Are you trying to find a quick and simple approach to get credit for yourself or your company? Do you wish to stay away from the trouble of paperwork, queues, and collateral? Fido is the ideal option for you if the answer is yes.
Instant financial services, like business credit, savings, personal credit, and simple affordable payments, are provided by Fido, a licensed financial institution. Using the Fido mobile app, you can manage your accounts, apply for credit, and establish your credit history with Fido Score.
A special tool called Fido Score evaluates your financial behavior and creditworthiness based on how you engage with Fido and its partners. You can access additional advantages, such as larger loan amounts, cheaper interest rates, and better deals from Fido and its partners, the higher your Fido Score is.
In this blog post, we will show you how to borrow money or get a loan from Fido in a few simple steps.
Step 1: Download the Fido App and Register
Installing the Fido App from the Google Play Store is the first step in obtaining a loan or borrowing money from the company. The app works with Android devices and is available for free. After downloading the app, you must register using a legitimate ID and your phone number. To use Fido, you have to be older than eighteen.
Step 2: Complete the Fido Score Assessment
To find out your eligibility and loan limit, you must next finish the Fido Score assessment. The assessment comprises of a few questions concerning your financial and personal details, including your savings, expenses, and income. Additionally, throughout the assessment, you will be asked to provide Fido access to some phone data, including call logs, SMS, and contacts. Your Fido Score can be raised and your identity confirmed using this data. Fido does not disclose your information to outside parties and respects your right to privacy.
Step 3: Choose Your Loan Product and Amount
You will be presented with a list of the loan products and amounts that you are eligible for following the Fido Score assessment. Fido provides two different kinds of loans: business credit and personal credit. Any personal requirement, including paying bills, purchasing groceries, and handling emergencies, can be covered by a personal credit line. You can utilize business credit to get a loan to expand your business by paying salaries, buying inventory, or reaching new markets. You can select a loan kind and quantity based on your financial situation and demands.
Step 4: Confirm Your Loan Terms and Repayment Plan
Verify the loan terms and repayment schedule prior to receiving your loan. Fido will display the interest rate, commitment charge, processing fee, and total amount due on your loan. The repayment plan, which displays the dates and amounts of each installment, is another item you will see. Depending on your preferences and financial flow, you can opt to repay your loan in many installments or in one large payment.
Step 5: Receive Your Loan Instantly
You will receive your loan immediately in your mobile money wallet when you have verified the terms and repayment schedule. MTN, AirtelTigo, and Vodafone mobile money wallets are accepted by Fido. As long as you make timely loan repayments, you are free to spend your loan for whatever you like.
Step 6: Repay Your Loan on Time and Improve Your Fido Score
Repaying your loan on schedule and raising your Fido Score are the last steps. Fido provides multiple methods for loan repayment, including the Fido App, *998#, and the MTN, AirtelTigo, and Vodafone menus. Additionally, you can avoid paying interest by repaying your loan ahead of schedule. Your Fido Score will rise when you make on-time loan repayments, and you’ll have access to additional advantages like larger loan amounts, cheaper interest rates, and better deals from Fido and its partners.
Conclusion
Fido offers a dependable and easy option to obtain a loan or borrow money for your personal or professional purposes. Instant financial services like company credit, savings, personal credit, and simple, affordable payments are all provided by Fido. With Fido Score, you can also manage your funds and improve your financial history. To get started, all you need is a smartphone, a working ID, and a mobile money wallet.
To borrow money or get a loan from Fido, follow these simple steps:
- Install the Fido app and create an account.
- Finalize the Fido Score evaluation.
- Select the kind and size of your loan.
- Verify the conditions and payback schedule of your loan.
- Get your loan approved right away.
- Raise your Fido Score by making on-time loan repayments.
