🇺🇬 LoanGo App [2023]- How To Apply, Repay, Interest rate, Contacts.

LoanGo is among the digital loan apps in Uganda available in the playstore. Developed by LoanGo developers and released on June 2022, it has managed to garner downloads of upto 100K+ with a 3.9/5/0 star rating and over 1,000 reviews.

Pros: App receives regular updates and is considerably small with a download size of about 8MB

Cons: App requires access to some of your personal phone data which may raise privacy concerns

LoanGo Requirements/Eligibility Criteria

LoanGo is reserved for Ugandan residents between the ages of 20-60 with a valid national ID. Additional requirements include; active phone number and mobile money account

LoanGo Registration & Application

To begin using the LoanGo app, simply download and install it from the playstore.

Allow the app to access some of your phone information, complete the registration process then proceed to apply for the loan.

Pros: Easy registration and application process

LoanGo Amount Limits

LoanGo provides loan amounts ranging from a minimum of UGX60,000 to a maximum of UGX1,000,000

Pros 1: Application process is easy and straighforward

Pros 2: Approval and disbursement is done within minutes of application.

Cons 1: Received amount is less than the approved amount i.e if you get approval for loan amount of UGX60K, you will receive a lesser amount of UGX45K due to prior deduction of service fee charges

LoanGo Interest Rate

LoanGo loans have an interest rate of about 6% but attract additional charges such as 15% service fee and 9% channel fee which brings the actual interest rate to about 30%

Cons: This interest rate is very high compared to other digital lenders

LoanGo Repayment Duration

Repayment due date is set to eight (8) days

Pros: Timely repayments on or before dates may result in future loan limit increases

Cons 1: Full amount must be repaid within the due date with no option for partial repayments

Cons 2: Overdue loans may lead to debt-shaming through reaching out to your provided referees as well as phonebook contacts

Cons 3: Numerous calls & SMS from various numbers before or on due date.

Cons 4: Unprofessional collection agents who are rude and abusive

Cons 5: Failure to make repayment on due date will result in a penalty fee of 2% per day.

LoanGo Contact

Email: support@loango.vip
Tel: (256) 741667393 / (256) 393246182.

Note: The Pros & Cons provided in this review have been generated from actual playstore reviews and personal experiences from a section of our readers. We are neither associated with the loan provider nor aim to discredit it. Discretion to use/shun the app is left entirely to the borrower. Remember, Borrow Responsibly!