FIDO is a financial services company that provides unsecured loans to individuals and small business owners. The beauty of their loan service is its speed and simplicity. Unlike traditional banks, FIDO doesn’t require collateral, lengthy paperwork, or endless back-and-forth processes.
With FIDO, you can apply for a loan from the comfort of your home using just your smartphone.
1. Requirements
Before you apply, make sure you meet these basic criteria:
a. Age: You must be at least 18 years old.
b. Valid ID: Have a government-issued ID card, such as your Ghana Card or passport.
c. Active Mobile Money Account: FIDO disburses loans via mobile money, so you need an active account to receive your funds.
d. Steady Income Source: While collateral isn’t required, FIDO wants to be sure you can repay your loan, so having a regular income is key.
2. Download the FIDO App
The process starts with downloading the FIDO app from Google Play Store or App Store. It’s user-friendly and designed to guide you every step of the way. Once you have the app, sign up by providing your personal details and verifying your identity.
3. Apply for Your Loan
After signing up, you can proceed to apply for a loan. Here’s how:
Enter the Loan Amount: Decide how much you need—whether it’s GHS 200 for a quick fix or GHS 4,000 for a bigger expense.
Choose Your Repayment Plan: FIDO offers flexible repayment terms. Select a plan that fits your financial situation.
Submit Your Application: Once everything is set, hit the submit button.
4. Wait for Approval
This is where FIDO shines. Loan approvals are fast, often taking just a few minutes. The system uses cutting-edge technology to evaluate your application without requiring you to provide a guarantor or collateral.
If approved, your loan will be disbursed directly to your mobile money wallet.
7. Loan Repayment/strong>
Repay your credit conveniently using the app or our *998# USSD shortcode
