Fido Loan: How to Apply For GHS 1000 Loans Under 10 Minute

By | April 16, 2024

Fido Money Lending is licensed by the Bank of Ghana which offers loans to its subscribers with No Collateral, No guarantors, No application fees. Fido loan is available to salaried, contracted and self-employed professionals.

Just a one-time verification of ID and mobile money account is necessary before disbursement of the money. No collateral or guarantors are required.

What is Fido Loans?

Fido loans is a loan provided by Fido Micro Credit  a licencised financial insitution by the Bank of Ghana that provides fast, affordable and easy loans to Ghanaians for them to take care of their urgent financial need.

Fido Micro Credit extends Fido loans to individuals looking for quick & instant credit without UPFRONT FEES. Fido loan Subscribers are only charged for 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.

Features of the Fido Loan include;

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

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 request more Information on the Fido loan

Interested customers can request for more about Fido Loan using the steps below

  1. Visit the Fido Loan information page here
  2. Fill the form with the required information, Select your location and Click on submit.

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.

  1. ID Type: Driver’s License, NHIA Membership, Voter ID, National ID or Passport.
  2. You must be a resident in Ghana over 18 years of age.
  3. Applicant must be 18 years and above.
  4. 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

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

  1. Dial *170#
  2. Select Option 2 for MoMoPay & Pay Bill
  3. Select 2 for Loans to Pay Bill
  4. Select Option 5 for General Payment
  5. Enter Payment Code: Fido
  6. Enter Amount and Enter Reference:
  7. Enter Your Pin to Confirm
  8. 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.
  9. 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

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