Online loans in Ghana without collateral

By | July 8, 2022
online loans in ghana without collateral

In Ghana, online loans are becoming more and more popular. This is because they are easy to obtain and can be used for a variety of purposes. However, many people are not aware of the fact that these loans often come with high-interest rates. As a result, it is important to be careful when taking out an online loan. In this blog post, we will provide some tips on how to avoid getting into debt when taking out an online loan in Ghana.

The number of people taking out loans online in Ghana is on the rise. But what are the risks and benefits of such a move? Most online loans in Ghana are unsecured, meaning they don’t require any collateral. This can be a good thing if you don’t have anything to put up for collateral, but it also means the lender is taking on more risk.

Online loans in Ghana without collateral

Check out some of the best online loans in Ghana without collateral;

MTN Qwikloans

Through their collaboration with AFB Ghana, MTN customers have access to online loans. You must have made purchases in your wallet for more than 90 days in order to be eligible for a credit. You may be eligible for immediate loans of up to 1,000 Ghana Cedis if you satisfy all the requirements. There is no requirement for collateral other than the regular use of MTN mobile money; the interest rate is 6.9%. To be eligible for future loans, previous credit must be paid off in full.

Fido money lending

Users of the mobile application Fido money lending can obtain quick loans. You won’t need to visit a bank to withdraw money because grants are sent directly to your mobile money wallet when you request them. Furthermore, no collateral proof will be required in order for you to access the Fido grant. When registering, you must, however, present identification, proof of residency, and proof of employment. Then, before disbursing the funds, Fido will decide whether you are eligible for the amount you requested.


It is one of Ghana’s most recent mobile lending applications. One of the quickest application processes, it can let you know your status in a matter of minutes. As an added bonus, KiaKia offers quick-repaying short-term loans.


With the aim of giving Ghanaians smart cash grants via a mobile application, PayLater brings around each other private money lenders in Accra. Following application submission, funds are immediately deposited into your mobile wallet. You must first set up an account on the app by providing the necessary details in order to begin the process. After that, you apply for a loan, and less than five minutes after it is approved, you receive the money. Access to 5 Ghana cedis with a 5% interest rate is available to first-time borrowers.

Zidisha app

Lenders and entrepreneurs come together in this microlending community. A Zidisha app, an ID, and suggestions from friends or family are necessary to apply for a grant. Entrepreneurs must post their loan application and justification for accepting the grant.

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