MTN offers fast loan through a mobile money platform



MTN Ghana, in partnership with Afb GHANA, launched the “Qwikloan” service to provide convenience to customers when needed to improve their business.

The service, dubbed “Qwikloan” is fast, easy and convenient, allowing customers to access loans using their MTN mobile money platform.

Mr. Eli Hini, Managing Director of Mobile Money Limited, speaking at the event said with Qwikloan, customers do not have to go through the bustle to provide proof of collateral in order to access the loan.

He said Qwikloan was an instant way to access a cash loan, anytime and for any purpose from his cell phone, claiming that customers can access a loan of up to GH1,000. ¢.

“All you have to do is use the MTN Mobile Money wallet more frequently and also commit to paying off your loans on time so you can access more loans.

MTN customers just need to dial * 170 # and choose option 6 to access Qwikloan, ”he said.

He said that clients can only access this loan if; they frequently performed Mobile Money transactions by sending and receiving money, buying airtime, paying bills, and more.

According to him, if the activity of his MTN Mobile Money wallet is too low or if the customer has not used the wallet at all, he or she may not be able to qualify for a Qwikloan.

Using a single MTN SIM card for all airtime and mobile money activities is very necessary when it comes to the Qwikoan, he said.

He said that in order to access the loan, the customer must be over 18, have been an MTN customer for more than 90 days, and simply deposit money into their MTN Mobile Money wallet before the due date to repay the loan. .

The loan amount would automatically be deducted from the portfolio.

Further, he added that clients can only have one active Qwikloan at a time, but once the loan has been repaid they can apply for another loan, saying “There are limits to the number of loans that a customer can take out in a day or a week, so you may have to wait a few days before taking out another loan after paying off.

Qwikloan is a 30 day loan. After 30 days, the loan is repaid in one amount at a rate of 6.9% and he does not need a bank account to access it.

“You can pay off your loan manually at any time, by selecting the Pay Off Loan option from the Qwikloan menu,” he said.

He said MTN will continue to find ways to bring innovative products and services to its dear customers in their quest to promote a cashless economy.

He also advised customers to protect their Mobile Money wallet by ensuring that they do not disclose their PIN, receive calls or messages regarding their Mobile Money accounts, and also do not give their phones away. that mobile money transactions are carried out on their behalf.

This, he said, would help their fraud awareness campaign.

Mr. Arnold Parker, Managing Director Afb Ghana, welcomed the partnership between the two institutions.

He said the service would allow them to grow and provide financial inclusion to over a million informal sector clients, adding that “we trust Ghanaians and have given them loans, we believe they are. ‘they will pay back on time “.

Ms Clarissa Kudowor, deputy director of the Payment Systems Bank of Ghana, said she has approved the product, but urged customers to feel free and report any dissatisfaction they encounter with the service.

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