Are you in need of a quick loan in Ghana? If you’re looking for a reliable and convenient way to secure up to GH₵1000 in loans, you’re in the right place.
Fido offers loans to people in Ghana that can take care of their immediate financial needs.
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How can I apply for the Fido money lending limited loan?
Ways to apply for loans differ across financial institutions. And because of this, you must follow through with the instructions they give you for the loan application. You can apply by dialing the Fido loan code *711*999# and following the instructions.
The following is how you can apply for FIDO loans:
- You can visit any of the FIDO loan branches nearby to request for the loan.
- Download the app, then fill in your details. You only need to do this once. Thereafter for subsequent applications you just need to confirm your details only.
- Apply for the loan.
- You would receive an immediate loan decision from them. If they approve your loan application, then you will receive the money instantly into your mobile money account.
What are the requirements for getting a loan from Fido Money Lending Limited?
Fido Loan has some requirements. These documents are used to evaluate your loan application and for documentation purposes.
The following are the requirements for the FIDO loans:
- Get your valid ID (voter’s ID and biometric passport)
- Bring a mobile money account that is at least 2 months old
- Be a Ghanaian or a resident in Ghana over 18 years of age.
Note: They might ask some customers to visit their branch if they can’t verify them appropriately online.
What is the minimum and maximum loan amount I can borrow?
You must consider where you can get the amount of loan you need whenever you need one. The minimum amount of loan you can get from FIDO loans is GH₵200. Whereas their maximum loan amount is GH₵1000.
What is their interest rate?
The interest rates of loans could encourage or discourage a borrower while assessing loan lenders. The interest rates of FIDO loans are usually 14% for 30 days. You’ll see it in the app before applying. However, returning customers who have an excellent credit history of paying their loans will get better interest rates. However, the lowest interest rate for FIDO loans is 8% for 30 days.
How fast can I get the Fido loans?
Before applying for any type of loan, always know how fast you can get the loan. This will help you make the right decisions as regards the timeframe you are trying to meet up. And also to know whether you’d look for another lender.
What are the features of Fido loans?
There are some features Fido loans have that make them unique in Ghana.
Fido loans have the following features:
- The loan is straightforward to obtain and apply for.
- The loan has a 30-day repayment period. The lowest loan amount is GH₵200, with a maximum loan amount of GH₵1000.
- They only allow customers to have one loan at a time and can only apply for another after paying off the previous one.
- You can use them at any time.
- Can be applied anywhere and anytime
- There are no collateral requirements, guarantors, or application fees.
- Pay on promptly and you’ll be able to increase your loan amount to GH₵600.
- They’ll deliver your money to your mobile wallet immediately.
What are the repayment terms for FIDO loans?
FIDO loans have flexible repayment terms, and the applicants are free to choose the one they prefer. The repayment terms of FIDO loans is usually between 10 and 90 days. And you can repay it in one or multiple installments. But this especially depends on your eligibility.
How can I repay the Fido loan manually?
Fido money lending has made it easy for customers to repay their Fido loans manually. They can do this using MTN Mobile money and Airtel Mobile Money.
The following is how you can repay your Fido loan manually using MTN Mobile Money:
- Dial *170#.
- Choose Option 2 for MoMoPay & Bill Payment.
- Choose option 2 for Loans to Pay Bills.
- For General Payment, choose Option 5.
- Enter the following payment code: Fido
- Enter the Amount and Reference:
- To Confirm, Enter Your Pin.
- After entering your MOMO Pin, Fido Loan will automatically debit the loan amount plus interest from your account on a monthly basis.
- You will receive an SMS notifying you that they have debited the loan from your Mobile money account.
The following is how you can repay your Fido loan manually using Airtel Mobile Money:
- Dial *501#.
- Choose: Pay Bill.
- Choose between Savings and Loans.
- Select Loans and Loan Repayment from the drop-down menu.
- Select: Repayment of a Loan
- Choose Repay Fido Loan from the drop-down menu.
- Choose Amount:
- Enter Reference: *********
- Enter Pin Code: _ _ _ _
How can I repay the Fido loan with cash?
Having seen how you can repay the Fido loan through MTN and Airtel Mobile Money. You can also repay the Fido loan with cash through the following guide:
- Visit any Zenith Bank branch close to you.
- Request a deposit slip.
- Fill out the forms with the details below:
Bank: Zenith Bank
Branch: Head Office
Account name: FIDO Money Lending Ltd
Account number: 6010159660
Note: Ensure you write your full name on the deposit slip. Besides that, give your Client ID (********) to the teller.
Why should I try out FIDO loans?
When assessing the options of loan lenders around. The most important thing for you is to make the right decision. Especially the one that will in all ramifications relieve you of stress and drama.
The following are the reasons you should try out FIDO loans:
- You can apply from any place, be it your home, office, or market.
- You can get a loan request decision within minutes.
- There are no hidden fees. The app will display to you all the costs the loan attracts.
- You no longer need to wait in bank queues and there is no paperwork.
- They do not require collateral and guarantors.
- They disburse the money instantly upon approval.
Conclusions
No longer can people only get loans from traditional banks. People used to queue up for a loan all day in banks. But unfortunately, most people go home disappointed. It is no longer the case these days, there are online platforms where you can easily get a loan. Just with your mobile phone you can get the loan you need. And FIDO loans are one of the few online platforms that disburse funds within a few minutes. However, note that prompt repayment of loans will most likely improve your chances of getting another loan in the future.