Categories: Private Loans

Kwikmoney Loan: How to Apply and Get the Loan

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


How Can I Get Kwikmoney loan?

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:

USSD or Shortcode Method

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:

  • Dial *561# on your phone and wait for the prompt
  • Choose “loans”, select next, then choose “Request loan”
  • Type the amount of money you want to borrow and click next
  • Fill in your bank account details and BVN and you will be within a few minutes your account will be credited


Web Method

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:

  • Visit the official site of kwimoney at
  • Compute your phone number in the digit box provided for you
  • A verification number will be sent to the number you provided. Insert the code in the digit box provided to proceed
  • After this, a list of options will be displayed, select “loan” from the options and then choose “check loan offers”
  • Insert the amount of loan you need and proceed to the next step
  • Provide your bank information such as BVN and bank account number, bank name and others
  • Within a few minutes your bank account will be credited

Requirements for Getting Kwikmoneney Loan

To get the kwiknoney loan you need to put some things in place, which are:

  • You must have a BVN as this will be used to trace all your banking record
  • You must be at least 18 years old but not older than 60 years to be eligible
  • You must have a good credit history
  • You must have a mobile phone.
  • You must have a bank account that is active. You should also have an active phone number. And this number should be connected to your bank account
  • Your bank account should not have a limit on the amount it can receive
  • You must have a debit card for your bank account in the case of loan repayment

What is the amount of money I can borrow from Kwik loan?

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.

How Do I Payback Kwikmoney Loan?

Just like the procedure for collecting the loan, the method of repaying the loan follows similar steps.

You can also payback the loan through:

  • USSD code by dialing *561# or
  • Through web by visiting their official site.

In both method you will have to ensure the following things:

  • Your bank debit card details must be correctly inserted
  • You must also insert your card transaction 4 digits pin
  • You must authorise repayment with OTP code sent to your phone number

What are the Banks that support Kwikmoney Loan service?

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:

  • Access bank and Diamond Access Bank
  • First Bank
  • First City Monument Bank (FCMB)
  • Wema Bank
  • Skye Bank
  • Zenith Bank
  • Guarantee Trust Bank (GTB)
  • Unity Bank
  • Standbic IBTC
  • Heritage Bank

What is the interest rate charged on Kwikmoney loan?

The interest rate is between 5% to 15% depending on the amount borrowed and the length of repayment period

How long is the repayment term?

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.

Is there an App for Kwikmoney?

No, there is no app for this loan provider. You can either obtain the loan using USSD or web

Is there a collateral for this loan?

No, there is none. The loan is collateral-free

What if I am unable to payback before deadline?

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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