Loan apps in Ghana. Online loan platforms allow individuals to access financial assistance online and later repay with a small interest. Persons interested in these online loans are required to create accounts on these loan app platforms which are then verified by the issuing company before approving one’s loan request. Here are some notable loan apps in Ghana.
Fido money lending is one of the leading money lending platforms in Ghana. They provide money lending services to anyone without collateral or a guarantor. They also process loan requests within a few minutes provided you submit all requested documents and information.
MOCO Loan App
The MOCO loan app is another great money lending app that allows loan applicants to fill in the application information on their mobile phone and submit the application quickly. The maximum quota for approval is between GHS100 – GHS5000 where users are given a loan repayment term of 90 – 180 days. This platform also charges a loan interest of 19.45% per annum – 31.29% per annum and a service rate: 1% – 3%.
Cocoa Loan App
Cocoa loan app is another online money lending app that does not need any form of collateral or guarantor to apply. Applicants can choose different time periods to repay the loan according to their needs. Cocoa loan app has a maximum loan amount of GHS 5000 and a 91days repayment policy. The cocoa loan app can be downloaded from both the android play-store and iOS app-store respectively.
GHLending app is another great instant loan app which provides applicants with money lending services within short period of 2-24 hours after request. Users do not need any guarantor to request for loans on this app. Funds are settled into an applicants mobile money wallet which can then be cashed out. A user can request a minimum loan between GHS100 – GHS5000. The daily interest rate for this loan platform is 0.04% daily or an annual (ARP) of 4% – 35%.
All the above listed money loan apps are great when it comes to lending money quickly without going through so many paper works or the need for a guarantor. One common feature is they all provide initial applicants a minimum of GHS 100.00 which is later increased based on how fast they repay their loans.