MTN Qwik Loan is a short-term, unsecured cash loan paid into your MTN Mobile Money wallet. The loan is simple and accessible, with no previous savings required.
MTN Qwik Loan is an innovative financial solution by afb Ghana and MTN MoMo that provides quick and convenient loan to subscribers of MTN MoMo.
If you pay your loan on time, every time, then you will continue to have access to a loan whenever you need it.
Who Qualifies for MTN Qwik Loan
To Qualify for the Qwik loan service, you need to frequently make Mobile Money Transactions and Top-up your airtime for 90 Days.
How to Apply for MTN Qwik Loan
- First, Dial *170#
- Select Option 5 for Financial Services
- Select 3 for Loans to choose your preferences
- Select Option 1 for QWIKLoan
- Select Option 1 to get a Loan
- Enter Your Pin to Confirm
- Select Option 1 to view Offers
- Enter your preferred amount between 50GH to 1000
- Enter Option 1 to Confirm repayment Plan
After Confirming repayment, you will an SMS of the Loan amount you requested and the applicable service fee for the transaction.
Once the transaction is done, MTN will loan you the preferred amount directly into your Mobile Money Account which you can check via *170#.
MTN interest rate of the QWIKLoan stands at 6.9% and 12.5% when you default. The maximum amount is also GHS1000, same as Ahomka Loan and XpressLoan.