Migo is a platform that grants you an instant loan within minutes with no question asked. Migo is a rebrand of what is formally known as Kwikmoney and kwikcash.
Actually, Migo is a partnership between banks and technology companies with their main purpose being to provide quick loan services of long or short term to people. It is easy to apply for loan without the need for any paperwork or collateral provided.
They offer loan from N500 up to N500,000 and with an interest rate ranging as low as 5% to 15% or 10% to 25% of the money you get. It is programmed so as to trust you more as you take loans and repay on time as stipulated and thus, it can offer you higher amounts as you successful remit on time. Most times, the tenure for which loan span for is usually between 14 to 30 days.
What to do to get a loan from Migo
First, you need to have a bank account
A bank verification number too (BVN)
An active phone number
You should be 18 years and above
Your phone number and the account number must have been in use for the last 90 days.
How to get a loan from Migo
To request a loan you can simply dial *561# and in the options presented select “loans” then select “request loan”. This goes for all networks including MTN, Glo and 9mobile. OR
Go to www.migo.money
Enter your phone number and tap on “check loan offers”
A verification code will be sent to your phone, enter it on the required space
Then, select “loans” and “request a loan.” There, you will see all the available loan offers displayed to you
Enter your account details for the loan to be deposited into your account. And that is it.
How to remit back loan to migo money
To repay your loan you may also simply dial “*561# which is also applicable to all networks as mentioned earlier and then, select “Pay Loan”. OR
Visit www.migo.money/repay for instructions on how to go about it. And you will be provided with the options of either paying online through Quickteller. Or to walk into any of the below banks’ branches to make a migo money payment on PAY DIRECT. The banks are Access Bank, Fidelity Bank, GTBank, Keystone Bank and Sterling Bank.
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What is new in migo?
As I said earlier, migo is a rebrand of what was formally known as kwikmoney and kwikcash which provided services just as Migo is providing now, however, the change was not only of the name but with added services, such as.
Pay utility bills: you can now make payment to other platform using Migo and pay through Migo for such bills as electricity bills, your TV subscriptions etc.
Or you can become a partner of migo for business.
Some of the Migo terms and conditions
Migo money has set up some terms and conditions that cover offering a loan to customers. Some of them you should be acquainted with are
You must be able to pay back the loan before the due date. And if for any reason you cannot pay back on time, contact Migo.
If you pay back late, you would be subject to pay fees and penalties for the late payment
In case of default in payment, you give them the right to send a message to everyone on your contact.
And you have given them the right to use your personal data to determine how much loan to give you.
Migo is popular with the code *561#, the customer care line is +23417002274 and with an email address email@example.com for customer support.