GHANA:Fido increases maximum loan amount to GHC1,000

The Fido instant loan offering has taken a notch higher, with the public now been offered the opportunity to access up to GHC1000 instant loan right on their smart phones, without any collateral nor guarantor.

In a statement to announce the increase Friday, May 17, the company explains the decision as one that became necessary following demands by their loyal clients over the years. 

According to the Deputy General Manager of Fido, Fred Frempong, “If you’ve ever been hard pressed for cash to start a business, bridge a cash flow gap or address an emergency, you would understand how much a reliable source for an easy and instant loan means. And as a company that exist to be a source of relief for individuals and businesses, we just couldn’t refuse this constant request from our clients, hence the increase from GHC600 to GHC1000”.

Fido brings unique technology to the financial world by allowing customers to apply for fast and easy short-term loans directly from their mobile device and receive a credit decision within minutes. The credit facility can be accessed anytime, with a valid ID (Voters ID, NHIA card, Passport, Driver's License or National ID) and an applicant’s personal mobile money account number 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 consequently become a household name. The Fido loan starts from a maximum of GHS200 for first time applicants. The amount one could access subsequently increases as one repays on time and re-apply for new loans.

For instructions on how to access the Fido facility, one could simply dial *711*888*1# on all networks for prompt response.