Fido Loans: Get GHS 1000 Into Your MOMO Wallet Within Minutes

About Fido Loan

Fido Micro Credit (FIDO) is a financial institution based in Accra, Ghana and licensed by Bank of Ghana. FIDO provides fast and easy short-term loans, called FIDO Loans. Their customers can apply for a FIDO Loan directly from their own mobile device and receive a credit decision within minutes. 

The loan is available to artisans, micro entrepreneurs and SMEs to grow their businesses. Just a one-time verification of ID and mobile money account is necessary before disbursement of the money. No collateral or guarantors are required.

Fido Micro Credit Address And Contact Information

• No. 48 Blohum Road
• Dzorwulu, Accra, Ghana
• Near Sid Theatre and Medlab
• From Perez Chapel junction, continue down the road to Dzorwulu (inside) until you reach the T-junction.
• info@fidocredit.com
• Customer Support: 024 243 6885

Fido Micro Credit Working Hours

Operating hours
Monday-Friday: 8:00 - 17:30

Features of the Fido Loan include;

1. The loan is simple and easy to apply
2. The loan repayment term is 30 days
3. The minimum loan is GHS 200 with the maximum being GHC 1000
4. Customers can have one loan at a time and can only apply for a new one after paying the existing loan.
5. Can be applied anywhere and anytime
6. No Collateral, No guarantors, No application fees.
7. Pay on time and move up to 600 GHS loan amounts.
8. Receive your money instantly on your mobile wallet.

How To Qualify For Fido Loan

Below are the things you need before you can access the Fido Loan.

• To qualify for a FIDO Loan, you need a valid ID and Mobile Money.
• ID Type: Driver’s License, NHIA Membership, Voter ID, National ID or Passport.
• You must be a resident in Ghana over 18 years of age.
• Applicant must be 18 years and above.
• You must be registered on the MTN Mobile Money or AirtelTigo Money Service and actively use the Wallet for transactions.

How To Apply For Fido Loan

The application process for a Fido loan is simple. To obtain a loan, follow the steps outlined below. You must first install the Fido Loan mobile App in order to have the loan credited to your account within minutes.

• Launch the mobile App on your mobile APP
• On the Fido Loan Mobile App, click on request for funds
• Apply by filling the loan application in the APP with your personal and mobile money Account details.
• Receive your money instantly after filling in the required information
• Repay on time and get a higher amount for your next loan

Why Fido Loans May Reject Your Loan Request

One thing you must note is that, once you have consented to the terms and conditions of the loan agreement, Fido Micro Credit has access to your: 

• Contacts
• Locations
• Pictures
• Personal Details
• Financial Information form third Parties

Should you fill in wrong information, it can easily be detected and your loan application will not be accepted

Read also: How To Get MTN Qwikloan within Minutes

Fido Loan interest rates

Fido loan interest rates for new customers begin at 14% for 30 days; the interest amount is displayed in the app prior to applying. Returning customers with a good history of repaying Fido loans on time receive a lower interest rate on future loans; the lowest interest rate is 8% for 30 days.

How to repay your Fido Loan manually

You can repay your Fido loan manually using MTN Mobile money and Airtel Mobile Money using the guide below.

How to repay your Fido Loan using MTN Mobile Money

• Dial *170#
• Select Option 2 for MoMoPay & Pay Bill
• Select 2 for Loans to Pay Bill
• Select Option 5 for General Payment
• Enter Payment Code: Fido
• Enter Amount and Enter Reference:
• Enter Your Pin to Confirm
• After entering your MOMO Pin, the loan amount would automatically be deducted from one’s account by Fido Loan on a monthly basis plus interest.
• An SMS will be sent to notify you that the loan has been deducted from Mobile money

How to repay your Fido Loan using Airtel Mobile Money

• Dial: *501#
• Select: Pay Bill
• Select: Savings and Loans
• Select: Loans and Loan Repayment
• Select: Loan Repayment
• Select: Repay Fido Loan
• Enter Amount:
• Enter Reference: *********
• Enter Pin Code: _ _ _ _

How to repay your Fido Loan using Zenith bank

• Fido loans subscribers can repay their loans through Zenith bank using the details below
• Bank: Zenith Bank
• Branch: Head Office
• Account Name:
• FIDO Money Lending Ltd
• Account Number: 6010159660
• Source: Hypercitigh.com

How to request more Information on the Fido loan

Interested customers can request for more about Fido Loan using the steps below
Visit the Fido Loan information page here http://p.fidocredit.com/lp/?utm_source=home&utm_medium=web&utm_campaign=leadgen&n=home
Fill the form with the required information, Select your location and Click on submit.

Fido Frequently Asked Questions And Answers

Is FIDO authorized to provide loans in Ghana? 

Yes. FIDO is licensed by the Bank of Ghana to provide loans.

What are the fees to use Fido?

There are NO UPFRONT FEES for using the FIDO mobile app or applying for a FIDO Loan. We charge a processing fee which will be disclosed to the customer prior to accepting a loan, and are paid only after you get your money, when your loan is due for repayment.

What can I use the FIDO Loan for?

Customers can use the loans to grow their small businesses. Loans should not be used for illegal activities

What are the eligibility requirements?

To qualify for a FIDO Loan, you need a valid ID and Mobile Money.
ID Type: Driver’s License, NHIA Membership, Voter ID, National ID or Passport
Mobile Money account: MTN Mobile Money or AirtelTigo Money registered in your name for at least two months.

How much is the interest rate?

The interest rates for new customers start at 14% for 30 days, the interest amount is displayed in the app before applying. Returning customers having a good history of paying your loans with Fido on time get better interest rate on future loans, the lowest interest rate is 8% for 30 days.

How long does it take to approve my request?

Within one minute after submission, a credit decision will be shown on the screen.

FIDO app evaluates each loan application and reserve the right to reject some applications. The decision cannot be reversed and we can only recommend you to apply again after 2 weeks.

My request was approved. What do I have to do next?

Please read carefully the instructions displayed in the app when the loan has been approved. The instructions will either inform you to approve the loan agreement within the app to complete the process, or visit a branch for processing. Please see the Contact section for opening hours and directions to our branch.

Where and when will my FIDO Loan be paid?

After fully completing the process, the loan is paid out instantly. We will notify you by SMS of the transfer

How will I repay the FIDO Loan?

When the loan becomes due, you will have to transfer the money from your wallet following procedure below. To pay with cash, you can visit any Zenith bank branch and deposit to FIDO’s account. Remember to always use your Client ID for payment.

Cash – Zenith bank	AirtelTigo Money	MTN Mobile Money
Bank: Zenith Bank Branch: Head Office Account Name: FIDO Money Lending Ltd Account Number: 6010159660 Be sure to write your full name on the deposit slip also give your Client ID (*********) to the teller	(Must be from own wallet) Dial: *501# Select: Pay Bill Select: Savings and Loans Select: Loans and Loan Repayment Select: Loan Repayment Select: Repay Fido Loan Enter Amount: Enter Reference: ********* Enter Pin Code: _ _ _ _	(Must be from own wallet) Dial: *170# Select: MoMoPay & Pay Bill Select: Pay Bill Select: General Payment Enter Payment Code: Fido Enter Amount: Enter Reference: ********* Enter Pin Code: _ _ _ _

What will happen if I can't repay the FIDO Loan on-time?

Please contact us with any issues related to the repayment of your FIDO Loan. Customers will be charged additional penalties for late repayments. Fido reserves the right to take any legal action to recover outstanding debts and report delinquent borrowers to the appropriate agencies and/or authorities.

What is the min/max loan amount?

First time borrowers are eligible for a maximum of 200 GHC to be paid within 10 to 33 days. The loan term must be selected in the app when applying.

Paying your loan on time can get you a higher amount and reduced interest as you climb the ladder up to a maximum of 1000 GHS

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