Getting instant loans in this era is much simpler. The number of money lending companies and micro-finance firms in Ghana is growing. As a result, identifying the best lender for you can be challenging.
Lending firms remove the question of guarantors and security before they offer their loans. Banks, on the other hand, will ask you to seek for guarantors and then you have to secure your loan. While there are many pros of lenders, borrowers should be keen not to be conned by dubious companies.
Best money lending companies in Ghana
Many people are opting to get money from lending companies at the expense of banks and other traditional institutions. You are sure to get an instant loan without much paperwork. Below is a list of the top money lenders in Ghana:
1. Cash Ghana Limited
Cash Ghana Limited is one of the best personal loan lenders in the country. The institution offers both pawn and payday loans. If you want to sell your unused items in exchange for money, then this platform is for you.
Paylater offers short-term loans in Ghana. Their mobile application has a simple interface that is easy to use. Aside from access to instant credit, you have an opportunity to save cash with the institution. The amount saved will earn a maximum interest of 15.5%.
3. Fido Money Lending
Fido Money Lending Limited is a well-known platform that offers instant online loans in Ghana. Your request is processed in less than ten minutes provided you meet their minimum criteria. Their application is freely available on Apple Store and Play Store.
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4. MTN Qwikloan
MTN Qwikiloan is a product of MTN and AFB Bank. The service is, therefore, only available for MTN subscribers. You can access a maximum of GHC 1000 without much hassle.
5. MTN Xpress Loan
The list of mobile money loans in Ghana is incomplete without mentioning the MTN Xpress Loan web application. Credit is given instant to MTN Money within seconds to those that qualify. The only downside of this resource is that only selected customers who have met the set targets are given loans.
6. Izwe Loans
Izwe Loans is one of the most reliable institutions for big loans. The agency’s main goal is enriching customers’ lives by offering them solutions to their needs. The company has grown its branch network to almost every part of the country. This makes it easy for anyone to access, contact, and apply for loans.
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Despite being new to the industry, KiaKia has already become the favourite platform for quick loans to many Ghanaians. It provides short-term credit to help its customers cover unexpected expenses. The mobile app comes with an easy to use interface that lets you know your creditworthy status in a few seconds.
Branch is one of the best applications for online loans without collateral. It works 24/7, thus you do not have to wait for specific times when you urgently need cash. A commission is given if you invite your friends using your affiliate link.
9. Palm Credit
Palm Credit is one of the popular lending platforms in Ghana that provides its users with collateral-free quick loans. You can take as many loans as you can once a credit limit is assigned. You do not need any verification if the limit is not exceeded. The faster you pay the debt, the higher your limit will grow over time.
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10. Fair Money
Fair Money is one of the best online money lenders in Ghana. Their credit is never backed up by collaterals, savings, or shares. You can register, request for a loan and have it deposited to your account instantly without any delays.
The above are some of the best money lending companies in Ghana. Keep in mind that you should repay your debts in time to avoid being blacklisted.
Yen.com.gh recently shared a list of the top 10 private companies in Ghana. Private companies in Ghana have fewer legal requirements than public companies. They also play a large role in employing people and they contribute largely to the economy of the country.
A private company is an entity that is owned by a small group of people called shareholders or a non-governmental organization. The stock market of private companies is privately owned and it is not availed to the general public.
DISCLAIMER: This article is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility!
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