Individuals, startups, intending homeowners, small businesses, students and other types of businesses always need finance for their development. Meanwhile, finance is so important for various life needs. Also, this is part of the reasons for Sikamaster loan to Ghana. In situations whereby you are financially helpless. Hence, you can lean on Sikamaster loan Ghana.
In Ghana, banks most times reject loan applications from individuals with bad credit. Therefore, Sikamaster lending becomes an alternative to individuals like this. However, the meaning of Sikamaster lending, reasons to consider it, and how to apply are all-inclusive in this article.
About Sikamaster loan Ghana
The Sikamaster loan company is a direct lender, not a broker. It is different from SikaPurse loan Ghana. They do not deal with middlemen. However, they can lend you the money you need if you can afford it and if you are eligible. Sikamaster has independence in lending, but is accountable to its funding partners and/or parent company for results.
They use a non-deposit business model and/or no upfront fees, so they don’t need to raise funds. Neither do they need to prove their worth to the investor community and/or prospective investors.
What are the loans Sikamaster loan offer?
Sikamaster loans Ghana offers several loans for the interest of their customers. Some of these products include:
- Salary advance
- Personal loans
- Loyal repeat customer loan.
- Commercial mortgage loan
- Residential mortgage loans.
- Student loans.
- Student international loan.
What is the interest rate on Sikamaster loan Ghana?
The minimum annual interest rate for all Sikamaster loans is 15.00 %.
What are the requirements for Sikamaster loan?
There are certain criteria you must meet before you qualify for a Sikamaster loan in Ghana. Therefore, to be eligible to apply, you must:
1. Have a Ghanaian bank account.
2. You should have employment.
3. The individual must live in Ghana.
4. A minimum age requirement is 21.
Note: When applying you’ll also need to provide the following information:
1. Employment details.
2. Bank account details.
3. A breakdown of income and outgoings.
4. Additional information about you.
How can I apply for Sikamaster loan Ghana?
Online applications are accessible 24/7 from your computer, mobile phone, or tablet, and typically take just a few minutes to complete. Instant access to services is available wherever and whenever you want. If they approve your application, they will send you a text and email.
What shows that my application is successful?
If you are an existing customer or client, you may check the status of your application online via our client area. You know whether your application is successful by:
1. Signing into your account by going to the home page.
2. You can find information about the status of your current loan application at the top of your account home page.
Sikamaster Mobile App
Clients and customers can easily use the Sikamaster mobile app for submitting and reviewing loan applications. Alternatively, if you do not own a smartphone, you can use the USSD Channel.
Mobile App Features
Sikamaster mobile app helps you to do the following easily from the comfort of your home.
- Applicants can apply for salary loans, personal loans, and business loans.
- Using this app will be beneficial for both start-ups and existing businesses. With this software, users can maintain their finances, assets, and bills.
- They contain a cost calculator that can assist business people in determining how much money they will need for their business, aside from other running costs of their business.
- It also offers the latest features from Sikamaster Loans’ Twitter feeds, as well as a finder feature for locating Sikamaster and a score checker.
- Also, it can answer commonly asked questions in a matter of seconds.
- This app will inform users about loan disbursements, monthly payments, and interest rates.
Does Sikamaster run a credit check during the application process?
Sikamaster runs credit applications for credit reference agencies to check your information. Also, they determine if they will approve or decline your application. However, credit checks also help them determine the amount of your loan offer, if approved.
What should I do if I need extra time for my repayment?
You must contact the company immediately if you cannot repay the amount due on your next repayment date. However, a repayment plan that will involve a fixed payment or an extension may be the best option for your situation. The options details include:
In certain cases, they may delay the repayment date by up to three calendar days if you are certain of meeting your repayment obligation within a few days of your due date. Meanwhile, you can only make one change per loan.
If you need more than a few extra days to repay your loan, you can apply for an extension. In the account section, you can see if you’re eligible to apply for an extension. Also, you must pay for the interest accumulated on the original loan upon approval of your extension application. They will then require you to repay your loan principal at a later time. However, as part of this repayment, you will repay the principal plus interest that has accrued. Because of the additional interest you will pay on your outstanding principal, they only granted extensions. Notwithstanding, they can extend each loan up to two times.
In those cases where you are experiencing financial hardship, we may offer you a fixed repayment plan.
What are the partners of Sikamaster lending Ghana?
They have various partners’ examples:
- Capital partners
- Payment partners
- Property partners
- Healthcare partners
- Vendor partners
- Business study partners
Benefits of Sikamaster loan
Sikamaster loan just like most lending institutions, has several advantages. Some of these benefits include:
- No upfront fees
- Repayment help
- Direct lender
- Non-deposit taking
Sikamaster loan Ghana is the lifeline for many individuals in Ghana. There is no upfront fee attached to the loan. As much as your credit score determines whether you could get any kind of loan. Therefore, it is always advisable to keep a good credit score to always have better chances of qualifying for a Sikamaster loan. Having read through the requirements and how to apply. You can always consider it, if it is the right option for your financial needs.