July 14th, 2022 at 10:23 am

How to apply for MTN Mobile Money Quick loans.

Getting a loan from a bank can be such a daunting task. The demand for collateral and guarantors can be so stressful and frustrating. It is due to these challenges that some outfits have made it easier to access instant loans. One such outfit is MTN Ghana’s Qwikloan.

WHAT IS MTN QWIKLOAN ?

MTN Qwikloan is a financial solution that offers easy, quick, and convenient ways by which subscribers of MTN can access loans using their MTN mobile money platform. This short-term loan does not demand you to go through the hustle of having collateral or a guarantor. You can access loans up to GHS 1000.

REQUIREMENTS FOR THE QWIKLOAN

There are some guidelines in regards to obtaining the Qwikloan. Being able to meet the requirements gives you the edge to be a prospective applicant. The requirements for the loan include:

• The applicant must be 18 years and above.
• The applicant must own an MTN Ghana sim card and should have used it for at least 90 days.
• An applicant should have registered for the services of Mobile money and should be actively using the wallet for transactions.
• Prospective applicants must have an active e-wallet
• Your credit score or history should be good in order to access the MTN Qwikloan if you are a constant user of the service.

HOW TO APPLY FOR THE MTN QWIKLOAN

When you know whether you are eligible or not for the loan, follow these steps:

• Dial *170# on your mobile device.
• Choose option 5 and select Financial Services.
• Choose option 3 for loans and select Qwikloan
• Select the option that says Get a loan and choose the amount you want as a loan.
• Choose your repayment plan
• Then enter your Momo pin to complete the process.
• When your application is approved you will receive a notification from MTN stating The Loan Amount, the Repayment Amount, the Interest Rate of 6.9%, and the due date for repayment.

HOW TO REPAY YOUR LOAN

1. Deposit the amount of money you owe or more into your mobile money wallet before the due date to repay the loan.
2. Also the amount would automatically be deducted from your wallet when the date is due.
3. Again, you could manually repay your loan by choosing the repay loan option on the Qwikloan menu.

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