Vodafone Ready Loan is a short term credit facility by Vodafone Cash for active Vodafone customers and Vodafone Cash users.
Vodafone Ghana partners with CBG to offer loans to its customers during Financial crisis. If you want to apply for the new Vodafone Cash Ready Loan, all you need is a registered and active Vodafone SIM.
In this article, you will learn about how to register for Vodafone Cash Ready Loan and how to get it approved.
How to Apply for Vodafone Cash Ready Loan
- Dial *110#
- Select 5 for Financial Services
- Select 3 for Loans
- Select 1 for Ready Loan
- Select 2 for to request for Ready Loan
- Select 1 to opt in
- Read the Terms and Enter your Pin
- 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, Vodafone Ready Loan will loan you the preferred amount directly into your Vodafone Cash Account which you can check via *110#.
Who is Eligible
To Qualify for Ready Loan, you must be above 18 years old and an active user of Vodafone Cash.
Vodafone Ghana will add a Monthly interest and Penal Interest for defaulters who opt in for the Loan.
How to make your Loan Repayment
- Loan Repayment is fixed for 30 days after which it will be deducted from your Vodafone Cash account. However, you can make payment before the due date. You can successfully make repayment in Full or Partial with a well-funded account.
- You will be charged an additional rate of 12.5% as a penalty until full repayment is made.
How to take bigger amount of loans
- You must increase your activities on Vodafone and be an active user of Vodafone Cash.
- You must also ensure your payment of Ready Loan and other bills are made on time.
- Furthermore, you must also not default.
What happens if you default
A late payment charge will be applied, and your information will be submitted to credit related institutions. You will also be blacklisted if your default for months.