Yes, you can and it’s a smart move.
At Fido, interest is calculated daily. This means you’re only charged for the number of days you actually use the credit. If you repay your loan before the due date, you’ll only pay interest up to the day you make the payment helping you reduce your total repayment amount.
Why Repaying Early (or On Time) Matters
Paying early or on time doesn’t just save you money it also helps you build a stronger credit profile. This can improve your chances of qualifying for better credit offers in the future.
Earn Rewards with Consistency Streak
You can also benefit from our Consistency Streak feature:
- A streak banner appears in your app after disbursement and after each repayment.
- When you repay your first two loans on time, you earn an airtime reward.
- The streak bar shows your progress toward the reward.
- If you miss a due date, your streak resets to zero so staying consistent is key.
How to Repay Early
- Log in to the Fido App
- Tap “Pay Back”
- Select “Full Payment” to view your updated settlement amount
Repaying early or on time helps you save on interest, earn rewards, and unlock better opportunities with Fido.
Find out more about credit payment options.