Online Payday Loan in Ghana: What You Need To Know
Wondering where to get a loan before your next paycheck? Well, it is easier to access payday loan online in Ghana.
Life has become difficult for some people in our economy today and it disheartening to see and hear people fail to meet their pressing needs financially and on time.
That is why I have come your way with the payday loans in Ghana to help you acquire a loan and understand all you need to know about the payday loan.
Payday loans in Ghana comes with flexible repayment terms at affordable interests. You don’t need to visit a bank to complete the application process; all you need is your smartphone and you are good to go.
What Is A Payday Loan?
A payday loan is a type of short-term borrowing where a lender will extend interest credit based on your income and does not require any collateral. The payday loan is for salaried workers.
The payday loan amount is deducted when your salary hits your account. Hence, this financial relief (payday loan) is best suitable for people who need money to cater for a pressing need.
Who Can Access a Payday Loan?
Payday loan in Ghana is only available to salaried workers. The lenders use this condition to eliminate the risk of non-payment by the borrowers.
Benefits of Payday Loan
You may need a payday loan for any or all of the following reasons;
- You get it instantly on your mobile phone.
- No collateral is required.
- You can apply with your mobile phone without having to go to the bank.
- Enough to cover for short term expenses.
Which offers Payday Loan in Ghana?
The banks below give out instant payday loans to salaried workers in Ghana;
GT QuickCredit
GT Bank offers payday loan (Payday Credit) employed and unemployed individuals who need instant cash to pay for emergencies.
If you’re a salaried worker with an account with the bank, you can borrow up to 100% of your monthly salary at a meagre 18% interest rate per annum, with a flexible 12 months repayment period.
Follow these steps to apply for payday loan at GT Bank;
- Dial *737*0#
- Select option 1 (Payday Credit)
- Agree to Terms and Conditions
- Enter amount to borrow
- Enter Tenure (up to 12 months)
- Enter your PIN to confirm transaction
Access Bank Payday Loan
You can apply for payday loan via the Access Bank website without having to visit the bank. It is collateral free with super cool interest rates.
If you are a new customer at Access bank, it takes at least one month and evidence of salary repayment from previous bank to qualify for the loan.
You can access another payday loan even if you haven’t finished paying an existing loan. This loan cannot exceed 40% of your monthly salary.
Follow these steps to apply for Payday loan at Access Bank;
- Dial *901*11# on your phone
- Select option 1 (payday loan)
- And follow the steps to apply.
Cash Ghana Limited
Cash Ghana Limited also provide payday loan to salaried individuals who maybe interested. The loan is to help the individuals cover for emergencies such as health cost, repairs, maintenance, etc.
You can get approved for a payday loan or cash advance the same day you process the loan, at credibly low interest rate.
Other Helpful Links;
Get fast online mobile money loans
Where to get emergency loan online
The True Cedi App: Get instant loan online
Get loan on the Branch Loan App