Olaide WaheedShort term loans are termed as such because they are meant to be paid back within a year from the time it is obtained. The loan involves lower borrowed amounts that are suitable for individuals and businesses that are not eligible for credit lines in banks.
Short term loans in Ghana can be gotten from financial institutions like Smartcash, Mtn Qwik Loan, Access Bank PayDay Loan, Bayport Ghana, Blue Financial Servies, Stanbic Bank, Standard Chartered Bank, Fidelity Bank, First Merchant Bank, Fido Micro, SRF Micro Credit, etc.
There are many advantages surrounding short term loans in Ghana and they include the quick funding time, ease in acquiring, lower interest, etc. List of Financial Institutions offering short term loans in Ghana and their requirements are listed below.
List Of Short Term Loans In Ghana
1. Smartcash
Requirements
- You must be subscribed as a smart cash user
- Visit their homepage to apply
2. MTN Qwik Loan
Requirements
- You must be an MTN mobile money subscriber
- Register for the loan
3. Access Bank Payday Loan
Requirements
- Dial *901*11# on any mobile phone
4. Bayport Ghana
Requirements
- You must be working with an organization that has partnered with Bayport
- Recent payslip
- National ID card
- Two passport sized-photographs
- Bank statement showing evidence of your income
5. Stanbic Bank Ghana
Requirements
- You must be between the ages of 21-60 years
- Completely fill the application form
- The organization you work for must be profited by Stanbic Bank
- You must be in paid employment for the last six months
- You must be a resident of Ghana
- Pay slips from the last three months
- Valid means of identification
- Recent utility bill
- Letter of employer’s consent
6. Standard Chartered Ghana
Requirements
- Valid National ID
- Copy of bank statements for the last three months
- Completely filled application form
- You must be in paid employment
- Your organization must have signed a scheme agreement to salaried employees
- Recent payslip
- Letter of undertaking
7. Blue Financial Services
Requirements
- You must be in paid employment either as a government worker or employee in a private company
- Your company must have partnered with Blue.
- Valid means of identification
- Bank statements
- Copy of recent pay slip
- Proof of residential address
- Two passport-sized photographs of yourself
- Employer’s consent
8. Fidelity Bank
Requirements
- You must be a resident of Ghana
- You must be a salaried worker
- Valid means of Identification
- Residential details
- Proof of residential details
- Two referees ( Relative/Non-relative)
- Employer’s consent
9. First National Bank Ghana
Requirements
- Valid means of Identification
- Residential details
- Employment details
- Good credit record
- You must have a stable source of income
10. Fido Micro Credit
Requirements
- Download the Fido app on Google Play Store
- Completely fill the application form
- Valid means of identification (National ID card/Driver’s license/Voter’s card/NHIS)
- Residential details
- You must be a resident in Ghana
- You must have registered an MTN mobile money or AirtelTigo money in your name for 8 weeks
11. SRF Micro Credit
Requirements
- Copy of a valid ID
- A copy of the letter of employment
- Pay slips for the last three months
- Copy of bank statements for the last three months
- A guarantor
- Valid ID of the guarantor
- Copy of pay slip or bank statement of guarantor for the last three months
- The applicant will be required to show his/her workplace to SRF
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Tag: Financial Institutions Offering Short Term Loans In Ghana