6 Best Online Loans in Ghana Without Collateral - 2024


                                Best online loans in Ghana without collateral

Looking for the best online loans in Ghana without collateral? How can I apply for online loan in Ghana without collateral? This is one of the most frequent questions in Ghana almost everybody has been asked.

 Getting a loan in Ghana without collateral is the cause of most people inability to access loan in the country. Over the years, many people have had their loan applications rejected due to their inability to provide collateral.

Due to this problem some companies have developed apps and websites where you can apply for loan online in Ghana at the comfort of your home without collateral.

Here, I am going to take you through how to apply for online loans in Ghana without collateral. However, one thing you must know is that most of these apps may not give you your desired amount unlike the banks.

Online loans in Ghana without collateral

Here is a list of online loans in Ghana without collateral

1.Fido Loan

Fido loan is number one in our list because it is the most common online loan app in the country. Fido loan does not require any collateral to apply. To get a larger loan, you must first of all take a smaller one and pay on time to get a larger one.

An ID card, household information, and employment information are the only documents necessary for a loan with Fido, and they are used in the registration process.

Requirements for obtaining Fido Loan

1. Go to google play store to download and install the app

2. Register with your valid ID card, address and business information

3. Apply by filling the loan application in the app.

4. After application, your funds will be deposited to your mobile money or bank account if your loan request is approved

5. Repay on time to get a higher loan amount for your next loan

2. MTN QwikLoan

Mtn Qwikloan provides the opportunity for its customers to access loan. The loan process is simple, and almost every MTN user can be able to access it.

Guidelines on how to access MTN QwikLoan

1. Dial *170# on your phone

2. Select option 5 (Financial services)

3. Choose option 3 (loans)

4. Select Qwikloan

5. Select option 1 and enter the amount you are requesting for

6. Choose your repayment plan and enter your password for approval.

When you are approved, pay on time to avoid late payment fees. The earlier you pay your loan the more they give you next time.

3. PayLater Loans

Paylater loans is one of the best lending apps to get quick cash from. Anybody is eligible to take loan from the company.

You can borrow up to Ghs1,000 without any collateral issues. All you need is a smart phone with a good internet connection

How to apply for a PayLater loan

1. Go to google paly store to download and install the app

2. Register with your personal details

3. Choose your desired loan amount and duration

4. Submit your application

5. If approved, you will be credit via mobile money or bank account within five minutes

If you do not pay on time you may not be able to request for loan from them in the near future.

4. Zidisha Loan

Zidisha is an online loan platform that allows people to lend money to entrepreneurs in Africa. Zidish is said to be a legit platform where you can get loan to start your business. Members can get as high as 1900 for the first time of application depending on the quality of your application and supporting documents.

Requirements for securing Zidisha Loan

1. Have a smart phone with good internet connection

2. Have something doing so you will be able to repay your loan

3.Be able to secure recommendation from people in your community

Click on this link to apply for Zidish loan Apply

5. VodaCash Loan

Just like MTN Qwikloan, Vodafone has recently introduced loan on its platform which customers can now be able to access. The procedures for accessing the loan is almost like MTN Qwikloan. 

To qualify for voda loan, you have to register for vodacash and use the service for a couple of months.
Initial minimum loan is Ghs10.

6. OZE SME Loan

OZE SME is a business organization that partners with financial institutions to provide loans to small business owners who constantly use the OZE SME Loan app.

You can get as high as 10,000 with a very low interest rate of %3 monthly for Ghanaian customers. The loan can be paid over a period of 12 months in installment. To be considered for the loan, an applicant has to be an active user of the business app for a period of 30 days. After 30 days, you must contact an OZE Coach, who will email you an Application form and check your Mobile Money statement, allowing you to begin the process right away.

Click here to begin the OZE SME Loan application process.

Requirements to apply for online loans in Ghana

Every loan app has its own requirement an individual must meet before he/she can be given a loan. To apply for some of the online loans in Ghana, the following requirements must be met:

1. Mobile Money or Bank Account number

2. A valid national ID card (Voters, passport or ECOWAS card)

3. Must live and work in Ghana

4. Some loan companies may request for your payslip or bank account statement before you are given the loan 


The above are some of the best online loans in Ghana as at the time of writing this article. If there is any online loan platform in Ghana you would like to update us with, you can leave it in the comments section.

It is also important to know that not all loan apps require documents evidence before granting you a loan

Other related topics

Post a Comment


Post a Comment (0)