How to: Apply for loan from Migo; USSD Code; Requirements needed to request for migo loan; all you need to know


Formerly referred to as Kwikash, Kwik Cash or Kwikmoney, Migo is an instant online personal loan provider. Migo leverages on its interconnected relationship between itself and telcos and banks to provide easy and fast credit to its users without any collateral. This article focuses on how to apply for Migo loan.

With a simple dial of a code (*561#) on your phone (any network), you can request/apply for a personal online loan within seconds and get it instantly.

Requirements Needed to Apply for Migo Loan

Applying for a Migo loan is probably the easiest thing to do with a mobile phone. However, before you get to that point, some things must be in place. Here are the basic things you need to have before Migo can grant you access to request/apply for a loan in their company:

An active bank account

You must have a standard bank account in any 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.

The bank account must be one you use frequently and must have been active for at least 3 months.


You must have enrolled for BVN in any of the accredited places. Your BVN must carry the exact phone number you intend to use to dial Migo’s ussd loan code.

An active phone line

You must have a phone line that you use frequently and has been active for 3-months or more. You will also be requested to grant Migo full access to your phone contacts.

Must be up to 18+

Only adults are allowed to borrow on Migo’s platform. You must be 18 or more to use the Migo ussd code or mobile app to borrow.

How to get a loan from Migo (Kwikmoney)

Okay. This entire process should not take you more than 2 minutes from start to finish. This segment focuses on the step-by-step procedures on how to apply for a quick online Migo loan.

You can request for Migo loan via their USSd code *561# or the Migo website

Via the USSD code

  • Dial *561#
  • Select loans
  • Choose Request Loan
  • Enter your request details
  • Once you receive your loan offer, accept the offer
  • Supply account details so Migo can pay you.
  • Your loan will be credited into your bank account almost immediately.

Via the Website

  • Visit Migo Web and got to Login to Migo
  • Enter your phone number
  • You will receive a 6-digit OTP on the phone number. Respond with the OTP.
  • Once you are in, add bank accounts and payment cards.
  • Choose your preferred loan offer
  • Input your bank account number, debit card details, and other requested details so that Migo can pay you
  • Submit

Your credit will arrive within few minutes .

How to Pay Back a Migo Loan

Have you been asking yourself “how do I pay back Migo loan?” You can repay your Migo loan using a few methods. I will list them here:

1.You can make direct deposit into the following supported banks

Your Migo loan can be deposited into any of the following banks:

  • Access Bank
  • Fidelity Bank
  • First Bank
  • First City Monument Bank (FCMB)
  • Guaranty Trust Bank (GTB)
  • Heritage Bank
  • Polaris Bank
  • Stanbic IBTC Bank
  • Union Bank
  • United Bank For Africa (UBA)
  • Unity Bank
  • Wema Bank
  • Zenith Bank

2.Simply fund the account that is mapped to your Migo profile. The account can be debited directly via the debit card submitted.

3. You can do an instant transfer from your bank account straight into your Migos loan wallet. 

Go to, select Pay Loan, select Bank Transfer. Select your bank and click continue. You will be given a code to dial. Select Suntrust bank and complete your transfer.

FAQs on Migo Loanquestion-mark-banknaija

What is the code to request for loan on Migo?


What is Migo website?

What is the minimum or maximum loan I can get on Migo?

N500 – N500,000

If I don’t repay Migo loan, what will happen?

Repayment of a loan is as important as taking it in the first place. If you don’t pay your loan as at when due, you will be given an automatic extension (also called an auto-rollover) at an additional 100%  on your initial interest rate plus a 5% late fee. 

That is, for instance if your normal interest rate is 10% and you default on repayment, the interest will become 20% plus 5%. That’s 25%.

If you have financial challenges and are unable to repay your Migo loan as at when due, just dial *561# and select Extend Loan. Migo will understand.

What are the interest rates for Migo loans?

Ranges between 5% – 25%

What do I do if I cannot pay but do not want my offers affected?

To ensure your offers are not affected, you can make a partial payment of 20% of the total outstanding amount and get a 30-day extension.

What is the maximum loan tenor?

14 – 30 days

Where is Migo’s office?

The head office of Migo is located at 3B Adekunle Lawal Road, Ikoyi, Lagos, Nigeria.

How do I contact Migo if I have challenges?

You can call Migo on +23417002274. You can also shoot them an email on

Alternatively, you can text “HELP” to 561 (9mobile customers only).

Tag: migo ussd code, how to apply for migo loan, migo loan, how to request for migo loan,

  1. Dammymat says

    This information is very informative, and I believe with this present day, people need funds for various purposes. Knowing that an opportunity for loan like Migo exist, affords people several choices. Thanks for this great how to post.

    1. Gbenga says

      Dear Dammymat,

      Thank you for being a loyal visitor. We appreciate your kind words of encouragement.

      Best regards!

  2. Ezekiel Nchini says

    I want to be an agent. Please can you set up an office at by locality. Thank you.

  3. Anonymous says

    I request for it but am not allow

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