Migo Loan Code – How to Borrow Money from Migo

In today\’s fast-paced world, unexpected expenses can pop up when you least expect them.

Whether it\’s medical bills, home repairs, or an opportunity you can\’t afford to miss, having access to quick and reliable loans is crucial. That\’s where Migo Loan App comes in.

Migo Loan App is a game-changing financial tool that allows everyday people like you to borrow money conveniently. By using smart technology and innovative approaches to lending, Migo has made borrowing money easier than ever before. With just a few taps on your phone, you can gain the financial freedom you need, right when you need it.

In this article, we\’ll show you how to use the Migo Loan App effectively, so you can get quick loans without any hassle. We\’ll walk you through the simple steps of applying for a loan, maximizing your borrowing power, and managing your loans efficiently. Whether you\’re new to the Migo Loan App or want to improve your borrowing strategies, this article is your go-to resource. It will empower you with the knowledge to navigate the loan application process confidently and take control of your financial future.

About Migo loan

Migo formerly “Kwikmoney” is a digital loan company focused on making financial opportunities available to everyone. It offers collateral-free single-payment loans, installment loans, and payroll loans to people.

Migo provides a smooth and flexible loan service to its customers, using technology to offer fast and simple access to loans, without the hassle and complexity of traditional banks and lenders.

Who can borrow from Migo?

Migo offers its loan services to a wide range of individuals and organizations. Here\’s a breakdown of who can benefit from borrowing with Migo:

  • Students: Aspiring students who require financial support for tuition fees, textbooks, or other educational expenses can turn to Migo for a loan.
  • Salary Earners: Individuals who receive regular income from their employment, whether in the public or private sector, can access Migo loans. This includes employees working in various industries such as manufacturing, services, technology, healthcare, and more.
  • Self-Employed: Entrepreneurs, freelancers, and self-employed professionals can also apply for Migo loans. This category encompasses individuals who operate their own businesses or work on a contract basis.
  • Professional Public and Private Companies: Migo extends its loan services to professionals working in reputable public and private companies. Whether you\’re a lawyer, engineer, accountant, or hold any other professional position, you can benefit from Migo\’s loan offerings.
  • Civil Service Employees: Government employees, including civil servants at federal, state, or local levels, are eligible to borrow from Migo. This includes teachers, healthcare workers, administrative staff, and other civil service personnel.
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How much can you borrow from Migo?

The amount of money you can borrow from Migo depends on your creditworthiness and repayment history. The minimum loan amount is ₦500 and the maximum loan amount is ₦500,000. Migo will usually start with a small loan amount and grow your loan offers over time as you build trust with the system.

Here are some factors that Migo considers when determining your loan amount:

  1. Credit Score: Your credit score plays a crucial role in determining the loan amount you can access from Migo. A higher credit score indicates stronger creditworthiness, which can result in a larger loan offer.
  2. Income: Migo takes into account your income level when assessing your loan eligibility. A higher income suggests a greater capacity to repay the loan, potentially leading to a higher loan amount.
  3. Employment History: Migo considers your employment history to evaluate your stability and reliability as a borrower. A longer and more consistent employment history can contribute to a more favorable loan offer.
  4. Repayment History with Migo: If you have a positive repayment history with Migo, consistently repaying your loans on time, it builds trust and demonstrates your reliability as a borrower. This may increase the likelihood of being offered a larger loan amount in the future.

How to borrow from Migo

  1. Visit the Migo Website
  2. Create an account by adding your phone number (you\’d be required to verify it in the next stage)
  3. Provide your personal information
  4. Verify your identity
  5. Apply for a loan
  6. Receive your loan funds

Migo Loan Amount and Interest

When borrowing from Migo, you have the flexibility to access loan amounts ranging from ₦500 to ₦500,000. The interest rate charged by Migo typically falls between 10% and 25% of the loan amount. Additionally, the loan term provided by Migo spans from 14 to 30 days.

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It\’s important to note that specific loan terms, including interest rates, may vary depending on factors such as your creditworthiness and repayment history. However, Migo strives to provide transparent and fair loan terms to ensure a positive borrowing experience for its customers.

Migo Loan Code

You can also request for/repay a loan quickly and conveniently with the Migo loan USSD code. Using the Migo loan code simplifies the loan process, providing you with a seamless and efficient way to manage your Migo loans and explore various services at your fingertips.

The code is:

  • MTN – *561#
  • 9Mobile – *561#
  • Glo – *561#
  • Airtel – *554*561#

Also, the Migo loan code offers more than just loan transactions. You can also utilize it to explore other Migo services and make inquiries, allowing you to conveniently access additional features and information.

  • Dial *561*1*1*1# to apply for a loan
  • Dial *561*1*2# to replay your loan
  • Dial *561*1*3# to check the loan balance
  • Dial *561*1*4# to extend your loan
  • Dial *561*1*6# to invite a friend to Migo
  • Dial *561*1*5# to view Migo\’s terms and conditions

Repaying your Migo loan

Repaying your Migo loan is convenient and flexible. By offering multiple repayment options, Migo ensures that borrowers can choose the most convenient method for repaying their loans, making the process hassle-free and accessible.

Here are the different ways you can make your loan repayments:

Bank Transfer:

  • Enter your phone number on the repayment page
  • Select \”Pay Loan\”
  • Choose the \”Bank Transfer\” option from the payment methods.
  • Select your bank and follow the instructions to complete the transfer.
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Online Payment:

  • Enter your phone number on the repayment page and select \”Pay Loan\”
  • Opt for the \”Pay with card\” option from the available payment methods.
  • Select your saved payment card or register a new card following the instructions.
  • Confirm the payment, and you will receive a confirmation message.


  • Dial *561# from any mobile phone.
  • Select \”Loans\” and navigate to \”Pay Loan.\”
  • Choose the \”Pay with phone\” option from the payment methods.
  • Follow the prompts to add and register a card for payment.
  • Confirm the payment, and you will receive a confirmation message.

Cash Payment:

  • Visit either Access Bank, Fidelity Bank, GT Bank, Keystone Bank, Sterling Bank, UBA, or Wema Bank (please always visit the repayment page, as the banks might get updated at any time)
  • Inform the bank that you want to make a Migo payment using PAYDIRECT.
  • Use your Migo loan request phone number as the Customer Reference Number for Paydirect. No account number is required.

ATM Payments:

  • Locate an ATM that offers Quickteller services.
  • Insert your ATM card and select the \”Quickteller\” option.
  • Choose \”Pay Bills\” and select \”Others.\”
  • Enter \”04354101\” as the Biller Code and your Migo loan phone number as the Customer Reference Number.
  • Confirm the payment, and you will receive a confirmation message.

Please note that a ₦100 processing fee applies.


In conclusion, Migo Loan App offers a convenient and empowering borrowing experience in Nigeria. With its user-friendly platform and innovative approach, Migo simplifies the loan process, providing quick and reliable loans without the complications of traditional lenders. Whether you\’re a student, salary earner, or self-employed, Migo caters to various borrowers.

You can also check out our previous post on the top 20 loan apps in Nigeria and their comprehensive review.

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