Fido increases maximum loan amount to GHC 1,000
Economic news of Friday, May 17, 2019
Fido’s instant loan offering has gone from one level to the next, with the public now being offered the option of accessing an instant loan of up to GHC1000 directly on their smartphone, without any guarantees or guarantors .
In a statement announcing the increase on Friday, May 17, the company explains the decision as having become necessary following demands from their loyal customers over the years.
According to Fido Deputy Managing Director Fred Frempong, âIf you’ve ever struggled to find the money to start a business, fill a cash flow shortage, or face an emergency, you’ll understand how reliable a source is. for an instant loan way. And as a company that exists to be a source of relief for individuals and businesses, we just couldn’t turn down this constant demand from our customers, hence the increase from GHC600 to GHC1000 â.
Fido brings unique technology to the financial world by allowing customers to apply for quick and easy short-term loans directly from their mobile device and receive a credit decision in minutes. The credit facility is accessible at any time, with a valid ID (voter ID card, NHIA card, passport, driver’s license or national ID card) and personal mobile money account number of the applicant being the only requirements.
Since its inception in 2014, Fido, licensed and regulated by the Bank of Ghana, has supported thousands of Ghanaian SMEs and entrepreneurs with their instant loan products and has therefore become a household name. The Fido loan starts from a maximum of 200 GHS for new applicants. The amount that could be accessed subsequently increases as one repays on time and re-requests for new loans.
For instructions on how to access the Fido installation, simply dial * 711 * 888 * 1 # on any network for a quick response.