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.
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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?
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 –GHS 50 and based on how fast you paid the loan will determine how high the next amount for the loan will be.
you have reached your loan application limit mtn
you trying to get a new loan and mtn 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 mtn quick. you can try other loan applications too
why it is 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.
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.
The next reason is 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 pesewa 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.
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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 stand a chance of having the account reinstated to assist you with the loan facility.
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.
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 loan
how to qualify for mtn quick loan? it’s simple. You should have used your mtn number for some time now. Off a legal age, thus you gotta be 18 years and above to be able to take the loan, And do not forget your mtn momo wallet should be active and used for transactions in the maximum of 90 or more.
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.
how to deactivate mtn quick loan
Understand 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. 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 supposing you sign up for a quick loan from Mtn and your request was granted but after 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 up on the list indicating you’re mtn quick loan and need to pay it back as soon as possible.
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 qwikloan. 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 loan
- Step #6: You enter your momo pin to proceed
these are the steps to follow to repay your 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.
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.
Mtn QwikLoan allows a 30-day loan term with a single repayment with a 6.9% interest rate
As long as you don’t have any outstanding loans to pay, you qualify for an MTN loan when you request it.