Mobile Money Loans In Ghana: Here is a complete guide to get Loans from mobile money straight into your mobiles money wallet instantly.

Mobile Money Loans In Ghana

MTN Qwik Loan

As usual, you must be a subscriber to MTN’s mobile money services before continuing with the loan application because it can only be granted using the service.

  • Dial * 170 #
  • Select option 5 which is a Financial Services PIC
  • Select Option 3 for Checkout
  • Select option 1 to register for the loan
  • Enter your mobile money PIN to confirm
  • Wait for confirmation
  • You will receive an SMS once your application is approved.

That’s it, you have successfully secured the loan. Now you can withdraw money from an MTN Mobile merchant or you can withdraw money from your mobile phone from an ATM. But make sure you pay your outstanding amounts in time and stand a chance to get more from MTN.

Fido loan

Another way to get a mobile cash loan in Ghana is through the FIDO Lending Corporation. FIDO Money Lending Limited (FIDO) is a financial institution based in Accra, and authorized by the Bank of Ghana.

The foundation offers quick and easy short-term loans, called FIDO loans, to its clients. To access the loan, you will need to go through a one-time verification of identity and a Mobile Money account.

Just like the MTN MoMo Qwik Loan, FIDO also does not require collateral or guarantors before granting you the loan.

How does a Fido loan work?

  • Download Fido application On Google Play Store for free
  • Apply by filling out the loan application in the application
  • Receive your money instantly
  • Pay on time and get more for your next loan

Note: You can receive up to 200 GHS on your first loan application. Once you pay on time, you can unlock the initial limit and can now apply for up to 600 GHS.

Smart Cash

As mentioned earlier, the MTN Qwik Loan was in partnership with an FB Financial Institution providing the loan to its subscribers. A smart cash loan is another type of loan provided by an FB company. This financial institution was established in 2010 and since then, it has grown to cover a large portion of Ghana’s financial sector. They offer various types of loans including Qwik loan, Smartcash loan, and Payroll loan.

Smart cash is a short-term loan of up to 30 days, with easy-to-understand terms. Applicants can receive cash within 24 hours of the application, and this loan also does not require a security, guarantee, or bank account. The cash is paid directly to your mobile phone account or you can visit any branch nationwide to obtain the loan. Visit their home page for more information and also to get the application portal.

MTN XpressLoan

Xpress Loan is a borrowing or credit service on the MTN Mobile Money platform that allows regular MoMo subscribers to access a loan / credit facility through their mobile phone in a few minutes.

Existing MTN customers can use the Loan Service to obtain loans. There is no need for savings or paperwork and the funds are sent directly to the subscriber / applicant’s MoMo account.

How to borrow money from MTN XpressLoan

To borrow money from XpressLoan, follow these steps on your phone:

  1. Dial * 170 #
  2. Enter Option 5 (Financial Services)
  3. Enter Option 3 (Credits)
  4. Enter Option 2 (XpressLoan)
  5. Enter option 1 (Get a loan)
  6. Enter your Mobile Money PIN and hit Submit
  7. Enter the first option (View demos)
  8. Enter the option for your preferred amount (there are usually options available between GHS 50 and GHS 1000)
  9. Enter option 1 to confirm your payment plan


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