List Of Loans In Ghana

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List Of Loans In Ghana

Looking for loans in Ghana? You are on the right website. In this article, we have listed all the categories of loans in Ghana and how to apply.

Categories of Loans In Ghana

1. Individual Loans

2. Mobile Money Loans

3. Car Loans

4. Private Student Loans

5. NGO Loans

A. Individuals loans in Ghana

Below is a list of some financial institutions that give loans to individuals in Ghana

1. Izwe Savings and Loans 

Izwe is a financial institution that gives personal and business loans to government employees. 

Click here to apply Izwe loans application form

2. Bobby Charlton Loan Company

Address

No.1, Airport Residential Area, Opposite Shangri La Hotel, Kofi Annan St. Accra.

Contact - 0242174448

3. Golden Link Savings and Loans

It is one of the most popular loan institutions in Ghana. The company gives loans to individuals, salary workers, farmers, traders and many others.

Contacts  

No. 2 North Street, Tesano

Phone number

+233(0)302223826 or +233(0)302223951

4. Bosea Micro Credit Enterprise

Bosea micro credit enterprise is another financial institution to get loan from

Address

Rawlings Circle - Opposite the Madina Polyclinic

Contacts+233(0)0302555014

5. Qwik Loan Ghana

Contact - 0265092006

6. Best Point Savings and Loans

Contacts

Old Peace FM Building, Achimota

info@bestpointgh.com

+233(0)303932990

7. Speedline Money Lending Services

Contacts

GQWQ+6W6, Derby Ave, Accra

+233(0)302-631-962 or 0570117799

Email: info@speedlinemicrocredit.com

8. ASA Savings and Loans

Contact - +233(0)302328405

9. Fido loan

Fido is one of the best platforms to borrow loan in Ghana. Fido provides fast, and easy short-term loans to its customers. The application process is easy and less stressful. You can receive up to GHS200 for your first loan.

How to Apply for Fido loan

  • Download the app on Google Play Store and fill your details. Click here to install
  • Enter the loan amount you need and confirm.
  • If approved, you will receive the money instantly into your mobile money account
  • The minimum and maximum repayment periods are 91 and 180 days respectively.

Fido loan application requirements

  • A valid ID (ECOWAS card, Voters card, Passport and Driver's license)
  • Mobile Money account registered in your name
  • Be a resident of Ghana, and over 18 years of age
  • 3. GhanaLending Loan

10. GhanaLending

GhanaLending loan app is one of the most common loan apps in Ghana. It has over 1000k downloads on Google Play Store with a positive review.

How to get loan on GhanaLending app

  • Go to Google Play Store to download and install the app
  • Register with your details (phone number, national id cards and residential address)
  • Choose loan amount and apply
  • When approved, the money will be disbursed to your mobile money account.

Loan terms is between 91 to 365 days. Loan ranges from GHS50 to GHS3,000

11. MetaLending app

Get your instant loans on MetaLending app. It is an instant app in Ghana which provides affordable loans to individuals and business owners in the country.

How to apply for MetaLending loan

  • Download the app on Google Play Store
  • Create your account by filling out the form
  • Choose your loan amount and apply
  • Receive your loan straight to your bank account

Try to repay on time to increase your loan limit

Eligibility

  • Applicant must be a resident of Ghana
  • Applicant must be 18+ years old
  • Applicant must also indicate his/her source of income

12. SikaPurse loan

SikaPurse is an instant money lending app in Ghana launched in July, 2021. The app offers flexible loan products to its customers. You can get up to GH¢5,000 loan on SikaPurse. 

How to get a loan on SikaPurse

  • Download and install SikaPurse app 
  • Create your account
  • Fill out basic information and submit
  • Choose your loan amount and apply
  • When approved, you will receive your loan straight into your bank account
  • Repay your loan in time to avoid penalty

13. 4Cedi loan app

 It is a loan app in Ghana that provides instant loans to individuals and small business owners.On 4Cedi loan, you can get a loan without collateral.

Eligibility

  • Applicant must be a resident of Ghana
  • He/She must be between 22 - 55 years of age
  • Must have a national identification card (Voters, ECOWAS or Passport)

How to use the service

  • Download the app on Google Play Store
  • Register by filling out your personal information
  • Ensure all your details are correct and accurate
  • Enter your loan amount and submit
  • Once the loan is approved, the money will be paid directly into your account.

14. Mpaso loan app

Mpaso loan app makes it easy for you to access loans anywhere and anytime with your smart phone. The loan is available in Ghana, Nigeria, Kenya and Tanzania. Loan amount ranges from GH¢400 - GH¢45,000.

How to get started

  • Go to Google Play Store to download and install the app
  • Create your Mpaso loan account
  • Choose your loan amount and apply
  • Once approved, your money will be paid to your account

Advantages of Mpaso Loan

  • No paperwork, collateral or office visits needed
  • No late or hidden charges
  • You can get access to bigger loans with lower interest
  • It is secure, reliable and flexible

15. Loan Supermarket app

Loan Supermarket is a a secure, reliable and quick loan app for government employees. The loan amount ranges from GH¢1,000 - GH¢5,000. Repayment period is between 6 to 72 months

Eligibility

  • Applicant must be a resident of Ghana with a valid ECOWAS card (Loan Supermarket accepst only ECOWAS card)
  • Must be a government employee
  • She/He must be 18 years old and above

How to apply for Loan Supermarket

  • Download the app on Google Play Store
  • Create your account and login
  • Apply by selecting your preferred financial institution on loan Supermarket
  • Once your application is approved, your money will be paid to your bank or mobile money account

Why should you choose Super Market loan app?

  • No hidden fees
  • No paperwork, loan agents and and impersonations of GoG employees
  • You don't need to submit a manual loan form any longer

16. LoanClub

LoanClub offers instant money lending in Ghana. The application process is easy, quick and flexible.

Eligibility

  • Must be a resident of Ghana
  • Applicant must be above 21 years of age
  • Must have monthly source of income
  • He/She must also possess Identification card

How to Apply for LoanClub

  • Go to Google Play Store to download the app
  • Register and fill your personal information 
  • Upload your documents ( National ID, Address proof)
  • Choose your loan amount and submit
  • Wait for a couple of minutes for your feedback

17. Advans Ghana Savings

Another institution to apply for loan in Ghana is Advans Ghana. The company has branches in Greater Accra, Ashanti, Volta and Eastern region of Ghana.

Advans Ghana offers personal and business loans to individuals in Ghana.

Website - Advansghana.com

18. Direct Savings and Loans Corporate Office

Another institution to get loan in Ghana is Direct Savings and Loans. The company provides banking services to micro, small and medium enterprises (MSMEs), traders and market women, salaried workers and self-employed.

Contacts

+233(0)303969550 or info@directgh.com

B. Instant Mobile Money Loans in Ghana

Below is a list of instant mobile money loans in Ghana

MTN Mobile Money Loans (Quick Loans)

MTN mobile money loan is number one on our list because it is the most popular Instant mobile money loan platform.

MTN has made it possible for its customers to apply for qwikloan using their mobile money wallet. The MTN quick loan service was initially introduced by AFB bank in collaboration with MTN Ghana.

How to apply for MTN Qwikloan

  • Dial *170# on your mobile phone
  • Select option 5 (financial services)
  • Next, choose option 3 (loans)
  • On the next pop-up, select option 1 (Qwikloan)
  • Select option 1 (get a loan)
  • Enter your Mobile Money pin to continue
  • Enter your loan amount and click send
  • Wait for about 5 minutes for your funds
  • Make sure you repay your loan on time to avoid late payment penalty fees.

Note : Before you will be granted a loan, make sure you been doing frequent transactions on the SIM

Ahomka loan

Ahomka loan application is similar to MTN Qwikloan

How to borrow money from Ahomka

  • Dial *170# on your mobile phone
  • Choose option 5 (financial services)
  • Choose option 3 (loans)
  • Select option 3 (Ahomka loans)
  • Choose option 1 (Get a loan)
  • Enter your mobile money pin to continue
  • Once your loan is approved, your money will be credited to your mobile money account

Fido loan

Fido is one of the best platforms to get instant mobile money loan from in Ghana. Fido provides fast and easy short-term mobile money loans to its customers.

With Fido lending app, you can receive up to Ghs200 for your first loan

How to apply for Fido loan

  • Download the app on Google Play Store and fill your details
  • Enter the loan amount you need and confirm
  • If approved, you will receive your money instantly into your mobile money account
  • The minimum and maximum repayment periods are 91 and 180 days respectively.

Fido loan application requirements

  • A valid ID (ECOWAS card, Voter's card, National Health Insurance Card, or Driver's license)
  • Mobile money account registered in your name
  • Be a resident of Ghana, and over 18 years of age 

GhanaLending app

Another instant mobile money loan app is GhanaLending app. It is one of the common loan apps in Ghana to get instant money from. 

The app has over 1000k downloads on Google Play Store, and a 4.4 rating on TrustPilot.

How to get loan on GhanaLending app

  • Go to Google Play Store to download and install the app. Click GhanaLending to install the app
  • Register with your details (phone number, residential address or valid email address)
  • Choose loan amount and apply
  • When approved, the money will be disbursed to your mobile money account

Paylater loans

Paylater loan is an easy-to-use and entirely online lending platform that provides short-term loans to individuals and small businesses in Ghana.

The loan app is available in countries like Nigeria, Portugal, United Kingdom, South Africa and Ghana.

How can I apply for Paylater loan in Ghana?

  • Download the app on Google Play Store
  • Create your account by filling out your personal details. You may be required to enter your personal details such as National ID card, residential address and valid email address
  • After successfully registration, you will be asked to enter your preferred loan amount. Check their rates or charges before confirming

Once your application is approved, your money will be disbursed to your mobile money account

Vodacash Loan

Just like MTN quick loan, you can access instant mobile money loan on Vodacash. Minimum loan amount is GHS10

How to apply for Vodafone Ready Loan

  • Dial *110# on your mobile phone
  • Select option 5 (financial services)
  • Select option 3 (loans)
  • Next, select option 1 (Ready Loan)
  • Select option 2 (ready loan request)
  • Select option 1 (opt in)
  • Enter your pin to proceed
  • Enter your loan amount and submit

Wait for five minutes to receive your funds

4Cedi loan

4Cedi loan app provides instant loans to individuals and small business owners in Ghana. 

Eligibility 

Applicant must be a resident of Ghana

He/She must be between 22 - 55 years

 Must have a national identification card (Voters, ECOWAS or Passport)

How to get loan on 4Cedi loan 

  • Download the app on Google Play Store
  • Register by filling out your personal information
  • Ensure all your details are correct and accurate
  • Enter your loan amount and submit
  • Once your application is approved, the money will be paid directly into your mobile money account

Mpaso loan

The app makes it easy for users to acess loan with your mobile phone at the comfort of your home. Loan amount ranges from GHS400 - GHS45,000

How to apply for Mpaso loan

  • Go to Google Play Store download and install the app
  • Create your Mpaso loan account
  • Choose your loan amount and apply
  • Once approved, your money will be paid to your mobile money account

SikaPurse

SikaPurse is another instant loan app to apply for loans. With SikaPurse, you can get a loan up to GHS5,000

How to apply for SikaPurse loan

  • Go to Google Play Store to install the app
  • Register an account
  • Fill out basic information and submit
  • Enter your loan amount and submit
  • Receive your loan straight to your mobile money or bank account

OZE Business App

Oze is a business app that helps its customers grow their businesses and access credit. The app also gives small business loan to it customers.

How to apply for Oze loan

Install the app from Google Play Store for free

Create your account and apply for your loan

Once your loan is approved, your money will be sent directly to your mobile money or bank account

Other Instant Loan Apps in Ghana are

Loan Supermarket

Sikapa CMA loan app

Aella Credit loan app

Branch loan app

C. Car loans in Ghana

Below are some of the banks and loan companies to apply for car loans in Ghana.

  • Stanbic Bank Ghana
  • First Bank Ghana
  • Calbank
  • Republic Bank of Ghana
  • Universal Microfinance
  • Microfinance and Small Loan Centre (Masloc)
  • Advance Ghana Savings and Loans
  • Society General
  • Izwe Savings and Loans
  • AIDEZ small project international and so on

Stanbic Bank Car Loan

The vehicle and asset finance is a medium-term loan offer to salaried and non-salaried customers to purchase both movable and immovable assets such as vehicles or power generators.

Minimum loan amount is $10,000. There is no maximum limit.

Features of Stanbic car loans

  1. An advance of up to 60% of your disposable net monthly salary
  2. Minimum overdraft limit of GHS100
  3. Monthly payback of used limit or a clean-up cycle of 30 days
  4. Interest applies only on portion of overdraft used each month

Benefits of Stanbic Bank car loans

  1. You can choose to repay your loan at the period you are comfortable with
  2. Flexible repayment options through the bank's salary account or direct payroll deduction
  3. You can manage repayments on the go using the bank's mobile banking app

Calbank Car Loan

It is one of the fastest banks to obtain car loan in Ghana. The loan is designed purposely for customers to purchase any vehicle of choice. 

Features of Calbank Car Loan

  1. The vehicle the applicant intend purchasing must not be older than five years
  2. The vehicle will be comprehensively insured.
  3. Tenure of payment is sixty months or less
  4. Vehicle shall be registered and insured in the joint names of Calbank and the customer

Requirements for obtaining Calbank car loan in Ghana 

  1. Minimum salary of GHS500.00 per month
  2. Must be between the ages of 18 - 53 years
  3. Applicant must also present evidence of employment
  4. He/She will also be required to present six months bank account statement

Documents to present before your Calbank loan can be processed

  1. Valid National ID (Passport, Driver's License, ECOWAS Card or SSNIT Card)
  2. Your recent passport picture
  3. Initial deposit of GHS500.00
  4. Proof of residential address
  5. Applicant must also have minimum balance of GHS500.00 to earn interest

Izwe Savings and Loans

Izwe is a savings and loans company that gives all sorts of loans to government employees. With Izwe Savings and Loans, you can be able to get loan to purchase your vehicle.

Society General Car Loans

The bank offer long-term vehicle loans to clients to purchase any type of vehicle in Ghana.

Requirements for getting a car loan with the Bank

  1. Applicant must open an account with the bank
  2. Must receive at least a month's salary with the account
  3. Applicant must also submit proof of employment
  4. Client must provide 3 consecutive payslips

First Bank loans

First Bank has all types of loans including car loans. It is also one of the fastest banks to get car loans in Ghana.

D. Private student loans in Ghana

1. Bank of Africa Ghana - Educational Loans

It is one of the most popular banks to apply for student loan in Ghana. The bank enables individuals in employment who have ambitions to further their education, access personal loans for that purpose.

Requirements for Bank of Africa - Educational Loan

  1. Applicant must be between the ages of 21 - 58 at the time of application
  2. Employee must have been in employment for more than six months
  3. Proof of employment/Letter from your employer
  4. Statement from your bank to confirm salary credits and transparency
  5. Bill from educational institution

Note : Bank of Africa student loan is opened to both customer and non customer.

2. Society General Ghana Student Loan

Society General offers a short-term consumer loans for students to finance their studies (school fees, school needs, etc.).

Society General payment period is up to 10 months. The bank offers a 150% financial bill. Repayment is flexible.

Requirements for Society General student loan

The list below are some of the requirements to meet before getting Society General student loan.

  1. Applicant must open an account with the bank
  2. Must receive at least a month's salary with the account
  3. Applicant must submit proof of employment
  4. Applicant must also provide 3 consecutive payslips

Visit any of their branches here in Ghana to apply

3. HFC Bank - HFC Educational Loan 

HFC Educational Loan is a personal loan aimed parents and matured students who are currently working.

HFC Educational Loan Requirements

  1. Applicant must open an account with the bank
  2. Applicant must not be less than 12 months in their present employment
  3. Applicant must also provide evidence of current school bills to the Bank

Visit any HFC branch in the country to apply

4. Trust Fund Student Logan

The Students Loan Trust Fund is established to alleviate the financial burden of students who cannot afford all their school fees. The STLF is for students who cannot afford their tution fees, accommodation, textbooks etc.

Requirements for Trust Fund Student Loan

Before an applicant apply for the loan, he/she must meet the requirements below

  1. Applicant must be a Ghanaian, and have been offered admission to study in one of the accredited tertiary institutions in Ghana
  2. He/She must have a valid Ghana Card Number
  3. Applicant must also be pursuing a tertiary program such as a diploma or 1st degree and have a Student ID card or admission letter
  4. Also, applicant must also have an active registered mobile phone number, a valid email address and E-zwitch Card 

E. NGO loans in Ghana

There are a couple of banks and savings and loans companies that give loans to NGOs in Ghana. Banks such as Ghana Commercial Bank, Stanbic Bank, Fidelity bank, Absa bank provides loans to finance some projects in Ghana.

Examples of some covered bank foundations in Ghana are Royal Bank of Canadas's Community and Sustainability Program, Societe Generale Corporate Foundation for Solidarity, Macquarie Group Foundation, Citi Foundation, Deutsche Bank America Foundation, Barclays Support for Communities and American Express Corporate Social Responsibility.

Conclusion

The above are some of the list of loans in Ghana as at the time of writing this article

Other related contents 

Online Loans In Ghana Without Collateral

15 Loan Apps In Ghana

Mobile Money Investment in Ghana

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