Getting up to 600,000 UGX deposited into your Airtel money wallet is easy with Fido Credit Uganda.
Are you in need of a quick loan? With Fido Credit Uganda, you can get up to 600,000 UGX deposited into your Airtel money wallet.
Fido loans are not meant to be used to pay off long-term debt; rather, they are designed to help individuals and company owners with short-term loans to help with their daily necessities.
Uganda Microfinance Regulatory Authority oversees Fido (UMRA).
Benefits of the Fido credit Uganda
- Loan amounts from 60,000 to 600,000 UGX are offered to sort out your important needs.
- Your loan request gets approved within 15 minutes
- You have the privilege to check the entire price before applying; there are no additional fees.
- At any time, and any place, you can use the Fido App to apply.
- No collateral, No guarantor, and No paperwork are required.
How to apply for a Fido Loan
- Download the Fido App and complete a quick registration.
- Confirm your address and ID card.
- You will immediately receive the funds into your Airtel Mobile Money account after they have been accepted.
- The app displays the interest rate and total amount owing. No extra costs.
- Get a first loan of up to 60,000 UGX.
- Every time you make a timely repayment, your loan amount grows by a maximum of 600,000 UGX.
- They lower the interest rate and provide installment payment choices as the loan amount grows. Airtel Mobile Money wallets are supported by us.
How long it takes for your Fido Loan to get approved
Once you complete and submit your loan request, approval typically takes a few minutes at most.
After you submit your loan request on the Fido App, pay close attention to the comments you get. This will help inform you of any additional steps necessary for you to receive the loan.
Fido credit Loan interest rates
The biggest loan amount carries a 101% maximum annual percentage rate (APR). Based on a daily interest rate of 0.386%, this amount reduces with prompt repayment. There is a 6,500 UGX maximum processing fee per loan.
With an interest rate of 0.386% per day plus a processing fee of 6,500 UGX, a borrower who accepts a 600,000 UGX loan for a 90-day term payable in three installments would have to repay 150,525.23 UGX in total.
The borrower is free to pay off the loan early to lower the interest rate shown above.
How to repay your Fido credit loan back
- In the Fido App, click the “Make a Payment” button, and then follow the on-screen instructions.
- To repay your debt, dial Airtel *185*9# or *165*9#.
Alternatively, you may take the actions below:
- Dial: *185*9# or *165*9#
- Enter Merchant ID: 4312373
- Enter the amount to pay:
- Enter a reference:
- Confirm with PIN.
Also, remember that you can select a loan payment plan that ranges from 10 to 33 days starting the day you apply for the loan.
Requirements to get the Fido Loan
- To apply, you must be a Ugandan citizen 18 years or older.
- You must have a valid National ID Card.
- 60 days is the minimum and 90 days is the maximum repayment period.
- Possess an active Airtel Money mobile wallet that is registered in your name.
Conclusion
You can now contact Fido Credit Uganda at info.ug@fido.money for more details.
The chances of your Fido Credit loan being approved are high, assuming you follow the instructions and meet the requirements.
In case your Fido loan request is rejected, most of the time, this is not your fault, mainly because they don’t know enough about you to grant your request.
After completing your loan request, please pay close attention to the response you receive in the Fido App. This ought to provide you with detailed instructions on how to improve your chances of being accepted.
