12 of the best online loans in Ghana without collateral

12 of the best online loans in Ghana without collateral

Online loan platforms have given traditional money lenders like banks a run for their money. The advantages of online loan providers are many; hence they have attracted many clients within a short period. For starters, online loan lenders require no collateral, which impedes people from seeking loans from banks. Online loans in Ghana without collateral are a lifesaver for people who have no security for the funds they seek.

Best online loans in Ghana
Photo: canva.com (modified by author)
Source: UGC


There is no shortage of loan apps in Ghana, and as long as you have a smartphone, accessing loan money is instant. All you have to do is create an account, request a loan, and have your money within minutes.

Online loans in Ghana without collateral

If you want loans in Ghana without collateral, you must know the right apps from which you will seek the service. As always, ensure that you download legitimate apps; otherwise, you may give your data to unscrupulous individuals.

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Which app gives loans without collateral? Below are some of the best apps that offer online loans in Ghana.

1. Fido

online loans in Ghana without collateral
The Fido logo. Photo: @Fido Loans
Source: Facebook
  • Maximum loan: GHC 3,000
  • Interest: Varies
  • Email address: info@fido.money

Fido is a mobile application through which users can get instant loans. You won't be asked to produce proof of any collateral to access the Fido loan.

However, you must produce an ID, details of your residence and those of your employment during the registration process. Fido will then determine if you qualify for the requested amount before disbursing the money.

2. PayLater (Carbon)

loan apps in ghana
The Carbon logo. Photo: @Carbon
Source: Facebook
  • Maximum loan: GHC 5,000
  • Interest: 5% p.m
  • Email address: +233240108580

PayLater brings together private money lenders in Accra, intending to provide smart cash loans to Ghanaians through a mobile application. Once you submit your application, money is instantly deposited into your mobile wallet.

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To kick-start the process, you must create an app account by filling in the basic information. Then, you apply for a loan, and once it is approved, you get your money in less than five minutes. First-time borrowers access 5 Ghana cedis with an interest rate of 5%.

3. Zidisha

How to get loan online instantly in Ghana?
The Zidisha logo. Photo: @Zidisha
Source: Facebook
  • Maximum loan: Varies
  • Interest: 1% p.m
  • Email address: team@zidisha.org

Since its establishment in 2009, Zidisha has concentrated on providing aid to small-scale entrepreneurs in a unique way. It has introduced an innovative peer-to-peer lending platform, which enables individual lenders to lend money directly to the recipients.

Zidisa loans range from as little as 100 Ghana Cedis to as large as the amount requested. These loans have a 1% interest rate, but a service fee of 5% of the loan amount is deducted and a 40 Ghana Cedis membership fee.

4. MTN Qwik

How can to get a loan if you don't have collateral?
The MTN logo. Photo: @MTN Ghana
Source: Facebook
  • Maximum loan: GHC 1,000
  • Interest: 6.9% p.m
  • Email address: customercare.gh@mtn.com

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MTN customers can access online loans through its partnership with AFB Ghana. To qualify for a credit, you must have transacted in your wallet for over 90 days. You can access instant loans of up to 1,000 Ghana Cedis if you meet all the requirements.

The interest rate is 6.9%, and no collateral is required other than the frequent use of MTN mobile money. However, previous credit must be repaid on time to access future loans.


Which app gives loan without collateral?
The OZE SME logo. Photo: @Oze
Source: Facebook
  • Maximum loan: GHC 10,000
  • Interest: 3% p.m
  • Email address: coach@getoze.com

It operates through partnerships with other fintech to avail small business loans. Download the OZE business app from where you can apply for a credit of up to 10,000 Ghana Cedis. The interest rate stands at 3% per month.

You can repay your credit through instalments that can be spread for as long as an entire year. Eligibility is determined by being an active OZE user for over a month. First, applications are reviewed by OZE coaches, after which processing is done.

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6. Pezesha

online loans in Ghana without collateral
The Pezesha logo. Photo: @Pezesha
Source: Facebook
  • Maximum loan: GHS 6000
  • Interest: 5%-8% p.m
  • Email address: ghana@pezesha.com

Pezesha is a platform dedicated to business loans of up to 6,000 Ghana Cedis. These include LPO financing, asset financing, inventory financing and working capital financing. You need to fill out an application form online and give your identification details.

The application process is easy and takes no more than two minutes. Credit repayment is flexible and can be done over three to twelve months.

7. LendingPapa

loan apps in Ghana
The LendingPapa logo. Photo: @1-lendingpapa-td
Source: Facebook
  • Maximum loan: GHC 5,000
  • Interest: 8%-22% p.a
  • Email address: lendingpapaservice@outlook.com

LendingPapa is another quick online loan app in Ghana. Go to the AppStore and download the LendingPapa app, from where you will access credit of up to 5,000 Ghana Cedis.

Having the app is not enough to access credit through LendingPapa because you have to register an account. Through the account, you can confirm your identity and be able to submit your application.

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8. KiaKia app

How can to get a loan if you don't have collateral?
The KiaKia logo. Photo: @Kiakia
Source: Facebook
  • Maximum loan: Varies
  • Interest: 5.6%-24%
  • Email address: helpdesk@kiakia.co

KiaKia app is among the most recent mobile money lending apps in Ghana. It boasts one of the quickest application processes that inform you of your status within minutes. In addition, KiaKia provides short-term loans that can be repaid within a short time.

9. BloomKash

How to get loan online instantly in Ghana?
The BloomKash logo. Photo: @BloomKash
Source: Facebook
  • Maximum loan: GHC 1,000
  • Interest: 0.1%-1% daily
  • Email address: +233307000566

BloomKash loan app provides you with instant credit for personal finance, vehicle repair, medical expenditures, or any other emergency. It provides fast mobile money loans and allows borrowers to acquire finance from anywhere and at any time. If you borrow money from the company, you must repay it within 91 to 365 days.

10. CashGhana Limited

Which app gives loan without collateral?
The CashGhana Limited logo. Photo: @CashGhana Limited
Source: Facebook
  • Maximum loan: Varies
  • Interest: Varies
  • Email address: info@cashghana.com

It is one of the best loan apps in Ghana, especially for employed people. CashGhana Limited offers a salary advance to employed people in private and public service. The short-term pawn loan is issued without you being required to have any collateral.

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The requirements are lenient because all you have to produce is a valid national ID and a letter from your employer's accounts office. Once you submit your application, money is disbursed to your account immediately. The loan may have a term length of 1 day to 30 days/one month, plus a sometimes a free grace period.

11. Boseapa

online loans in Ghana without collateral
The Boseapa logo. Photo: @Boseapa Loan Limited
Source: Facebook
  • Maximum loan: GHC 200,000
  • Interest: 0.0057% daily
  • Email address: seviceboseapa@boseapa.com

Boseapa is Ghana mobile application that provides instant loans of up to 200,000 Ghana Cedis. They have customer support for 24 hours with a quick loan transferred directly into your account. Their charge rate is 0.057% daily and 20.80% annually.

12. SikaPurse loan app

loan apps in Ghana
The SikaPurse logo. Photo: @SikaPurse
Source: Facebook
  • Maximum loan: GHC 5,000
  • Interest: 8%-25% p.a
  • Email address: sikapurseservice@outlook.com

SikaPurse loan app offers loans to lenders without collateral. First-time borrowers can access as much as 2,000 GHC and up to 5,000 GHC for all borrowers. Their loan interest ranges from 8% to 25% per annum. The borrower can build the credit limit by paying loans on time.

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How to get loan online instantly in Ghana

Before you apply for any online loan, it is crucial to conduct your own research to ensure that you are borrowing from a reputable and accredited lending app. A majority of these loan apps can be found on the Google Play store.

You would need to download the app, register with your necessary information, and verify it. Once you have completed your application, you can determine if you qualify for a loan and find out what your borrowing limits are.

Bear in mind that instant loans typically come with high-interest rates and additional fees. Therefore, it is vital to comprehend the loan terms and ensure that you can repay the loan before applying.

How can to get a loan if you don't have collateral?

The best way to get unsecured credit in Ghana is through mobile applications that only need personal information.

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Is Fairmoney loan in Ghana?

Nigerian-based company Fairmoney has its presence in Ghana, where it lends money through a mobile application.

Is there a limit for mobile money loans?

Yes, new borrowers are usually subjected to low limits, which grow based on your repayment history.

Can I get a mobile money loan in Ghana without paying the first loan?

No, once you have been given credit, you have to complete paying it before being given another.

Thanks to the many apps and sites that are available, getting online loans in Ghana without collateral is now easy. Instant mobile money loans come in handy during personal emergencies and for small businesses that do not have savings. Furthermore, the limit increases by paying the credit on time; hence, you can borrow more.

DISCLAIMER: This article is not sponsored by any third party. It 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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Yen.com.gh shared an interesting article about how to make money online in Ghana as a student. With the growth of internet access, there are many options to choose from.

Creativity makes it possible to earn extra cash. The article gives legitimate online opportunities available and ideas to help you boost your income.

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Source: YEN.com.gh

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