Telecommunications giant, MTN Ghana has launched a new loan service for MTN Mobile Money Subscribers across the country. This new lending service requires no savings and the fund applied for is directly paid into a customer’s mobile money account with some minutes.
What is Ahomka Loan
This new lending service called Ahomka is believed by many as a strategy to alleviate covid monetary-related impacts. The Ahomka Loan is similar to the Express Loan service by MTN Services.
Features of the MTN Ahomka Loan include;
- The loan is simple and easy to apply
- The loan repayment term is 30 days
- The minimum loan is GHS 50 with the maximum being GHC 1000
- Customers can have one loan at a time and can only apply for a new one after paying the existing loan.
Ahomka loan interest rates
Any amount a customer borrow has an interest of 6.9% and 12.5% for defaulters. The duration to pay back the loan is 30 days. The maximum amount available for MTN customers is GHS1000, the same as Qwikloan and express loan.
Requirements for MTN Ahomka loan
Qualifying for the new lending service depends on how frequent you transact via MTN Mobile Money as well as airtime usage. This involves performing frequent transactions such as deposits, transfers, purchasing airtime etc.
Below are the things you need before you can access the MTN Ahomka Loan on your Mobile Money platform.
- Applicant must be 18 years and above.
- Applicant must be an active MTN Ghana subscriber for not less than 90 days.
- You must be registered on the MTN Mobile Money Service and actively use the Wallet for transactions.
- If you are a loan defaulter, you need to repay in order to qualify for another loan.
- You may not qualify to apply for Ahomka if your MTN Mobile Money wallet activity is too low.
Steps to apply for MTN Ahomka loan
In this article, hypercitigh.com will guide you through how to apply for the Ahomka loan and get it on your MTN fully loaded in 15 minutes.
- First, Dial *170#
- Select Option 5 for Financial Services
- Select 3 for Loans to choose your preferences
- Select Option 3 for Ahomka Loan
- Select Option 1 to get a Loan
- Enter Your Pin to Confirm
- Select Option 1 to view Offers
- Enter your preferred amount between 50GH to 1000
- An SMS will be sent to indicating you that the loan has been credited to your MTN Mobile money Account
How to Repay your MTN Ahomka Loan
The loan amount would automatically be deducted from one’s account by MTN on a monthly basis plus interest.
How to repay your Ahomka Loan manually
you can repay your loan manually at any time by dialling *170#,
- Select Option 5 for Financial Services
- Select 3 for Loans to choose your preferences
- Select Option 3 for Ahomka Loan
- Select Option 2 to repay your loan
- Enter Your Pin to Confirm
- After entering your MOMO Pin, the loan amount would automatically be deducted from one’s account by MTN on a monthly basis plus interest.
- An SMS will be sent to notify you that the loan has been deducted from Mobile money
How to check MTN Ahomka Loan balance
After loan repayment, the MTN Ahomka Loan limit may change.
You can check your limit by following these steps.
On your mobile phone,
- Select Option 5 for Financial Services
- Select 3 for Loans to choose your preferences
- Select Option 3 for Ahomka Loan
- Select Option 3 to Check my loan balance
- Enter Your MOMO Pin to Confirm
- A message displays how much loan you owe and when repayment date will be due.