How to Pay Migo Loan: A Guide to Online, Mobile App, USSD, Bank Transfer and Cash Payment Options

How to Repay Your Migo Loan: A Guide to Online, Mobile App, USSD, Bank Transfer and Cash Payment Options

Migo offers borrowers flexibility when it comes to repaying their loans on time. You can make repayments easily through multiple online and offline payment channels based on your preference and convenience.

This comprehensive guide covers the various payment methods available to settle your Migo loan, including step-by-step processes, tips for each channel, and answers to frequently asked questions.

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Introduction to Repaying Migo Loans

Migo provides quick, short-term collateral-free loans to working professionals in Nigeria. The loans range from ₦1,500 to ₦500,000 with repayment periods between 1 and 6 months.

Borrowers must repay the loan principal and interest charges in equal installments on fixed dates, as agreed during loan application.

To make repayment seamless, Migo offers various online and offline payment options including:

  • Migo website
  • Migo mobile app
  • Bank transfer
  • Debit card payment
  • Mobile money wallets
  • Over-the-counter cash payment
  • USSD

Let’s look at how to use each method to repay your loan conveniently.

Online Payment Options

1. Migo Website

Follow these steps to repay on Migo’s website:

  • Go to
  • Enter your registered mobile number
  • Click on ‘Pay Loan’
  • Choose your repayment method:
    • Card Payment – Input your debit card details
    • Bank Transfer – Select bank and follow transfer instructions
  • Complete payment and save receipt

2. Migo Mobile App

You can also repay through Migo’s mobile app:

  • Download and login to the Migo app
  • Go to ‘Loans’ and click on ‘Pay Loan’
  • Choose your preferred payment method
  • Input details and complete payment
  • Save digital payment receipt

Bank Transfer

To repay via direct bank transfer:

  • Go to Migo website or app and select ‘Bank Transfer’ under payment options
  • Choose your bank and click ‘Continue’
  • Note the unique Migo account details displayed
  • Login to your bank’s mobile or internet banking platform
  • Add Migo’s account details and enter the exact repayment amount
  • Input payment reference number provided
  • Complete the transfer by following bank prompts
  • Save payment confirmation receipt from bank

Debit Card Payment

To pay with your debit card:

  • On Migo website/app, select ‘Card Payment’
  • Input your 16-digit card number, CVV, expiry date
  • Enter one-time OTP sent to your phone
  • Confirm repayment amount and click ‘Pay’
  • Transaction will process on your card

Mobile Money Wallets

You can also repay with mobile money like MTN MoMo or Airtel Money through the Migo app.

Offline Payment Methods


To repay via USSD:

  • Dial *561#
  • Select ‘Loans’
  • Choose ‘Pay Loan’
  • Follow prompts to pay directly using your debit card

Over-the-Counter Cash Payment

Take your loan details to partner bank branches like Access Bank, Stanbic IBTC, Sterling Bank to pay with cash over the counter.

Tips for Repaying Migo Loans

  • Track repayment dates and set reminders to avoid late fees.
  • Save payment receipts from every repayment transaction.
  • If you missed a repayment deadline, pay immediately to limit penalties.
  • Notify Migo if you foresee difficulty with upcoming repayments before defaulting.
  • Repay from a personal bank account or card in your name to avoid issues.
  • If transaction failures occur, retry later or use an alternate mode.
  • Contact Migo support if repayment issues persist.


In summary, Migo offers various seamless options to complete your loan repayments on time through multiple channels. Choosing a repayment method that aligns with your preferences for online/offline modes, transaction security, convenience and flexibility enables borrowers to fulfill loan obligations easily. This maintains good standing and continued access to Migo’s quick, collateral-free loans.

Frequently Asked Questions

How long does it take for repayments to reflect in my account? Allow up to 24 hours for repayments via bank transfers, cards, or USSD to reflect. Mobile money wallets may be faster.

Is there a charge for paying via USSD or mobile app? No, USSD and app repayment options are currently free. But your mobile carrier may levy a standard charge for USSD sessions.

What if I made a mistake in the repayment amount? Contact Migo immediately with your payment evidence. They will reconcile the difference accordingly.

What happens if I repay late? Late repayments incur a penalty fee. If multiple repayments are missed, it can default your account and impact your credit score.

Can I change my repayment dates? The loan repayment schedule is fixed during application. But you can discuss rescheduling options with Migo if facing constraints.

Let me know if you need any other clarification or help with repaying your Migo loan using the various payment methods available!

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