Financing education can be a challenge for many students in Ghana, especially when unexpected expenses arise. Whether it’s covering tuition fees, buying study materials, or managing daily expenses, having access to quick and reliable financial support can make a significant difference. Fortunately, several loan apps in Ghana cater specifically to students, offering fast approvals, flexible repayment terms, and minimal requirements.
In this article, we explore the top 10 best loan apps for students in Ghana, highlighting their features, interest rates, and eligibility criteria to help you choose the right financial solution for your needs.
- The Student Loan Trust Fund
The Students Loan Trust Fund (SLTF) was established in December 2005. The objectives of the Trust Fund are to provide financial resources for the sound management of the Trust to benefit students.
SLTF provides funds to establish facilities to enhance tertiary education to support students they also provide money to support any other activities and programmes for the promotion of relevant courses as determined by the Trustees, in consultation with the Minister.
Its mission is to provide timely financial services to eligible Ghanaian tertiary students. Any Ghanaian student in an accredited tertiary institution in Ghana studying an accredited program can apply for a loan. All you need to apply is your Ghana card, a personal email address, and register for an e-zwich card.
CONTACT: +233 (0)302 751 020
2. Ozzy Money Loan App
Ozzy Money Loan offers flexible loan options in Ghana, with loan limits ranging from GHS 5,000 to GHS 15,000. Borrowers can access funds with a maximum comprehensive annualized interest rate (APR) of 36%. The loan terms are designed to accommodate different financial needs, with a minimum repayment period of 91 days and a maximum term of 210 days.
Loan Calculation Example:
If your loan amount is 10000, your loan term is 180 days.
Then the loan expires after 180 days, and your loan interest is 10000*36%/360*180=1800.
Your total repayment amount is 10000+1800=11800
3. GH Loan APP
Gh Loans is a good option for instant loans in Ghana, offering a fast, secure, and convenient way to access financial support. With an easy-to-use app, students can swiftly apply for loans to pay their fees and other educational expenses.
To be eligible, applicants must be Ghanaian citizens above 18 years old with a regular source of income. Gh Loans provides flexible loan amounts ranging from GHS 1,000 to GHS 5,000, with repayment terms between 92 and 180 days.
The annual interest rate (APR) varies from a minimum of 12% to a maximum of 26%, ensuring competitive borrowing options. For example, a GHS 1,000 loan over 92 days at a 12% APR results in a total repayment of GHS 1,080.36, including interest and fees. Similarly, a GHS 5,000 loan over 180 days at a 26% APR follows a structured repayment plan.
With quick approvals and a seamless borrowing process, Gh Loans ensures that students get the funds they need when they need them.
4. IZWE Loan App
Izwe’s secured personal loans provide a reliable financial solution, allowing students access to funds without giving up ownership of their valuable assets. If you are a student and you have a car, landed property, or a secure medium to long-term investment with Izwe, you can leverage these resources to secure a loan while continuing to use them. This unique financing option ensures that you get the assistance you need without disrupting your financial stability.
With loan amounts of up to GHS 500,000 and a flexible repayment period of up to 48 months, Izwe offers a convenient and accessible borrowing experience. The application process is straightforward, requiring minimal documentation, making it easier for individuals to secure financial support quickly. Take advantage of Izwe’s secured personal loans and let your assets work for you while maintaining full control over them.
5. Pea Money Loan App
Pea Money offers convenient and accessible online loan solutions to students in Ghana, helping them meet their financial needs with ease. Whether you need funds for urgent purchase of educational materials, an unexpected expense, or school fees, Pea Money provides flexible loan amounts ranging from GHS 1,000 to GHS 10,000.
With repayment terms between 120 and 360 days, borrowers can select a schedule that suits their financial situation. The annual interest rate ranges from 24% to 31%, ensuring a transparent and structured repayment process. For example, a GHS 1,000 loan over 180 days at a 31% annualized interest rate results in a total repayment of GHS 1,154.80, including interest.
Applying for a Pea Money loan is fast and straightforward. To qualify, applicants must be legal residents of Ghana, aged 20 to 65, with a fixed income, valid identity documents, and a bank account. This means this loan option is only accessible to students who are already working and are earning a fixed salary.
The process involves filling out an online application, verifying identity through the app, and receiving fast approval. Pea Money operates 24/7, ensuring a seamless experience with no collateral, paperwork, or hidden fees. Your personal information is protected, and the interest rates remain transparent.
CONTACT: via telephone at +233 0503494465 or email PeamoneyGhanaservice@outlook.com.
6. CedisPay Loan App
CedisCredit, developed by CedisPay, is a revolutionary financial solution designed to make loans more accessible to all Ghanaians. Traditional loan requirements often exclude many individuals due to high credit score demands, income thresholds, and guarantor conditions. CedisCredit removes these barriers, offering financial flexibility to those who may not qualify for conventional loans. With loan amounts ranging from GHS 200 to GHS 1,000, this service ensures that individuals including students, can access the funds they need to pay their fees, books, and other educational materials.
CedisCredit provides quick and easy loan access with flexible repayment options. Borrowers can choose repayment terms of 7, 14, 21, or up to 30 days, making it convenient to manage their finances. The monthly interest rate is set at 6%, with an additional 1% processing fee. Loan eligibility starts at GHS 200 and can increase based on a borrower’s repayment history, rewarding responsible borrowing. Automatic deductions from the borrower’s mobile money wallet ensure timely repayments, reducing the risk of default and helping build a positive credit profile.
To qualify for a CedisCredit loan, applicants must be Ghanaian citizens with a valid national ID, proof of current address, and an active mobile money account used for at least six months. Loan amounts are determined based on mobile money transaction history, including transaction frequency, consistency, and average monthly amounts. Higher loan tiers require more frequent and stable transactions. For instance, a GHS 1,000 loan requires at least 20 mobile money transactions per month, averaging GHS 450, with high consistency and a strong repayment history.
CedisCredit uses a tiered loan structure to ensure responsible lending. Borrowers start with a loan of GHS 200 and, by maintaining stable transactions and timely repayments, can qualify for higher amounts of GHS 500 and GHS 1,000. This model encourages financial discipline while providing individuals with the opportunity to access larger funds as their creditworthiness improves. With transparent terms, no collateral requirements, and an efficient approval process, CedisCredit is transforming mobile money lending in Ghana, making financial support more inclusive and accessible.
CONTACT: 0244 680 960, 0595 741 614 or 0595 741 673
7. Miniloan App
Miniloan has been newly upgraded to offer an extended repayment period, lower interest rates, and exciting benefits for both new and existing customers. Designed as a convenient and reliable financial platform for mobile users, Miniloan provides a secure and hassle-free loan application process. Borrowers who repay on time can access future loans without additional documentation, making it an efficient solution for short-term financial needs.
Miniloan offers loan amounts ranging from GHS 500 to GHS 5,000, with repayment terms between 90 and 365 days. The annual interest rate (APR) ranges from 18% to 34%, ensuring competitive and transparent borrowing costs. For example, a GHS 5,000 loan with a 22% APR over 180 days results in a total repayment of GHS 5,550, including GHS 550 in interest. These flexible terms allow borrowers to manage repayments more comfortably while accessing the funds they need.
Applying for a Miniloan is quick and straightforward through the Miniloan mobile app. Users can complete the process in a few steps: install the app, register with a phone number, verify their identity, and receive funds directly in their account. This seamless digital experience ensures that borrowers can access financial support without unnecessary paperwork or long waiting times.
Miniloan is available to Ghanaian citizens between the ages of 20 and 60. With no complex requirements, the platform ensures that more people can access credit when they need it most. Whether for emergencies, business support, or personal expenses, Miniloan provides a reliable and accessible financial solution. Download the Miniloan app today and experience convenient borrowing with flexible terms and fast approvals!
CONTACT: mini@miniloangh.com
8. BestLoan Loan App
BestLoan is a trusted mobile app that provides instant personal cash loans in Ghana, Uganda, Tanzania, and Zambia. With a fast and simple approval process, students can access funds without the need for collateral. Whether you need money for school fees, emergencies, business needs, or personal expenses, BestLoan allows you to borrow online anytime, anywhere, ensuring convenience and financial flexibility.
BestLoan offers loan amounts ranging from GH₵ 500 to GH₵ 10,000, with repayment periods between 91 and 365 days. The annual interest rate (APR) varies from 12% to 24%, depending on credit evaluation. There are no hidden fees, ensuring a transparent borrowing experience. For example, if a customer borrows GH₵ 1,000 for 200 days at an 18% APR, the total repayment amount would be GH₵ 1,098, including GH₵ 98 in interest.
Applying for a loan with BestLoan is quick and hassle-free. Simply download the app from the Google Play Store, fill in your details, and check your loan eligibility in seconds. Once approved, you can apply for a loan and receive funds directly in your mobile wallet, making the process seamless and efficient.
BestLoan is available to eligible borrowers in Ghana, Uganda, Tanzania, and Zambia. With no collateral requirements and a simple online process, it is an accessible financial solution for students in need of quick cash.
CONTACT: bestloan678@gmail.com
9. Daraloan
DaraLoan is a reliable financial platform in Ghana that provides mobile loan services to individuals in need of quick and accessible credit. Whether you’re looking to expand your business or cover daily financial expenses, DaraLoan offers a seamless way to secure funds without the hassle of traditional banking procedures. With a straightforward application process and fast approval times, customers can access the financial support they need anytime, anywhere.
Applying for a loan with DaraLoan is simple and can be done entirely through a mobile device. To get started, users must download the DaraLoan app from the Google Play Store and install it. After registering with their mobile number, they can submit a loan application and wait for approval. The process is designed to be efficient, ensuring that eligible applicants receive their funds in the shortest possible time.
DaraLoan offers flexible loan amounts of up to GHS 5,500, with repayment terms ranging from 91 to 180 days. The platform provides a competitive maximum annual interest rate (APR) of 26%, alongside a 5% origination fee and a 1% technology provider charge. These charges are transparently communicated to borrowers, ensuring they fully understand the costs associated with their loans before accepting an offer.
For example, if a borrower takes a loan of GHS 5,500 with an APR of 8% over 180 days, the total repayment amount will include the accrued interest, origination fee, and technology provider charge. With a daily interest rate of 0.022%, the total interest over 180 days amounts to GHS 217.8, while the origination and technology fees add up to GHS 275 and GHS 55, respectively. In total, the borrower would need to repay GHS 6,047.8, ensuring a clear and structured repayment plan.
CONTACT: service@daraloan.com
10. LoanBase
LoanBase is a trusted and convenient financial platform designed for mobile users in Ghana. With a secure and efficient loan application process, it ensures that students can access credit anytime, anywhere when faced with financial constraints. Whether you need funds for school fees, hostel fees, personal expenses, emergencies, or books, LoanBase provides a stress-free borrowing experience, making it a reliable financial partner in achieving your goals.
LoanBase offers flexible loan amounts ranging from GHS 100 to GHS 6,000, with repayment terms between 91 and 360 days. The annual percentage rate (APR) varies from 12% to 136%, depending on the loan amount and duration. For example, a loan of GHS 2,000 with a 360-day repayment period at a 30% APR would result in a total repayment amount of GHS 2,600, including GHS 600 in interest. With transparent terms and no hidden fees, LoanBase ensures that borrowers always understand their repayment commitments.
Applying for a loan is simple and requires only a few basic eligibility criteria. Applicants must be over 18 years old, have a phone number registered in their name, and use an MTN, Airtel, or Vodafone mobile money wallet. The process is quick and involves three easy steps: downloading the LoanBase app and registering with your phone number, filling in your information once and waiting for approval, and, if approved, receiving funds directly in your mobile wallet within minutes.
LoanBase prioritizes user privacy and security, protecting all personal information with strict privacy measures. Your data will never be shared without your consent. With an easy online application process, fast approvals, and reliable financial support, LoanBase ensures you can get cash whenever you need it. Licensed by the Bank of Ghana, it offers a trusted and hassle-free way to access personal loans.
CONTACT: fb@loanbases.com.
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