In Ghana, getting a loan can be very challenging, especially if you don’t know which lender is the Best. The best loan companies provide their customers with affordable credit options.
The majority of these lenders give loans to consumers on the basis of collateral, thus the borrower must furnish a real, usable item to pledge as security for loan repayment. I conducted a thorough offline and online search for businesses in Ghana that offered unsecured loans to clients. Unless absolutely required, I would never advise secured loans (loans that demand collateral).
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Here is a list of Ghanaian lending companies that offer collateral-free loans.
Zidisha: Online Loans In Ghana Without Collateral
A top-notch online platform for collateral-free loans is called Zidisha. In essence, it serves as a platform to link lenders and borrowers. There is no middleman when using this platform. Direct communication between you and your lender lowers the interest rate on loans.
Loans are available from Zidisha to both employed and jobless persons. You can borrow money if you fall under the employed category to grow or launch your firm. If you’re a student (and hence unemployed), you may also apply for this loan with just your phone and no collateral.
If your initial application is approved, you receive a small sum of money, which grows as you make on-time repayments and establish your trustworthiness on the site. Visit Zidisha.com for additional details on how to register and apply for this loan.
Mobile Money Loans: Online Loans In Ghana Without Collateral
One of the most common types of no-collateral loans in Ghana is the mobile money loan. There is no minimum age limit to apply for this type of loan. All you need to do is sign up for one of Ghana’s mobile money services.
MTN Ghana will come first. The quick loan feature was first provided by MTN Ghana in partnership with letshego, and any MTN mobile money customer is eligible to apply without providing any security.
MTN Ahomka Loan Without Collateral
Another unsecured loan, this one similarly disburses funds immediately to your mobile money account without the need for collateral or savings. You must continue using your Momo account for transactions and return prior loans on time in order to qualify for larger loans without collateral.
MTN Express Loan: In Ghana Without Collateral
Similar to a rapid loan, an MTN Express loan allows you to apply without any security. Visit MTN Online to submit an application for this loan.
MTN Qwikloan: First Online Loan Without Collateral in Ghana
Qwikloan is the most popular unsecured, collateral-free, personal loan in Ghana. It was the first of its kind to be introduced into the mobile money lending space. To apply, dial *170#, choose financial service, select loans, select MTN Quick loan and follow the proceeding steps to continue.
Vodafone Cash Loan
If you are a Vodafone Ghana subscriber you can apply for any available unsecured Vodafone cash loans without collateral.
BloomKash: Online Loans In Ghana Without Collateral
You can effectively get credit anytime, anyplace, and without collateral thanks to BloomKash.
- Why BloomKash？
- You can apply for a loan with your credit. Don’t need any deposits or guarantees.
- Up to GHC3,000. Disburse to your bank account in a while.
- A paperless and digital process on your mobile. All the steps can be done online.
- We do not share your data with any third parties without your consent. Your data is totally safe with us.
- Don’t worry about forgetting repayment. We’ll send messages to remind you.
How does it work？
- Install the BloomKash APP from the Play Store.
- Register an account.
- Select the product you would like to apply for.
- Fill out your basic information, then submit the application.
- After the submission, you may receive a call for verification. The final application result will be shown in the APP and you will be informed by SMS if approved.
- E-sign the loan agreement after the approval.
- After the E-sign, the approved loan amount will be disbursed into your account shortly and an SMS notification will be sent.
Key points to remember. Internet loans without security may seem alluring. It is essential to take out a loan to launch or grow a business that you are knowledgeable enough about.
Defaulting on any of the aforementioned online loans could result in criminal prosecution!
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