A digital lending option for Ghanaians
Ultraloan – mobile cash loan is a free finance app in Ghana, which offers swift and convenient access to short-term loans for those in need of immediate financing. Created by Ultraloan Developer, this platform makes it easy for applicants to submit a loan request through their personal devices, which simplifies and expedites the procedure.
Similar to WantCash – Credit Loan and Fido – Online Loans App Ghana, Ultraloan – mobile cash loan offers flexible repayment terms and competitive interest rates to suit diverse financial needs. Additionally, all transactions are guaranteed secure as the app runs on a highly encrypted platform.
Quick and convenient lending service
During times of financial desperation, turning to a lending institution for a loan can often be a crucial lifeline. Ultraloan – a mobile cash loan aims to alleviate the burden by offering a streamlined loan application process that can be completed in just a few minutes. This convenient option is available to all Ghanaian citizens who are at least 18 years old, with a stable source of income and a positive credit history.
The loan amounts offered by this service range from GH₵ 100 to GH₵ 6,000, depending on the borrower’s creditworthiness. The interest rates also vary from 10 to 22 percent annually. When it comes to repayment, borrowers can choose between monthly installments or making a lump sum payment within a period of 91 to 150 days. Additionally, there is a one-time service fee of 10 to 32 percent of the loan amount.
To apply for a loan, borrowers must first register on the app and provide their personal information along with a valid ID. Once approved, the money will be swiftly transferred to their designated Ghanaian mobile wallet. However, while the app may assist borrowers with their financial needs, its loan amount falls short in comparison to other competitors. Additionally, the processing fee is comparatively higher than alternatives available in the market.
An average option
Ultraloan – mobile cash loan provides a convenient way to borrow funds to cover pressing economic issues. The app’s efficient paperless method, quick approval, and immediate fund disbursement offer a fast, reliable, and hassle-free way for borrowers to access funding whenever they need it. However, if you require a larger sum of money, this service may not be the most suitable choice for obtaining a loan.
