Through the mobile service, MTN Ghana has made it possible for its customers to take loans and repay later.
This is possible through the MTN qwikloan service. Let s get to know what the Xpressloan is and how you can use it to get huge loans.
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What Is MTN Xpressloan?
This a credit service offered by MTN Ghana on their MTN mobile money platform. This allows regular Momo subscribers to get access to loans by using their mobile phones.
It is very similar to the other loan services that are available on MTN mobile money platform.
If you are an MTN customer, you can use the Xpressloan service to access loans from MTN within a few minutes.
There is no need to provide any paperwork or any collateral. After you qualify for a loan and you request it, the load is then sent to your mobile money wallet instantly.
How To Qualify For The MTN Xpressloan
In order to qualify to be able to access an Xpresloan, you must be someone who recharged his airtime account frequently.
You must also make sure that you use your mobile money account to send and receive money frequently.
You must also make sure that you always repay the loans that you from the other loan services on time since MTN checks how long you take to repay a loan and this can have an effect on how often you get approved to take loans.
Also, the charges on the loans that you take are not fixed to a particular amount. Due to this, you must read the instructions very well before you go ahead with the loan.
The fees that you will be paying on the loans will also be shown during the loan application process.
How To Request For MTN Xpressloan
To request a loan from the Xpressloan service, please follow the steps below.
- Go to your dialer and dial *170#
- Choose option 5 for financial services
- Choose option 3 for loans
- Choose option 2 for Xpressloan
- Choose option 1 to request a loan
- Input your mobile money PIN
- Choose option 1 to view loan offers available
- Choose the amount you need from what you see listed
- Enter 1 to confirm the repayment plan that will come next
Repaying MTN Xpressloan
MTN will automatically the loan from any amount that gets sent to your mobile money account. However, if you feel like paying before the time is up, follow the steps below to do so.
- Dial *170# to access the mobile money menu
- Choose option 5 for financial services
- Choose option 3 for loans
- Choose option 2 for Xpressloan
- Choose option 2 for repaying loans
- Input your mobile money PIN
- Choose the amount that you are willing to payback
The loan amount will then be deducted from your wallet
Getting Bigger Loans From MTN
You can get bigger loans from the Xpessloans service as well as all other loan services on the MTN mobile money platform. To get the bigger loans, follow the steps below.
- Make sure that you pay the loans that you take right on time
- Use your mobile money account frequently. Also, make sure to leave some amount of money in the account at all times. Do not all the money all the time
- Keep your MTN line active all the as well and try to make as many calls as possible. If you do not have anything to say, just let the call run and watch a movie. Also, make sure to use your MTN line to receive more calls as well
Conclusion
All the steps just listed will help you to be eligible to receive bigger loans from MTN Xpressloan. You can get up to GHS 1000 worth of loans if you adhere to this article and play safe.
You can also check out our recent articles on the various Vodafone Ghana packages, how to check your Vodafone number, and ways to get loans in Ghana.
