How to qualify for MTN loan
Mtn QwikLoan is a financial solution in Ghana that provides quick and convenient loans to mtn subscribers. MTN Qwikloan is a short-term cash loan that requires no collateral paid into one’s MTN Mobile Money wallet. The loan does not require previous savings and is accessible. Consistent access to MTN Qwikloan depends on paying your loan on time.
MTN Ghana can help you with that. MTN Ghana loan allows customers to borrow money quickly and conveniently. With MTN Ghana QwikLoan, you can access funds in as little as two minutes with no collateral. If you are interested in getting a loan from MTN Ghana, the process is relatively easy.
How to qualify for MTN quickloan
To qualify for an MTN Ghana loan, you must meet certain eligibility criteria.
1. Be 18 years and above
You become viable for loan when you are 18 years and above in Ghana. This doesn’t apply to only Qwikloan but all loan services in the country. Interested applicants must be 18 years and above to be able to apply for MTN quickloan.
2. Have an MTN Ghana sim card
To be able to apply for MTN quickloan, you need to be an mtn customer which means you must have an active MTN simcard in your phone.
3. You must have used the MTN services for more than 90 days
MTN gives financial support to their faithful customers. You can’t buy a sim card today, apply for a loan and then throw the SIM away. To be able to quality for quickloan, you must have used your MTN sim card for atleast 90 days or more. With that, it means you are a loyal customer of MTN.
4. Be an active user of MTN MoMo services and have an active wallet
Have you registered MTN mobile money on your sim card? if yes, how active and how long have you used the MTN MoMo service. All this amount to your eligibility to be able to qualify for MTN quickloan.
5. Must have a good credit score
If you have used the quickloan service before, were you quick in paying your debts, doing so will strengthen your credit score. If not, then it will be difficult getting another loan from MTN so make sure you pay your loan on time to be able to request for a new one.
How to apply for MTN quickloan
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Now that you have read the eligibility, if you are eligible for a quickloan, then you will have to go ahead and apply. To apply for MTN quickloan,
- Dial *170# on your mobile device.
- Select option 5 (Financial services).
- Choose option 3 (Loans).
- Select option 1 (QwikLoan).
- Choose option 1 (Get Loan).
- Enter your Mobile Money pin to advance to the next option.
- Enter your required loan amount and press send.
- Once your application has been approved, you will be given a loan amount that you can use for whatever purpose you need.
What is the interest rate for MTN qwikloan?
MTN Qwikloan has a competitive interest
rate when compared to other loan facilities. The interest rate is 6.9% for a loan of 30 days duration. Interest rate on MTNQwikloan can increase to 12% when you did not repay within the agreed period.
How to check your MTN qwikloan limit?
Your Qwikloan limit decides how much you will be able to request from MTN. To be able to check your quickloan and know how much you can request,
- Dial *170# on your mobile device.
- Choose option 5, (Financial Service).
- Click option 3, (Qwikloan).
- Click Loan Limit.
- Enter your Mobile Money PIN and proceed to check your loan limit.
How to increase your MTN quickloan limit
If you are new to MTN QwikLoan, your limit is usually low. To increase your limits, use MTN mobile money regularly. The more you use, the more your limit increases. Keep sending money using MTN Mobile money and encourage people to send your payment through MTN mobile money. Buy airtime and mobile data through MTN mobile money and keep money in your wallet regularly.
How much you can borrow from MTN Qwikloan
There are limits for MTN Qwikloan for first time borrowers. In most cases, you can only borrow GHS 20 or GHS 50 and it increases as time goes on. If you are already a subsequent borrower of the service and your credit score is high, you have a chance of getting GHS 1000 limit.
Final words
If you are looking for an easy and convenient way to get a loan in Ghana, MTN Ghana is a great option. With their competitive interest rates and flexible repayment plans, you can get the money you need without having to worry about high interest rates or other fees. So if you’re looking for a loan in Ghana, make sure to check out MTN Ghana for a loan that can meet your needs.
