Fido offers short-term credit for a first loan starting at GHS 280 for new customers.
Understanding Fido's First Loan Offering
When you apply for a first loan with Fido, the initial amount you can receive begins at GHS 280. This offering is specifically designed for new customers seeking personal credit. Fido provides a tiered approach to credit amounts, distinguishing between first-time applicants and those who have a history with the service.
Here's a breakdown of Fido's loan amounts based on customer status:
| Customer Type | Loan Amount | Key Factor Influencing Amount |
|---|---|---|
| New Customers | Starting at GHS 280 | Your Fido Score |
| Returning Customers | Up to GHS 4,000 | Your Fido Score |
Factors Influencing Your Loan Amount
While the minimum for a new customer's first loan is GHS 280, the exact amount you are offered can vary. The primary determinant for the specific credit amount you receive, whether you are a new or returning customer, is your Fido Score.
- Fido Score: This internal scoring system assesses your creditworthiness and repayment behavior. A stronger Fido Score can lead to higher loan offers, even for new customers beyond the initial GHS 280, and significantly larger amounts for returning customers, potentially reaching up to GHS 4,000.
This means that while GHS 280 is the entry point for a first loan, your financial profile as evaluated by Fido's internal scoring mechanism plays a crucial role in determining the precise credit sum available to you.
