We are in the technology era, and you can learn how to apply for MTN Qwikloan in Ghana without providing any collateral.
With the rapid advancement of technology in our daily lives, it is now easier to apply for instant mobile money loans in Ghana and get up to GHS 1000 for your business or personal use.
Unlike previously that you would have to walk to any nearest bank and fill a loan application form, provide collateral and guarantor before a loan is granted, mobile money services now let you apply for quick loans with the help of your mobile phone and pay later.
In today’s post, we shall focus and educate you on the complete guide on how to apply for this MTN Qwikloan as Ghana’s lending service and get it in your MTN Mobile Money wallet in Ghana.
What Is MTN QwikLoan?
According to MTN Ghana, MTN Qwik loan is a fast, easy and convenient way by which MTN subscribers using MTN Mobile Money can apply for instant mobile money loans and pay later using same mobile money wallet.
Since the MTN Mobile Money Qwik loan is instant loan in Ghana, MTN subscribers do not need provide any collateral or guarantor before a loan can be granted. Any MTN Mobile Money registered user can apply for this instant Mobile Money loan and get up to GHS 1000 and pay later.
Requirements for MTN Qwik Loan
Before MTN Mobile Money registered user can be qualified for instant mobile money loan, he or she has to meet some requirements and these are the terms and conditions about MTN Qwik loan.
- A user must be 18 years and above
- Using MTN Ghana SIM card for more than three (3) months or 90 days.
- A registered user on the MTN Mobile Money service and have been doing transactions such as sending and receiving money, buying airtime airtime with MTN Mobile money regularly, paying for bills and more.
- Having a good credit score with MTN Mobile Money. That is if your MTN Mobile Money wallet activity is too low, or you do not use the wallet at all, then you are not good or qualified to apply for the MTN Qwikloan.
After meeting all these requirements, it’s now time to know how much you can borrow from MTN Qwikloan in Ghana.
How Much Can You Borrow From MTN Qwik loan In Your Mobile Money.
The MTN Mobile Money Qwik loan does not grant a loan to first time borrowers with GHS 1000 instantly. However, a subscriber has to be borrowing and pay on time to have the chances to be qualified for higher loan score.
If this is your first time to borrow, you can only borrow money from GHS 20 or GHS 50 and pay later to get higher chances up to GHS 1,000.
A lot of users do apply for loans and forget to pay on time — that lead to the disqualification from apply for Qwik loan or reduction in amount qualified for.
It’s now time to look out for how to apply for MTN Qwik loan from your MTN Mobile Money account instantly.
How To Apply For MTN Qwik Loan
These are the steps to apply for MTN Qwik loan and get your loan granted into your MTN Mobile Money wallet.
- Dial the MTN Mobile Money short code, *170# on your mobile phone
- Choose option 5, Financial Services
- Choose the option 3 — for Loans
- Select the option 1 — for Qwik loan
- Select option 1 to register (new loan applicants) or select same 1 for QWIK LOAN
- Choose 1 — for Request Loan
- Now, enter your loan amount
- Confirm with agreement to the “Terms and Conditions”
- Confirm the repayment plan (Duration to pay back your loan)
- Select option 1 to confirm
- Enter your MTN Mobile Money PIN code
Watch A Complete Video Of How To Get MTN Qwikloan In Ghana
Once you are qualified for the loan and approved, your loan will be granted into your MTN Mobile Money account with an SMS to confirm.
You will now see the amount being granted, the amount to repay and the interest.
We have provided you with much information you need on how to borrow money from MTN Mobile Money with MTN Qwikloan service.
Frequently Asked Questions
To increase your MTN loan limit, kindly pay for the first money borrowed from MTN Qwik loan offer. You can learn more about how to repay your MTN Qwikloan here.
You are free to share with others — for them to also apply for instant Mobile Money loans from MTN Qwikloan service.