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

Quickloan is among the digital loan apps in Uganda available in the playstore. Developed by Quickloan and released in the playstore on January 2023, the app has a 3.6/5 star rating with 300+ reviews with 50K+ downloads.

Pros: App has reasonable size of about 6MB and receives periodic updates for efficiency

Cons: App raises privacy concern issues by requesting permission access to personal data such as phone SMS and contacts

QuickLoan Requirements/Eligibility Criteria

To be eligible, borrowers are required to be Ugandan citizens between the ages of 20-60 years

QuickLoan Registration & Application

To receive the loans, download, install and launch the Quickloan app directly from the Playstore, create your account by completing the sections with your personal details as well as uploading the necessary documentation required.

Upon completion of the registration creation process, go ahead and apply for a loan

Pros: Very easy registration and application process

Cons: Long loan approval duration i.e prolonged ‘under review’ notification

QuickLoan Amount Limits

Loan amounts range from between UGX30,000 – UGX500,000

Cons 1: Amount received is less compared to the approved loan amount since the service fee charge is deducted prior to disbursement. e.g If you apply for UGX55,000, you will receive UGX38,000 and repay UGX55,275

QuickLoan Interest Rate

Interest on disbursed loans is averagely 30%

Cons: This interest rate is considered higher compared to other digital lenders.

QuickLoan Repayment Duration

Repayment is required after 7 days of loan disbursement

Cons 1: Despite the actual respective loan due dates, debt recovery through constant calls & SMS may usually actualized 24hrs before the due date.

Cons 2: The collection agents have unprofessional conduct i.e rude and uncooperative

Cons 3: No consideration of grace period

Cons 4: Failure to make repayment on due date will result in debt shaming by calling your phone-book contacts

QuickLoan Contact Information

Email: help@quickloan.tech

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!