In Ghana, loans are available for the unemployed. The same financial requirements that apply to employed individuals also apply to the unemployed. To meet some of their own demands, some people choose to take out personal loans. can even obtain a business loan to grow their companies, etc.

However, financial institutions also offer other kinds of loans for a variety of purposes. People who are unemployed may have low self-esteem, which can occasionally cause depression.

About loans for unemployed

Loans for the Unemployed were created to provide money to those who aren’t working so they can meet their financial responsibilities. Lenders make sure that borrowers have a mechanism to repay the loans before granting them to the unemployed.

People who are unemployed typically struggle to meet their fundamental needs due to unemployment. And in order to meet some of these urgent needs, a rapid loan may be necessary.

However, individuals require money or a sufficient source of income in order to meet their fundamental demands. Nevertheless, there can also be bills to pay, such as tuition, phone, power, and other expenses. Therefore, obtaining loans in Ghana is a wise course of action for those who are jobless.

Features of loans for the unemployed

  1. They are quick loans.
  2. Your loans provide limited funds.
  3. There are no credit checks or required collateral for unemployed borrowers’ loans.
  4. They occasionally have high interest rates
  5. To avoid penalties, you must pay back the loan in full.
  6. You can apply for loans for the unemployed even if you have poor credit, such as defaults, missed or late payments, bankruptcy, and more.

Requirements for loans for the unemployed

The conditions for loans for unemployed Ghanaians are as follows:

  1. The applicant must be between the ages of 21 and 60.
  2. You must be a citizen of Ghana or a resident of Ghana (legally)
  3. A valid address proof is required.
  4. Provide a utility bill that is no older than three months.
  5. Identification documents such as a passport, driver’s license, voter registration card, etc.

How to apply for loans for the unemployed?

  1. Visit the location of a lender (financial institution) that provides loans to unemployed borrowers.
  2. Select a lender online, then use a smartphone, tablet, or computer to access their website.
  3. Fill out an online application for loans for the unemployed, and then submit it.
  4. Enter your name, bank account, mailing address, email address, etc., and then click “Submit.”

List Of Loans For Unemployed In Ghana

1. Vodafone Cash Ready Loan

Vodafone provides a service called the Vodafone Cash Ready Loan. This service, which enables you to borrow from your mobile network operator, is highly well-liked by Ghanaians.

Your Vodafone cash account will receive the funds, which you can then transfer right to your bank account.


  1. You must possess a Vodafone SIM card.
  2. You must be signed up for Vodafone Cash.
  3. At least six months of continuous Vodafone Cash use is required.

2. MTN Xpress Loan

Selected MTN customers who have used the mobile money service are eligible for the MTN Xpress Loan.

The USSD code (*170#) must be entered into your phone to use this service. The money will then be sent to your mobile money account, which you can then withdraw at a mobile money service agent nearby or transfer to your bank account and then withdraw as cash later.


  1. Your MTN line needed to have been continually recharged.
  2. You must have used the mobile money service frequently.

3. Fido Money Lending

In Ghana, the Fido Money Lending Company is a financial organization with a complete license to offer financial services. People who require these loans can download the app and register on it by downloading it first.

The loans are provided on a step-by-step basis, with the applicant receiving a small loan with his first application and a larger loan upon his second application, and so forth. Collateral is not required.


  1. You must download the application.
  2. You must create an online account with the company.
  3. To be eligible for higher loans, you must repay the first smaller loans first.

4. Ahomka Loan

Another lending product provided by MTN is the Ahomka Loan. It resembles the MTN Xpress Loan and the other ones. However, the Ahomka Loan, which has a baseline tenure of 90 days, is intended to help those who require financial support over a longer period of time.

The identical procedure

  1. Inserting *170# into the phone and sending
  2. Must be followed in order to obtain the loan.
  3. Then, click on Financial Services
  4. Select Ahomka Loan.
  5. Your MOMO account will receive the payment.


  1. Your MTN line needed to have been continually recharged.
  2. Your mobile money account must have been active.
  3. You cannot currently be in default on any loans.

5. Advans Ghana

Advans Ghana is a microfinance organization that provides several loans to Ghana’s unemployed as well as to numerous classes of individuals, including workers, owners of small and medium-sized businesses, and so on.

One would need to walk into a neighboring branch to pick up a form in order to obtain a loan from this organization, which has multiple branches across the nation.


  1. You must possess a reliable form of identification.
  2. A legitimate proof of address is required.
  3. A recent passport-sized photo of yourself is required.


Read Also: Personal Insurance Banks in Ghana

Online loans without collateral in Ghana

Banks with better Insurance Packages in Ghana


Source: http://loansinghana.com

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