If there’s a time a Ghanaian will need instant loan so badly, this is the time!
Things are really tough in the Country and the stagnant salary of the ordinary Ghanaian can’t handle all the pressure in the system.
Hence, the need for a third option, which is no other option than a loan an instant one precisely.
This is Mach Loan has come to ease your pain of getting instant online loan in Ghana.
What is Mach loan?
I heard you asked…,What is MachLoan?
MachLoan is a no-threshold loan platform carefully built for users with loan needs.
You can easily get a loan in just a few minutes, loan application, approval, withdrawal, and return, all in one stop!
The MachLoan APP is provided by Susee Finance (P) Limited, which provides online loan solutions for individual consumers.
Advantages Of Using The MachLoan App
- You can apply for loans online anytime andanywhere without providing any paper materials.
- The monthly interest rate is as low as 1.5%
- It only takes a few minutes to get the loan amount approved without any additional fees.
- According to your actual needs of funds, you can withdraw funds in multiple installments. If you do not withdraw funds, you will never incur any fees. Please feel free to use it.
- A variety of repayment methods are available for you to choose, making repayment easy and stress-free.
MachLoan Product Details
MachLoan Amount ranges 100GHS – 2000GHS
MachLoan Term the shortest is 91 days, the longest is 365 days according to MachLoan, but I’m their app, the actual term is 10 days so take note of this
MachLoan Daily interest rate is 0.0057%
MachLoan Maximum annual interest rate APR: 20.55%
Here’s how to calculate
Calculating the number is very easy. For example, if you choose a 12-month 100,000 loan principal, they
will show the details below:
Installment plan: 12.
Principal: 100,000 GHS.
Amount of expenditure: 100,000 GHS. Amount of expenditure = principal – expenses 100,000 GHS – 0 GHS = 100,000 GHS.
PMT (monthly payment amount): 10045.8 GHS. PMT = 100,000 GHS x (1 + 20. 55%)/ 12 = 10045.8 GHS.
Total interest: 20,550 GHS.
Total amount: 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 / installment = 20.55% / 12 = 1.71%.
How to apply for MachLoan
In other to apply for this loan provided by Mach, you must first of all download their mobile loan app from Google Play store.
Register an account and provide some basic information about yourself.
If your loan is reviewed and approved, you shall receive the fund in the MOMO Account you provided.
Safety and security measures you should know
During the loan process, MachLoan will need some information to prove your loan eligibility.
They will ask government agencies and other information to confirm your identity and credibility, and provide you with Result.
The information Mach received is only applicable to your loan application.
Mach guarantee the security of your personal data to prevent exposure.
All data is stored and transmitted through secure HTTPS encryption.
Without your consent, they will not share your personal information and data with any third party.
The platform will ensure 100% security of your information.