Quick Loans in Ghana: Requirements and Options

Nov 10, 2025 0

In Ghana, several options are available for individuals and businesses seeking quick loans to manage urgent financial needs or scale their operations. Getting a loan without collateral in Ghana to scale your business should not be something that is hard to obtain.

Here's an overview of some popular quick loan facilities and their requirements:

Unsecured SME Loans

Need an unsecured SME Loan to help you manage and grow your business? Look no further than CBG's SME Smart Loan. The SME Advanced Loan gives you an unsecured loan for your growing business.

CBG Loans

Secure your loan with cash or near cash investments with CBG.

QuickCredit

QuickCredit is an innovative product developed to give our retail customers instant access to cash for their pressing needs. Customers with salary accounts with the Bank can borrow up to 100% of their monthly salary at only 18% per annum interest rate and enjoy up to 12 months flexible repayment plan. Simply dial *737*0# to start.

How to Apply for QuickCredit:

Dial *737*0#
Select option 1 (Payday Credit)
Agree to Terms and Conditions
Enter amount to borrow
Enter Tenure (up to 12 months)
Enter your PIN to confirm transaction
Your funds will be credited to your account instantly.

How to Repay QuickCredit:

Dial *737*0# on your phone
Select option 4 (Repayment)
Select option 2 (Close Credit)
Enter PIN to liquidate credit.
You will receive an instant notification to confirm that your repayment has been successful.

Once the facility is fully paid, you can access it again by dialing *737*0# and selecting option 1 for Payday Credit.

CedisPay Loans

At CedisPay, we offer a wide range of financial solutions to meet your needs.

Pension Backed Loans: Designed for Tier-3 pension contributors with good credit habits, consistent savings, stable employment, and pension assets.
Unsecured Salaried Loans: Personal loans for salaried employees with a solid credit history, consistent savings habits, stable employment, and proof of residence.
Mobile-Money Deduction Loans: Supports customers with limited income or low credit scores, offering an accessible solution for essential expenses. Loan eligibility and amounts are based on the customer's mobile money transaction history, making it easy to qualify.
Business Loans: Tailored for customers with a solid record of mobile money and bank transactions, particularly those geared towards business operations. This loan is ideal for entrepreneurs and small business owners who actively use mobile money or bank accounts for business needs like working capital or equipment purchases. Loan eligibility and amounts are determined by transaction history, allowing qualified borrowers with an established place of business to access funding with ease.

Oze Loans

Oze partners with financial institutions and other fintechs to offer small business loans to users who consistently use the Oze Business App and have completed the loan application and passed the Loan Prep Process.

I Tried EVERY Loan App In Ghana, Here's What I Found

Oze offers up to 30,000 Ghana Cedis. These short loans in Ghana are given out with as little as 3% monthly interest on the amount received. To be eligible for the loan, an applicant has to be an active Oze Business App user for at least 30 days.

MTN Qwickloan

MTN partnered with AFB Ghana, to provide customers with MTN loans, which is accessible to users who have actively transacted in their wallet beyond 90 days. Qwickloan, is an instant way to access cash at any time for any purpose and offers up to 1,000 Ghana Cedis. The loans have a 6.9% interest rate on the amount given. The “collateral” regarding this loan is frequent use of MTN Mobile Money as well as committing to repay previous loans on time in order to have access to more loans of larger sums.

Fido Loans

Fido Loans are provided by Fido Micro Credit (FIDO), a financial institution based in Accra. For first time borrowers, they are eligible to receive a maximum of 200 Ghana Cedis to be paid back within 10 to 33 days. However, as a person keeps borrowing, they build their creditworthiness to receive larger sums at discounted interest rates.

Read also: Loans for Bad Credit in SA

Zidisha Loans

Zidisha is an online microlending community that directly connects lenders and entrepreneurs, without intermediaries. Zidisha loans are offered to anyone who has the Zidisha app, a valid ID and a good reputation based on recommendations from friends and family. Hence, Zidisha loans can be as little as $1 and as large as the amount the entrepreneur posted that they needed. There is no interest rate when borrowing from Zidisha.

PayLater Loans

PayLater is a platform of private money lenders in Accra, that provides the service of smart cash loans in Ghana through their app, where one receives an instant deposit of the loan after the application is submitted. PayLater offers loans to the tune of 5 Ghana cedis for first-time users at a 5% monthly interest rate.

Absa Direct Loan

Get the extra cash that you need to reach a goal or to cover an unexpected expense. Choose between an unsecured personal loan, scheme loan or overdraft and benefit from competitive fixed interest rates plus get access to expert financial advice to help you manage your financial health. We offer a hassle-free application processes and quick approval times.

The average Annual Percentage Rate (APR) for Absa Direct Loan is the Ghana Reference Rate (GRR) plus a range of -3% to 20%. The exact APR will be made available to you when you engage us at any of our branches to request for a loan. Make sure you have your proof of identity such as an ID, valid passport or valid Ghanaian driver’s licence ready. Signature clearly visible, signed on white paper, scanned and sent as a JPG or PNG.

Additional Loan Options

CashXpress Loan: The CashXpress loan helps customers to quickly manage their emergency cash needs. CashXpress loans are affordable and instantly disbursed out to a customer’s mobile wallet or bank account.
Express Temporary Overdraft: The Express Temporary Overdraft is a short term overdraft facility to businesses to meet urgent pressing financial needs.
DreamLife: With DreamLife you can pick up what you need from any of our partner vendors at the displayed showroom price and pay over 12 months. There are no additional charges and no interest!

Another factor that stops or minimizes loan applications is the processing time it takes to acquire a loan. If not, the processing time could even outnumber the period you urgently needed the loan for, rendering the purpose of the loan futile.

Read also: Financing Your Education in Kenya

Blue believes in responsible lending and profit with a purpose! We share returns with our customers. We make access to credit hassle free for our customers. Loans are processed and paid electronically into bank or mobile money account saving you the need to visit a branch. Blue cares about your peace of mind and the protection of your family.