Migo: Quick online loans in Nigeria without collateral or guarantor

Migo (formerly kwikmoney) is a cloud-based quick online loan platform in Nigeria that enables you access to instant loan and if willing, to make purchases from merchants or withdraw cash without the need for a smartphone, point-of-sale hardware or plastic cards.

Migo Instant loan in Nigeria without collateral or guarantor

Migo strives to ensure your online loan request enters your account (or the account of the merchant you are paying) right after you complete your application session.

Migo loan amounts range from N500 to over N500,000. The loan agency usually start with a small loan and grow your loan offers over time as you borrow and repay consistently and build trust with the system.

You do not need any collateral or documentation to request your Migo loan.

No guarantors are required to get a Migo loan. Your loan offers will continue to grow at a steady pace as you borrow and repay early.

Physical visitation of Migo office or a bank not necessary

Their minimum loan amount is N10,000 and the upper limit for a new customer is N50,000 with no collateral or guarantor required.

Interest rates are determined by a number of factors, including your repayment history and the cost of lending.

Loan decisions are provided within 15 seconds and if approved, the applicant receives funds within 5 minutes.


Your interest rates, just like your loan amounts vary based on your personal information and loan repayment history. Interest rates could reduce, while loan amounts increase with good repayment history and vice versa.

Interest rates range from 5%-25%. The rate applied depends on your repayment history and the loan term. Interest rates are not fixed and can be reduced by repaying your loans early. You can also get reduced interest rates when you recommend friends to take a loan and repay.


As a new borrower, you can only have access to a small loan offer depending on your credit history.

The best way to increase your loan offers is to pay back your loan on or before the due date. With Migo, your offers are a reflection of your borrowing behavior. The more frequent your early repayments, the better your future offers. It is also better to extend your loan, to preserve your offers, rather than miss a payment date.

The platform aims to make you an offer every time you make a request, no matter how small. However, in instances where it is unable to ascertain your personal information, you may not be able to get an offer.


No document or documentation is needed to obtain a Migo quick loan in Nigeria. All you need is an android phone, your banking details including BVN and a complete online application form.


You qualify for loans based on your personal information. The more information Migo can find on you, the easier it is to qualify. Your loan offers are based on your personal information and your loan repayment history. The more you pay your loans on time, the higher the amounts you can get.

Valid bank details
Payment card details
Android Phone
Complete application


Your personal information is used to determine your unique loan offers. The loan platform provides a range within your available credit limit from which you can select. Currently.

To get a loan, all you have to do is enter your phone number here.

Once you select the loan amount you want, you’ll be asked to give details of your bank account for the loan to be deposited. Finally, your debit card information will be registered to make repayment easier for you.

You can also get a Migo loan by dialing *561# for MTN, 9mobile, and Glo or *554*561# for Airtel. From the list, select “Request Loan” to see a list of your customized loan offers.

The following processes are required

1. Enter and verify your phone number

2. Choose the best fitting quick loan

3. Add your banking information

To apply for a Migo loan, CLICK HERE


There are several ways to make a repayment. Visit www.migo.money/repay and select the option that works best for you from the list provided.

You can also make a partial repayment by visiting www.migo.money/repay, select your preferred repayment method, change the amount to be paid, and confirm the payment. A partial repayment is a good option to take to preserve your good repayment history and avoid a reduction in your next loan amount.

You can repay your Migo loan using any valid debit card. If you previously registered a card and would like to change that card, please visit www.my.migo.money and follow the instructions to add a new payment card.

To apply for a Migo loan, CLICK HERE

To get more information about Migo loan, CLICK HERE


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About the Author: Eniola Olagbemi


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