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Frequently Asked Questions

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 of 12GHS 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 proceeds for any purpose, except for illegal activity.

What are the eligibility requirements?

To qualify for a FIDO Loan, you need a valid ID and Mobile Money or Bank Account.

• ID Type: Driver’s License, NHIA Membership, Voter ID, National ID or Passport
• Mobile Money account: MTN Mobile Money, Tigo Cash & Airtel Money registered in your name for at least two months.
• Bank account: Original bank statement for a valid deposit account with a commercial bank in Ghana.

You must be a resident in Ghana over 18 years of age.

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 for MTN /Tigo Cash and 1 business day for all other methods. 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	Tigo Cash	MTN Mobile Money	Airtel 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: Investment and Loans Select: FIDO from list Enter Amount: Enter Reference: ********* Enter Pin Code: _ _ _ _	(Must be from own wallet) Dial: *170# Select: Pay Bill Select: General Payment Enter Payment Code: Fido Enter Amount: Enter Reference: ********* Enter Pin Code: _ _ _ _	Dial: *500# Select: Buy Goods Select: Other Enter Merchant name: 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 600 GHS.

Are you eligible?