How Easy Is It To Get A Loan From Opay – All You Need To Know

How Easy Is It To Get A Loan From Opay - All You Need To Know

How Easy Is It To Get A Loan From Opay.

Getting a loan in Nigeria has become easy, and this is because of the rise in popularity of digital lenders popularly known as online banks. These lenders make quick and short-term loans available to those who have accounts with them without any need for collateral. Recently, accessing payday loans has become as easy as ABC thanks to online Banks.

Brief History Of Opay

Opay is an online based platform that provides a diverse range of services like quick loans, payment, e-wallet, transportation, and food delivery, amongst others to her clients. This institution is a brainchild of the tech giant “Opera” and the name Opay stands for Opera pay. Opay is a vast platform that enhances various transactions, originally the platform came to the limelight because of its well-structured e-wallet that allows users to purchase airtime, and data, send and receive payment, pay bills and cable TV subscriptions, and a whole lot more. After a while, Opay introduced its digital lending platform “Okash loans”.

Opay Loans

A majority of us have been in situations where we are in urgent need of funds, Okash is a prominent digital lender powered by Opay that can help solve this problem. Okash is in partnership with Blue ridge Microfinance bank making loans available without collateral. This service runs 24 hours of the day, and the process can be completed over the mobile app provided you’re connected to the internet. Okash gives as much as N3000 – N500,000 all you need to do to receive this loan is download the Okash mobile app and ensure you meet the requirements.

Okash Loan Requirements

To be eligible for an Okash loan you need to have the following requirements.

1. A registered mobile number you can use to receive a verification code.

2. Your National Identification Number

3. Your bank verification number which is very important to ascertain you’re not owing

4. An active bank account

5. You should be between the ages of 21 years – 55 years.

6. A consistent source of income.

With all this in place, you can advance to downloading the Okash app and begin processing your loan.

How To Set Up An Account On Okash App

1. Create an Account

Immediately after downloading the Okash app, the next step is setting up your account, by creating a profile with your mobile number, However, if you already have an Opay account you won’t need to sign up, all you need to do is log in with your Opay details.

2. Agree To Terms

Most loan apps come with their terms, and Okash is no different. To process your loan, you will have to accept the terms and conditions stated in the Okash loan app. After clicking accept on the app, a verification code will be sent to you via text, you will need to type in the code on the app to continue.

3. Create A Passcode

After all, this has been done, the next step is to create a security code to keep your account safe from intruders.

4. Grant Permissions

After completing all the steps above the next thing on the list is to grant some permissions the app requests including access to contacts and mobile device location and more. when at this stage you will see a prompt asking if you want to allow the app access to your device, click on allow.

Okash Loan Application Process

1. After setting up your account, you will gain access to your dashboard where you can select how much you wish to apply for.

2. Fill in your personal information, and account number then submit an application

3. After completing step 2 you will get a call from Okash, pick up the call and verify your details.

4. After verifying your account and application via the phone call, you can view the status of your application and if your loan was approved you will get a confirmation sms

5. After your loan has been approved, you will need to confirm the loan approval.

6. After confirmation your loan will be disbursed into your account.

How Much Loan Can you Get From The Okash Loan?

Okash loan is an easily accessible loan that requires zero collateral, users can borrow a minimum amount of N3000 and a maximum of N500,000 on the app.

What Is Okash Interest Rate

Okash loans charge a 9.1% interest every 3 months. For instance, if you obtain a loan of N3000 from Okash, with an agreement to pay after 3 months, your

I. Interest rate will accumulate to 9.1%

ii. Interest amount will be up to N273

iii. Repayment will be N3,237

How Do I Make Repayment On Okash

Loan repayment is pretty easy on the Okash app. Right on your app dashboard click on loan repayment, when the page opens enter your account details and attach your debit or credit card to make payment

Where Is Okash Head Office 

The Okash Nigeria Head Office is Situated in Room 301, Japan House, Plot 8 Dr. Nurudeen Olowopopo Way, Central Business District, Ikeja, Lagos, Nigeria.

Okash Contact

If you need to contact Okash for any reason whatsoever, you can reach them through the following.

Customer care line: 08097755512, 08097755514

Email Address:


What Is The Highest Amount Opay Can Receive

An Opay account can only receive a maximum amount of N5 million, for an Okay merchant account.

Which Loan App Is Owned By Opay

Opay owns Okash, an automated lending service that disburses quick loans. Okash is a digital lending platform powered by Opay that aims to maximize access to credit to as many as possible in the Nigerian market.

How Reliable Is Opay

Opay Nigeria Is one of the top fin-tech organizations in the country in recent times. OPay has gone from been a start-up to one of the most trusted online banks in Nigeria.

Can I Borrow Money From Opay As A First Time User

Yes you can, as a first time user you are eligible to borrow the minimum amount of N30,000, if your credit is good without any history of unpaid debt you can get a loan of up to N50,000 as a first time user. After paying back your first loan you can access higher funds.


You don’t need to join long queues at the bank or stake your priced possession as collateral before you get a loan. Okash by Opay is one of the most competent digital lenders that disburse quick loans and make credit services seamlessly accessible in Nigeria