Everything you need to know about the Fido loan app

Are you from Uganda or Ghana and require additional funds to cover your water bill? Look no further, as the Fido loan app offers a rapid, straightforward, and effortless loan application process to assist you.

Fido stands out as a complimentary finance application designed to aid entrepreneurs and individuals in obtaining swift loans without necessitating collateral, guarantors, or financial paperwork. Furthermore, Fido ensures full transparency regarding fees, empowering you to review your current expenses before proceeding with any transactions.

	Ghana	Uganda
Loan limit	Upto GH₵200	UGX 40,000 – 600,000
Repayment period	90 days – 180 days	90 days – 365 days
Interest rate	Daily at 0.098%	starts from 0.466%
Loan requirements	Download and install Fido App	Download and install Fido App

What types of services does Fido offer?

Fido Business: Boost your business growth with Fido Biz Loans, offering up to GHS 5,000 to move your business forward.

Fido Score: Build your financial track record and control of your finances. Take actions to improve your Fido Score and unlock improved offerings from Fido.

Fido Savings: Put your money to work and prepare for your future with high-interest savings product.

Personal Credit: Get an instantly pre-approved GHC100-4,000 credit line to meet your needs.

Fido Payments: Pay bills, buy data, and airtime effortlessly. Each purchase improves your Fido Score.

What is the repayment period for Fido loans?

In Uganda, loan repayment ranges from 90 days to 365 days, while Ghana’s loan repayment period is between 90 days to 180 days. These repayment periods vary with the loan amount. You can repay your credit by logging in to the Fido App and selecting the ‘Pay Back’ button.

What is the loan limit on Fido loan app ?

Uganda’s loan limit is Ugx 600,000 with a loan minimum of Ugx 40,000. Interest rates start from 0.466% per day for new clients and decreases over time for returning customers to 0.386% as you maintain good credit repayment.

In Ghana, Fido grants a credit limit of up to GH₵200 GHS—which still depends on your assessment upon application—and this can increase to GH₵3,000 GHS as you repay your loans on time. Interest rates are charged either daily at 0.098% or monthly at 2.94%.

What are the Loan Requirements for Fido Loans?

Below are the Fido loan requirements:

• Valid ID (voter’s ID, biometric passport, NHIA)
• A mobile money account that is at least 2 months old
• Be a resident of Ghana or Uganda, over 18 years of age.

What are the advantages and disadvantages of Fido Loans?

Pros	Cons
Fast application Convenient No application fees No collateral No guarantors Transparent	Privacy concerns

How can I create my Fido Account?

1. Install the Fido App on either your Android or iOS device from Play store or app store

2. Select ‘Register’ to begin the process.

3. Provide a mobile number that is registered in your name. This number will be linked to your account.

4. Next, enter the 6-digit OTP code in the SMS sent to your mobile number.

5. Create a 4-digit secret PIN code. You will use it each time you need to log in to the app.

6. Choose a security question and provide the answer to the question you have chosen.

The app supports MTN, AirtelTigo, Airtel and Vodafone mobile money accounts in Uganda and Ghana.

How can I contact Fido?

You can reach the company through their email [email protected] or at on the 7th Floor, Rumee Building, Plot 19 Lumumba Avenue, P.O. Box 114471, Kampala, Uganda.

In Ghana, you can get them Opposite SSNIT Guest House, Julius Nyerere Rd, Accra, Ghana or via their toll free number +233-0596922420 or at www.fido.money for more details.

Editor’s Remarks

Fido is licensed by the Bank of Ghana, Bank of Uganda and the National Credit Regulator (South Africa). Thus making the Fido loan app a safe and secure online borrowing platform. Their competitive and flexible interest rates simplifies loan payment and makes their loans affordable.