To begin with, a collateral is a property (such as securities) pledged by a borrower to protect the interests of the lender. It could be a house, land or anything else owned by yourself which is worth a loan you want to secure. here in Ghana, it’s one of the basic requirements of getting through a loan process.
Below are 5 best online loan service I recommend;
1. FIDO LOANS
With Fido loan, you would receive your loan request through your mobile money account at the convenience of your home.
All you do is to get on their site or download their app(either on playstore or App store) , create and account, then you’re good to go.
fido would give you loans is smaller amounts for the start, based on your commitment in paying for your loan you can secure a huger amount. They offer short-term loans that are fast and convenient for Ghanaians. The lowest loan amount is GH₵ 200, with a maximum loan amount of GH₵ 1000.
2. ZIDISHA LOANS
Unlike Fido loan service and others, Zidisha’s platform are for people who are willing to give out monies as loans to borrowers. the process is safe and zero of fraudulence. one can secure a loan from an individual on the site or through the app after reaching the necessary registration requirements. you could secure up to GH₵50,000 with a good business objective.
want to know more about Zidisha, visit their website at https://www.zidisha.org/
3. CARBON OR PAYLATER
Carbon can give an individual up to GH₵ 1000 as a loan without collateral. with carbon, regardless of the fact that you’re an entrepreneur or not, you can be granted a loan. You don’t face any penalty if you’re not able to repay the loan on time. The only thing is that you won’t be able to secure any other loan from them because you owe them already.
Download the app on either Playstore or App store.
4.VODAFONE READY LOAN
Vodafone Ready Loan is a loan service which gives loan to its network users, Vodafone. you would need to have a Vodafone cash account so monies borrowed to you can be deposited into. Vodafone Ready Loan is very convenient as you can secure a loan from them within less than 5 minutes. with Vodafone Ready Loan you necessarily do not need to download an app, just use the short code *110# and follow the prompts.
Vodafone Ready Loan does not have a specific Maximum amount to give to borrowers.
5. MTN QWIKLOAN
MTN Qwikloan is currently the most popular mobile loan service in Ghana. This probably could be due to the fact that mtn has a lot of people on their network. to secure a loan from mtn Qwikloan, you’re expected of to actively use your mobile money account to make a lot of transactions.
This is one of the basic criterions to secure Mtn Qwikloan without a collateral.
same as Vodafone Ready Loan;
1.You do not need to download an app
2.You should be an mtn user
3. You would receive your loan in less than five minutes after review.
With all these shared with you, I hope this article becomes helpful to you, so you successfully secure a loan without a collateral.