🇺🇬 UCredit Loan App - How To Apply, Repay, Interest rate, Contacts.
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UCredit is among the digital loan apps in Uganda available in the playstore. A product from RightDeveloper released on November 2022, it has achieved 100K+ downloads with a 4.3 star rating and 600+ reviews
Pros: App receives regular updates and is considerably small with a download size of about 13MB
Cons: App requires to access some of your personal phone information in-order to function which may lead to privacy concerns
UCredit Loan Requirements/Eligibility Criteria
You are required to be a citizen of Uganda over 18 years of age with a national ID card and a mobile money account registered in your own name.
UCredit Loan Registration & Application
Download, install and launch the UCredit app from either the playstore or appstore. Use your personal information to register and apply for a loan.
Pros 1: Registration process is simple
Pros 2: Quick loan application, approval and disbursement process
Cons: Frequent loan denial rates i.e positive loan repayment behavior such as on-time repayments may not guarantee you future loan approvals
UCredit Loan Amount Limits
The amounts range from between UGX100,000 to UGX500,000
Pros 1: Loan limit increases upon timely repayments
Cons 1: Loan amount received is less compared to the actual approved loan amount since the service fee charge is deducted prior to disbursement. e.g If you apply for UGX25,000, you will receive around UGX16,000 and repay around UGX25,000
UCredit Loan Interest Rate
Interest rates of around 30%
Cons: This interest rate is considered higher compared to other digital lenders.
UCredit Loan Repayment Duration
The app has a loan repayment tenure period of eight (8) days
Cons 1: Incessant calls & SMS reminders regarding your loan due date
UCredit Loan Contact
Tel: 0762261124 / 0758346927