Loans

How to apply for SikaPurse loan

SikaPurse provides a variety of credit solutions. So you can easily download and use SikaPurse to apply for online loans in Ghana. As we are in the digital era, many lenders carry out their transactions with borrowers paperless. Because of this, gone are the days borrowers used to queue up in banks to get loans. Now, they can do that from the comfort of their homes. How to apply for SikaPurse loan, requirements, loan terms, etc are all-inclusive in this article.

How to apply for the SikaPurse loan

Before you can get any loan, you must first of all apply. To apply:

  1. Download and install SikaPurse app
  2. Register an account
  3. Fill out basic information and submit
  4. Apply online
  5. Get the loan into your bank account directly
  6. Pay off your debts on schedule or complete activities to increase your credit limit and lower your interest rate.

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What are the requirements for SikaPurse loan application?

There are some requirements you must meet before you can apply for any loan. Lenders always ensure that all applicants meet certain criteria before they are selected to be offered loans. The requirements for SikaPurse loan include:

  1. You must be a Ghanaian.
  2. You must have a source of monthly income (Be a worker)
  3. Your Ghanaian documents like Ghana voters ID should be used in your application.
  4. Must be within 22-55 years old.
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What are the minimum and maximum loan amount of SikaPurse loan?

Since you seek loans to meet your financial needs, you should know the amount available you can borrow. The amount of loan lenders offers borrowers varies. Their minimum loan amount they offer is GH₵2,000. Whereas the maximum loan amount they offer is GH₵5,000.

What is the loan term of SikaPurse loan?

Before you borrow money from any lender, ensure you know the loan term. Their loan term of is 90 days (the shortest) and 365 days (the longest).

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What is the interest rate on SikaPurse loans?

All lenders place a specific interest rate for every loan they offer borrowers, and Sikapurse is inclusive. Sikapurse loans’ interest rate is from 8% to 25% per annum.

What are the benefits of SikaPurse loan?

There are some benefits borrowers can gain from getting loans from them. They include:

  1. They can lend you up to GH₵5000
  2. You can select your payment tenure
  3. It is reliable, secure, and flexible
  4. There are no hidden charges
  5. They provide a credit decision
  6. They are at your service 24 hours every day of the week.

How to repay SikaPurse loan

When you borrow money from them, you agree to repay the loan on time. This will help increase your chances of getting a loan in the future from them or any other lender. Besides, if you default on your loan (fail to repay it), it will harm your credit score.

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Now, let’s see how you can repay your SikaPurse loan:

  1. Open the their loan app. Once you are in the SikaPurse Loan app, you will see ‘Repayment.’ Kindly click on that button.
  2. On the next page, they will show you the amount you are supposed to pay. Then, to proceed click on ‘Repay Now.’

Note: As of right now, Sikapurse exclusively accepts offline payments for their loan repayment method.

How to repay SikaPurse loan using MTN Merchant Mobile Wallet

The following instructions show how you can repay your SikaPurse loan with MTN Merchant Mobile Wallet:

  1. Dial *170#
  2. Select 1 (Transfer Money)
  3. Type 1 (momo user)
  4. Input Users Number
  5. Confirm number
  6. Enter the amount
  7. Enter reference

What are Sikapurse contact details?

In order to reach SikaPurse for more inquiries, you can contact them through:

  1. Customer Service Email: [email protected]
  2. Customer Service Hotline: 0571375874
  3. Address: Mensah Wood Ave, Accra, Ghana.

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