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How To Apply For Vodafone Cash Ready Loan

Are you in need of a quick loan in your Vodafone Cash wallet in just a few minutes? If you do, then this article is going to show you how to apply for Vodafone Cash Ready Loan. In addition, I am also going to show you everything you need to know about the Vodafone Cash loan.

Obtaining a loan in Ghana at this time is very easy, quick, and free. Due to the high number of banks and credit institutions, people who are looking to get a loan in Ghana have several alternatives to choose from.

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But almost all these banks and credit institutions have their own requirements and interest rates they require from each borrower. One of the main requirements that people are usually scared about is collateral, which is usually in the form of a car, land, house, or any valuable property they can sell to get back the money should you fail to pay the money on time.

All these issues are somehow resolved when it comes to online digital lending platforms like the Vodafone Cash Ready Loan.

In this Article:

What is Vodafone Cash Ready Loan?

Vodafone Cash Ready Loan is a quick, easy, and convenient method by which very active customers of Vodafone Cash can access low-interest loans using the Vodafone Cash wallet. Unlike the traditional methods of acquiring loans, Vodafone Ready Loan does not require you to bring any bank statement or collateral.

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Ready Loan was established by Vodafone Cash in collaboration with Consolidated Bank Ghana (CBG) to help Vodafone Cash users with quick financial assistance on their mobile phones. The least amount you could get is GHS 10.00, but the maximum amount is not known yet.

Requirements for Vodafone Cash Ready Loan

Before you can be offered a Vodafone Cash Ready Loan, you must meet the following requirements:

  • You need to be 18 years and above.
  • You need to be an active Vodafone user.
  • You have to be registered on Vodafone Cash and actively use your wallet for transactions, i.e., sending money, receiving money, buying airtime, paying bills, etc.
  • You must repay your already existing loan before you can apply for a new one (if it applies to you).

How To Apply For Vodafone Cash Ready Loan

  1. Dial *110# on your Vodafone mobile device
  2. Choose option 5 (Financial Services) from the options
  3. Choose option 3 (Loans) to access the Loans option
  4. Choose option 1 for Ready Loan
  5. Select option 2 (Ready Loan Request)
  6. Select option 1 to opt-in
  7. Enter your four-digit Vodafone Cash PIN to confirm that you understand all the terms and conditions relating to Vodafone Cash Ready Loan and Consolidated Bank Ghana (CBG).
  8. If you qualify, a confirmation message will be shown in the next window. If you do not qualify, a message will be shown asking you to perform more transactions with your Vodafone Cash wallet.
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Afterward, a confirmation message will be sent to you via SMS to show you the amount, the repayment date, and the amount you are supposed to repay on the due date (30 days after the day of borrowing).

How To Repay Your Vodafone Ready Loan

Before you begin, make sure you have enough money in your Vodafone Cash wallet to repay your loan. If not, visit the nearest Vodafone Cash vendor to deposit money into your account for free.

  1. Dial *110# on your Vodafone mobile device
  2. Choose option 5 (Financial Services) from the options
  3. Choose option 3 (Loans) to access the Loans option
  4. Choose option 1 for Ready Loan
  5. Select option 4 (Ready Loan Repayment)
  6. Enter your four-digit Vodafone Cash PIN to proceed
  7. Follow the remaining steps to complete your payment.

What Happens When You Fail to Repay Your Vodafone Cash Ready Loan on Time?

Your Ready Loan repayment is fixed for 30 days; however, you can always make payments before the due date. If you fail to repay the loan on the due date, a late payment charge will be applied, and your information submitted to credit-related institutions and blacklisted.

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Therefore, it is advisable to pay the loan on time to avoid paying extra charges and also to increase your chances of attracting higher loans in the near future.

Conclusion

The Vodafone Cash Ready Loan is a good initiative from Vodafone and Consolidated Bank Ghana (CBG) to help Vodafone Cash users. Its introduction is going to help a lot of people to get loans in the comfort of their loans.

Before you decide to apply for the loan, make sure to read and understand the terms and conditions involved in it to avoid any future regrets.

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