Mach Loan Details :
In a period where you need money to settle debt or bills and cannot go the bank, Mach is a mobile app that can help you borrow an amount of money to sort out such issues anytime, anywhere. On Mach Loan app, applying and getting an instant loan is quite simple. No stress you can comfortably apply for a loan and receive it in 5 minutes by downloading or installing the app on your smart phone and apply with it.
And in this post, I am going to teach you how to use the Mach app to get an instant loan to solve the emergency aroused problem. Let’s start!!!
All That You Need To Know About Mach Loan App.
Before you will use any loan app to apply for a loan, you need to know about the following before using it.
* the minimum and maximum amount of money they offer.
* The Repayment time( Loan Tenure).
* the Interest rate
* eligibility requirements
* and how to apply with the app
*contact details ( how you can contact them for help when you trap when using the app).
Mach Loan characteristics :
Loan Amount : The minimum loan amount Mach offers is Gh¢5,000 and the maximum amount is also Gh¢ 350,000 with a small interest attached to it.
Loan Interest Rates : The Annual Percentage Rate ( APR) applied on Mach Loans which a customer will pay ranges from 0.0057% ( this percentage is taken in a daily basis) up to 20.55% highest.
Mach Loan Tenure: The repayment time a customer is asign to repay a loan with the interest is ranging from 91 days minimum to 360 days maximum.
In Summary :
Amount: 5000GHS – 350,000GHS
Term: the shortest is 91 days, the longest is 365 days
Daily interest rate: 0.0057%
Maximum annual interest rate APR: 20.55%
Example of Mach loans :
If you choose a 12-month 100,000 loan principal, this is the details they
will show you below:
Installment plan: 12.
Principal: 100,000 GHS.
Amount of expenditure: 100,000 GHS. Amount of expenditure = principal – expenses 100,000 GHS – 0 GHS = 100,000 GHS.
PMT (monthly payment amount): 10045.8 GHS. PMT = 100,000 GHS x (1 + 20. 55%)/ 12 = 10045.8 GHS.
Total interest: 20,550 GHS.
Total amount: 120,550 GHS. Total amount = principal + Total interest = 120,550 GHS.
Total interest rate: 20.55%. Total interest rate = total interest / principal * 100% =, 120,550 GHS / 100,000 GHS * 100% = 20.55%.
Monthly interest: 1.71%. Monthly interest = total interest rate / installment = 20.55% / 12 = 1.71%.
Who Is Eligible for Mach loan in Ghana?
Mach Loan eligibility is very simple. They do not required for a lot.
- Citizen of Ghana
- Source of monthly income
- And you should be above 18 years.
With this criteria, you are good to go.
Mach Loan Contact Details :
As I said earlier, when trapp, facing a problem or having suggestions, you can reach out to Mach on the following
Tel: +233 0508647578
Email: [email protected]
Address: F27H+CH5, Techiman-Tamale Rd，Tanoso, Ghana.
How To Apply For Mach Loan successfully.
- Firstly, install the Mach App from Google play store to your phone.
- Open the app on your phone and fill in with your details to create an account.
- Choose the amount you want borrow and submit.
- When you are approve, your loan amount will be paid directly into your account and will be notify with an Sms.
To wrap up, the introduction of mobile apps has helped mankind a lot where we sit comfortably in our various homes and apply and get an instant loan anywhere anytime. Technology & finance coming together forming Fintech needs to be applaud for this comfortable living in this our time.
And borrowing with these apps saves time, energy and does not in involve paperwork nor guarantor. So never hesitate to take a loan with these apps or Mach Loan app. They are secure, convenient and easy.
Don’t forget to share this post on your social media pages to save other people’s life.
You can also Read more on this page https://loanfavegh.com/wp-admin/post.php?post=57&action=edit
You can apply for this loan tooLoan:Top mobile loan apps to borrow with in South Africa in 2022