How to access MTN loan of Ghc2500 – Ghc55,000 at 1.5% easily
Good news for all MTN customers. Subscribers can now access MTN loan between Ghc2,500.00 and Ghc55,000.00. The loan can be disbursed within 30 minutes when a customer meets all the conditions and fills out the form correctly.
The interest rate on the loan is 1.5% per month. This interest rate appears to be very competitive compared to other interest rates charged by financial institutions.
It is, however, not clear whether the interest rate is a compound interest or simple interest. Also, it is not clear whether the interest rate is on reducing balance or it is a flat rate.
Compound interest is when a customer pays interest on the overdue interest that he or she is supposed to pay. That is any overdue interest is considered a new principal to the borrower. However, the customer does not pay any interest on any overdue interest. The customer pays the overdue interest whenever he or she can.
A reducing balance type of interest rate is when the interest is paid on only the outstanding balance of the principal. The flat rate type of interest is when the interest is calculated on the initial interest for the whole duration of the loan before the accumulated interest is spread over the entire period.
The MTN loan is underwritten by ECOBANK Ghana. This means the entity offering the loan is ECOBANK Ghana and MTN is only a medium for application and disbursement.
Below are a few of the terms and conditions
1. Qualification of AhomkaLoan with terms and conditions underwritten by ECOBANK; Be sure you made loan requirements as stated above, thus make sure you are up to 25% or more of the loan amount request in your wallet before processing to application to disburse the loan amount required successfully into your MTN wallet within 30minutes to an hour.
2. I have read and agree to the terms and conditions of AhomkaLoan regarding repayments, fees, data sharing and Loan recovery, underwritten by ECOBANK. Kindly be aware your Loan amount required from MTN will be automatically declined if you are not up to 25% or more of the Loan amount requested in your MTN wallet after processing.
3. PLEASE NOTE THAT WE DON’T GIVE OUT LOANS LESS THAN GHS2,500.00. ANY LOAN APPLICATION LESS THAN GHS2,500.00 WILL BE DECLINED AUTOMATICALLY BY THE SYSTEM. KINDLY APPLY YOUR LOAN AMOUNT FROM GHS2,500.00-GHS55,000.00 AND HAVE 25% OR MORE OF THE LOAN AMOUNT REQUESTED IN YOUR MTN WALLET FOR QUALIFICATION.
4. I HEREBY AGREE THAT ALL THE INFORMATION PROVIDED ON THIS FORM IS CORRECT TO MY KNOWLEDGE AND ANY FALSE STATEMENTS PROVIDED WILL BE BLACKLISTED AND HELD WITH THE FINANCIAL LAW ENFORCEMENT
How to apply
Below is the marketing message from MTN Ghana concerning the loan offer
Great news! You can now access MTN Ahomka loans starting from GHC2,500.00 – GHC55,000.00 which is accessible for MTN customers at 1.5% interest rate per month. Dial *170# and opt in 5,3,1 to apply now.
No collateral, No guarantee needed. All you need to do is to make a transaction (deposit) of 25% or more of loan amount required for qualification.
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