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How to borrow MoMo from MTN

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How to borrow MoMo from MTN

Borrowing MoMo from MTN has become very popular in recent times. It’s okay to run out of money while at the market or anywhere, but be rest assured that MTN provides instant mobile money loans to it’s subscribers.

MTN MoMo provides quick and convenient Loans to subscribers of MTN MoMo. It’s a short-term, unsecured cash loan paid directly into your MTN Mobile Money wallet after you request. The Loan is simple and accessible, with no previous savings required.

Requirements for getting an MTN MoMo loan

To obtain an MTN MoMo loan, there is the need for you to meet certain requirements before you would be able to access the loan. Below are the requirements:

  1. The applicant must be 18 years and above.
  2. You must own an MTN Ghana sim card.
  3. There is a need to be an MTN service user for at least 90 days.
  4. Also, you must be an active user of MTN Mobile Money services.
  5. Prospective applicants must have an active e-wallet.
  6. If you are a constant user of MTN QwikLoan services, you must have a good credit score and history.

Steps to acquire the loan is you meet the requirements:

  1. On your MTN MoMo number, dial *170#.
  2. Select Financial Services, option 5.
  3. Select Loans, option 3.
  4. Select QWIKLOAN, option 1.
  5. Select Get a loan, option 1.
  6. Enter your secret Mobile Money PIN code to confirm that you are taking a loan.
  7. The next page will ask you how much you want to borrow. For first-timers, you are usually given GHS 20 to GHS 60.
  8. For those who have been borrowing and repaying on time, you’ll be given a range from which you can enter what
  9. Accept payment terms and proceed.
  10. An SMS will be sent to notify you that the loan has been paid into your MoMo wallet.

FAQs

Q: How to get mtn momo loan?
A: Dial *170# on your MTN line and follow the prompt

Q: Why can’t I borrow money from MTN?
A: If you have an outstanding loan balance, late payment of previous loan requests, or you do not qualify for a loan at the moment, so keep using your momo account and check back frequently.

Q: What is the short code for MTN MoMo loan?
A: *170#

Author

Elikplim Torgah is a vibrant Ghanaian blogger with a passion for sharing stories that resonate with the African experience. Born and raised in Accra, Ghana, Elikplim's writing reflects his deep connection to his roots and his desire to amplify African voices on a global scale. With a background in journalism, Elikplim brings a keen eye for detail and a commitment to truth-telling to his blog posts. Whether exploring cultural phenomena, current events, or personal anecdotes, his writing is always infused with authenticity and empathy. Elikplim's blog serves as a platform for fostering dialogue and understanding, challenging stereotypes, and celebrating the rich diversity of African cultures. Through his engaging and thought-provoking content, he aims to inspire his readers to embrace their own identities and connect with others across borders and boundaries. In addition to his blogging pursuits, Elikplim is also an advocate for social justice and equality, using his platform to shine a light on pressing issues facing marginalized communities in Ghana and beyond. He believes in the power of storytelling to effect positive change and is dedicated to using his voice to make a difference in the world. Follow Elikplim Torgah's blog for insightful commentary, captivating narratives, and a fresh perspective on the African experience.

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