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Bloomkash: Apply for a loan online without Collateral

Bloomkash: Apply for a loan online without Collateral – Good news! As long as you have a passport, Voter’s Card, Snnit or Driver’s License, You can get a loan. In the current times, loans have become a necessary aspect of our lives. However, traditional loans are often associated with collateral and long waiting periods. To combat this, online loan providers have emerged, offering easy and quick loans to those in need. One such online lender is Bloomkash, which provides loans without collateral. In this blog, we will discuss the requirements, eligibility, payment, and step-by-step process of applying for a loan through Bloomkash.

Bloomkash: Apply for a loan online without Collateral

Your smartphone is extremely intelligent because you use it for something other than calls and messages; you also use it for online businesses and loan applications. You don’t have to worry about going to the bank only to be told that 1. you don’t have an account with us. 2. You do not have good enough credit to apply. 3. In order to apply, you must bring collateral.

Save yourself from all these hustles. JUST follow the process to request a loan from Bloomkash. It’s quick and easy.

There are other loan companies in Ghana that you can contact if you need a loan without collateral. This includes MTN’s Qwikloans, Vodafone Ready Loan, Zidisha loans, Express loans, Carbon and Fido loans

This article focuses on Bloomkash, which requires only your phone and no collateral or physical meeting or transaction.

Bloomkash is a Ghanaian lending company that provides Citizens with short-term loans via their mobile phones. So, if you have a smartphone and download the Bloomkash app, you can get a loan of up to 1,000 GHS from Bloomkash.

To request a loan facility from Bloomkash, the user needs to own a working smartphone, preferably an android phone. Once you have an android phone, you can proceed with the following steps:

Steps to follow to get up to 1000ghc;

  • Download the Bloomkash app from the Google Play Store or click here.
  • Download and install the app on your phone, making sure it’s completely functional.
  • Open the application and select “Apply for Loan” from the drop-down menu.
  • In the field provided, type your Mobile Money number.
  • For confirmation, a one-time prompt (1TP) will be given to your mobile number.
  • Bloomkash will send you a message asking for permission to access your images, location, contacts, camera, and other personal information.
  • On the next screen, click on ‘Apply for loan’.
  • Fill in your first name, surname, additional names (middle name), gender, ID information, residence address, employment status, monthly income, the date you get your salary, and whether or not you have an outstanding loan, then click next.
  • Fill in your emergency contact detail. This should be someone who is very close to you and can guarantee your loan since the company is very likely to call that person. Also, note that the application will take you to your contact list automatically so you can select the emergency contact from your list.
  • Fill in the contact details of your second emergency contact following the same way you did in step 9 above.
  • If your details are accurate enough, you’ll progress to the next stage where you’ll see the loan amount you qualify for, the repayment amount and other details. If you are content with what you see, click on ‘Apply now.
  • Done!
Bloomkash: Apply for a loan online without Collateral
Bloomkash: Apply for a loan online without Collateral


Bloomkash offers flexible repayment options for its loans. Borrowers can choose to repay their loans in weekly or monthly instalments. The loan amount and repayment period determine the interest rate charged by Bloomkash. The interest rate for a Bloomkash loan ranges from 4.5% to 34%.

Step-by-Step Process

The process of applying for a loan through Bloomkash is simple and straightforward. Here is a step-by-step guide:

Step 1: Visit the Bloomkash website ( and click on the “Apply Now” button.

Step 2: Enter your personal details such as your name, phone number, email address, and means of identification.

Step 3: Provide your employment details such as your employer’s name, address, and monthly income.

Step 4: Choose the loan amount and repayment period that suits you.

Step 5: Review the terms and conditions and accept them.

Step 6: Submit your application.

Step 7: Wait for Bloomkash to process your application. You will receive a notification via SMS or email once your loan is approved.

Step 8: Receive your loan in your bank account.

Bloomkash Loan Terms, Conditions And Interest Rates

For most people, the loan system operated by Bloomkash may sound too good to be true. However, it is exactly what it is. However, just like any other financial institution, there are some terms and conditions that need to be looked at.

For Bloomkash, the interest rate is charged daily and it varies from 0.1% daily to 1% daily.

There is a processing fee of 36.5% on every loan accessed via the platform. So if you apply for a loan of GHS 65 for a 91 days term, the processing fee would be equal to GHS 23.7. The interest over the period, however, would be equal to GHS 1.8. So your total repayment amount would be GHS 90.5.

Loan terms on the other hand range between 15 days to 90 days depending on how soon you paid your previous loans.

Finally, loans from Bloomkash are mostly based on the success of previous loans. So, for higher amounts, you should first take smaller amounts and repay them on time so you can qualify for the bigger loans later.

Loans are a reliable source of support in times of emergency. However, for most people, acquiring a loan comes at a very huge cost of either processing fee or collateral or several up and down movements.

This makes it difficult for those who may need such loans to deal with urgent situations.

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