Migo which is formerly known as Kwikmoney or Kwikcash is an automated instant loan service that is originated from a partnership between different banks, mobile networks and telecommunication companies in Nigeria to make personal banking and access to finance easy and seamless for Nigerians. At the core of the partnership is giving easily accessible loans to Nigerians without the need of a collateral or guarantors – How to get a loan from Migo
Using Migo, you can get loans in not less than 60 seconds or more. That is how very easy and fast the process can be at its best. You can even simply dial just one code on your phone to get a loan sharp sharp, the same way you dial a code to check your data balance, airtime balance etc.
KwikMoney Loan
A quick table summary:
| Interest rate: | 10% to 25% |
| Loan term: | 14 days |
| Loan available: | ₦500 to ₦500, 000 |
| Repayment: | Via code, website, bank deposit, and Quickteller |
| Collateral: | No collateral required |
| Guarantor: | No Guarantor needed |
| Loan portal: | my.migo.money |
| Customer care | +23417002274 |
| Head office | 3B Adekunle Lawal Road, Ikoyi, Lagos, Nigeria. |
| How fast? | Instant loan |
| Mobile app | No mobile app is available. Web only. |
| Email support | support@kwikmoney.com |
Migo loan requirement
Below are the list of requirements to get a loan from Migo:
- Your Bank account
- Your Bank Verification Number (BVN)
- A working phone number
- You must be at least 18 years and above
- You must also have been using your phone number actively for the last 90 days
- Your account number must have been in good active use for the last 90 days
- You must have an account in any of the following banks: First Bank, Access Bank, First City Monument Bank (FCMB), United Bank For Africa (UBA), Diamond Bank, Guaranty Trust Bank (GTB), Polaris Bank, Fidelity Bank, Heritage Bank, Union Bank, Unity Bank, Stanbic Bank, Wema Bank, Zenith Bank.
you are now reading: How to get a loan from Migo (Kwikmoney)
Migo loan terms and conditions
Before you start applying for a loan, it is important and advised that you are familiar with some of the important terms and conditions of the loan. below are Migo terms and conditions:
- You must be able to pay back the loan on or before the due date. If for any reason whatsoever, you are unable to pay back, make sure you contact them.
- If you happen to pay back your loan late, you are subject to extra fees and penalties for late payment
- You give them the absolute right to send messages to everyone on your phone contact list if you in anyway do not repay your loan.
- You give them the absolute right to use your personal data to determine the amount of loan to give you. Personal data includes your own phone number, your bank, bill payments, credit bureaus, and others.
you are now reading: How to get a loan from Migo (Kwikmoney)
How to get a loan from Migo (Kwikmoney)
Follow the steps listed below to get a loan from Migo:
1. Dial *561#
using your mobile phone, just dial the Migo code *561#. The same way you dial a code to check your credit balance.
2. Select loans
You will see a lot of options. Select loans.
3. Select request loan
On the next screen, select request loan from the list of available options
4. Wait for loan offer
You will get a loan offer, accept it, supply account details and all other data required to get your loan.
Alternatively, if you do not wish to use the mobile code for any reason best known to you, you can do it on their official website. Note, if you have used the code already, you will still get the loan, do not continue with the following steps. These steps are for people who prefer to do it online instead of using USSD / with phone.
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5. Visit the Official Migo website loan portal
Remember, This step is for those who do not want to use the USSD code but website. Just visit the loan portal
6. Input your valid phone number
Input your valid phone number to continue. You may be required to verify that you are a human by completing a simple captcha request.
7. Complete verification
A code will be sent to your mobile phone. type the code into the website to verify that you are the true owner of the phone number.
8. Select check loan offer
Select the check loan offer and proceed to see the offers that are available to you
9. Provide your account number and details
Click proceed then provide your account number and all other required details.
10. Get your loan!
Your loan should be arriving anytime very soon. Usually within few minutes
How much can you get?
You can get a loan from as low as ₦500 to as high as ₦500, 000. But note that at your first request, you may get a low offer that will depend on your credit score calculation. however, after the first offer and you pay back your loan on time and so on, you will be able to access even more bigger funds.
Migo interest rate
The interest rate is always from 10% and 25% of the amount of money you are getting. It is however also possible for your rate to be higher or even lower depending on your personal data.
Loan term
The loan term loan ranges from 14 to 30 days
Repayment of loan
All loans should be paid back from 14 to 30 days after it has been given. That is the rule governing the Migo loan.
To repay a loan is very easy. There are a lot of options. You can also dial *561# and follow the appropriate instructions to pay back. Or you visit the Kwik Money repayment portal.
You can also pay back the loan with any ATM card of your choice or even in cash at any supported bank or agent.
Please note that if you do not pay your loan by the due date/ deadline, you will be given an automatic extension (which is called a “rollover”) that doubles your interest with an extra 5% late fee.
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If you are facing some financial issues and cannot pay your loan, please make sure you dial *561# and navigate to “Extend Loan”.
Migo Head office
The official head office of Migo is located at 3B Adekunle Lawal Road, Ikoyi, Lagos, Nigeria.
Migo customer care number and email
Their customer care phone number is +23417002274
Their customer support email is support@migo.com
You can also text help to 561 from 9mobile line only
Migo code
The Migo code is *561#. using this code you can request loans, repay loans, and access all the services they offer.
you are now reading: How to get a loan from Migo (Kwikmoney)
Migo Website
The official website/ web address is www.migo.money
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