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[UPDATED] Why Your Mtn Qwikloan Request Was Denied & how to borrow money from mtn

 

 

Mtn Qwikloan

MTN Qwikloan/Quick is a financial solution by AFB Ghana and MTN MoMo that provides a convenient loan to subscribers of MTN MoMo. It is a very easy and simple way.

 

 

Click here to find out how. 11 Years Of Mtn Mobile Money – How They Changed Africa’s Mobile Payments Solutions Forever

 

 

Do you find it difficult to get a loan using your MTN MoMo account or get the notification that you are unable to apply for MTN QwikLoan?

 

mtn loan app

MTN Mobile Money is a fintech app that allows you to do effortless transactions—send and receive money, pay bills, send international remittances, and conveniently access loans and savings—all from your mobile device.


What does MTN MoMo loan app do?

You get your cashback reward
Earn with your MoMo
Get double the internet data you purchase on the app and more

 

 

 

terms and conditions of MTN Quick loan


1. Applying for Your Mobile Loan

1.1 Eligibility and Application:

Apply for a mobile loan with the designated finance institution if you’re 18 or older and hold an MTN Mobile Money account.
1.2 Loan Application Details:
Upon application, receive clear details about:

Your chosen loan amount.
Loan term and repayment duration.
Interest rate and applicable interest amount.
Total Repayment Amount, encompassing Interest Amount and Other Fees.
The due date for repayment.
Other fees, including the late payment fee,.


1.3 Transparent Interest Terms:
Despite potential interest amounts during the loan term, you won’t incur an interest rate exceeding 7% for any continuous 6-month period while the loan amount remains outstanding.

1.4 Decision-Making Control:
Choose to accept or decline the loan by following the application menu instructions on your mobile phone.

1.5 Loan Approval Process:
Upon approval, the loan amount will be credited directly to your MTN Mobile Money account.

1.6 Approval Status Explanation:
The provider is not obligated to provide specific reasons for approving or declining your loan application, ensuring a straightforward process.

 

 

MTN Qwikloan quick loans in ghana
MTN Qwikloan


Why You Should Check Your Ghana Card Details Right Now!

 

 

The MTN Qwikloan has some conditions attached to it. You must have an active MTN MoMo account to start with.

 

 

Your initial loan amount should be between GHS 45 and GHS 50, and based on how fast you pay the loan, will determine how high the next amount for the loan will be.

ALSO READ  How To Apply For Loan Fido [2024]

 

 

 

mtn quick loan code

Here is the mtn quick loan code *170# for all you want to acquire an emergency loan

 

 

you have reached your loan application limit.


You are trying to get a new loan, and MTN will tell you you have reached your loan application limit. This can be very difficult to handle because you urgently need that loan money for something.

 

 

But since you have reached the limit, the only thing you can do here is to wait and give yourself some time off. you can try other loan applications too

 

 

 

 

Why is it not possible to get another MTN Qwikloan?

So the reason for you not being able to apply is that you couldn’t pay your previous loan within the stipulated time. Anytime you are given a loan, you are given an ultimatum of thirty days to repay it.

 

 

How To Apply For Loan Using Fido Money Lending App

 

 

During this time, your loan amount will not be taken from your wallet; rather, if you are able to repay during that period without taking money from your wallet, you are considered credit-worthy.

 

Be mindful that if you wait for the system to make automatic deductions, you will be found wanting, and getting another chance is minimal.

 

 

MTN Qwik quick loans in ghana
MTN Qwikloan



MTN Ahomka Loan: Apply Now And Receive GHs1000

 

 

The next reason is that you entered the penalty zone. You see, when your thirty days have elapsed and you get reminders that you owe them, do not take it on a lighter note.

 

This is because they are in dire need of their money and will not rest until the last peso is paid.

 

 

Again, you will be paying 12% of the loan amount as a penalty for late payment. If this continues two times, you will not be considered honorable enough to be given another opportunity to request a loan.

 

 

Check this out now! Best Apps for online loans in Ghana without any collateral

 

 

Solutions To Get Approved For Mtn Qwik/quick loans In Ghana

What can one do to prevent such awkward situations? First, contact MTN and make your complaints to them when you seem not to get access to the QwikLoan offer. You can have the account reinstated to assist you with the loan facility.

ALSO READ  Quick Online loans in Ghana without Collateral [2024]

 

 

If it does not work this way, then you stand a chance of being at risk by registering a new account attached to your business.

 

 

5 Apps For Your Easy Loan Access

 

 

To be on the safe side, just pay the loan before the time elapses, and both parties will be happy. There would not be any back-and-forth story, no disgrace, or lack of trust.

 

 

how to qualify for mtn quick loan


How do I qualify for an MTN quick loan? it’s simple. You should have used your mtn number for some time now. Off a legal age, thus you have to be 18 years and older to be able to take the loan. And do not forget that your MTN Momo wallet should be active and used for transactions of a maximum of 90 or more.

 

how to borrow money from mtn

Check Eligibility: Ensure you have an active MTN mobile number.

Dial USSD Code: Dial the short ussd code *170# provided

Follow Instructions: Enter details as prompted.

Review Terms: Check interest rates and repayment terms.

Confirm Request: Follow the instructions to confirm.

Receive Loan: Approved amount credited to your MTN Mobile Money account.

 

 

 

mtn quick loan contact number

For the MTN quick loan contact number, you cannot contact them directly, but if you are looking to apply for a quick loan, then you have to dial the short code *170# after following the instructions to proceed.

 

 

 

Mtn Mobile Money Ghana – How To Recover Your Money after Wrong Transactions

 

 

 

how to deactivate a MTN Quick Loan

Understand that this MTN does not provide a way for you to deactivate your Quick Loan account. But if you feel you can’t use their quick loan service anymore, contact them and request to delete or deactivate your quick loan account. I sure hope they will be able to help you out.

 

 

MTN quick loan defaulters list

So what exactly is the MTN Quick loan defaulters list? Well, suppose you signed up for a quick loan from MTN and your request was granted, but you failed to pay back the loan within the given time. This is where the defaulter’s list comes in. Your name will be put on the list, indicating you’re on a quick loan and need to pay it back as soon as possible.

ALSO READ  How to Borrow Money on MTN Ahomka Loan [2024]

 

 


What happens if I don’t pay my MTN Quick Loan?

Well, if you don’t pay your MTN quick loan, your names go on the defaulters’ lists, and MTN deducts any money that gets on the number that was used to sign up for the quick loan. And not forgetting a 12.5% penalty on your deductions, so do pay your qwikloan on time to avoid all these.

 

 

 


How to pay MTN Qwikloan

To get your MTN Qwikloan, here’s what you have to do:

  • Step #1: Dial the mtn momo short code *170#
  • Step #2: Select option 5 for Financial Service
  • Step #3: Select option 3 for Loans
  • Step #4: Now choose or select option 1 for Qwikloan
  • Step #5: Select option 2 to Repay the loan
  • Step #6: You enter your momo pin to proceed

These are the steps to follow to repay your MTN Qwikloan.

 

 

qwikloan alternatives

Getting approved for a mtn qwikloan these days is hard, but there are qwikloan alternatives that are easy to get approved for.


here is a list of the qwikloan alternatives:
1. Xpress Loan
2. Fido Loan
3. BloomKash
4. Access Payday Loans

 

 

 

 

 

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Source: fifty7tech.com

 

 

 

How do I qualify for the MTN Qwikloan?

You must be a current MTN subscriber in order to be qualified for a QWikloan.
You must be at least 18 years old
You must have been an active MTN subscriber for at least the previous 90 days.
Your MTN Mobile money wallet must be actively used in transactions for an extended period of time in order to be eligible for a reward.

What is the code for MTN Qwikloan?

Customers of MTN who want to take the Qwikloan need to dial *170# on their mobile phones and select option 6 to gain access to the Qwikloan service.

What is the interest rate on the MTN Quick Loan?

Mtn QwikLoan allows a 30-day loan term with a single repayment and a 6.9% interest rate   

How long does it take to qualify for an MTN loan?

As long as you don’t have any outstanding loans to pay, you qualify for an MTN loan when you request it.

 

 

 

 

Nana Yaw Jr.
Nana Yaw Jr.
A Techie with a devoted interest in following trendy tech and writing articles • SEO • Crypto Follower & Investor •Tech Media and other things.

49 COMMENTS

  1. I actually delayed in paying my loan. Now that l am ready to pay MTN failed to transact and reactivate my MoMo.

    • Just yesterday I paid my loan even before the due time…but when I requested for a new one they said I’m not qualified please what should I do to get a new one

  2. Almost three years they have refused me a loan I paid on time no delays but they still won’t give another loan

    MTN why

  3. For past 10yrs am using this sim still they say am not qualified eiiiii MTN too ooo
    I always take loan and I pay on time too now de3 they say am not qualified boi3

  4. I payed my loan and requested for another one,the process was successful but still the loan has not been paid into my account

  5. I actually delayed in paying my loan of 2k due to Covid 19 ( 2 yrs) ago but after then I was able to pay back and I have deposited and done transaction over 40k with my momo acct but yet MTN kept denying me loan again why?

  6. I defaulted and paid off 4yrs ago. Till date I don’t qualify for a loan again. I am a loyal customer and use both momo, airtime and data frequently.

  7. I was denied access to another loan after settling what i owned. I have a challenge with getting the hard copy of my Ghana Card and therefore couldn’t complete the registration process.

  8. Someone borrowed from my account but I couldn’t paid early but now I want to pay so what should I do. I even deposited some but it is still there. Thanks

  9. Just yesterday I paid my loan even before the due time…but when I requested for a new one they said I’m not qualified please what should I do to get a new one

  10. Why mtn doing this 😂😂😂😂
    I paid my qwikloan with someone’s money two weeks after I took the loan and they are saying I’m not qualified. I always pay my loan even before the due date is up to buy this people won’t give me any loan again

  11. I took a qwikloan and was supposed to pay back with interest on 18/09/23. But I paid it on 15/09/23. As at 30/09/23, I haven’t qualified to receive another loan upon all the calls, smses, Facebooking and whatsapping I’ve done with my sim, I still do not qualify. What’s the problem MTN loans?
    I’ve used my sim for 19 years.
    Don’t tell me to contact or call MTN…I did and was told that it’s a new policy and I’ve to accumulate some points to qualify for the next loan.
    Teach me how to accumulate or determine the points they’re talking about.

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