How To Obtain Kwikmoney Loan | Everything About Kwikmoney Loans

Do you need a quick money? How about learning how to apply & obtain Kwikmoney loan in Nigeria? well, if you need to obtain some loans to foot your expenses and attend to pressing needs, then, this is what you have got to read as we  guide you through. Before showing you how to get Kwikmoney loan, let’s tell you what Kwikmoney is all about.

What is Kwikmoney & How To Get Kwikmoney Loan?

Kwikmoney is an instant loan service provided by banks, mobile network operators, and technology companies on a mission to make personal banking services available to as many as possible. Basically, Kwikmoney is anchored on two major values: Instant Loans & Instant Savings.

1. Instant Loans

Whether you need working capital for your small business or need to handle a family emergency, kwikmoney lets you get an instant loan of up to N500,000 direct to your bank account. Typically the loan tenor is 14-30 days, with interest rate between 5% and 15%. As you take loans and pay back, the system trusts you more, offering you higher amounts each time. No collateral, no documentation, no wahala.

2. Instant Savings

Open an instant mobile account in a bank or microfinance bank and earn 10% annual interest. Interest is paid daily so you can see your investment grow every day. Withdraw at any time. As you make deposits the system trusts you more, offering you higher loan amounts. No documentation is required.

Also See: Where To Obtain Loans Without Collateral In Nigeria

How To Obtain Kwikmoney Loan

If you want to apply Kwikmoney loan, there are two major ways to go about it.

Method 1

  1. Dial *561# on your mobile phone.
  2. Select ‘Loans” and then “Request Loan”
  3. Select the loan amount you require
  4. Enter your bank details and within seconds your account will be credited

Method 2

  1. Visit https://kwikmoney.com
  2. Input your phone number in the text box
  3. You will receive a verification code on your mobile phone, input the code in the text box provided
  4. Click “Check Loan Offer” from the menu displayed
  5. Select the loan amount you require from the list of offers displayed
  6. Enter your bank details and within seconds your account will be credited.

All loans are payable within 14 days. You can read the full terms and conditions here.

Also See: Top Best Mobile Loan Apps In Nigeria

Kwikmoney Loan Repayment

If you are wondering how you can repay Kwikmoney loans, here are some of the ways to use to repay them.

1. Pay with cash

To repay your Kwikmoney loan in cash, here is what to do.

  1. Visit any of the following banks:
    1. Fidelity Bank
    2. Access Bank
    3. UBA
    4. GT Bank
    5. Keystone Bank
    6. Wema Bank
    7. Sterling Bank
  2. Inform them you want to make a kwikmoney payment on PAYDIRECT. There is no account number to pay into but give them the phone number used with kwikmoney as the Customer Reference Number for Paydirect. We advise going to the bank early in the morning.
  3. When it is done, they will inform you.

Also See: Bank Loan Requirements | Things Banks Will Ask When Applying For A Loan

2. Pay With USSD

  1. Simply dial *561#
  2. Navigate to “Pay Loan”
  3. Then, follow the instructions there.

3. Pay With ATM

Please ensure you have the phone that receives your bank alerts with you in case you need to receive a token, then do the following:
  1. Insert your ATM card and select the ‘Quickteller’ option
  2. Select ‘Pay Bills’
  3. Select ‘Others’
  4. Enter ‘04354101’ as the Biller Code
  5. Enter the phone number being used with kwikmoney for ‘Customer Reference Number’
  6. Confirm payment
  7. You will see a confirmation message for your payment. Kindly note that there is a N100 processing fee.

Also See: Bank of Agriculture Loan Application Requirements & Processes

Kwikmoney Interest Rate

The Kwikmoney interest rate is pegged at 15%.

Kwikmoney FAQs

Usually, people have lots of questions to ask about Kwikmoney. Here are they and the answers.

Loan amounts are from N500 to N500,000. However, kwikmoney will usually start with a small loan and grow your amounts over time as you pay your loans and build trust with the system.

2. How long does it take to get a kwikmoney loan?

kwikmoney does not guarantee a time within which you will receive your loan, but most customers complete the application and receive the money in their bank account within a few minutes.
So, here you have the guide on how you can apply and Obtain Kwikmoney Loan. If you’ve got any more questions, use the comment box below.

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