Opay loan

Banking

How to access Opay loan/Okash loan in a few steps

Opay loan – Are you a salary earner looking to borrow money online to meet your monthly or short-term financial obligations, if this feels like you, come closer.

The advent of online loan providers has made it seem easier to access funds within the shortest limit ever, so long you meet requisite conditions, better still go fore the Opay POS business.

The Opay loan/Okash is one of such numerous providers that ensure you get access to funding timely and seamlessly.

In this guide, I’ll show you how to get the Opay loan almost at the speed of light. But first off, what do you know or have you heard about the Opay, I guess not much. Just in case this is the situation with you, let’s take a little journey to understand the Opay in detail.

About Opay

Opay is a mobile-based platform for payments, transfers, loans, savings, and other essential services for everyone.

At the moment, Opay has over 18 million registered app users and 500,000 agents in Nigeria, who as well as rely on its services to send and receive money, pay bills, etc.

Opay digital services Limited is founded by Opera Norway AS Group with footprints in emerging markets across Asia, Africa, and Latin America in countries like Mexico, Nigeria, Egypt, and Pakistan.

The Opay loan/Okash

Okash subsists as a loan app in Nigeria from the Opay group, in this instance, you can get the Opay facility via Okash loan within minutes, subject to verification and approval.

  • Loans on the Okash are fast and secure
  • You are not required to provide any form of collateral
  • Bonuses are offered
  • Application is strictly online

Types of Opay/Okash loan

The Okash loan is of three types, namely;

  • The cash loan: This is designed for individual users who can borrow up to N50k
  • Agent loan: This loan is designed for Opay agents to a maximum of N200k
  • Airtime loan: You get 15% off for buying airtime with Okash loan, however, before you qualify for an airtime loan, you have to apply for a cash loan first.

Opay/Okash loan requirements

So long you are a Nigerian, the Okash loan is up for grabs preceding meeting the requisite conditions.

  • You must be a Nigerian
  • You must have a source of income through which it’s believed you can service the facility
  • You must be between 20-55 years old
  • Valid ID which could be; National ID, Drivers license, Voters card, or International passport  
  • Your BVN must be made available

How to apply for Opay loan

  • Kindly visit Google/Apple store to download the Okash loan mobile app available for Android and IOS operating systems
  • Register for a user account by entering the necessary details
  • Verify your account via text or call

Having signed up successfully, you will need to start your loan application

  • Apply for a loan, check and see your approved limit on the loan application dashboard
  • View the rate and repayment plan and date to ensure you make repay the loan on the scheduled date, as well as the rate payable.
  • Confirm your loan request, and the value will be credited to your bank account within seconds.

How to repay your Opay loan

While you access the Okash loan, bear in mind that you will need to repay the loan since Opay does not run a charity organization.

Kindly open your 

  • Okash mobile app and log in with your username and password
  • Locate and click on the “Make a repayment” button and provide all required details
  • Click on the repay button

Your account will be debited automatically in case your loan is due, in his case all you need is to keep your account funded for loan repayment.

 Opay loan/Okash interest rate

The daily interest rate is between 0.1 % to 1%, while the annual interest rate is between 36.5% and 360%, you are required to pay a loan origination fee, the loan duration for the shortest loan is 91 days, and 365 days for longest tenure.

The Opay loan code

The USSD code is denoted by *955#, however, you can only use it having signed up for Okash/Opay account, the USSD code, you can perform several transactions with ease.

Opay loan review

The Opay/Okash loan is a product of the Opay group where Nigerians can get a loan within minutes so long they meet the requisite conditions.

What we like about Opay

  • Loan processing is fast, swift, and secure
  • No collateral to secure the loan
  • There are bonuses and incentives most times
  • The loan acquisition process is online strictly

What we don’t like about Opay

  • The cost of loan repayment is high
  • There’s a case of privacy concern though peculiar to online loan apps
  • Loans are usually short-term, and not ideal for long-term projects
  • The maximum amount may not be ideal for everyone

Opay customer care line

You can reach out to Opay via WhatsApp on 2349165998936

Office address: Alexander House, Otunba Jobi Fele Way. Ikeja Lagos, Nigeria.

103 Allen Avenue, Mosesola House, Ikeja, Lagos, Nigeria.

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