Just like MTN, Vodafone also do give their loyal subscribers mobile money loans as well. Their loan is named the Vodafone Ready loan. In this guide we will be enlightening our readers on everything they are willing to know about the Ready loan as well as the short code to get access to this service.
Vodafone loans procedures are seen to be similar to that of the MTN mobile money loans. They give these instant loans to their loyal customers who frequently uses the Vodafone mobile money service.
There are few other requirements to reach in order to get these loans. Let’s check them out.
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Requirements To Apply For Vodafone Cash Loans
1. Firstly, you have to be a Vodafone subscriber.
2. You have to be 18 years or above
3. Your Vodafone mobile money wallet has to be frequently used to perform transactions in order to be eligible to take loans.
4. Your account has to be at least 2 months old according to Vodafone
Short code To Access Vodafone Cash Loans (Ready Loans)
The short code to access the ready loan is currently *110*5#. Or you can simply dial *110# first and then select option 5 thus, Financial services after.
How To Apply For Vodafone Cash Loans (Ready Loans)
Once you reach the above requirements mentioned, you can try to apply for the ready loans and see if you’re eligible. Follow the below steps to request for a ready loan;
1. Dial *110#
2. Select Option 5 (Financial services)
3. Select Option 3 (Ready loans)
4. Select Option 2 (loan request)
5. Now you proceed and then select the preferred amount you are willing to borrow.
6. Once confirmed, you’ll receive a success message and the exact amount will be disbursed into your Vodafone cash account within minutes.
How To Repay Vodafone Cash Loans (Ready Loan)
On the Vodafone Ready loan terms and conditions page, they stated clearly, that all loans taken from them has to be paid only through Vodafone cash. And has to be through the Vodafone number that request and took the loan.
This means you can not repay their loans at the bank. Also, they made it clear that loans can be repaid early before the deadline line give, thus, intentionally making payment to settle the debt.
Or you will have to load the exact amount in your wallet and then when the deadline is up, they will deduct the same amount.
Follow the steps below to repay your loans on Vodafone;
1. Dial *110# and send
2. Select Option 5 (Financial services)
3. Select Option 3 (Ready Loans)
4. Now proceed to repay the amount borrowed. Once payment is confirmed you’ll receive an alert.
You can also decide to stick to the second option we mentioned earlier, thus, load the exact money in your wallet and when the time is up, they will deduct their money automatically.
Few Facts You Need To Know About The Ready Loans By Vodafone
1. You have to be 18 years or above and your account has to be up and running for at least two months.
2. All loans are given for 30 days. You will have to make payment else, you will attract penalty that’s going to increase the amount of your old loan.
3. Interest on loans are not less than 7% and late payment of loans can attract 12.5% penalty. Interest rates on loans will be displayed to you before you confirm to take the loan.
4. All loans have to be repaid through Vodafone cash not any bank etc…
5. All compliant scan call 100 thus, their customer call center to get their issues sorted out.
6. Once your loan request accepted, you’ll receive the exact amount in your Vodafone cash wallet within minutes.
To wraps things up, Vodafone Ghana also give out amazing loans to their loyal customers just like other telecommunication networks in the country.
In this guide, we touched on almost everything you need to know about the Vodafone loans thus, the Ready loans. Its requirement, short code to access this service, how to apply for a loan and how to repay your loans and finally, some facts you need to know about this loan.
You may not be qualified to take this loan, but you need money urgently to get something sorted out, we will recommend you also check out our article on the best mobile money loan apps in Ghana and Nigeria.
We are not giving a 100% assurance that this procedure is going to work for everybody. We won’t be responsible in case of any financial loss. Also, the info on this page is not from a certified financial backer
Hi I’m Michael, a digital marketer and a webmaster at Bronze-review. I have a degree in Political science and Information science. I’m an introvert type that enjoys listening to music whiles working on blogs. Even though I didn’t read marketing or computer science in school, I’m very much interested in digital marketing and technology related stuff. You can contact me on bronzegroupsteam1@gmail.com.
