Call types for Mobile Money Loan
In order to apply for a loan, you will need to dial the appropriate Mobile Money short code and look for financial services, then select Loans, where you will find the Nano credit loan product.
Before applying, you will need to register by entering your voters ID number. After your ID has been verified, you will be prompted to the next screen where you will be able to apply for a loan.
We also have an alternative method, which is by downloading our smartphone application, called Nanocredit. You may use the app to register and apply for a loan. You will need to provide the number associated to your mobile money account, and your voters id in order to register.
Our scoring engine will determine if you qualify for a loan or not. This result will be determined once you authorize our product to analyze your Telephony data in order to determine your eligibility.
You can check your outstanding balance by dialing the mobile money short code, selecting financial services then Loans, then selecting Nanocredit. If you are already registered, this should take you to the home screen, where you can select “Check balance”. The check Balance feature will display the amount you owe, including the interest, and the due date of the loan.
In order to re-qualify for a loan, you must make sure to have repaid any existing loan on the Nanocredit product in a timely manner.
You can repay your loan by dialing the appropriate mobile money short code, selecting financial services, then Loans, then selecting Nanocredit. If you are already registered, this should take you to the home screen, where you can select “Make Repayment”. The “Make Repayment” feature will display the two options. Option 1 will prompt you to make a full repayment of the outstanding balance, and option 2 will prompt you to make a partial payment for the amount you wish to pay.
You can Access the Terms & Conditions by dialing the appropriate mobile money short code, selecting financial services, then Loans, then selecting Nanocredit. If you are already registered, this should take you to the home screen, where you can select “View Terms & Conditions”. The Terms & Conditions will also be available to access in our Nanocredit APP, and on our website, DCM-GH.COM
In order to increase your loan sizes, you must make sure to repay your loans on time. This will help improve your score. It is also recommended to keep your mobile money accounts steadily active.
The fees associated to the Nanocredit Product are the following:
Base interest fee – 5.9% interest on amount. The total amount due at the due date will be (Loan + Interest)
Penalty fees – 15.5% Penalty fee on the outstanding amount. The penalty fee is applied to any outstanding amount beyond the due date.
You can repay your loan by dialing the appropriate mobile money short code, selecting financial services, then Loans, then selecting Nanocredit. If you are already registered, this should take you to the home screen, where you can select “Make Repayment”. The “Make Repayment” feature will display the two options. Option 1 will prompt you to make a full repayment of the outstanding balance, and option 2 will prompt you to make a partial payment for the amount you wish to pay.
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