If there’s anything we must applaud technology for, Fintech must be one facet technology deserves to hurray – Since it has automated delivery and enhanced the use of financial services.
The inception of Fintech has Aid Mankind in various ways which Mobile Loan is among.
Acquiring a Loan In Africa, Precisely In Ghana Is not guaranteed to be given either from the Bank, friend or a family member – Due to this people always find it tremendously difficult to implement their business ideas.
However, the introduction of Mobile Loan Apps In Ghana has come to ease our pain.
In This Article, we shall talk about how to get an Instant loan from MetaLending.
What Is MetaLending?
Metalending is a leading instant loan app in Ghana Which was launched on the 5th of November, 2021. As of the time of writing this article, MetaLending top Charts of mobile lending app in Ghana on Google Play Store, with the likes of Sikapurse, Fido loan and GhanaLending behind it.
Who Is Eligible For MetaLending Loan?
The Eligibility of the MetaLending Loan Application are:
- The Applicant Must be a Ghana Resident
- The Applicant Must be at the age of 18+ years old.
- The Applicant Must State His/Her Monthly Income Source.
What Makes MetaLending Loan Better than Its Competitors?
You might have heard of lots of Mobile Loan apps in Ghana, So, You may be wondering why you should choose MetaLending Loan Over the Others.
Below are the reason why you should Choose MetaLending;
- They Have No Hidden Charges
- You can get a loan of up to Gh¢ 5,000
- 10 Days Tenure which is a bit better than that of Sikapurse(8 Days), LendingPapa(7days)
- They Are Available 24/7
- They Are Secure, Reliable and Flexible
- They Provide Credit Decision.
What is the Interest Rate?
The interest rate for MetaLending loan is as stated below:
Loan amount: ￠3,000 – ￠200,000
Loan term: the shortest is 91 days, the longest is 365 days
Daily interest rate: 0.0057%
Maximum annual interest rate APR: 20.55%
Calculating the number is very easy. For example, if you choose a 12-month 10,000 loan principal, we
will show the details below:
Installment plan: 12.
Amount of expenditure: ￠99,63.002. Amount of expenditure = principal – GST – expenses ￠10,000 – ￠369.98 – 0 = ￠99,630.02.
PMT (monthly payment amount): ￠1004.6. PMT = ￠10000 x (1 + 20. 55%)/ 12 = ￠1004.6.
Total interest: ￠2055.
Total amount: ￠12055. Total amount = principal + Total interest = ￠12055.
Total interest rate: 20.55%. Total interest rate = total interest / principal * 100% =, ￠12,055 / ￠10,000 * 100% = 20.55%.
Monthly interest: 1.71%. Monthly interest = total interest rate / installment = 20.55% / 12 = 1.71%.
How To Apply For MetaLending Loan?
Now that almost all the questions buzzing your mind are answered, let’s tackle the loan application aspect!
To Apply for the MetaLending Loan, You will need to download their mobile App from Google Playstore (Click Here To Download)
After the app is successfully installed, Lunch/Open it.
MetaLending Sign up
Create an Account with MetaLending with your Phone Number, and choose Password.
Ps: When you type your phone number, you shall receive a One-time code, use that in the “Enter the OTP” Space.
After a successful MetaLending account creation, you shall see a screen similar to the one above, click on “APPLY NOW” to proceed.
It is required you take a picture of your ID card. i.e. VOTER’S ID(Old Or New). As illustrated in the below image, click on the Camera to capture your ID.
NB: Make Sure the Photo is clear and complete, you can’t modify it once you click on NEXT!
Now, Type/select Your:-
- Name (First Name, Last Name and Middle Name – If You have)
- VOTER’S ID number
- Select Your Gender
- What is Your Date Of Birth? Select that Here
- Your Email
- Alternate number (Your second Number)
- Your Marital Status (Single, Married, Divorce etc.)
- Are You a student? Choose Yes Or No
- How Many people depends on You? Select that here
- Your residential address
• On this page, Provide your company’s name or your place of work
• Enter your company’s mobile phone number, in my case, I used my own number.
• Where is your company situated, or where do you reside? Select that Here.
Under the Emergency Contacts, select two people as references. Don’t worry, they will not call them. MetaLending will only call these people when you can’t pay back your loan.
Type the Number you will like to receive your loan with, I will recommend you uses the same number you used for the account creation.
Please do check all information is accurate before you click on NEXT!
After You’ve submitted your information, the amount you qualify for shall be available in the next page.
Click on “Apply” and MetaLending Will Approve and disbursed the money into your momo account in few minutes.
MetaLending Contact Info
You can reach out to MetaLending Support team via any of the mediums below;
E-mail: [email protected]
Mobile: +233 0500881880.
We are done for today, I hope this article helps you get an instant loan from MetaLending. However, You can as well try these Four lenders (Click Here) , Bloomkcash (Click Here), GhanaLending (Click here), LendingPapa (Click Here), SikaPurse (Click Here) and WohiaSika (Click Here)