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HomeTech In GhanaHow To Get A Loan Of Over GHS 1000 Through MTN Xpressloan

How To Get A Loan Of Over GHS 1000 Through MTN Xpressloan

Did you know that with MTN Ghana’s mobile service, you can now get loans and pay them back later? It’s all thanks to the fantastic MTN Qwikloan service.

Now, let’s dive into what the Xpressloan is all about and how you can use it to snag some big loans. Ready? Let’s go!

What Is MTN Xpressloan?

This service represents a credit offering provided by MTN Ghana through its MTN Mobile Money platform.

It empowers regular Mobile Money subscribers to secure loans conveniently using their mobile devices.

Xpressloan, akin to other loan services on the MTN Mobile Money platform, enables MTN customers to swiftly access loans within a few minutes.

Notably, this service eliminates the requirement for extensive paperwork or collateral. Once eligibility for a loan is established and a request is made, the approved loan amount is promptly transferred to the user’s Mobile Money wallet.

How To Qualify For The MTN Xpressloan

To qualify for access to an Xpressloan, it is imperative that you demonstrate consistent activity in recharging your airtime account.

Additionally, regular usage of your Mobile Money account for both sending and receiving transactions is essential.

Maintaining a timely repayment record for loans obtained through other services is crucial, as MTN evaluates the promptness of loan repayments.

This evaluation significantly influences the frequency of loan approvals.

It’s noteworthy that the charges associated with these loans are not fixed, and therefore, careful attention to the provided instructions is essential before proceeding with the loan application.

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During the application process, the applicable fees for the loans will be explicitly presented, providing transparency in the financial transaction.

Ensure thorough comprehension of these details to make informed decisions.

How To Request For MTN Xpressloan   

To request a loan from the Xpressloan service, please follow the steps below.

  1. Go to your dialer and dial *170#
  2. Choose option 5 for financial services
  3. Choose option 3 for loans
  4. Choose option 2 for Xpressloan
  5. Choose option 1 to request a loan
  6. Input your mobile money PIN
  7. Choose option 1 to view loan offers available
  8. Choose the amount you need from what you see listed  
  9. 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.

  1. Dial *170# to access the mobile money menu
  2. Choose option 5 for financial services
  3. Choose option 3 for loans
  4. Choose option 2 for Xpressloan
  5. Choose option 2 for repaying loans
  6. Input your mobile money PIN
  7. Choose the amount that you are willing to pay back

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
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Conclusion

Adhering to the outlined steps in this article is instrumental in enhancing your eligibility to receive more substantial loans through MTN Xpressloan.

By consistently recharging your airtime, actively utilizing your Mobile Money account for transactions, and ensuring timely repayment of loans from other services, you create a favorable profile for loan approvals.

Following these guidelines responsibly can potentially qualify you for loans of up to GHS 1000 through MTN Xpressloan.

It’s crucial to approach the process prudently, adhering to the recommended practices to maximize your loan eligibility while maintaining financial prudence.

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.

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