The instant automated loan business known as Migo Loan was formerly known as Kwikmoney or Kwikcash and was introduced in Nigeria by means of cooperation between various interbank financial institutions. mobile network and telecommunications providers to assist Nigerians in gaining access to private banking and financial institutions.
A loan of any amount between N500 and N500,000 is available to you.
The collaboration, in its most basic form, makes loans available to Nigerians that do not require any sort of qualification or guarantor.
You can acquire a loan in as little as sixty seconds or even less with Migo Loan Service. This is a speedy and uncomplicated procedure. To apply for a loan using your phone, you will need to dial a specific code. The same way that you would dial a code to check the remaining balance on your airtime.
Contents
Migo loan requirement
Migo is a Nigerian online lending platform that provides short-term loans to individuals and small businesses. To qualify for a loan from Migo, you will generally need to meet the following requirements:
- Be at least 18 years old.
- Have a valid Nigerian bank account and phone number.
- Have a regular source of income.
- Meet Migo’s creditworthiness and affordability criteria.
To apply for a loan from Migo, you will need to provide some personal and financial information, including your name, contact information, employment status, and income. You may also need to provide additional documents, such as proof of income or identification.
It’s important to note that meeting the minimum requirements for a loan from Migo does not guarantee that you will be approved for a loan. Migo will consider a range of factors when evaluating your loan application, including your credit history and ability to repay the loan.
Migo Loan terms and conditions
Before applying for a loan at one of the Best Mobile Loan Apps In Nigeria, it is important to be familiar with some of the important terms and condition of the loan. Here they are:
- You should have enough money in your account to pay off the debt before it’s due. If you can’t pay them back for some reason, you should let them know.If you are late in making payments on your loan, you will be assessed late payment fines and penalties.
- If you are unable to make payments on your loan, you grant the lender permission to communicate with everybody and everyone in your phone’s address book.
- You are giving them permission to use your personal data to calculate the amount that they owe you.
- The phone, your bank, bill payments, credit bureaus, and other institutions may all contribute to your personal data.
- Visit www.migo.money if you are solely interested in the details.
How to get a loan from Migo
Follow these steps to get a loan from Migo:
1. Dial *561#
using your mobile phone just dial *561#. The same way you dial a code to check your credit balance.
2. Select loans
You will see many options. Select loans.
3. Select request loan
On the next screen, select request loan from the options
4. Wait for loan offer
You will get a loan offer, accept, supply account details and all to get your loan.
If you don’t want to use the mobile code that was given to you, you can also use their website. Note that if you have already used the code, you will be approved for the loan and don’t need to do the steps below. Follow these steps if you’d rather do the process online than over the phone.
5. Visit the migo website loan portal
This step is for those who do not want to use the code but website. Just visit the loan portal
6. Input your phone number
Input your phone number to continue. You may be required to verify that you are human by completing a captcha.
7. Complete verification
A code will be sent to your phone. type the code into the website to verify that you own the phone number.
8. Select check loan offer
Select check loan offer and proceed to see the offers available to you
9. Provide your account number and details
Click proceed then provide your account number and all details required.
10. Get your loan!
Your loan should be arriving anytime soon. Usually within few minutes
How much can you get?
You can get a loan from ₦500 to ₦500, 000. Be aware, however, that when you make your initial inquiry, you will receive a low offer that is based on the calculation of your credit score. You will be able to get access to larger amounts of money once you have completed the initial offer, paid back your loan on time, and any subsequent loans.
Migo interest rate
The interest rate is usually from 10% and 25% of the amount of money you are getting. It is also possible for your rate to be higher or lower depending on your personal data.
Loan term
The loan term ranges from 14 to 30 days
Repayment of loan
All loans should be paid back from 14 to 30 days after it was given. That is the rule governing Kwik Money loan.
To repay loan is easy. There are many options. You can dial *561# and follow the appropriate instructions to pay back. Or visit the Kwik Money repayment portal.
You can also pay back the loan with any ATM card or in cash at any supported bank or agent.
Please note that if you do not pay your loan by the due date, you are given an automatic extension (called a “rollover”) that doubles your interest with an additional 5% late fee.
If you are having financial problems and cannot pay your loan, please dial *561# and navigate to “Extend Loan”.
Migo Head office
The head office of Migo is located at 3B Adekunle Lawal Road, Ikoyi, Lagos, Nigeria.
Migo customer care number and email
The customer care phone number is +23417002274
Customer support email is [email protected]
You can also text help to 561 from 9mobile line only
Migo code
The Migo code is *561#. With this code you can request loan, repay loan and access all the services.
Migo Loan Website
The website is located at www.migo.money
You agree
- To pay loan balances on or before the due date
- To allow use of personal data to determine loan offers
- To be subject to fees and penalties for late payment
- To allow messages too your contacts if you do not pay Visit migo.money/en-ng/get for full
- T&Cs
MIGO LOAN DISCLAIMER
- This loan is offered by our partner Fidelity Bank
- Your eligibility for the loan will be determined after a credit check by our partner
- Our partner may contact you from time to time
- Our partner may adopt any form of loan recovery process it deems necessary, and we have no control over those processes.
- Please read the terms and conditions carefully before applying for the loan
- By proceeding with a loan request, you agree to release Fidelity Bank from any liability, responsibility or claim related to the loan.
Register or Migo Loan News/Updates
To know immediately about the latest news on Migo Loan, repayment, requirements, and more news in the near future, you can subscribe to our free VoiceofNigeria email alert service to get instant updates on NPower news. Of course you can get instant email with new alerts..
Steps to Subscribe free Npower News
- First, enter your email id in the following text box
- Click on the “Register” button
- Log in to your email and verify your free subscription.
Migo Loan FAQ
What is migo loan?
Migo is an integrated lending platform that allows businesses to extend credit to consumers and small businesses within their own apps.
Migo loan ussd code
Dial *561# from any mobile phone. Confirm payment and you will receive a confirmation message for your payment.
Is Migo loan legit?
Migo Loan makes sure that all agreements are legal. So, the laws of the Federal Republic of Nigeria are used to govern and interpret these kinds of agreements. It gives its customers terms and conditions that are just as important.
How to repay migo loan?
- Dial *561# from any mobile phone.
- Select ‘Loans’
- Navigate to ‘Pay Loan’
- Select the ‘pay with phone’ option from the list of payment methods.
- Select ‘add card’ and follow the instructions on how to register a card.
- Confirm payment and you will receive a confirmation message for your payment.
Leave a Reply