How to get Loan from Kwikcash

Do you need quick and easy money to finance your business or settle some things? This article will guide you on how to get one.

Kwikcash 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 the partnership is giving easily accessible loans to Nigerians without collateral or guarantors.

Kwik Cash is an automatic line of credit that can be tied to your checking (share draft) for overdraft protection to cover checks that would otherwise be returned NSF. Since it is a line of credit, it is also ideal for those situations when you need extra money. When you’re short on cash, you can write yourself a loan by taking advances up to your pre-approved limit.

There is no charge to have a Kwikcash Loan available to you. You will only be charged interest when your loan is active and you have a balance outstanding. With kwikcash you can get loans in 60 seconds or more. That is how easy and fast the process can be at its best. You can simply dial just a code on your phone to get a loan, the same way you dial a code to check your airtime balance.

How to get Loan from Kwikcash

Kwikcash Loan Requirement

Below are the Requirements to get a Loan from kwikcash:

  • An active bank account
  • Bank Verification Number (BVN)
  • An active phone number
  • You must be up to 18 years and above
  • Your account number must have been in active use for the last 90 days
  • You must have an account in 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.

Terms And Conditions For Loan

  • You must be able to pay back loan before due date. If for any reason you are unable to pay back, contact them.
  • If you pay back your loan late, you are subject to fees and penalties for late payment
  • You give them the right to send messages to everyone on your phone contact if you do not repay your loan.
  • You give them the right to use your personal data to determine how much loan to give you. Personal data include: phone, your bank, bill payments, the credit bureaus and others.

Steps in getting a loan from kwikcash

1. Dial *561#

using your mobile phone just dial *561#. The same way you dial a code to check your credit balance.

2. Select loans

You will see many options; select  loans.

3. Select request loan

On the next screen, select request loan from the options

4. Wait for loan offer

You will get a loan offer, accept, supply account details and all to get your loan.

Alternatively, if you do not wish to use the mobile code, you can do it on their website.

Note, if you have used the code already, you will get the loan, do not continue with the following steps. These steps are for people who prefer to do it online instead of with phone.

1. Visit the migo website loan portal

This step is for those who do not want to use the code but website. Just visit the loan portal

2. Input your phone number

Input your phone number to continue. You may be required to verify that you are human by completing a captcha.

3. Complete verification

A code will be sent to your phone. type the code into the website to verify that you own the phone number.

4. Select check loan offer

Select check loan offer and proceed to see the offers available to you

5. Provide your account number and details

Click proceed then provide your account number and all details required.

6. Get your loan

You should get your loan usually within few minutes.

How much can you get?

You can get a loan from ₦500 to ₦500, 000. But on your first request, you will get a low offer that will depend on your credit score calculation. After the first offer and you pay back your loan on time and so on, you will be able to access bigger funds.

What is the interest rate?

The interest rate is usually from 10% and 25% of the amount of money you are getting. It is also possible for your rate to be higher or lower depending on your personal data.

Loan term

The loan term ranges from 14 to 30 days

Repayment of loan

  • All loans should be paid back from 14 to 30 days after it was given. That is the rule governing Kwik Money loan.
  • To repay loan is easy. There are many options. You can dial *561# and follow the appropriate instructions to pay back. Or visit the Kwik Money repayment portal.
  • You can also pay back the loan with any ATM card or in cash at any supported bank or agent.
  • Please note that if you do not pay your loan by the due date, you are given an automatic extension (called a “rollover”) that doubles your interest with an additional 5% late fee.
  • If you are having financial problems and cannot pay your loan, please dial *561# and navigate to “Extend Loan”.

Leave a Reply

Your email address will not be published.

You May Also Like