How to use MTN QwikLoan to Get Up To GHS 1000 Under 1 Minute
Want a loan in Ghana? MTN Qwikloan got you covered. In under 1 minute you can get up to GHS 1000 using your MTN Momo platform.
MTN Qwikloan provides fast and convenient lending services, aside that no collateral or lengthy approval processes is required.
Simply dial *170#, follow some few prompts and get your hands on your cash today. Follow this article to get your way with MTN Qwikloan now!
How to Qualify for MTN Qwikloan
If you want to qualify for MTN Qwikloan, there are certain requirements you should meet. Read below to find out if you qualify:
- You must 18 years or older.
- You must be an active MTN subscriber for more than 90 days.
- Your MTN Mobile Money wallet must be actively used for transactions such as sending and receiving money, purchasing airtime, and paying bills.
- You must not have any outstanding loan amounts to pay.
If your application is denied, it may be because you don’t fall under the stated requirements.
Apply for MTN Qwikloan Today
Simply dial *170# and follow the below steps to apply for MTN Qwikloan:
- Choose option 5 “Financial services.”
- Next, choose option 3 for ‘Loans’
- Select Qwikloan.
- Choose ‘Get a Loan’ from options labeled.
- Enter your Momo PIN.
- Choose your desired loan amount.
- Finally, accept all term and conditions to get your loan.
That’s it, your loan amount will be deposited into your account instantly with an SMS notification.
How to Repay your MTN Qwikloan
If you are ready to repay your MTN Qwikloan, simply dial *170# and follow the below steps:
- Choose option 5 “Financial services.”
- Next, choose option 3 for ‘Loans’
- Select Qwikloan.
- Choose ‘Repay my loan’ from options labeled.
- Enter your Momo PIN.
- Finally, choose option 1 to “Repay own amount” or option 2 or “Repay full loan balance.”
Deductions will be made from your Momo account depending on the loan amount chosen. Remember there are interest rates to MTN Qwikloan and deductions will be made plus the actual loan amount. Keep reading to learn more about Qwikloan’s interest rates.
Tips to Increase your MTN Qwikloan Limit
To increase your MTN Qwikloan limit in Ghana, here are 3 top tips:
Repay loan on Time: Repaying your loan on time is a key tip to improve your credit score with MTN and potentially increase your loan limit. Did you know you can pay and borrow MTN Qwikloan on the same day? Repaying your loan on time shows that you are trustworthy to Qwikloan and with a high loan amount, you will always repay on time.
Actively use MTN Mobile Money: Always use your MTN Mobile Money for your transactions. One tip is to receive your monthly salary through your Momo account. This will provide assurance to the service provider and may lead to a higher loan limit.
Increase Your Network Usage: Always use MTN’s network services such as voice calls, data usage, and mobile money transactions. A higher level of engagement with MTN’s services will lead to an increased Qwikloan limit.
MTN Qwikloan Interest Rates Explained
As mentioned earlier in the article, there are interest rates to MTN Qwikloan. Is beneficial to familiarize yourself with the terms and conditions of the loan offer before you apply.
Here are key points to note about MTN Qwikloan interest rates:
Here are the points neatly rewritten:
- The interest rate for MTN Qwikloan is 6.9%.
- The interest is calculated based on the loan amount and is due along with the loan repayment.
- The interest rate remains fixed throughout the loan tenure.
- If the loan is not repaid on time, additional charges and penalties may be applied.
Now you know why considering the interest rates is important, so is advised to understand the total cost of the loan and have a clear plan for repayment to avoid any financial difficulties.
Conclusion
Now you have it! with these simple steps, you now have access to GHS 1000 MTN Qwikloan. No collateral or lengthy approval processes is required.
Simply dial *170#, see if you qualify for the loan, and have your day at ease.
