Loans and Insurance

12 Best Online Loans in Ghana Without Collateral

Online loan platforms have made it easier to get a loan instantly, with just a click. It has shaded the long queues and waiting days for loans at traditional banks. Online loans in Ghana come handy; providing funds to people who have no property or security to seek funds at the bank

Unlike bank loan and its associated paperwork, online loan lenders offer a quick loan application process with no collateral requirement.

Recently, there have been an upsurge in instant loan apps in Ghana. All you need is a smartphone to download the app, create an account, request the money, and receive your money within minutes.

There are very minimal chances, if at all, that you will be denied a loan through online application or using the mobile app.

I have put together 12 legitimate online loans in Ghana where you can borrow money from without collateral. These apps protect your data, and provides you the best of service.

Below are some of the best online loans in Ghana without collateral:


oze online business loan

Oze SME collaborates with selected fintech to provide collateral free loans to small business.  Download the OZE business app from where you can apply for a credit of up to Gh₵10,000 at an interest rate of 3% per month.

There is an option to repay the credit through instalments for a maximum period of one year. Eligibility for the Oze loan is determined by being an active OZE user for more than one month, but if you are a first time applicant, your request would be reviewed by OZE coaches first before processing.

2. Fido Loan App

Fido money lending app gives it users instant loans upon request. The money lending app requires no collateral for loans however, you must provide details of yourself to authenticate your application.

Once your data is submitted, Fido assess it and the system will determine if you qualify for the amount you requested before disbursing the money.

If the amount you requested is not approved, you may have to ask for a lesser loan amount. Upon approval, Fido will send the money to mobile money wallet.

3. Boseapa Loan App

Boseapa is a mobile application that provides instant loans in Ghana. It is one of the best loan apps that provides hassle free and convenient loans up to Gh₵ 60,000.

They have 24hr customer support with quick loan transferred directly into your bank account. If you face medical emergencies, repairs and maintenance, travel or cash shortfalls, you can apply for Boseapa loan online or through their App.

4. PayLater (Carbon)

online loan in ghana

PayLater brings together private money lenders in Accra, intending to provide smart cash grants to Ghanaians through a mobile application.

The loan registration and application process is simple. You just have to submit your application, and have the money deposited into your mobile wallet.

To receive the loan, you have to create an account through the PayLater App, apply for a grant, and once it is approved, you get your money in less than five minutes. First-time borrowers access Gh₵5 with an interest rate of 5%. This is to test your credibility of bigger loans.

5. Zidisha

Zidisha is a micro-lending community that gives loans to small business owners and individuals. You don’t need collateral for a loan from Zidisha, but to get the grant, you have to download the app, provide an ID and add a few recommendations from friends or family about your creditworthiness.

Loan amounts for first-time members usually range from Gh₵39 to Gh₵2,369, depending on the quality of your application and supporting documents. But you can access a maximum loan of Gh₵78,983. 

Zidisha doesn’t not interest rate on their funds, but you have to pay a service fee of 5% of the loan amount and a onetime membership fee of Gh₵80 to join the crowdfunding community.

6. LendingPapa


LendingPapa is an instant and easy online loan app in Ghana. You have to download and apply through their LendingPapa app, to receive loan between Gh₵1,000 to Gh₵ 5000.

7. MTN Qwick

MTN provides an option for customers to access online loans through its AFB Ghana partnership.

MTN quick loan is only available to customers who you must have undertaken MoMo transactions through their wallets for at least 90 days.

Once you qualify, you can access instant loans of up to Gh₵1,000 at an interest rate is 6.9%, and with no collateral provision.

8. FairMoney Loan App

FairMoney is a Nigerian money lending fintech company that has moved into the Ghanaian market. Its App provides you with quick credit to cater to personal finance, vehicle maintenance, health bills, or any other emergencies.

9. Pezesha

Pezesha is an online money leading platform dedicated to giving business credit of up to Gh₵6,000.

They also provide LPO financing, asset financing, inventory financing and working capital financing. The application form is completely online, and the loan repayment terms is flexible and can be spread over three to twelve months.

10. KiaKia App

KiaKia app is among loan apps in Ghana

KiaKia provides quick, short term loans to the Ghanaian public. You can get access to a loan in minutes without collateral.

The application processes fast and the loan can be repaid within a short time.

11. CashGhana Limited

CashGhana limited is among the best loan apps in Ghana, providing loan in the form of salary advance to employed people in private and public service.

The requirements are simple details, from valid national ID to a letter from your employer’s accounts office. Once you submit your application, money is transferred to your bank account.

12. Bloomkash Money Lending

Bloomkash is a Ghanaian lending company that provides short-term loans via their mobile phones. So, if you have a smartphone and download the Bloomkash app, you can get a loan of up to Gh₵1,000 from Bloomkash.

FAQs on online loans in Ghana

How can I get a collateral-free loan in Ghana?

The best way to get a loan with collateral in Ghana is through mobile applications that only need your personal information.

Where can I get money instantly?

You can money now from online money lenders like Branch, Fido, Boseapa etc. with providing any collateral.

Is FairMoney loan legit?

FairMoney is a legit money lending fintech company which has its presence in Ghana.

How do I get an instant loan in Ghana?

To get an instant loan, you have to download a mobile money lending app which provides instant loans. Fido loan app, FairMoney and KiaKia are examples of online loan providers.

Can anyone get a mobile money loan in Ghana?

Any person of legal age can access mobile money loans using a smartphone.

What is the maximum online loan I can get?

Zidisha gives online loans up to Gh₵78,983 in Ghana. Most money lending apps increase their loan offers based on clients’ repayment time and credibility.

Is there a limit for mobile money loans?

Yes, new borrowers are usually subjected to low limits, which grow based on your history of repayment.

Can I get a mobile money loan in Ghana without paying the first loan?

No, once you have been given a credit, you have to complete paying it before being given another

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