SikaBus Loan Review: Is SikaBus Loan App Real Or Fake
About SikaBus Loan
SikaBus Loan is one of Ghana’s new credit apps that allows people to borrow and repay money anywhere, anytime with a mobile wallet.
According To SikaBus Loan;Â SikaBus is one of the most popular lending platforms in Ghana, providing high-quality loan services to mobile users in Ghana. Once approved, you can withdraw your loan through the following channels: MTN MoMo, Vodafone Cash, and AirtelTigo wallet.
SikaBus Loan Requirements
- You need a valid ID to qualify for a SikaBus Loan. ID Type should be, Driver’s License, NHIA Membership, Voter ID, National ID, or Passport
- You must be a resident of Ghana over 18 years of age
- Mobile Money account: MTN Mobile Money or AirtelTigo Money registered in your name for at least two months.
How To Apply For SikaBus Loan
- Download The SikaBus Loan App: Download the free app from the Google Play store
- Sign Up: Set up your SikaBus Loan account by filling in your personal in the app
- Select Product: Select your loan terms and conditions
- Get Approved: Approval is in real-time. Once approved the funds will be disbursed to your Mobile Money account
SikaBus Loan Review
Be very cautious if someone tells you they can get your funds back from a scam. Sadly, funds recovery is often another type of fraud. Here are some legitimate platforms I've written about so far:
Customer Support Email: service@sikabuses.com
Address: M7XX+464, Sunyani Rd, Kumasi, Ghana
Loan Amount: Up to GH₵ 50,000
Loan Tenure: From 120 to 360 days
Interest Rate: not exceed 0.02% every day, up to 24% per annum
Processing Fees: 5% – 10% (including payment gateway fee, credit fee, and VAT). The fees will be reduced from the loan amount. Different levels with different process fees
APR: up to 24%
For example, if you borrow GH₵ 5,000 and the tenure is 120 days:
1. Total interest is GH₵ 5,000 x 120 x 0.05% = GH₵ 300
2. Processing fee is GH₵ 5,000 * 5% = GH₵ 250(including 14% IVA of processing fee).
3. You will receive GH₵ 5,000 – GH₵ 250 = GH₵ 4,750.
4. The total repayment amount is GH₵ 5,000 + GH₵ 300 = GH₵ 5,300
The exact cost will vary from person to person. It depends on the user’s credit evaluation result.
Is SikaBus Loan Real Or Fake?
Status: SikaBus Loan might be a scam. Use the app at your own risk!
SikaBus Loan App Download
Download the SikaBus Loan app from Google PlayStore
