The Migo loan provides a practical and accessible method to obtain a loan from N500 to N500,000 in just 10 easy steps if you require immediate cash. With the Migo loan code, you can access loan services from the convenience of your house, without providing any security, and at a low interest rate.
Your private information is protected during the quick, efficient, and secure Migo loan application process. Migo loan code provides flexible repayment terms so you can repay the loan at your own pace whether you need the money for personal or business reasons.
We’ll walk you through the ten simple steps necessary to apply for a Migo loan in 2023 using the Migo loan code in this article.
Apply For: CBN Non-Interest Loan 2023
How To Get A Migo Loan With The Migo Loan Code
Migo is a quick loan business in Nigeria that was formerly known as Kwikmoney or Kwikcash. Loans without collateral or guarantors are being made available to Nigerians by banks, cell networks, and telecom firms. By simply dialing a Migo credit code on your phone, you can obtain a credit through Migo in 60 seconds or more.
Requirements For Migo Loan
- Bank account
- Bank Verification Number (BVN)
- Active phone number
- Age 18 years or above
- Phone number in use for the last 90 days
- Bank account in active use for last 90 days
- Account in any of these banks: First Bank, Access Bank, Diamond Bank, FCMB, UBA, Stanbic Bank, Wema Bank, Zenith Bank, GTB, Polaris Bank, Fidelity Bank, Heritage Bank, Union Bank, Unity Bank.
Terms and Conditions
- Must be 18 years old or above to apply for loan.
- Interest rate ranges from 5% to 25%.
- Loan repayment period is between 14 to 180 days.
- Borrower must provide a valid Bank Verification Number (BVN).
- Migo loan amount ranges from N500 to N500,000.
- Late payment fee of 1% per day applies after due date.
- Repayment can be done via bank transfer, USSD or debit card.
- Processing fee of up to 25% of the loan amount applies.
- Loan approval and disbursement takes up to 5 minutes.
- Defaulting on payment can lead to blacklisting by credit bureaus.
Follow These Steps to Get a Loan from Migo Loan
- Dial *561# on your phone
- Select “Loans”
- Select “Request Loan”
- Wait for loan offer and accept
- Provide account details
Or visit the website and fill in your information:
- Visit Migo loan portal
- Input phone number
- Complete verification with code sent to phone
- Select “Check Loan Offer”
- Provide account number and details
Migo Loan Amount and Interest
- ₦500 to ₦500,000 loan amount
- Interest rate 10% to 25% of loan amount
- Loan term 14 to 30 days
Repayment of Loan
- Payments can be done online, through a mobile app, or using USSD.
- Repay using the Kwik Money payment system or *561#.
- Repay at a bank or agent that is accepted with an ATM card or cash.
- Return the debt in 14 to 30 days.
- Your loan can be repaid over a set length of time in installments.
- Late payments result in higher fees.
- You won’t be penalized if you repay your debt early.
- Credit agencies may put you on a blacklist if you don’t pay.
- The procedure of applying for a loan results in the creation of repayment plans.
- Repayment amounts depend on the loan sum, repayment period, and interest rate.
- Through the app, you can look up your loan repayment history and state.
- Customers of Migo have access to flexible repayment choices.
- Make sure you have enough money to pay for repayment.
What is Migo Loan Code?
You can use the Migo platform’s different loan-related services by entering a unique code known as the Migo loan code. You can quickly request loans, pay back loans, and access all other Migo services by simply dialing the code *561# on your phone.
How To Use Migo Loan Code
Utilizing the Migo loan number couldn’t be easier. All you have to do is call the number *561# on your phone to access a menu where you can select the services you require. You have the option to use any Migo service, including credit requests and repayments.
Apply For: CBN Non-Interest Loan 2023