Fly Pesa

Formerly known as “Unlimited Money Lender,” Fly Pesa was an experimental project by a financial conglomerate in Uganda. In its initial testing phase, the app encountered several challenges. However, as of now, it has gradually improved and attracted a large number of users seeking loans.

Evaluation of the advantages and disadvantages of Fly Pesa’s features:

Advantages:

• Fly Pesa is recognized for having the simplest loan conditions among all other consumer lending apps currently operating in the market. All you need is a smartphone or computer with the app installed and logged in. Then, navigate to the Registration section and provide the necessary information to apply for a loan.
• All loan applications on Fly Pesa are automatically approved using intelligent technology. This eliminates the need for lengthy waiting times. Particularly noteworthy is that once your profile is validated, you’ll receive the money in your account in less than a minute.
• One of the most appealing advantages of Fly Pesa is its significantly lower interest rates compared to the market. There are even offers with a 0.5% interest rate in some special cases.
• Whenever you encounter issues while using Fly Pesa, you can contact technical advisors. The app’s staff operates 24/7 and is always ready to assist enthusiastically.

Disadvantages:

• The initial borrowing limit for each customer is not high, making it suitable only for consumer loans rather than meeting larger financial needs such as buying a house, a car, or other significant financial requirements.

Information about loan packages

Currently, Fly Pesa is collaborating with many well-known financial apps in the hope of providing customers with the best loan experience. Although each loan package may have its own requirements, generally for small loans, you only need to meet the criteria of having valid identification documents and being over 20 years old.

Here is information about the existing loan packages on Fly Pesa, feel free to choose the most suitable package for yourself:

Package 1

Limit: UGX 50,000 – UGX 500,000

Term: minimum 6 days, maximum 24 days

Interest rate: 2% per month

Package 2

Limit: UGX 50,000 – UGX 700,000

Term: 6-36 days

Interest rate: 3% per month

Package 3

Limit: UGX 70,000 to UGX 800,000

Term: minimum 12 months, maximum 48 months

Interest rate: 3.17% per month

Package 4

Limit: UGX 90,000 to UGX 900,000

Term: 6-36 months

Interest rate: 3.75% per month

Package 5

Limit: UGX 100,000 to UGX 1,000,000

Term: minimum 12 months, maximum 18 months

Interest rate: 4.03% per month

The above are all the basic and most important information about Fly Pesa that we want to share with you, but there may be many changes upon app installation. Since this is an unofficial financial app, they often change interest rates and loan amounts regularly. Please be cautious!

Example:
Loan amount = 20,000 UGX
Loan term = 365 day
Annual interest rate = 32%
Total interest = UGX 6,400
Total amount = UGX 26,400

Contact:

Phone: 0757760178
Mail: [email protected]
Address: MH17, Gayaza -Kampala Rd, Kampala, Uganda