The best Online MoMo Loans you can take in Ghana without any collateral

Acquiring loans in Ghana can be very difficult irrespective of the purpose for which the loan is being acquired.

If not for some annoying up and downs by the company involved, then it’s their processing time or processing fee.

For most people, however, the main reason they are unable to access loan facilities is the provision of collateral.

Collateral can be a very big issue in the process of acquiring a loan since most major loan companies only consider landed property and vehicle as collateral – which most people don’t have.

So, in this article, I will take you through a list of online loans in Ghana which operate without collateral.

Zidisha Loans

Talk of loans without collateral and Zidisha would be the first on the list everywhere. With loans up to 50,000 cedis, Zidisha does not require any form of collateral from applicants.

Zidisha Loans is a peer to peer loan company which operates via the internet.

Zidisha provides the platform for individuals to raise capital for their projects and businesses via the internet, from other individuals who are willing to lend money to entrepreneurs who are in dire need of it.

With such a huge amount of money, the only things Zidisha require include your business objective, your target market, your repayment plan and a compulsory 40 cedis payment for loan processing.

You can find out more about them via their website:

Fido Loans

With a mobile application which allows users to apply for loans and receive loans via their mobile money wallet, Fido loans operate on trust. There is no need for applicants to show proof of any collateral in order to acquire Fido loans.

The only documents required for a loan with Fido include an ID card, residential details and your employment details which are used in the registration process.

If you are deemed to qualify for the loan amount you requested, you shall receive the amount in a few moments via your mobile wallet.

For individuals hoping to take loans of higher amounts, they have to take lower amounts of loan and repay them on time in order to build a credit history with the company to qualify for bigger loans.

Download the app on the Google playstore via

Carbon (Formerly Paylater Ghana)

Pay later or Carbon is one of the finest online loan companies in Ghana. The company gives out loans to individuals from all economic and social categories.

With Carbon, all loan requests, processes and payments are done via their android platform mobile app.

You can borrow from as low as 5 cedis to as high as 1,000 cedis without the need to provide a collateral.

All that is required of you as a loan applicant is your bio-data, your photograph, information about your employment and the loan amount you want.

Once your loan has been reviewed and you pass the review process, your money is sent via the mobile wallet you applied with.

Interestingly, there is no extra charge if you fail to meet your repayment deadline. The only punishment is that you may not get a loan from them the next time you are in need.

Get their app today on the Google Playstore via

MTN Qwikloans

This loan service is one of the most popular loans services available currently however, it is only available to customers who own MTN Mobile Money wallets.

With this loan, you can get u to 1,000 cedis worth of loan through your MTN mobile money wallet within 5 minutes.

You only need to be an active MTN mobile money user who buys airtime and data from your wallet and also sends and receives money through the same wallet over the past 6 months.

Once you qualify for this offer, you do not need to show any collateral since everything is done via a USSD code which can even be accessed on your feature phone ‘Yam’.


As we continue to live, our desires, needs and wants continue to grow and at a point, it becomes necessary that we seek financial assistance to be able to keep up with these.

One sure way to get financial assistance is by approaching loan companies. Unfortunately, most loan companies require collateral from applicants before they are granted these loans.

This is not only frustrating but also annoying since most times, the collateral bit comes at the bottom end of the processes.

To avoid such trauma, I compiled this list of companies that give out loans without collateral in Ghana.

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