MTN offers quick loan via mobile money platform


MTN Ghana in partnership with Afb GHANA have launched the “Qwikloan” service to provide convenience to customers in times of need to enhance their business.

The service, dubbed, “Qwikloan” is fast, easy, and convenient which enables customers to access loans using their MTN mobile money platform.

Mr Eli Hini, the General Manager of Mobile Money Limited, speaking at the event said with Qwikloan, customers do not have to go through the hustle to provide proof of collateral in order to access the loan.

He said Qwikloan was an instant way to access a cash loan, at any time for any purpose from one’s Mobile phone, saying, customers can access loan up to GH¢ 1,000.

“All you have to do is use MTN Mobile Money wallet more frequently and also commit to repay your loans on time in order to have access to more loans.

MTN customers simply have to dial *170# and choose option 6 to access the Qwikloan” he said.

He said customers can have access to this loan only if; they frequently performed the transactions on Mobile Money by sending and receiving money, purchase airtime, pay bills among others.

According to him if one’s MTN Mobile Money wallet activity is too low, or the customer have not used the wallet at all, he or she may not be able to qualify for a Qwikloan.

Using a single MTN SIM for all airtime and Mobile Money activities is very necessary with respect to the Qwikoan, he stated.

He said to access the loan, the customer have to be above the age of 18 ,be an MTN customer for more than 90 days, and Simply deposit money into his or her MTN Mobile Money wallet before the due date to repay the loan.

The loan amount would automatically be deducted from one’s wallet.

Furthermore, he added that, customers can only have one active Qwikloan at a time, but once the loan has been repaid, they can apply for another loan, saying “There are limits to the number of loans a customer can take in a day or a week so you may have to wait for a few days before taking another loan after repaying.”

Qwikloan is a 30 day loan. At the end of 30 days, the loan is repaid in one single amount at a fee of 6.9 per cent and it does not need a bank account to access it.

“You can repay your loan manually at any time, by selecting the Repay loan option on the Qwikloan menu” he said.

He said MTN would continue to find ways to bring innovative products and services to its cherished customers in their quest to promote a cashless economy.

He also advised customers to safeguard their Mobile Money wallet by ensuring that they do not disclose their pin , do not entertain calls or messages concerning their Mobile Money accounts, and also do not give their phones for mobile money transactions to be performed on their behalf.

This, he said would help their fraud awareness campaign.

Mr Arnold Parker, the General Manager Afb Ghana, expressed satisfaction at the partnership between the two institutions.

He said the service would allow them to scale up and offer financial inclusion to over a million of customers in the informal sector, adding that “we trust Ghanaians and we have given them loans, we believe that they will pay back on time.”

Mrs Clarissa Kudowor, the Assistant Director, Payment Systems Bank of Ghana, said they have endorsed the product but urged customers to feel free and report any dissatisfaction they encounter as far as the service was concerned.

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  1. I am using my MTN number for long and I have been transfering Money and buy airtime but if I request for loan I don’t get please check through and do something about it for me please

  2. Comment:I have used my line for more than two years I do transfer to other people I save in my wallet I buy airtime and internet bundle from my wallet but I requested for an emergency loan but no one helped me out

  3. Please I have not defaulted in paying my mtn Afb loan but I have been denied taking the loan again so do something about it. I have been transacting with my momo wallet but still.

  4. I need money today so please do something about it today for me and I need urgent reply please

  5. Please I can’t still access the mtn-afb mobile money loan oooo. I guess you have not treated me well at all

  6. I paid my loan before the due date. but you people a saying l m not qualified to take another loan,please do well and intatain me as customer .l need quickloan to day.

  7. I have been requesting fr the loan and also pay on time to n I do send money and receive bt nw I money bt they did nt give me u can even check am Alhassan Faiza.Thank u

  8. Please check my day Cash in and cash out on mtn MOMO, I took a loan and paid it exactly the due date, I went in for another I have denied till now, I am a mobile phone dealer and sometimes I need some money to conclude my business, please do something about it

  9. Please, I am using mtn Quick Loan then I did not owned but when i apply, it responded that my application reaches limit, what should I do? Please, I need help. Thank you.

  10. Ernest Owusu I have used mtn for more than eight years and I have been doing all the necessary mobile money transactions but they keep saying I don’t qualify for a loan so please check it for me

  11. I have used my number for long and also used my number for all the necessary transactions but still they keep saying that I don’t qualify for a loan so please check and do something about it

  12. Good evening I have been borrowing money from quick loan pay on time and mostly I even pay before my time and request for a new one just last month and am supposed to settle it on 16-02-2020 and i decide to pay today being 14th and apply for a new one for something only to be told am not qualify how can they do that check my records

  13. Why can’t I access a new loan even though I paid before due date. Am really disappointed because I used part of business money to pay so that I could Accra more the boost my business only to find out that I have been denied a new loan
    Please do something about it for me

  14. anytime i pay a loan,i pay on time but since last year i havnt been able to…i send and recive money always too….

  15. Thanks for sharing this article. I think that Qwikloan is a big help to those who need cash like me. I’ll definitely try this.

  16. I defaulted shortly because I was in a sick bed. But i repaid it within couple of days. Since then, I have been denied another chance to access a loan. I love your device and would not like to be Left out.Pls reconnect me.Thank you

  17. MTN you do all everywhere you go I like Ur loans but now I don’t feel well for you because I applied a loan of ghc98 and I played it in three days time after I pay I request another loan because I though this time I can get more than that but immediately I request they told me I am not qualifie to get a loan what a shame of me why this my good service like U MTN I always used you for my transaction, my anything I needed your help please try to connect me again thank you. MTN Everywhere you go

  18. Let’s say if I take a loan of 50 cedis and I pay 40 cedis and the date is due .will the 12.5% penalty be on the 50cedis or the 10cedis

  19. Great article. I think that Qwikloan is very helpful especially to business owners. I want to try this as well. I think that this will surely help me to get instant cash. Thanks for sharing this article.


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