Migo loan review (Is Migo loan legit?)

Migo loan review (Is Migo loan legit?)

Migo loan review (Is Migo loan legit?)

Read all about Migo loan in this Migo loan review.

Back in the days, getting a loan required a huge amount of paperwork and also collateral. Loans were not easily available to small businesses or even individuals.

These days, with the advent of loan apps and other online platforms, it is now possible for individuals and small business owners to get loans without the need for long paperwork and collateral. You can also get the loans in just a few minutes.

Migo loan formerly known as kwikmoney is an automated instant loan service that originated from a partnership between banks, mobile networks and telecommunication companies in Nigeria to make personal banking and access to finance easy for Nigerians.

At the core of this partnership is giving easily accessible loans to Nigerians without collateral or guarantors.

In this Migo loan review, I am going to be writing all you will need to know about Migo loan under the following sub-topics “Is Migo loan legit?”, “Migo loan requirements”, “How to apply/get a Migo loan?”, “Migo loan customer support details”, “Migo loan interest rates”, “Migo loan time range” and more.

Remember to leave us a comment after you finish reading and also share with your friends on social media.

Read my Fairmoney loan app review

What is Migo loan?

Migo loan formerly known as kwikmoney is an automated instant loan service that originated from a partnership between banks, mobile networks and telecommunication companies in Nigeria to make personal banking and access to finance easy for Nigerians.

At the core of this partnership is giving easily accessible loans to Nigerians without collateral or guarantors.

Migo loan requirements

The following are the requirements you need before you can get a loan on Migo:

  1. A bank account
  2. Bank verification number (BVN)
  3. A phone number
  4. You need to be up to 18 years and above
  5. You must have been using your phone number actively for the last 90 days.
  6. Your account number must have been in active use for the last 90 days.
  7. You must have an account in any of the following banks: first bank, access bank, first city monument bank (FCMB), United bank of Africa (UBA), Stanbic ibtc, Wema bank, Zenith bank, Guaranty trust bank, Polaris bank, Fidelity bank, Heritage bank, Union bank and unity bank.

How to get/apply for a loan on Migo

To apply and get a loan on Migo, follow the below instructions:

  1. Dial *561#
  2. Select loans/
  3. Select request loan
  4. Wait for loan offer
  5. Accept the offer and apply account details

If you would rather apply for a loan on Migo online, then you can do the following:

  1. Visit the Migo website loan portal https://my.migo.money
  2. Input your phone number
  3. Complete verification (A code will be sent to your phone)
  4. Select check loan offer and proceed to see the offers available to you.
  5. Input your account details
  6. Complete and get your loan

Migo interest rate

The interest rate on Migo is usually from 10% & 25%. Your rate is dependent on your personal data i.e. it could possibly be higher or lower. The loan term usually ranges from 14 days to 30 days.

Migo loan repayment

You should always repay your loans on time, this is so you can increase your credit score and get higher loans at lower interest rates in the future.

To repay your loan, you can do that via the Migo loan repayment portal via USSD (*561#), bank transfer, via ATM, cash etc.

Migo loan customer support details

If you want to get in touch with Migo, you can do that via the following:

Address: 3B Adekunle lawal road, Ikoyi, Lagos Nigeria.

Phone number: +23417002274

Email: support@migo.com

Is Migo loan legit?

Read my Branch loan app review

Migo loan is legit. Reading reviews online, you can get a loan of up to 500,000 naira easily in just a few minutes without the need for many paperwork or collateral.

The few complaints I have seen about Migo loan is a little bit about their interest rate, but other than that, it looks a good option to get a loan.

Don’t just take my word for it, make sure you do your own research about Migo before taking a loan.

You can leave your reviews in the comment section below.

Frequently asked questions (FAQs)

What happens if I can’t repay my loan on Migo?

You should always take loans that you know you can repay easily, as late payment leads to additional fees and penalties.

Is Migo loan legit?

Migo loan is legit. Reading reviews online, you can get a loan of up to 500,000 naira easily in just a few minutes without the need for many paperwork or collateral.

Conclusion

Thank you for reading my Migo loan review. If you have any question or comment, you can leave it in the comment section below.

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Thank you once again for reading.

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