KwikMoney, a partnership between banks and technology companies to make banking services convenient and accessible to all Nigerians, has made it absolutely easy for anyone to apply for loan without the need for paper works or collateral, with only the mobile phone number.
KwikMoney automated instant loan service gives loan of up to N500,000, with the tenor between 14-30 days and interest rate as low as 5% to 15%; while the system is programmed to trust you more as you take loans and repay at the stipulated time, offering higher amounts with each successful remittance.
How to Apply for KwikMoney loan?
To apply for a KwikMoney loan, dial *561# (applicable for all networks, including 9Mobile, Glo, MTN and Airtel) and navigate to "Request Loan" or visit https://my.kwikmoney.com and enter your phone number to be assessed for eligibility for the loan.
The good news is that almost everyone is eligible, and the loan amount could be up to N500,000. Though, KwikMoney usually start with a small loan and grow the amounts over time as you repay the loans, it builds trust with the system.
How to Pay Back KwikMoney Loan
To repay KwikMoney loan, you'll have to also dial *561# (applicable to all networks) and navigate to "Pay Loan" or visit https://kwikmoney.com/pay with the options of paying online via Quickteller, or walk into the following banks: Fidelity Bank, Access Bank, UBA, GTBank, Keystone Bank and Sterling Bank, inform them you want to make a KwikMoney payment on PAYDIRECT.
How long does it take to get the loan?
KwikMoney promises a time frame of 60 seconds within which you will receive your loan, but most borrowers receive the money in their bank account some few minutes of completing the application.
The quick and easy online assessment, means that evaluation of creditworthiness and ability to pay back within a stipulated time frame may apply as to the amount of loan that can be given to a particular applicant at a time.