| Interest Rate | 30% |
| Duration | From 7 Days |
| Access Level | Public |
| Company Name | Peamoney developer |
| Phone 1 | +233 0503494465 |
| Phone 2 | |
| Website or Store | |
| Address | kkPu1156-2makom, Ghana |
| Category | Mild Loan |
| Company Email | PeamoneyGhanaservice@outlook.com |
| Views | 1,934 |
Pea Money offers a variety of online loan products tailored to meet your financial needs in Ghana. Whether you need quick cash for unexpected expenses, an urgent purchase, or seizing a timely opportunity, Pea Money provides a flexible, transparent, and easy-to-use loan service.
Loan Details:
- Loan Amount: From a minimum of 1,000 GHS to a maximum of 10,000 GHS
- Loan Term: Choose a repayment period ranging from 120 days to 360 days
- Interest Rate: Annual interest rate varies between 24% and 31%
- Maximum Interest Rate:
- Daily interest rate: 0.086%
- Monthly interest rate: 2.58%
- Annualized interest rate: 31%
Example Calculation:
For a loan of 1,000 GHS over 180 days:
- Principal Amount: 1,000 GHS
- Interest Calculation: 1,000 GHS x 31% / 360 x 180 days = 154.8 GHS
- Total Interest: 154.8 GHS
- Total Repayment Amount: 1,154.8 GHS
- Total Interest Rate: 31%
Eligibility Requirements:
To apply for a loan with Pea Money, you must meet the following criteria:
- Be a legal resident of Ghana
- Aged between 20 and 65 years old
- Have a fixed and verifiable income
- Possess valid identity documents
- Have a valid bank account
How to Apply for a Loan:
- Fill Out Information: Complete your loan application online and apply for a credit quota.
- Verification Process: Authenticate your identity through the app.
- Fast Approval: Once verified, your loan will be approved quickly, and you’ll receive your credit quota.
Why Choose Pea Money?
- Available 24/7: Our service operates around the clock to meet your needs anytime.
- Privacy Protection: Your personal information is safeguarded and treated with the highest security standards.
- No Collateral Required: No need for collateral, paperwork, or hidden fees.
- Transparent Interest Rates: We provide clear information on interest rates and fees, ensuring there are no surprises.
Why Pea Money is Right for You:
Need fast cash for a purchase, unexpected bills, or seizing a limited-time opportunity? With Pea Money, you can get quick and easy loans without sacrificing your lifestyle. Our application process is simple, and we offer convenient repayment terms designed to fit your financial situation.
Ready to Apply?
Download the Pea Money app today, complete your application, and get the cash you need in no time!
Contact Us:
- Phone: +233 0503494465
- Email: PeamoneyGhanaservice@outlook.com
- Address: kkPu1156-2makom, Ghana
Expert Counsel
Loan apps may seem like a quick solution for cash, but they often come with serious risks. Here are 10 important tips to keep in mind when dealing with online loan apps:
1. Only Download Loan Apps from Official Sources
Never download loan apps from sources outside the Google Play Store. Downloading from unofficial sites increases the risk of cyberbullying, as these apps may misuse your personal information, including contacting people in your address book without consent.
2. Be Prepared for Harassment if You're Late on Payments
Even if you’re just a day late, you can expect to receive a barrage of aggressive and unpleasant messages, particularly on WhatsApp. If the harassment escalates, don't hesitate to block the sender to protect your peace of mind.
3. Extremely Short Repayment Periods
Most loan apps offer repayment periods between 6 and 14 days, making it difficult for borrowers to meet their payment deadlines. This short repayment window often traps people in a cycle of debt
4. High Overdue Interest Rates
If you miss a payment, expect daily overdue interest rates between 5% and 7%. These high rates make it incredibly easy to spiral further into debt.
5. Reputation Damage is Their Leverage
Once a loan app has publicly shamed or tarnished your reputation by sending messages to your contacts, their goal has often been achieved. At this point, some borrowers choose not to repay the loan since the damage is already done. You can also generate a disclaimer to counter any false claims made by the app.
6. Don’t Borrow from Other Loan Apps to Repay Your Debts
Taking out new loans from other apps to settle existing debts will only worsen your financial situation. This strategy leads to a deeper cycle of borrowing and repaying.
7. Use Truecaller to Block Harassing Calls
Truecaller is an effective tool for screening and blocking calls from loan apps. This will help you avoid unnecessary stress and harassment from lenders.
8. Break the Cycle by Stopping Borrowing Altogether
The best way to escape the clutches of loan sharks is to stop borrowing entirely. It may be difficult, but cutting off access to these predatory loans is key to regaining control of your finances.
9. Block and Report Harassers
If you receive harassing messages on WhatsApp, block the sender and report them directly to WhatsApp and the Google Play Store. This helps prevent others from becoming victims of the same predatory practices.
10. Avoid Loan Apps Altogether
Loan apps are often designed to trap you in a cycle of debt, ruin your finances, and exploit your personal information. The safest option is to steer clear of them entirely and seek more secure financial alternatives.
By following these tips, you can protect yourself from the damaging effects of predatory loan apps and safeguard your financial well-being.
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