Loans for private workers in Ghana

Loans for private workers in Ghana

Loans for private workers in Ghana is fast gaining popularity among private workers. To start things off, understanding who the private worker is and what sector they fall into is very crucial. The private sector in an economy which is not controlled by the government/state; instead, companies and individuals oversee all operations, for a profit. The public sector is its opposite. This is controlled by the state. In Ghana, the private sector accounts for a majority of the jobs given to Ghanaians. This is either, directly as business owners, or through employment from private companies. This makes loans for private workers in Ghana one of the most profitable businesses in the country, but when approached right.

Loans for private workers in Ghana

Getting a loan as a private worker in Ghana is not that difficult. Nonetheless, you have to meet minimum specifications, for you to become eligible for a given loan limit. Different loan companies in Ghana, have a great line of products that will favor a private worker. Both salary loans and asset finance are some of the loans available for private workers in Ghana.

Savings and loans companies in Ghana

Savings and loans concept is not new in the market. Like banks, the savings and loans companies offer mortgages, deposits, loans, debit cards and loans. Nonetheless, the savings and loans companies concentrate more on the residential mortgages while the banks focus much on doing business with well-established businesses, on unsecured credit services like the credit cards. The savings and loans companies have a unique charter as opposed to banks and focus more on the local area of operation.

READ ALSO: Banks that give student loans in Ghana

In Ghana, savings and loans companies have mushroomed in the recent years to satisfy the increasing demand for loans from Ghanaians seeking to improve their livelihoods in one way or another. Below is a list of savings and loans companies that might prove helpful in your quest to improve your living:

Advans Ghana

loan companies in ghana

With Small-Medium enterprises, micro-entrepreneurs, and individuals being the focus of Advans Ghana, the company offers financial products that seek to grow businesses by providing access to financial services; especially loans.

Advance Ghana is under the watchful eye of the bank of Ghana. Unlike most micro-lending companies, advance Ghana has a strong backing from its shareholders, including Advance SA, KFW, Société Générale, and International Financial Corporation. In addition to this, this savings and loans company is a member of the Advans group. This group is a network of microbanks and micro-finance institutions (MFIs) whose main product is centered on adapted financial services to Micro, Small and Medium-sized Enterprises (MSMEs) and low-income populations in developing, emerging and frontier countries.

You can reach Advance Ghana through:

  • Call our Contact Center; 030 708 4522
  • Toll-Free: 0800 3553 55
  • Website:

SIC Life Savings & Loans Limited

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SIC Life Trust Finance Limited turned SIC life savings and loans limited is licensed by the bank of Ghana to operate as a finance house. This was done in accordance with the Banking Act, 2004 (Act 673). On 15th July 2015, the company was licensed to offer savings and loans services.

SIC Life S&L is a fully owned subservient of Ghana’s top life insurance company, SIC Life Company Limited Ghana. The company seeks to offer top-notch financial products with competitive interest rate, as a non-bank financial company.

You can reach SIC Life Savings & Loans Limited through:

  • P. O. Box KN 4768, Kaneshie, Accra
  • Offices: Section 28, Block 15, Tudu, Accra - Ghana
  • Tel: +233 (0) 57 773 7826; +233 (0) 55 659 0241
  • Email:
  • Website:

ABii National Savings and Loans

private loan lenders in ghana

Licensed under the Non-Bank financial Institutional law, 2008, (Act 774) ABii national is a Savings a loans company founded in 2011 with the aim of offering financial services to the general public. With Bank of Ghana supervising its operations, ABii National takes deposits from the public, and other institutions provide loan products and other crucial financial services. In addition to this, ABii National, through her partnering banks, executes clearing direct transfers and other international trades.

ABii National offers a number of products, which includes:

  • Salary loans.
  • ABii salary advance.
  • Personal Loan.
  • ABii clearing Advance.
  • Working Capital.
  • Revolving Loan.
  • ABii work and Pay.
  • ABii SME loan.
  • Overdraft.
  • Corporate Loans.

You can reach ABii National through:

  • ABii National (Head Office); Priority House, Adjacent C.Woermann, Avenor Junction.
  • Post Office Box CT 10067, Cantonments, Accra.
  • Tel: (233) 302241050.
  • Hotline: 233 577-709-000.
  • Email:
  • Website:

Loan companies in Ghana

Private loan lenders in Ghana range from banks, savings and loans companies, instant loan providers among others. This ensures there is a limitless opportunity for private workers to access loans when need be.

Below are some of the most reputable loan companies in Ghana providing quality services.

Adom Savings and Loans Limited

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Adom S&L company is focused on delivering financial services to the market. This is based on three principles, i.e., Financial stability, social responsibility and high profitability.

Adom offers Adom personal loans to both the private and salaried workers. This is one of the many products offered by this Bank of Ghana regulated financial institution. Requirements for one to be eligible for this kind of loan include:

  • Employment confirmation letter.
  • Last three (3) month’s pay slip.
  • Valid National ID.
  • One (1) passport sized photograph.
  • Salary range from GHS 500 and above.
  • Equal monthly installment.
  • Personal guarantee from a colleague.

With the target market being private sector salaried workers, one gets to enjoy the following advantages from getting this kind of loan:

  • No collateral required.
  • Loan satisfies diverse needs.
  • Quick loan processing.
  • Up to Twenty four (24) months repayment limit.

Adom Savings and Loans main offices are located in Ayikai street, Abossey Okai Opp. Mamprobi Trotro station, Kaneshie. Their active lines are 0302 631119 / 0302 631117 / 0302 631178. You can also reach them via an internet email service using, or their website . It is important to note that Adom Savings and Loans open from Monday to Friday 8am-6pm if you wish to make a personal visit to their offices.

Collateral loans

Collateral loans in Ghana are also available. This is where you get loans from a financial institution, leaving an asset as a guarantee that you will pay your loan. Failure to honor terms and pay your loans in time, you risk losing your asset, which will be sold by the institution to recover the loan amount. Companies offering collateral loans in Ghana include:

izwe loans

unsecured loans in ghana

Izwe loan is a trusted lender in Ghana offering Ghanaians with financial needs a range of loan products that they can use for their improvement. One of these products is car4cashloan. This product targets clients with vehicles to use it as collateral for their loan. Car4cash loans allow individuals to get loans worth the value of their car. Needless to say, you will still use your car while having the loan.

You can contact Izwe loan through:

  • Visiting their office at 1st Floor, Maestro Plaza, Kotobabi, High Street, Accra, Ghana
  • Phone Number: +233 (0) 302 251 042
  • Email:
  • Website

READ ALSO: How to write a loan application letter in Ghana

Unsecured loans

Unsecured loans are loans that are given based on the client’s worthiness as opposed to collateral. Banks offer this kind of loans to assist in lifestyle improvement among other things. Below is a financial institution in Ghana offering this kind of product:

Stanbic Bank

Loans for private workers in Ghana


This institution has a reputation for providing quality financial products to their clients. They have various unsecured loan packages, which varies from short to medium term loan.

1. Fixed Term Loans (FTL): A short-term personal loan is ideal if you earn a minimum net salary of GHS400 a month.

2. Revolving Term Loan (RTL): A short- to medium-term revolving personal loan if you earn a minimum net salary of GHS700 a month.

3. Employer Managed Scheme Loan (EMS): A short- to medium-term personal loan structured for salaried employees on our Workplace Banking Group Scheme who earn a minimum net salary of GHS300 a month at negotiated concessionary rates.

Standard Chartered

private loan lenders in ghana

Standard Chartered offers a unique opportunity for those willing to make improvements in their lives by providing unsecured loans to individuals. This institution offers two types of personal loans, which are:

Smart scheme – smart scheme will help you further your studies by allowing you raise your postgraduate fees, buy a new car, and pay the school fees of your child. If your organization has an agreement with your organization, you can submit your application and get access to funds.

Monthly repayment amount will be automatically deducted from your employer directly. You can reach the back through, 0302 633 552-4 to confirm if your company has signed with Standard Chartered Bank for smart scheme.

Smart credit – this unsecured loan is available to anyone whose salary is paid through Standard Chartered Bank. All the monthly deductions will be taken from your account.

For you to be eligible for these loans you need:

  • Net minimum salary of GHS700.
  • Have to be a salaried worker.

When applying, you need to have the following documentation:

  • Completed application form.
  • IID – Important Information Document.
  • Passport / Driver's License / National Identification Card / Voters ID.
  • Most recent salary slip.
  • Bank statements for the last three months.
  • Letter of Undertaking required of only CAGD customers (Only for Smart Scheme Loan).

Modern lenders in Ghana

Lending business in the modern Ghana has changed. This is in response to the changing market environment and heavy regulations imposed on lenders by the Ghanaian government. Business market in modern Ghana and the world at large is very dynamic with changes happening every day. The need to access loans within short notice has facilitated the creation of products such as emergency loans in Ghana. In addition to this, money lenders in Ghana have moved towards creating lending options such as instant loan in Ghana to cater for the needs of those who need instant cash.

money lenders in ghana

Other products such as Rent loans in Ghana have also been developed by modern lenders to sort issues associated with rent. Internet banking has also been on the rise with most modern lenders using it as a means to reach a larger client base, which in turn increases their profits. Below is a list of Modern lenders in Ghana that you might consider going to whenever you need a loan:

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Source: Yen Newspaper

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