SikaPurse: Your Instant Mobile Loan App in Ghana

Frank Osei Nyarko
By Frank Osei Nyarko - NyarkoWiz 8 Min Read


In today’s fast-paced world, technology has revolutionized many aspects of our lives, and the financial sector is no exception. Fintech, in particular, has played a crucial role in automating and improving the delivery of financial services. One such innovation in the financial technology space is the emergence of mobile loan apps.

Ghana, like many other countries in Africa, has faced challenges in accessing loans from traditional sources such as banks, friends, or family members. This has made it incredibly difficult for individuals to implement their business ideas and achieve financial independence. However, with the introduction of mobile loan apps in Ghana, the process of acquiring a loan has become significantly easier.

In this article, we will delve into the world of mobile loans in Ghana, focusing on SikaPurse, an instant mobile loan app that offers flexible loan products to Ghanaian residents.

What is SikaPurse?

SikaPurse is a leading mobile loan app in Ghana that provides instant access to loans through a user-friendly mobile application. The app offers a range of loan products, including online loans in Ghana, Super Loan, and Better Loans.

With SikaPurse, individuals can conveniently apply for loans and receive funds directly into their bank accounts, eliminating the need for lengthy paperwork and waiting periods.

Eligibility for SikaPurse Loan

To be eligible for a SikaPurse loan, applicants must meet certain criteria. These criteria include:

  • Ghana Residency: The applicant must be a resident of Ghana.
  • Age Requirement: The applicant must be between the ages of 22 and 55.
  • Monthly Income: The applicant must have a verifiable source of monthly income.

By ensuring that applicants meet these criteria, SikaPurse aims to provide loans to individuals who are capable of repaying them.

Advantages of SikaPurse Loan

With numerous mobile loan apps available in Ghana, you may be wondering why you should choose SikaPurse over its competitors. Here are some compelling reasons to opt for SikaPurse:

  • No Hidden Charges: SikaPurse is transparent about its fees and charges, ensuring that borrowers understand the terms and conditions of their loans.
  • Higher Loan Amounts: SikaPurse allows borrowers to access loans of up to Gh¢ 5,000, providing them with the necessary funds to meet their financial needs.
  • Flexible Repayment Tenure: Borrowers have the freedom to choose their desired repayment tenure, allowing them to comfortably repay their loans.
  • 24/7 Availability: SikaPurse is available round the clock, ensuring that borrowers can apply for loans at their convenience.
  • Security and Reliability: SikaPurse prioritizes the security of borrowers’ personal and financial information, providing a safe and reliable platform for loan applications.
  • Credit Decision: SikaPurse employs a quick and efficient credit decision process, ensuring that borrowers receive timely feedback on their loan applications.

These advantages make SikaPurse a top choice for individuals seeking instant mobile loans in Ghana.

Interest Rates

Before applying for a loan, it is crucial to understand the associated interest rates. SikaPurse offers competitive interest rates, starting from 8% to 25% per annum. The specific interest rate depends on various factors, including the loan amount and repayment tenure.

For example, if you apply for a loan of Gh¢ 5,000 with a 90-day term and an annual interest rate of 10%, the daily interest rate would be calculated as follows: 10%/365 = 0.027%. The interest for 90 days would amount to 5,000 x 10%/365 x 90 = Gh¢ 123. The total repayment would be 5,000 + 123 = Gh¢ 5,123.

It is essential to carefully consider the interest rates and repayment terms before committing to a loan.

How to Apply for a SikaPurse Loan

Now that you understand the benefits and eligibility requirements of a SikaPurse loan, let’s explore the loan application process. Follow these steps to apply for a loan through the SikaPurse mobile app:

  1. Download the SikaPurse App: Visit the Google Play Store and search for “SikaPurse Loan App.” Download and install the app on your mobile device.
  2. Create an Account: Open the SikaPurse app and sign up for an account. Fill in the required details, agree to the privacy policy, and submit the information. You will receive a one-time code on your registered phone number, which you will need to enter to complete the signup process.
  3. Provide Personal Information: Once your account is created, you will be prompted to provide personal information. This includes your full name, voter’s ID number, gender, and date of birth. Ensure that all information is accurate before proceeding.
  4. Company Details: Next, you will need to provide details about your current place of work or company. This includes the company name, mobile phone number, and location.
  5. Emergency Contacts: Select two individuals as emergency contacts who can be reached in case you are unable to repay your loan. It is important to choose reliable individuals who can be contacted when necessary.
  6. Bank Information: Enter the details of the bank account where you want the loan amount to be disbursed. This includes the bank name, branch name, and account number. Additionally, provide your email address for communication purposes.
  7. Save and Submit: Review all the information you have entered and ensure its accuracy. Once you are satisfied, click on the “Save” button and follow the prompts to complete the loan application process.


SikaPurse is revolutionizing the loan application process in Ghana by providing individuals with a convenient and instant mobile loan app. With its flexible loan products, transparent terms, and efficient credit decision process, SikaPurse is a reliable choice for those in need of quick financial assistance. By following the simple steps outlined in this article, you can easily apply for a loan through the SikaPurse mobile app and receive funds directly into your bank account.

Remember, while SikaPurse offers a seamless loan experience, it is crucial to borrow responsibly and only take on loans that you can comfortably repay. Make sure to carefully consider the interest rates, repayment terms, and your financial capacity before committing to a loan.

For more information on mobile loan apps in Ghana, be sure to visit our sister blog

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