Gone were the days when mobile phones were only used for only two things; Making and receiving calls.
In these modern Days, Mobile Phones can perform many tasks only computers could have achieved in those days, from Browsing the Internet, learning, marketing, and trading goods, watching videos, and lots more.
Another exciting feature Mobile phone has, we can now apply and receive loans through our Smartphones.
Talking of Applying and Receiving, which this article is solely about, several mobile loan companies in Ghana have made it easy to get an instant loan in under 5 minutes.
These Mobile Loan Companies Ranges from MTN Qwik Loan to Xpress Loan, Fido Money, Lending Papa, Vodafone Ready Loan and Carbon.
In this article, we shall specifically look at another fast-rising loan company In Ghana, Which gives loans up to Gh¢ 1,000 straight into your mobile money wallet with no collateral, no guarantors, or any form of a physical meeting.
Table of Contents
Bloomkash
Bloomkash is an instant personal loan platform for Ghana Mobile Users; once you have a smartphone, Bloomkash is there to fulfill your financial needs 24/7 Completely Online.
All you have to do is to download their app onto your smartphone, preferably an Android Phone, to enjoy this Swift loan Bloomkash Provides.
Every Borrower have the chance of getting a Gh¢1,000 loan from Bloomkash.
How To Apply for Bloomkash Loan?
You Might be wondering how to apply for Bloomkash Loan successfully; as Stated earlier, you will need a smartphone, preferably an Android phone which you can download their app from the google play store – Once you’ve got your Android phone ready, you can proceed with the steps below:-
- Head Over to Google Play to download the (BloomKash) App, or you can CLICK HERE to download it.
- Have the Bloomkash App fully and correctly Installed
- Launch or Open the Application and Click on ‘Apply Now
- Enter Your Mobile Money number in the provided space in the Bloomkash App.
- Bloomkash will send An SMS containing a Confirmation Code to you; kindly copy and paste it into the space in the App. NB: Sometimes, The code won’t come in the first attempt; click on ‘Resend’ for another code to be sent.
- Bloomkash will now ask for permission to access your location, photos, camera, your contacts, and other things – Please approve all and proceed.
- Now, on this page, click on ‘Apply for a loan.’
- Fill in your names;- first name, your surname and middle name(your other names), Your Gender, ID Credentials, Your residential address, your employment status, your monthly income, the date your salary is paid, and select if you have an outstanding loan or not and click on NEXT.
- Emergency Contacts, Select someone close to you who the company can call should in case your loan repayments becomes a problem. (In most cases, they may call this person before the money is disbursed to you) Note that selecting this will automatically take you to your contacts list so you can choose the emergency contact
- You must Select another Emergency contact like you did in Step 9 Above. Although, they may only call only one of them.
- If all the details you provided are accurate, you should now see the page where the amount you qualify for, the amount you will repay, and other conditions you need to know will appear here
- You like the terms and the repayment Amount on this screen? Then click on ‘Apply Now‘
Well done, your loan is now processed, and you should receive the money in your Mobile Money Wallet in few minutes if you were approved.
FAQ
Q. Bloomkash Loan Eligibility
Ans: To be eligible for a Bloomkash loan, you must be a Ghana resident at the age of 20 to 55 years old with a source of monthly income.
Q. What is Bloomkash’s Loan Tenure?
Ans: You are required to repay your loan from 91 days to 365 Day
Q. What is the minimum/maximum amount bloomkash loan gives?
And: Bloomkash can give borrowers a minimum amount of Gh¢ 65 loan and a maximum amount of Gh¢ 1,000 loan.
Q. What is the Interest rate of Bloomkash Loan?
Ans: With a minimum of 0.1% up to 1% their interest rate is calculated on a daily basis. Their Annual interest rates from 36.5% to 360% – Origination Fee: Range from GHC 23.7 – GHC 365 for one-time charge
For example, 91-day loan payment terms have a processing fee of 36.5% and interest of 2.8%. For the loan processed with principal amount of GHC 65, the processing fee would be GHC 23.7, the interest would be GHC 1.8, the total amount due would be GHC 90.5
Conclusion
Loans can help sort out an emergency, but acquiring a bank loan comes with a massive cost of processing fees and collateral and several ups and downs. Which usually makes it difficult to get a loan to deal with urgent situations.
However, Bloomkash has broken that barrier by introducing an online lending platform to help people get a seemingly instant loan from Gh¢ 65 to Gh¢ 1,000 to tackle difficult times in their lives.
Since we looked at the procedures of getting an instant loan from bloomkash, I hope this article was helpful? If so, kindly share with friends and family through your social media handles.
Your thought are humbly welcome – let’s hear from you through the comments section below.
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