About Mach Loan
Mach Loan is one of Ghana’s new credit apps that allows people to borrow and repay money anywhere, anytime with a mobile wallet.
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According To Mach Loan; MachLoan APP is provided by Susee Finance (P) Limited, which provides online loan solutions for individual consumers.
MachLoan is a no-threshold loan platform carefully built for users with loan needs. You can easily get a loan in just a few minutes, loan application, approval, withdrawal, and return, all in one stop!
Mach Loan Requirements
- You need a valid ID to qualify for a Mach 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 Mach Loan
- Download The Mach Loan App: Download the free app from the Google Play store
- Sign Up: Set up your Mach 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
Mach Loan Review
Customer Support Email: MachLoan@outlook.com
Phone Number: +233 0508647578
Address: F27H+CH5, Techiman-Tamale Rd，Tanoso, Ghana
Loan Amount: GHC 5000 – GHC 350,000
Loan Terms: the shortest is 91 days, and the longest is 365 days
Daily interest rate: 0.0057%
A maximum annual interest rate APR: of 20.55%
Calculating the number is very easy. For example, if you choose a 12-month 100,000 loan principal, we will show the details 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%.
Is Mach Loan Real Or Fake?
Status: Mach Loan might be a scam. Use the app at your own risk!
Mach Loan App Download
Download the Mach Loan app from here