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How to borrow from MTN QwikLoan

Are you an active MTN mobile money user in need of some quick cash to solve an urgent need? Getting an instant loan in Ghana in this day is much easier. Currently, the high number of micro-finance firms accompanied by other lending associations is puzzling.

In fact, they are all buzzing like bees in promoting themselves, with the hopes of luring needy borrowers.

This is not to mention the online lending firms, which are sprouting on a daily basis trying to get a slice of the market’s pie.

Today, we focus on MTN’s QwikLoan lending service that lets you get a loan via MTN Mobile Money.

QWIKLOAN is a short term cash loan disbursed and repaid with your MTN mobile money wallet. Once you receive an SMS confirming your eligibility, you can follow the steps below to instantly receive your loan:

  1. Dial the short code *170# on your MTN Handset
  2. Choose option 5 to access Financial Services option
  3. Choose option 3 for loans
  4. Choose option 1 for Qwikloan
  5. Choose option 1 for Request Loan
  6. Choose your loan amount
  7. Confirm your repayment plan (Number of days to payback)
  8. On the next screen, enter your secret Mobile Money Pin to finalize the process

Your loan request will be approved instantly and an SMS will be sent to you confirming the cash sent to your MoMo wallet.

If you are able to repay the loan on time with the 6.9% interest rate, you will be given a higher amount in your subsequent request.


Written by Frank Amofa


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