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Best Online Loans In Ghana Without Collateral


If you have been in need of some of the best online loans in Ghana without collateral, this comprehensive article will be your ultimate guide.

A loan is the lending of money by individuals or organizations to other individuals or organizations. The person who receives the loan is a borrower, and they incur debt and may or may not pay interest on the loan borrowed, depending on the lender.

A loan company is a financial institution that offers or issues loans to individuals and organizations. They borrow money from more prominent financial institutions at a low-interest rate and lend at a higher interest rate. 

Loan companies give out loans only while banks receive deposits and withdrawals and, in some cases, give out loans.

A loan may be secured by collateral or unsecured, like credit cards. In Ghana, credit cards are generally not used.

What is collateral?

Collateral is any asset that a financial institution or lenders require from a borrower as repayment if the borrower defaults.

Loan collateral includes a car, any landed property, and even a home. Basically, financial institutions use collateral to measure security against the risk that you won’t be able to repay the loan.

If you are looking for fast and reliable loan companies in Ghana, stick around and read this article.

Below are some of the best online loans in Ghana without collateral;


OZÉ partners with financial institutions and other fintech to offer small business loans to users who consistently use the OZÉ Business App and have completed our loan application and passed our Loan Prep Process.

If you are starting a business and need a loan without collateral in Ghana, OZE SME Loan will be the best option to look out for.

While you’re waiting for your application to be processed, here’s what we suggest you do next:

  1. Download the OZÉ Business App and start recording transactions.
  2. Read our blog on how a loan would affect your business: Are You (and Your Business) Ready to Take on a Loan?.
  3. Take a short quiz to see if you’re ready for a loan: Credit Ready Quiz.
  4. Make a request for a loan: Loan Request Application.
  5. Receive a call from OZÉ Coach with your pre-qualification results!

If you are pre-qualified for a loan by OZÉ, they will pair you with one of their loan partners to continue the process.

MTN Qwick Loan

Qwick Loan is an innovative financial solution by afb Ghana and MTN MoMo that provides quick and convenient loans to subscribers of MTN MoMo. It’s a short-term, unsecured, cash loan paid into your MTN Mobile Money wallet.

The loan is simple and accessible, with no previous savings required. If you pay your loan on time, every time, then you will continue to have access to a loan whenever you need it.


  1. Dial *170#
  2. Select option 5 -financial services
  3. Select option 3 – loans
  4. Select option 1 to register for free or option 2 to view terms and conditions

Carbon Ghana

This is an online loan in Ghana. The application, processing and disbursement of money is with a smartphone. The requirement involves bio-data of applicant, employment details, passport and the amount you wish to borrow.

Their loan disbursement is quick once approved. The loan amount ranges from GH₵5 to GH₵1,000. One important thing to note with Carbon Ghana is that there is no extra charge on delayed repayment.

Fido Loan

Fido Micro Credit (FIDO) is a financial institution based in Accra, Ghana and licensed by Bank of Ghana. FIDO provides fast and easy short-term loans, called FIDO Loans.

Customers can apply for a FIDO Loan directly from their own mobile device and receive a credit decision within minutes. The loan is available to artisans, microentrepreneurs and SMEs to grow their businesses.

Just a one-time verification of ID and mobile money account is necessary before disbursement of the money. No collateral or guarantors are required. Fido Loan is one of the online loans in Ghana without any collateral.

Zidisha Loan

Zidisha (founded in 2009) has focused on supporting small-scale entrepreneurs, but with a twist: instead of sending the money through a third party, Zidisha has connected individual lenders DIRECTLY with recipients, through its innovative peer-to-peer lending platform.

If you need a loan for your small business, Zidisha Loan is one of the Collateral-free loans you can opt for.

PayLater Loans

Paylater® is a simple, entirely online lending platform that provides short-term loans to help cover unexpected expenses or urgent cash needs.

With just an Android device and basic requirements, you can apply for a Paylater loan 24 hours a day, 7 days a week with a quick application process that lets you know your status within minutes.

No collateral, guarantors or application fees required. Just a few clicks of a button.

PayLater currently offer two loan packages:

PAYLATER (loans available to all) & PAYLATER PLUS (loans for salary earners).

Get Started 

It’s simple! Just follow the steps below to apply for a Paylater loan:

1. Download the Paylater app here

2. Register your personal details

3. Choose your desired loan amount and duration

4. Submit your application. You will get a loan decision in seconds.

5. If approved, your account is credited within 5 minutes.

Frequently Asked Questions(FAQs)

Below are some frequently asked questions about collateral-free loans in Ghana;

How can I get collateral free loan in Ghana?

There are apps that allow you to access collateral free loans in Ghana. MTN Quick Loan, OZÉ SME Loan, Fido Loan, Zidashi Loan, PayLater Loans, Carbon Ghana, etc are some apps you can use to get collateral free loans in Ghana.

Which app gives quick loan in Ghana?

In Ghana, one of the easy money lending apps is Fairmoney Loan. They offer quick loans which you can use for various purposes ranging from health emergencies, and rental payments, to other personal needs. You can also resort to MTN Quick Loan or Fido Loan. They both offer quick loan services. 

Is Fairmoney loan in Ghana?

Yes, Fairmoney is in Ghana. Fairmoney is one of the new easy money lending apps in Ghana. This app offers quick cash for borrowers. And it comes as personal finance, vehicle maintenance, health emergencies, etc.

How can I register for MTN quick loan?

  1. Dial *170#
  2. Select option 5 -financial services.
  3. Select option 3 – loans.
  4. Select option 1 to register for free or option 2 to view terms and conditions.


In this article, we listed some best online loans in Ghana without collateral.

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