MTN QwikLoan is a short-term, unsecured cash loan provided by Afb Ghana and MTN MoMo. It offers quick and convenient loans to MTN MoMo subscribers in Ghana.
How to make MTN Borrow You Money Faster
The loan is deposited directly into your MTN Mobile Money wallet, and it is accessible without the need for previous savings.
By consistently paying your loan on time, you can maintain access to this financial solution whenever you require it.
MTN QwikLoan requirements
To be eligible for MTN QwikLoan, you must fulfill the following criteria:
Age and SIM card requirement
- You must be 18 years or older.
- You must possess an MTN Ghana SIM card.
Duration and usage
- You should have been an MTN service user for at least 90 days.
- You must be an active user of MTN Mobile Money services.
E-wallet and credit score
- Prospective applicants must have an active e-wallet.
- If you frequently use MTN QwikLoan services, having a good credit score and repayment history is essential.
How to apply for MTN QwikLoan
Follow these steps to apply for an MTN QwikLoan:
Dial the code
- On your MTN MoMo number, dial *170#.
Select options
- Choose “Financial Services” (option 5).
- Select “Loans” (option 3).
- Choose “QWIKLOAN” (option 1).
- Select “Get a loan” (option 1).
Confirm the loan
- Enter your secret Mobile Money PIN code to confirm your loan request.
Determine the loan amount
- For first-timers, the loan amount usually ranges from GHS 20 to GHS 60.
- If you have a repayment history, you can enter the desired amount within the given range.
Accept payment terms
- Accept the payment terms and proceed.
Loan disbursement
- An SMS will be sent to notify you that the loan has been paid into your MoMo wallet.
How to Repay your MTN QwikLoan
There are two ways to repay your MTN QwikLoan:
Automatic deduction
- Deposit the amount repayable or more into your MTN Mobile Money wallet before the due date.
- The loan amount will be automatically deducted from your wallet on the due date.
Manual repayment
- Alternatively, you can manually repay your loan at any time by dialing *170#.
- Select the “Repay loan” option on the Qwikloan menu.
Benefits of MTN QwikLoan
MTN QwikLoan offers the following benefits:
No guarantor required
- You can get a loan from your MTN MoMo wallet without needing a guarantor.
Flexible payment options
- The loan provides flexible and convenient payment options.
Stable loan charges
- Loan charges are not affected by inflation or foreign exchange rates.
Personalized loan amount
- You have the freedom to choose any desired loan amount.