EchoLoan is an online secured lending app in Uganda.

Latest Version

Version
Update
Jun 02, 2023
Developer
Category
Installs
50,000+

EchoLoan-Personal Credit APP

EchoLoan is an online secured lending app. Personal user can get cash loans from EchoLoan, fast and safely, without complicated process.

Product Description:
Amount : UGX 50,000 - UGX 1,000,000
Loan Term: 3, 6, 9 and 12 months
Daily loan interest rate: 0.01%
Annual loan interest rate (APR): 24%
APR : Minimum 7% to Maximum 180%
**Example: If the loan amount is Ugx180000, the loan term is 120days, and the APR is 180%, the total service fee should be Ugx180000* 180%/3 = Ugx 108,000. The total amount must be paid: Ugx180000+Ugx180000* 180%/3=Ugx 288000

Management/Platform Fee: 0.01%

example:
If you choose a cash loan of UGX 1,000,000 for 1 year with 0.01% interest
Profit sharing: 24% = UGX 240,000
Term: 12 months / 12 times pay
Platform Fee: 12% = UGX 120,000
Total loan principal + interest = UGX 1,120,000
• Borrowers have the flexibility to prepay at any time, which may reduce the above fees

* In EchoLoan *
1. Create your account.
2. Apply in seconds.
3. Receive your loan directly into your bank account.
4. Increase your loan limit each time you repay a loan.

* Loan Eligibility *
1. Uganda citizen.
2. Over 18 years old.
3. Valid document and evidence.
4. Must have an active bank account.


* Contact us *
Address: plot 21 Elizabeth Ave, Kampala
Customer Support Email: [email protected]
Client service: 9h30 -17h, Monday to Friday.
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