| Interest Rate | 25% |
| Duration | From 7 days |
| Access Level | Public |
| Company Name | SweetLoan |
| Phone 1 | |
| Phone 2 | |
| Website or Store | |
| Address | |
| Category | Very High Interest Rate |
| Company Email | |
| Views | 6 |
Sweet Loan
Training Videos
Frequently Asked Questions
About Sweet Loan
SweetLoan is a mobile-based lending platform designed to provide Ugandans with instant personal loans directly through their smartphones. Whether you need to cover emergency expenses, pay overdue bills, or handle unexpected costs like car repairs, SweetLoan offers a quick and accessible financial solution without requiring a credit card .
The app is available for download on the Google Play Store and serves borrowers across Uganda with a simple, user-friendly application process.
Key Features at a Glance
| Feature | Details |
|---|---|
| Loan Amount | UGX 90,000 – UGX 600,000 |
| Loan Period | 90 days (minimum) – 365 days (maximum) |
| Annual Percentage Rate (APR) | 12% – 50% |
| Interest Fee | 0% |
| Age Requirement | 18 – 55 years |
| Credit Card Required | No |
Source: SweetLoan app description
How It Works – Simple Steps
Getting a loan with SweetLoan takes just a few minutes. Follow these steps:
| Step | Action |
|---|---|
| 1 | Download the SweetLoan app from Google Play Store |
| 2 | Register with your phone number and basic information |
| 3 | Request your desired loan amount (UGX 90,000 – UGX 600,000) |
| 4 | Ensure you meet the age requirement (20 – 55 years) |
| 5 | Receive cash directly to your mobile money account or bank |
Once approved, funds are disbursed quickly so you can address your financial needs without delay .
Loan Calculation Example
To help you understand the cost of borrowing, here is a detailed example:
| Parameter | Value |
|---|---|
| Loan Principal | UGX 160,000 |
| Loan Period | 180 days |
| APR | 50% |
| Total Service Fee | UGX 160,000 × 50% ÷ 2 = UGX 40,000 |
| Total Repayment Amount | UGX 160,000 + UGX 40,000 = UGX 200,000 |
Repayment Options
| Option | Calculation | Amount |
|---|---|---|
| One-time repayment (after 180 days) | Full amount due | UGX 200,000 |
| Monthly installments | UGX 200,000 ÷ 6 months | UGX 33,333.33 per month |
Note: The APR of 50% is applied proportionally based on the loan duration. For a 180-day loan (half a year), the effective fee is 50% ÷ 2 = 25% of the principal.
Why Choose SweetLoan?
SweetLoan positions itself as an accessible alternative to traditional banking with several advantages:
No Credit Card Required – You don't need a bank account or credit history to apply. The app is designed for Ugandans who may not have access to traditional financial services .
24/7 Availability – Borrow money at any time of day or night without visiting a physical branch.
Flexible Repayment – Choose between one-time repayment at the end of your loan term or monthly installments.
Quick Processing – The application process is entirely digital, eliminating paperwork and long waiting times.
Addresses Real Needs – Whether it's overdue bills, emergency repairs, school fees, or business capital, SweetLoan provides funds when you need them most.
Eligibility Requirements
To qualify for a loan through SweetLoan, applicants must meet the following criteria:
| Requirement | Detail |
|---|---|
| Age | 20 – 55 years (minimum 18 years old per product terms) |
| Residency | Must be a resident of Uganda |
| Identification | Valid national ID or other government-issued ID |
| Mobile Money Account | Active MTN or Airtel mobile money account for fund receipt |
| Phone Number | Active Ugandan mobile number for registration and verification |
Reviews
Related Loan Companies
Branch
Carbon
IMoney
Sokoloan
Loan Naira
Umba
.webp)
Xcrosscash
Palmcredit
Quick Updates
