To qualify for Fido Salary Advance, you need to meet a few key requirements that help us confirm your employment status and determine your available limit. Here’s what you need:
- Be a salaried employee
- Salary Advance is designed for people who receive a regular monthly salary from an employer.
- Have an active Fido account
- You must be registered on the Fido App and have completed your ID verification.
- Meet basic employment criteria
- To be considered for Salary Advance, you must:
- Earn a minimum monthly salary above UGX 160,000
- Have worked with your employer for more than 3 months
- Meet the employer model criteria
- Your eligibility also depends on the Salary Advance model your employer falls under:
- Regular Offer:
- No employer involvement. Any salaried employee who meets the salary and tenure criteria can qualify based on their Fido profile.
- Improved Offer:
- Your employer shares a simple list of eligible staff (only names and phone numbers).
- Employees on this list may unlock higher limits.
- Salary-based limits
- Your limit depends on your salary tier and repayment behavior. Higher salaries unlock higher limits, especially under the Improved Offer.
- Good repayment behavior
- Your Salary Advance limit grows when you repay on time.
- Installments become available starting from your 4th Salary Advance.
Whether you’re on the Regular or Improved Offer, you can check your eligibility anytime in the Fido App, your available limit will be displayed on your Home Page.