Kwikmoney is a very popular financial service operator in Nigeria that provides instant loaning and instant savings scheme to Nigerians.
The kwiknomey instant loan and savings scheme is a partnership brought about by Banks, network providing companies, and technological companies. The overriding purpose of this partnership is to ensure that almost all Nigerians have access to getting instant financial. These people include the farmers and traders living in the rural areas.
As the name implies “kwikmoney”, it allows Nigerians enjoy the benefits of getting quick and fast loans. One particular thing that distinguishes it from other loan apps is that the loan can be simply obtained by applying through USSD code? Is that not a great development? This implies that you do not need to have an expensive smartphone to get this loan. With this, it can provide it service to anyone, anywhere, any user of any network provider
Obtaining a kwikmoney loan is not difficult at all and with just a few steps, the loan is already in your account. There are two ways or approach of getting the loan and they are explained below:
As earlier said, it is a loan provided by an alliance between network service providers and banks. So, regardless of whether you are using MTN, GLO, AIRTEL, you can apply for Kwikmoney loan with USSD code. The step is detailed below:
Other than the USSD code method, you can also apply by visiting the official website of kwikmoney. Follow the steps below to use the web method:
To get the kwiknoney loan you need to put some things in place, which are:
You can borrow between ₦500 to ₦500,000. Don’t get too happy yet. For a first-timer, you will start with a small loan amount. But as you continue to improve your credit score with them, the amount you will be eligible for borrowing will keep increasing.
Just like the procedure for collecting the loan, the method of repaying the loan follows similar steps.
You can also payback the loan through:
In both method you will have to ensure the following things:
Not all of the banks in Nigeria support Kwikmoney loan. If you want to be able to access the loan, you need to have an account with the following banks:
The interest rate is between 5% to 15% depending on the amount borrowed and the length of repayment period
The repayment period is very short. It is between 2 weeks to 4 weeks. If you know you will not be able to payback quickly before deadline, do not borrow from Kwikmoney.
No, there is no app for this loan provider. You can either obtain the loan using USSD or web
No, there is none. The loan is collateral-free
Don’t even think about it. They will start sending you unpleasant messages. In fact, they will call you and disturb you till you become forced to pay back.
Kwikmoney is a very fast, reliable, and accessible loan for all Nigerians. As you borrow the loan, be willing to pay them back too. They operate using USSD and web and once you meet all requirements you will get the loan. The loan is also without collateral. They do not collect processing fee also.
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