Introduction
The development of mobile technology has revolutionized the way we live and work. With smartphones in every pocket, there has never been a better time to explore personal mobile loan apps. These apps can be a great way to borrow money from companies without the need to join a long queue and provide collateral, as well as get a better understanding of your spending habits.
Some popular personal mobile loan apps include Fido Loan By Fido Solutions, GhanaLending and more.
Adding to this populous list of Instant personal loan apps in Ghana is Robin.
This article opts to give a general overview of what Robin is, their interest rate, long amount, tenure and their eligibility or requirements. – Without further ado, lets get started.
What Is Robin?
Robin is a Ghanaian-based personal loan app that allows users to get loans in minutes. The app is easy to use and offers competitive interest rates. Its an app owned by Veedeep Financial Srvices Pvt Ltd.
Robin said and I quote “All loan applications are approved and sanctioned by BOG(Bank Of Ghana) and communicated upfront during Loan application.“
Who is Eligible for Robin Loan?
The eligibility or requirements for getting an instant with Robin are as follow;
1. The applicant should be a Ghana Resident.
2. Applicant must be 18+ years old.
3. You should also have a source of monthly income.
So that is all it takes to get an instant with Robin, Now lets take a look at their interest rate, loan amount and Loan term.
Robin Loan Amount, Loan Term, Daily Interest Rate and Annual Inerest RATE.
Loan amount: 50,000 GHS – 200,000 GHS
Loan term: the shortest is 91 days, the longest is 365 days
Daily interest rate: 0.0057%
Maximum annual interest rate APR: 20.55%
Here is how to calculate the number. It is very easy. For example, if you choose a 12-month 100,000 loan principal, we
I will show the details below:
Installment plan: 12.
Principal: 100,000 GHS.
The amount of expenditure: 100,000 GHS. Amount of expenditure = principal-expenses = 100,000 GHS-0 GHS = 100,000 GHS.
10045.8 GHS (monthly payment amount) 10045.8 GHS = 100,000 GHS x (1 + 20.55%)/12
Cost: O GHS.
Total interest: 20,550 GHS.
total of 120,550 GHS. Total amount = principal + total interest = 120,550 GHS.
total interest rate: 20.55%. Total interest rate = total interest/principal * 100% =, 120,550 GHS/100,000 GHS * 100% = 20.55%.
Monthly interest: 1.71%. Monthly interest = total interest rate/amount = 20.55%/12 = 1.71%.
NOTE; ALL THE INFORMATION ARE BASED ON WHAT ROBIN HAS MADE IS AVAILABLE ON THEIR PAGE ON GOOGLE PLAY STORE.
How to apply for instant loan in Ghana with Robin?
Before you can get a loan from Robin, you must first download their mobile app onto your phone by Searching “ROBIN” once done, then do the following;
1. Create an account with Robin.
2. Apply in seconds.
3. You will receive your loan straight into your bank account.
4. You increase your loan limit every time you repay a loan on time.
Contact Robin
You can reach out to Robin via any of the mediums below.
E-mail: [email protected]
Mobile: +233 0202033474.
Where to locate ROBIN’S Office?
Robin”s Office can be located at Kawukudi, 2nd Maamobi link, Accra,Ghana
Robin Working hours
Monday to Friday: from 9:00am to 6:30pm
Saturday – Sunday: From 10:00am to 6:00pm
CONCLUSION
In conclusion, personal mobile loan apps are a convenient way for borrowers and lenders to connect. They allow borrowers to get quick access to money when they need it, and lenders can receive steady income from a small number of loans.
These apps could help improve financial literacy and access to credit in Ghana, and they could be a valuable tool for both individuals and businesses.
I hope this article helps you get the loan you needed with Robin app, thanks for reading.
