Consumer FAQs

Getting a Migo Loan

About Migo Loans

Loan Repayment

Interest & Tenor

How do I get a Migo Loan?

Enter and verify your phone number here: Get a Loan.
Choose the best fitting loan offer.
Add your banking information so Migo can pay you.

Questions? Contact Us.

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How do I qualify for a Migo Loan?

The best way to see if you qualify for a Migo loan is to apply! Visit Get a Loan to apply now.

How long does it take to get a Migo Loan?

We work hard to ensure that your loan enters your account, or the account of the merchant that you are paying, immediately after you complete your application session. If for some reason your transaction does not happen this way, please Contact Us.

Do I need to provide collateral or documentation to request a Migo loan?

No, you do not need any collateral or documentation to request a Migo loan.

Do I need to visit a bank to request a Migo loan?

No. You can conveniently apply for the loan from your mobile phone. All you need is a bank account linked to a valid BVN. Visit Get a Loan to apply now.

Where else can I get a Migo loan?

You can get a Migo loan by:

Dialing *561#
Visiting Get a Loan‍
Migo is also available as a payment option at participating merchants. See our growing list of partners at Pay with Migo.

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Do you have a mobile app?

No. You can access Migo from your mobile phone any time by logging into our web portal with your mobile number at Get a Loan. Or, by dialing *561#.

Can I access Migo if I port my number to another network?

Yes, as long as your SIM registration details match your bank account details. We operate our USSD service across all networks.

Can I use USSD shortcuts to request a Migo loan?

Yes, to avoid multiple screen selections, you can use USSD menu shortcuts by placing your menu selections in the code you dial. Here are some examples:

‍*561*1*1*1# Take out a loan
‍*561*1*2# Repay a loan
‍*561*1*3# Check loan balance
‍*561*1*4# Extend your loan
‍*561*1*5# Terms and conditions

Can I access Migo with another person’s phone number?

No, your loan offers are specific to you.

How much money can I borrow with Migo?

Migo loan amounts range from N500 to over N500,000. We will usually start with a small loan amount and grow your loan offers over time as you build trust with the system.

How do you determine my loan offers?

Your loan offers are based on your repayment history with Migo. The more you pay your loans back on time, the higher the amounts you can be offered.

How do I increase my loan offers?

With Migo, your offers are a reflection of your borrowing behavior. The best way to increase your loan offers is to repay your loan on or before the due date. The better your repayment history, the better your future offers will be. If for some reason you are unable to repay in full and on time, extending your loan is a better alternative for preserving your credit record with Migo, rather than allowing your loan to default.

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Why don’t I have any loan offers?

We aim to make you an offer every time you make a request, no matter how small. However, in instances where we are unable to ascertain your personal information, we may not be able to make you an offer.

How do I pay back my Migo loan?

There are several ways to pay back your Migo loan. Visit Repay a Loan to review your payment options.

Can I pay my Migo loan with a transfer?

Yes. Migo accepts transfer payments through a unique account number that will be sent to you, only when you request it. Once you successfully make the transfer to the account number, you will get a payment confirmation message. To review transfer payment instructions, or make a payment using the transfer option, visit Repay a Loan.

Does Migo have any other account number for repayments via bank transfers?

Your unique account number is the only account number affiliated with Migo. Do not transfer any money into an account where the account name does not contain your phone number. Migo will never ask you to pay into an account that is different than the unique account number provided to you by Migo.

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How do I make a partial repayment?

Log in at Repay a Loan.
Select your preferred repayment method.
Change the payment amount.
Confirm the payment.

How do I extend my loan?

Extending a Migo loan is easy!

Dial *561# or log into your account with your mobile number at Repay a Loan.
Select “Loans”.
Go to “Extend Loan”

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What happens if I do not pay back my Migo loan on time?

For us to keep increasing your loan offers and offering loans to more people, we ask that you repay your loans when due. In the unfortunate event that you do not repay your loan on the due date, you will incur additional fees for default.

If you still do not repay, further penalties, as agreed in the Terms and Conditions, will be issued.

Rather than paying late or defaulting, extending your loan is a better alternative that will help to preserve your credit history with Migo.

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Can Migo debit my account directly?

No. But we are always looking for better ways to serve you. Visit the Repay a Loan page to review payment options and make a payment.

Can I repay my Migo loan on another platform?

No. Please visit Repay a Loan to view the list of our Migo verified repayment methods. Any repayment method that is not on this list is fraudulent. Please beware of fraudulent actors that attempt to steal your funds by posing as a Migo repayment option. Migo cannot be held liable for fraudulent transactions that result from engaging with such transactions. If you come across such fraudulent actors, please report them to Customer Support.

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Do I have to pay my Migo loan with the same card I registered when I applied for the loan?

You can repay your Migo loan using any valid debit card. If you previously registered a card and would like to change it, please log in with you mobile number at Repay a Loan and follow the instructions to add a new payment card.

I lost the mobile line I used to get a loan. How can I make a repayment?

If you can no longer access the phone you used to accept your loan, you can repay using our “pay with cash” option. Please visit Repay a Loan and scroll down to "pay with cash" for details on this payment method.

Why are there different interest rates?

Interest rates and loan amounts vary based on your personal information and loan repayment history. Interest rates can decrease, and loan amounts can increase, with good repayment history.

What should I do if I don’t understand the Terms and Conditions?

We developed our Terms and Conditions with your comfort and security in mind, so that you understand what you are agreeing to when you accept a Migo loan. A summary of key terms from our Terms and Conditions is below:

Pay loan balance on or before the due date: This term means you understand that you are taking a loan that must be paid back by the due date in order to continue enjoying the service.

Allow use of your personal data to determine loan offers: This term means that you have given consent to Migo to analyze your personal information in order to provide you with the best available loan offers. Your personal information comes from many sources, including your phone, your bank, bill payments, credit bureaus, and other sources.

Fees and penalties for late payments: In order to lend to more customers, and increase your loan offers, we must recover loans granted. When you do not repay your loan on the due date, we are forced to charge additional fees and interest. This term means you have given your consent to be subject to these charges if your loan repayment is late.

Allow messages to your contacts if you do not pay: This term means you consent to Migo sending text messages to anyone you have called, or sent an SMS to, if we are unable to reach you. Migo will only send these messages after multiple unsuccessful attempts to contact you after your loan repayment date has passed.

Please visit Terms & Conditions to read our full Terms & Conditions. If you need further explanation, we would be happy to help you. Feel free to Contact Us.

Bank account and SIM registration details do not match. What should I do?

Please re-register your SIM card so that your SIM registration details match your bank account details.

Loan is delayed because you couldn’t reach my bank. What do I do?

Please accept our apologies – sometimes there are interruptions in service among our network of partners. Please give us 72 hours to provide feedback on the issue. If you have not heard from us within this time, please Contact Us.

I repaid my Migo loan, but I did not receive a payment confirmation. What do I do?

Please accept our apologies – sometimes there are interruptions in service among our network of partners. Please Contact Us with proof of deposit that shows the date of payment, and one of our customer experience representatives will be happy to assist you.

Migo is messaging me about a loan I know nothing about, how do I resolve this?

Your loan is linked to your phone number and BVN, so we will need to go through our verification process with you. Please Contact Us, and we will be happy to resolve this.

I repaid my Migo loan, why do my contacts still get notified?

Our system only sends out notifications as a last resort in instances where customers have been unreachable. If you have repaid your loan, please Contact Us with proof of payment that includes the date of payment. One of our customer care representatives will be happy to assist you.

Are my personal information and bank card details secure with Migo?

Your security and privacy are our highest priority. We have implemented multiple security measures to safeguard your information and are fully compliant with all regulations and national laws governing consumer data protection.

How do I partner with Migo?

We are always looking to partner with businesses to offer credit services to their customers. Contact our partnerships team here: Contact Us

I am interested in employment with Migo. How do I reach you?

Visit our Careers page here: Careers