FAQ

Q. Will I get access to my money before the term ends?
A. Yes, your term deposit can be terminated mid-way, however early closure penalties would be deducted from the interest accrued on your term deposit with principle untouched. 

Q. Do you offer current accounts for individuals? 
A. Yes, we offer a current account for your personal needs which can be opened with a minimum balance of GHS 50. 

Q. Do you provide investment services?
A. Yes, with our Term Deposits, you can invest an amount above GHS 100 and over 3, 6 or 12 months as you choose to roll over with principal only or principal with interest and get a certificate of investment.

Q: How long will it take to have my micro loan approved?
A : Up to 7 days if you supply all the necessary documents timely.

Q: How long will it take to have my SME loan approved?
A : Up to 15 days if you supply all the necessary documents timely.

Q: Can repayments be matched to the academic calendar?
A : Yes, repayments are aligned to the cash flow of the school.

Q: Can all the members in a group get the same loan amount?
A : Yes, all members are eligible for the same amount, it depends on the size of the business and the cash flows of each member.

Q: Can I use the same collateral provided for the existing loan for which I am a guarantor?
A : Yes, provided the collateral is sufficient to cover both loans.

Q:  Do I need a collateral for the car loan?
A :  No, you do not need a collateral for a car loan.

Q: Do you offer loans to startups?
A : No. Advans Ghana offers loans to business which have been in operation for more than twelve months.

Q: Do I need to be saving for a period of time before accessing a loan?
A: There is no need to open a savings account before accessing a loan.

Q: What is the loan amount granted for the purchase of a vehicle?
A: The loan amount depends on the value of the vehicle.

Q: How long does it take to repay a loan?
A: With the flexible repayment plan, loans can be repaid within 12-36 months while you enjoy comprehensive insurance coverage.

Q : Can I use the Mobibank service throughout the 24 hours?
A : Mobibank can be used between 5:00AM and 11:00PM. The hours between 11:01 and 4:59 Mobibank goes down and cannot be used.

Q : Can you make withdrawals using the E-cash service?
A : Yes, withdrawal can be made with pre-information to the field teller.