Migo Loan, formerly known as Kwikmoney or Kwikcash, is an instant automated lending service launched in Nigeria through an interbank partnership. mobile network and telecommunication companies to facilitate access to private banks and finance for Nigerians.
The partnership is basically providing easily accessible loans to Nigerians without any class or guarantor.
With Migo Loan Service you can get a loan in 60 seconds or more. This is a quick and easy process. You can dial a code on your phone to apply for a loan. Just like you dial a code to check your airtime balance.
Migo loan requirement
Below are the requirement to get a loan from Migo:
- Bank account
- Bank Verification Number (BVN)
- A working phone number
- You must be up to 18 years and above
- You must have been using your phone number actively for the last 90 days
- Your account number must have been in active use for the last 90 days
- You must have an account in of the following banks: First Bank, Access Bank, Diamond Bank, First City Monument Bank (FCMB), United Bank For Africa (UBA), Stanbic Bank, Wema Bank, Zenith Bank, Guaranty Trust Bank (GTB), Polaris Bank, Fidelity Bank, Heritage Bank, Union Bank, Unity Bank.
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 be able to repay the loan before the due date. If for some reason you are unable to pay back, contact them.
- If you pay your loan late, you are subject to late payment fees and penalties.
- If you default on your loan you give them the right to send messages to everyone in your phone contact.
- You authorize them to use your personal data to determine how much to owe you.
- Personal data includes: phone, your bank, bill payments, credit bureaus and more.
- For details only visit www.migo.money
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.
Alternatively, if you do not wish to use the mobile code, you can do it on their website. Note, if you have used the code already, you will get the loan, do not continue with the following steps. These steps are for people who prefer to do it online instead of with 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. But note that at your first request, you will get a low offer that will depend on your credit score calculation. After the first offer and you pay back your loan on time and so on, you will be able to access bigger funds.
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.
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
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
- 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
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
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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 ensures the legality of all agreements. Therefore, such agreements are governed by and construed in accordance with the laws of the Federal Republic of Nigeria. It provides its customers equally necessary terms and conditions.
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.