Online Loans in Ghana Without Collateral 2023 [Unsecured Loan Apps]
In Ghana, accessing loans has always been a challenge for individuals, especially those without collateral. Traditional lending institutions such as banks and credit unions require collateral, making it difficult for many Ghanaians to access credit. However, with the advent of technology, online lenders have emerged, offering loans without collateral to individuals in Ghana. In this blog, we will explore online loans in Ghana without collateral, their benefits, and how to access them.

What are online loans in Ghana without collateral?
Online loans in Ghana without collateral are loans that are provided by online lending institutions to individuals without the need for collateral. These loans are often referred to as unsecured loans because they do not require the borrower to pledge any asset as collateral.
Instead, the borrower’s creditworthiness is assessed based on their income, credit history, and other factors.
Top 5 Apps for online loans in Ghana without collateral
1. Fido Money Lending
Fido Money Lending is a popular online lender in Ghana that offers unsecured loans without collateral. The company provides loans of up to GHS 2,000 with a repayment period of up to 90 days.
Fido Money Lending is a legitimate online lender that is registered and regulated by the Bank of Ghana. The company has many positive reviews on the Google Play Store and the App Store, with many users praising its quick loan disbursement and excellent customer service.
2. Renmoney
Renmoney is a fintech company that offers personal loans of up to GHS 15,000 with a repayment period of up to 24 months. Renmoney is a legitimate fintech company that operates in Ghana, Nigeria, and other African countries.
The company is licensed by the Central Bank of Nigeria and is a member of the Credit Bureau Association of Nigeria. Renmoney has positive reviews on its website, with many users commending its professionalism and transparency.
3. Aella Credit
Aella Credit is an online lender that provides loans to individuals in Ghana without collateral. The company offers personal loans of up to GHS 10,000 with a repayment period of up to 4 months.
Aella Credit is a trusted and verified online lender that operates in Ghana, Nigeria, and the Philippines. The company is registered with the Corporate Affairs Commission in Nigeria and is licensed by the Central Bank of Nigeria. Aella Credit has hundreds of positive reviews on both the Google Play Store and the App Store, with many users praising its fast loan processing and excellent customer service.
4. Paylater
Paylater is a digital lender that provides online loans in Ghana without collateral. The company offers personal loans of up to GHS 15,000 with a repayment period of up to 12 months.
Paylater is a legitimate digital lender that operates in Nigeria and Ghana. The company is registered with the Corporate Affairs Commission in Nigeria and is licensed by the Central Bank of Nigeria. Paylater has positive reviews on both the Google Play Store and the App Store, with many users commending its fast loan processing and easy repayment options.
5. MTN Qwikloan
MTN Qwikloan is a mobile money service that provides online loans in Ghana. The service is available to MTN Mobile Money subscribers, and borrowers can access loans of up to GHS 1,000 with a repayment period of up to 30 days. Borrowers can apply for loans by dialing *170#, selecting option 5, and following the prompts.
It is a 100% legitimate mobile money service that operates in Ghana. The service is provided by MTN Ghana, which is a subsidiary of the MTN Group, a multinational telecommunications company. It has positive reviews on the internet, with many users praising its convenience and simplicity.
Note: While these online lending platforms are legitimate and have positive reviews, it is still important to carefully review the terms and conditions of any loan before applying. Make sure you understand the interest rates, fees, and repayment terms before accepting a loan offer.
How to access online loans in Ghana without collateral?
- Research lenders: The first step in accessing online loans in Ghana without collateral is to research lenders. Look for reputable lenders that offer loans at reasonable interest rates.
- Check eligibility: Once you have identified a lender, check their eligibility requirements to ensure that you meet them. Most lenders require borrowers to be over 18 years, have a valid ID card, and have a regular source of income.
- Apply for a loan: After confirming your eligibility, apply for a loan through the lender’s online platform. Fill in the loan application form, providing accurate information about your income, expenses, and other details.
- Wait for approval: After submitting your loan application, wait for the lender to approve it. This process usually takes a few minutes or hours.
- Receive funds: Once your loan is approved, the lender will disburse funds to your bank account. The time it takes for funds to be disbursed varies between lenders.
Conclusion
Online loans in Ghana without collateral have revolutionized the lending industry, making it easier for individuals to access credit. These loans are quick and easy to access, and borrowers do not need to provide any collateral. Visit ThinkMoneyTrader for more financial bytes like this.