Glo is a popular telecommunication company that offers a wide range of services to its customers. One of the services that Glo provides is the option to borrow money when in need through their “Borrow Me Credit” service. Borrowing money from Glo is a convenient option for customers who may need to make urgent calls, send text messages, or access the internet when they are out of credit. Here, we will discuss how to borrow money from Glo and address some common questions related to this service.
How to borrow money from Glo?
To borrow money from Glo, simply dial *321# on your Glo line and follow the prompt instructions. You will be asked to select how much credit you want to borrow, and the amount will be credited to your account immediately.
Can I borrow money from Glo if I am a new customer?
Yes, the “Borrow Me Credit” service is available to both new and existing Glo customers. As long as you have a Glo line, you can borrow money when needed.
What is the minimum and maximum amount I can borrow from Glo?
Glo allows customers to borrow between N50 and N2,000 depending on their borrowing history and usage of the service.
How much does Glo charge for borrowing money?
Glo charges a service fee of 15% on the amount borrowed. For example, if you borrow N100, you will receive N85 after deduction of the service fee.
Can I borrow money from Glo if I have an outstanding loan?
No, you cannot borrow money from Glo if you have an outstanding loan. You will need to repay the existing loan before you can borrow again.
What happens if I fail to repay the loan on time?
If you fail to repay the loan on time, Glo will deduct the amount borrowed plus the service fee from your account when you recharge. You may also be charged additional fees for late repayment.
Can I borrow money from Glo multiple times?
Yes, you can borrow money from Glo multiple times as long as you have repaid your previous loans and have a good borrowing history with the company.
Is there a limit to the number of times I can borrow from Glo?
There is no specific limit to the number of times you can borrow from Glo. However, the amount you can borrow may be limited based on your usage and repayment history.
Can I borrow money from Glo if I am on a prepaid or postpaid plan?
You can only borrow money from Glo if you are on a prepaid plan. Postpaid customers are not eligible for the “Borrow Me Credit” service.
Can I borrow data instead of airtime from Glo?
Currently, Glo’s “Borrow Me Credit” service only allows customers to borrow airtime. Data borrowing is not available at this time.
How quickly will I receive the borrowed money from Glo?
Once you have dialled *321# and selected the amount to borrow, the money will be credited to your account instantly.
Can I borrow money from Glo if I have a negative balance?
No, you cannot borrow money from Glo if you have a negative balance on your account. You must recharge and bring your balance to at least zero before you can borrow.
Is there a grace period for repaying the borrowed money from Glo?
Glo does not offer a specific grace period for repaying the borrowed money. It is recommended to repay the loan as soon as possible to avoid any additional charges or penalties.