Fido

Fido Solutions

About this app

Fido: Business Loans & Instant Funds in Uganda

Fido is secured and licensed by the Uganda Microfinance Regulatory Authority (UMRA). Whether you're managing a small business or need additional funds, Fido provides access to mobile credit and business loans without the need for paperwork or collateral.

Here’s what we offer:
1️⃣ FidoBiz: Boost your business growth with Fido Biz Loans, to move your business forward.
2️⃣ Fido Score: Build your financial track record and control your finances with Fido Score. Take action to improve your Fido Score and unlock improved offerings from Fido and our partners.
3️⃣ Personal Credit: Get an instantly pre-approved credit line starting at UGX 45,000 to meet your needs. It’s fast, easy, simple, and transparent.
Here’s how to sign up to Fido:
👉 Download the Fido App and register only once.
👉 Confirm your details with a valid ID and an address.
👉 You must be over the age of 18.
👉 Complete the Fido Score assessment.
👉 If you are a business, complete you business information.
👉 Kindly note Minimum Repayment period: 90 days and Maximum Repayment period: 180 days.
👉 We support Mobile Money wallets.

Here’s how to repay your Fido loan:

Via the Fido App:
* Log in and tap “Pay Back”, then follow the prompts.

Via Mobile Money:
Airtel: Dial *185*9#, enter Merchant ID: 4312373
MTN Dial *165*4*4#, enter Merchant Code: fido1
Steps:
1. Enter Amount to pay.
2. Enter Reference.
3. Confirm with your Mobile Money PIN.

Via USSD:
1. Dial *284*300#
2. Enter your PIN:
3. Select Option 1. Loan Service.
4. Select Option 1. Full loan payment. (To pay full amount)
5. Select a preferred wallet number in the menu.
6. Confirm with PIN.
Or
4. Select Option 2. Pay own amount. ( To pay any amount)
5. Select a preferred wallet number in the menu.
6. Enter amount
7. Confirm with PIN.

👉 Repay on time and be eligible to take another loan.

Beware of Fraudsters:
❌ Don’t pay any deposits to any agents, Fido is a 100% mobile app!
❌ Don’t use a mobile money number that does not belong to you.
❌ Don’t use someone else’s ID Card.
❌ Don’t apply for someone else.

Fido Personal Credit and FidoBiz loans are here to help individuals and entrepreneurs with their daily financial needs, not long-term debt.
* Interest Rate: The highest monthly interest rate is 2.8%, but it reduces if you repay on time. This is based on a daily rate of 0.091%.
* Processing Fee: The highest fee for processing a loan is 5.5%.

Representative Example:
A borrower who receives 600,000 UGX loan for a 90-day term payable in 3 installments, would be charged an interest rate of 0.091% per day and a 5.4% processing. Thus, the borrower would need to make three monthly payments, adding up to 666,309.3 UGX in total:
* 1st monthly payment would be 243,703.1 UGX, which includes 48,780 UGX as interest and fees and 194,923.1 UGX as principal;
* 2nd monthly payment would be 211,303.1 UGX, which includes 11,058.6 UGX as interest and 200,244.5 UGX as principal;
* 3rd monthly payment would be another 211,303.1 UGX , which includes 5,591.9 UGX as interest and 204,832.5 UGX as principal.
With each payment shown above, the principal balance would be reduced.
The borrower would also be charged an additional 6,007 UGX to cover external mobile money transaction fees and insurance services, which will be added to the first installment amount.
The borrower has the flexibility to make early repayments at any point, thus reducing interest payments.
Contact us at [e-mail] for more details.
The privacy and confidentiality of your personal information and data is important to us. We are certified by the Data Protection Commission and hold an ISO 27001 certification. Fido is licensed by the Uganda Microfinance Regulatory Authority (UMRA).
Find out more: https://ug.fido.money/legal-pages/privacy-policy-statement

Ratings and reviews

I applied for a loan and the message I got was there is an issue with the network, meanwhile I did a transaction on the same number a few seconds ago and it worked perfectly so I do not understand where the network error is coming from. If this is how I am being treated after a taking a loan from them for the first time then I can imagine how badly the subsequent requests will go. Very bad service

Applying for the loan is just a WACK. All the needed requirements detailed in the process of acquiring for the loan would be filled out, but to deny you from getting the cash, it'll ask you to snap a picture of your face, in a million times, it will pop back to tell you: shoulder not cut, face looking down, picture background light bad, so on and so forth. The annoying part is, a picture with poor quality would be shown to you as a case study. THEY JUST WANT YOU TO DOWNLOAD THE APP THAT'S ALL

Now Fido has just disappointed me. After faithfully transacting with Fido for exactly 12 months,I repaid my first installment of July just 3 hrs to midnight of the deadline day, but the system updated my payment after midnight and they claimed that I defaulted and no longer qualify for credit. Now Fido is demanding that I submit several documents inorder to qualify for credit again. Bye bye the world of credits 👋👋👋

What’s new

This update includes several improvements to enhance your experience in the app. We have fixed some bugs and improved the overall performance.