As humans, there may be times where one may need cash to ease themselves until things get better and quick cash or loan may be the option. If you need quick cash in Ghana, you don’t have to go through the stress of visiting a bank branch and waiting weeks for approval. Thanks to mobile money platforms, digital banks, and licensed loan apps, getting an instant loan in Ghana is easier than ever. Whether you need money for an emergency, business expansion, or personal expenses, this write up will walk you through the best instant loan providers in Ghana and how to apply.
Best Places to Get Instant Loans in Ghana
1. MTN Qwikloan (Quick Loan)
- Platform: MTN MoMo
- Loan Amount: Up to GHS 1,000
- Requirements: Active MoMo account for at least 90 days with frequent transactions.
- Interest Rate: ~6.9%
- How to Apply: Dial *170# → Financial Services → Loans.
- Ideal for: MoMo users who need fast, small loans in Ghana.
2. Fido Micro Credit
- Platform: Fido App (regulated by the Bank of Ghana)
- Loan Amount: GHS 200 – GHS 4,000
- Interest Rate: 8%–14%
- Repayment: 10 to 33 days (first-timers get smaller amounts).
- Ideal for: Individuals and small businesses seeking reliable, collateral-free loans.
3. Carbon Loan App (Paylater)
- Platform: Mobile app (Android/iOS)
- Loan Amount: GHS 100 – GHS 5,000
- Interest Rate: 4.5%–30% monthly
- Features: Bill payments, credit score building, and “Carbon Zero” for interest-free shopping.
- Ideal for: People who want a loan app in Ghana with flexible repayment terms.
4. AirtelTigo Money Loan (AT Money)
- Platform: AirtelTigo Money Wallet (*110#)
- Loan Amount: GHS 5 – GHS 2,000
- Repayment: 7–30 days with early repayment discounts.
- Ideal for: AirtelTigo users looking for quick loans directly to MoMo wallet.
5. GhLending Loan App
- Platform: Mobile app
- Loan Amount: GHS 100 – GHS 5,000
- Interest Rate: ~0.04% (very low)
- Repayment: 90–365 days.
- Ideal for: Borrowers seeking low-interest loans in Ghana.
6. Blue CashXpress
- Platform: Mobile app
- Loan Amount: GHS 200 – GHS 15,000
- Repayment: 1–6 months
- Disbursement: Directly to MoMo or bank account.
- Ideal for: Entrepreneurs and small businesses needing higher loan amounts in Ghana.
7. Salary Advance Loan
- Platform: GCB, Access Bank, etc.
- Loan Amount: Based on salary
- Repayment: Deducted on next payday
- Disbursement: Within 24 hours.
- Ideal for: Salaried workers needing a short-term loan in Ghana. Workers are given an advance payment of their salary as loan.
Tips for Borrowing Loans Responsibly in Ghana
- Borrow only what you can repay.
- Compare interest rates before applying.
- Stick to apps licensed by the Bank of Ghana.
- Repay early to improve your credit score and access bigger loans.