MTN Ahomka Loan is a money lending service launched by Telecommunications giants, MTN Ghana. This innovative loan service does not need any deposits, and the funds are instantly transferred to a customer’s mobile money account within minutes.
What exactly is an Ahomka Loan?
Many people feel that Ahomka, a new loan business, is a way to ease severe financial consequences. The Ahomka Loan is identical to MTN Services’ Express Loan service.
Requirements for MTN Ahomka Loan
Before you can use your Mobile Money platform to access the MTN Ahomka Loan, you’ll need the following items.
- The applicant must be at least 18 years old.
- The applicant must have been a subscriber to MTN Ghana for at least 90 days.
- You must be a registered user of MTN Mobile Money and actively utilize the Wallet to conduct transactions.
- If you’ve defaulted on a loan, you’ll need to repay it before you can get another one.
- If your MTN Mobile Money wallet activity is insufficient, you may not be eligible to apply for Ahomka.
Features of MTN Ahomka Loan
The MTN Ahomka Loan has the following features:
The loan is simple to obtain and apply for.
The loan has a 30-day payback period.
The lowest loan amount is GHS 50, with a maximum loan amount of GHC 1000.
Customers are only allowed to have one loan at a time and may only apply for another after paying off the previous one.
How to apply for MTN Ahomka Loan
Techbossu will walk you through how to apply for an Ahomka loan and get it completely loaded on your MTN in 15 minutes in this post.
1. To begin, dial *170#.
2. Choose Option 5 “Financial Services”.
3. Select 3 from the drop-down menu.
4. Choose Option 3 for the Ahomka Loan.
5. Choose Option 1.
6. Enter Your Pin to confirm.
7. Choose Option 1 from the drop-down menu.
8. Input a value between GH₵50 and GH₵1000.
You will receive an SMS confirming that the loan has been credited to your MTN Mobile Money account.
How to pay back your MTN Ahomka loan?
MTN will deduct the loan amount plus interest from your account on a monthly basis; however, you can return your loan manually at any time by dialing *170#. Here’s how to repay our MTN Ahomka Loan.
1. To begin, dial *170#.
2. Choose Option 5 “Financial Services”.
3. Select 3 from the drop-down menu.
4. Choose Option 3 for the Ahomka Loan.
5. Choose Option 2 to return your debt.
6. Enter Your Pin to Confirm.
Following the entry of your MoMo Pin, MTN will debit the loan amount, plus interest, from your account on a monthly basis.
You will receive an SMS notifying you that the loan has been deducted from your Mobile money account.
How to check MTN Ahomka loan Balance?
The MTN Ahomka Loan limit may alter once the loan is repaid. Follow these methods to determine your limit.
1. To begin, dial *170#.
2. Choose Option 5 “Financial Services”.
3. Select 3 from the drop-down menu.
4. Choose Option 3 for the Ahomka Loan.
5. To check my loan balance, choose Option 3.
6. To Confirm, enter your MOMO Pin.
7. A notification will show you how much money you owe and when your next payment is due.
FAQs
What are the interest rates on Ahomka loans
The interest rate on any amount borrowed by a consumer is 6.9%, with defaulters paying 12.5 percent. The loan has a 30-day payback period. MTN clients can borrow up to GHS1000, which is the same as Qwikloan and express loan.
