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MTN Quick Loan, How To Apply And Receive Ghc1000



MTN Quick Loan, How To Apply And Receive Ghc1000

MTN Quickloan application and qualification from MTN, Ghana’s biggest telecommunication.

What are the steps to follow to get a quick loan from MTN and to pay it back?

After MTN Mobile Money, the telco operators have coupled it with MTN Quick loan [ which is most pronounced Qwikloan ] which helps qualified customers to apply for the cash and pay later.

What makes MTN’s quick loan scheme much patronize is the fact that they don’t request collaterals, as in properties such as land and houses whiles their competitors go higher always require for those.

With the tall list of lending firms competing with MTN every day for service to get their share of the market, MTN can only improve upon its previous and to keep their customers and that they have done well so far.


MTN quick loan ( qwikloan ) doesn’t require collateral and guarantors, you can take up to ghc 1000 at a time just via your mobile money wallet from MTN. This service is an exclusive one only available for MTN users at this time ( though Vodafone has started theirs but has yet to gain ground).


With MTN Qwikloan, if you are qualified for it, you are just a few clicks away from getting money in your wallet.

Now, this is how to apply for a loan.

  • 1. Dial *170# on your phone
  • Choose the 5th option – financial services
  • Choose the 3rd option – loans
  • Choose the 1st option – qwikloan
  • Choose the 1st option again – request a loan
  • You will be required to choose the amount you needed and
  •  choose your repayment plan and then,
  • Your 4 PIN code to confirm.

If you are qualified, your loan request will be approved in less than 5 minutes via SMS with loan amount and an interest rate of 6.9%, and the due date for repayment.


Below are the things MTN considers before giving out a loan.

  • You must be 18+ per your details on the registered SIM card you are doing for the application.
  • You must be an MTN user for more than 90 days ( 3 months ) with transacting with your momo wallet in terms of money transfer, buying airtime, and data.
  • You are not supposed to be owing MTN any outstanding loan or airtime
  • Also, frequent use of the momo wallet facilitates your qualification.


This repayment plan includes an interest rate of 6.9% of the money you were loaned. And as stated earlier MTN expects you to make available the main capital and the fee after 30 days. Failure to do this may incur future charges as a penalty. This is how to pay the MTN QUICK LOAN;

  • Deposit the amount reputable plus the charge in your MOMO wallet before the payment date ( 30 days ) and MTN will carry out the teat by deducting and alerting you through SMS.
  • You can also dial *170# and follow by selecting repay qwikloan option on the qwikloan menu.

Note: The quicker you pay, the higher your chances of getting another loan from MTN. This means if you fail to pay on time, MTN may refuse your future request or reduce your amount.

Thanks for reading, if found informative enough, give it a share.


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