardless of your network, alternative options exist to get loans directly from your mobile money account. This article discusses five Momo loan providers in Ghana that can help you access quick loans through your mobile money account.
Momo Loan Providers in Ghana
There are various Momo Loan providers in Ghana. They include:
Although it sounds cliche, MTN Qwik loan services are among the first places you go when you need a quick loan. This trusted MTN and its partners offer a widely used solution for collateral-free loans.
One benefit of this lending service is its speedy disbursement of funds to users’ mobile money wallets following loan requests. Simply request, and your loan should be completed in less than three minutes without IDs.
Unfortunately, start with a very little credit amount starting at GH₵50-100, before you can go up to a larger amount with the MTN Qwik loan service. Additionally, you must have used Momo for the previous six months.
Active and devoted Vodafone customers who urgently want cash can apply for a Vodafone Cash loan, a short-term micro loan. After requesting it, they will immediately deposit your Vodafone cash loan into your mobile wallet.
3. FIDO Loans
One of Ghana’s top no-collateral online lending services is undoubtedly Fido Loan. Also, over 340,000 people have benefited from their $150 million financial assistance.
Their borrowing facility is simple to use and offers something for everyone. Fido’s loan approval procedure takes a short while, after which they transfer your funds to your mobile wallet. You only need a valid national ID card and a selfie to prove that you are the one applying for the credit facility. No other documentation is required.
After registering, the maximum number of credits you can earn as a newbie is from GH₵200-300. Meanwhile, for those seeking sizeable sums, it’s better to take out smaller loans at first to establish your credit history. Because of this, you will automatically qualify for larger loans.
4. Zidisha Loan
Peer-to-peer lending platform Zidisha provides quick loans to young people without collateral to build their businesses. It offers a low-interest rate, making it easy for borrowers to repay.
Zidisha loans have an intriguing feature: there is no requirement for collateral to be eligible for the lending facility. Because of this, you can borrow as much as GH₵70,000 or as little as GH₵39.
However, you would pay a membership fee of GH₵80. Or receive a referral from a member of the Zidisha fundraising community to be eligible for one of the organization’s online loans.
5. Carbon Loans
Another online financial lending option you can use when you need quick cash in an emergency is the carbon loan. In times of need, low-interest carbon pay later loans are available for up to GH₵5,000.
Although carbon pay later loans don’t demand collateral, you still need to provide a current national ID, a passport, or a bank statement to prove that you are who you say you are.
Getting a Momo loan in Ghana is simple, especially with the introduction of mobile money services. Consequently, most companies do not require collateral before offering loans to their clients. This quick access to loans has become essential since everyone can request quick loans from their wallets. Therefore, depending on your credit risk, you can now easily get a loan from any Momo loan provider in Ghana.