How to get started with Fido instant loan

Fido instant loans are an incredible option to people looking for easy quick credit top-up in Uganda and Ghana. So, if you are considering taking your next loan with Fido, we have a quick guide for you before you get started. We will help you find out what the interest rate Fido instant loan app offers in Ghana and Uganda, repayment periods available, loan limit and how to apply for a loan.

At the end, you will have a clear understanding whether to choose Fido instant loan app or choose from a myriad of other loan app options in Ghana or Uganda.

What is Fido loan app?

Fido Loan is a financial product provided by Fido Money Lending Limited, a financial technology (fintech) company based in Ghana and operating in Uganda. Fido Money Lending Limited offers microloans to individuals through its mobile application.

How does Fido loan work?

Fido Loan is designed to provide quick and convenient access to small loans to individuals in Uganda and Ghana who may not have access to traditional banking services or who require immediate financial assistance. The loans offered by Fido are typically short-term and are intended to meet urgent financial needs, such as unexpected expenses or emergencies.

How do I borrow money from Fido loan app?

To borrow money from Fido loan app online in Ghana and Uganda, simply follow the steps below

1. First, you will need to download the Fido instant loan app from Google play store
2. Launch the application and register for your Fido loan account
3. Then, verify your number to complete the registration process on the app
4. After registration, you’ll be asked to provide personal information, such as your name, date of birth, address, and identification details (such as a national ID or passport).
5. Now, navigate to the loan application section within the app.
6. Follow the instructions to fill out the loan application form. You may need to provide details about the loan amount you’re requesting and the purpose of the loan.
7. Provide the required information and documents, and finally submit your loan application.
8. Lastly, you will have to wait for approval before your requested loan amount reaches your account.

How much does Fido give on first loan?

In Ghana, Fido instant loan app will offer you 200 GHS the first time you ask for a loan with them. However, this loan amount will increase the next time you want to take a loan with Fido in Ghana.

Who qualifies for Fido loans?

If you are from Uganda or Ghana, you must be above 18 years of age, a registered citizen possessing a valid national ID, with an active mobile money number registered in your names, and of sound mind.

How long does it take for Fido loan to be approved?

It will take a few minutes for your loan application to be approved. Once it is approved, you will receive your loan amount top-up within the next few minutes to hours depending on your loan amount and requirements.

What is Fido instant loan app credit limit?

Fido instant loan app offers a credit top-up limit ranging from UGX 40,000 to UGX 600,000 in Uganda repayable between 90 days (minimum repayment) and 365 days (maximum repayment) depending on your loan amount.

What is the interest rate of Fido instant loan app?

Fido instant loan app offers an interest rate ranging from 0.466% per day for new clients and 0.386% for returning borrowers depending on your loan amount.