Online loans in Ghana without collateral


List of online loans in Ghana without collateral, interest rate, threshold, etc.

Online loans in Ghana without collateral – One cannot deny the fact that at some point you need additional funds to either support or execute a business idea or for personal effect.

Whichever side of the divide puts you at the edge, I am going to show you how you can go about sourcing funds in Ghana without going to friends or relatives.

Sourcing funds from associates may be a good idea but not really the best, most often it doesn’t work out fine and given circumstances around it I will discourage you strongly from taking such alternative.

What makes what I am going to show you interesting and endearing is that you do not need collateral to access such loans, no mountain of paper of works, loans are disbursed within the shortest time frame ever, with interest rates you can’t afford to ignore.

I’ll be telling you about online loans in Ghana without collateral, yes you read me right, against the backdrop of usual practice with the deposit money banks and related financial institutions in Ghana.

You cannot secure a loan without collateral but the situation has been defeated today with the arrival of online loans in Ghana without collateral.

However, the bank/financial system works on the principle of secured and unsecured loans.

Today, I’ll be showing you nine companies in Ghana where you can get a loan online without collateral.

1. Fido loan

Fido loan is a financial/credit institution based in Accra Ghana, licensed to carry out financial services by the Bank of Ghana. With Fido, you can access fast and easy short-term loans popularly known as Fido loans.

Customers who wish to access the Fido loan will have to download and apply through its app, then wait to receive decisions on their loan application.

Who can access Fido loans?

  • The artisans
  • Micro entrepreneurs
  • SMEs looking to grow their businesses


A one-time verification of your ID and mobile money/bank account is required, thereafter your loan would be disbursed in full. You do not need collateral or guarantor to access this loan.

How to apply and receive the Fido loan

The application and disbursement processes are quite easy

  • Kindly download and install the Fido loan app on Google Play store both for An droid and IOS
  • Sign up and apply for a loan by filling the loan application form on the app
  • Upon verification of your details (ID and mobile money account) your loan amount will be disbursed in minutes

Note: As a first time user of Fido loan app you are entitled to a loan threshold of 200 GHS.

ID type required are; Driver’s license, NHIA Membership, voter card, national ID or passport.

For the mobile money account; MTN mobile money or AirtelTigo Money registered in your name for at least two months.

Interest rate: For first time users the interest rate starts from 14% for 30 days, however, for returning customers with good credit history a low rate of 8% may apply.

How to repay your Fido loan

You can either repay your loan via cash deposit or transfer from your Mobile money account/wallet

To use the MTN Mobile money: This transaction should be coming from your wallet following the below steps,

  • Dial *501#
  • Select pay bill
  • Savings and loan
  • Loans and loan repayment
  • Loan repayment
  • Repay Fido loan
  • Enter amount you want to repay
  • Enter your Fido reference ID
  • Enter your Pin code and complete the payment

To repay via AirtelTigo money: Kindly follow the below steps,

  • Dial *501#
  • Select pay bill
  • Savings and loans
  • Loans and loan repayment
  • Loan repayment
  • Repay Fido loan
  • Enter amount
  • Enter your Fido reference ID
  • Enter your pin code and complete the repayment  

To make a deposit or transfer: Kindly see the below instruction

  • Pay into Zenith bank
  • Head office branch
  • Account name: Fido Money Lending ltd
  • Account number: 6010159660
  • Kindly write your full name on the deposit slip, then give your Fido reference ID to the teller as well.

What is the maximum loan amount?

First time borrowers can access 200 GHS to be repaid within 10 – 33 days. However, repaying your loan on time to build a good credit score/history can reduce your interest rate and afford you a higher loan amount of 1000 GHS.

2. Skika Master loan

Skika master is one of the online loans in Ghana without collateral you can access to get financing without delay. Skika provides 3 main types of loan currently;

  • Salary advance
  • Personal loans and the
  • Loyal repeat customer loans

Kindly study the below table to understand the features of these loans

FeatureSalary advancePersonal loansLoyal repeat customer loans
Loan amountUp to 100% of your monthly net incomeUp to 25 times your monthly netUp to GHS 2,000
Repayment periodUp to 30 days or next pay dayUp to 60 months/5 yearsUp to 3 months
Interest rateUp to 10% where 0% apply for existing qualified customerUp to 20% per annumUp to 7% per month
Upfront feeNoNoNo
Prior savings/depositNoNoNo
Processing fee10% deducted from approved loan to be disbursed7% deducted from approved loan to be disbursed5% deducted from approved loan to be disbursed
RequirementsMust be a salaried worker/private or publicMust be a salaried worker/private or publicMust be an existing customer of a vendor partner Reiny’s Ghana, PC24 Store Ghana, etc.

How to apply

Kindly visit Skika master website and commence your application process.

Be sure to read the requirements and keep them handy before you commence since they do not save pending application.

3. Absa loan

Absa Ghana loan is an online loan in Ghana without collateral, part of Absa group Ltd, an African financial services group that with a goal to be the pride of the continent.

Listed on the JSE in South Africa and one of the Africa’s largest diversified financial services groups with presence in 12 countries across the continent and around 42,000 employees.

Absa offers the following loans,

  • Personal loans: With this loan you may finance a car purchase if you wish
  • Scheme loans: Absa sign contract with your company to lend you money the employee then get deducted from your salary
  • Employee salary overdraft: Overdraft helps you to cover unforeseen expenses, usually marked on your salaried account
  • School plan: This is a loan designed to support parents and guardians and individuals at various levels of education to settle school fess.

4. Oze loans for SME

Oze is an online loan in Ghana without collateral that partners with financial institutions and other fintechs to offer small business loans to users who consistently use the Oze business app and have completed their loan application and passed the loan prep process.

Oze offers a loan of up to 10,000 GHS, loans given out at as little as 3% monthly interest on the amount received. This loan can be repaid in installment to a maximum duration of 12 months.

Eligibility: You have to be an active Oze app user for at least the last 30 days. After 30 days kindly reach out to Oze coach, send in your application form, review your Mobile Money statement and get started.

5. MTN quick loan

In view of deepening financial inclusion in Ghana, MTN partnered with AFB Ghana to provide its customers with loans, accessible to users who have actively completed transactions in their wallets beyond 90 days.

It offers up to 1,000 GHS with an average rate of 6.9% interest rate. Collateral required for this loan is a frequent use of the MTN Mobile Money and committing to repaying loans on time previously.

How to access loan

  • Dial *170#
  • Select option “5” for financial services
  • Select “3” for loans
  • Select “1” to register for free or “2” to view the service terms and conditions.

6. Zidisha loan

 Zidisha has been around and the idea is to provide small loans to borrowers in Ghana and other developing countries. It’s focused on supporting SMEs, Zidisha connects individual lenders directly with recipients through a peer-2-peer platform.

How funds are transferred between Zadisha and entrepreneurs

Transaction are conducted via M-Pesa in Kenya, in Zambia funds are transferred via mobile phone payment services called MTN Mobile Money. In Ghana and Nigeria, funds are sent electronically to Mobile Money or bank account of the member’s choice.

Who can apply for this loan?

  • You must be of good reputation and have the support of family, neighbors and local community leader.
  • You do not currently hold any overdue loans from other lenders
  • You should have an active business or employment with sufficient income to ensure your loan can be repaid in installment
  • Have access to internet or smart phone with Zidisha app installed, and be able to fill out entrepreneur profile and application forms and respond to lender comments via the app or website.
  • You should reside in Ghana, Indonesia, Kenya, Nigeria or Zambia.
  • Be at least 18 years old

Threshold: As a first time member you would have to start with a small test loan to build your credit limit, thereafter you can borrow up to N4,153,730 NGN per loan.

Repayment: You repay your loan on weekly basis, however, you may choose your own amount to repay weekly.

7. Paylater loan

Paylater is an online loan company focused on increasing access to credit financially underserved.

On the paylater platform, loan decisions are usually reached within 15 seconds, subsequently if approved, the applicant receives funds within 5 minutes.

You will need to down load the Paylater loan app since the facility can be accessed via the app on the spot.

The paylater online loans are usually for short-term borrowers, designed to see you over the course of the next payday.

New users will usually have access to borrow only N10,000. You neither require collateral nor guarantor to access the Paylater loan.


  • Valid bank details
  • BVN
  • Android phone and
  • Completed loan application on line

8. Kiakia loan app Ghana

Kiakia loan is one of the online loan platforms in Ghana, however, a subsidiary of Sterling bank of Nigeria that provides a straight forward personal loan for unemployed Ghanians at good and affordable interest rate.

The Kiakia loan does not require guarantor, collateral or paper work of any kind to access facility.


  • Valid ID card
  • You must have attained 21 years and above
  • A functional/valid email address
  • A bank account,
  • Be residence in Ghana or Nigeria
  • Provide your BVN

There’s a gate way to start your investment journey via the Kiakia p2p app.

How to apply

Kindly visit the kiakia website, click on the “get a loan” option, follow up by using a friendly chat to complete your application. All the necessary steps for the loan application will be made known to you.

9. Barclays loan

The Barclays loan here is a Ghana based loan that offers its users instant loans via current account. The turn-around-time is usually within split seconds/minutes.

Your loan disbursement with Barclays is subject to approval.


There are several online loans in Ghana without collateral you can turn to for your pressing and emergency funding needs, you just find what suits and appeals to you.

Check their interest rates and repayment violation policy to make a sound decision just in case you couldn’t pay back on time.

Bear in mind that repaying your loan before or at the exact due date will improve your credit ratings, most times reduces the interest rate you would have been charged while your loan limit stands to be upgraded for higher amounts.

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