Okash Loan: How to Borrow money from Opay in 3 Steps
In this very detailed post, I am going to show you to borrow money from opay in less than ten minutes, yes you read that right. With the help of online banking, anyone can borrow a loan with a few clicks, there are many platforms where you can collect loans on the internet
but in this post, we will be focusing on Okash loan also known as opay loan, so if you've been looking for a way to borrow money and repay later, then I will encourage you to read this post all the way down to the last paragraph because I'm going to be listing out all the information you need about getting a loan on opay.
To borrow money from opay, all you need is to create an opay account and then, download the Okash loan app on your android or IOS device, after that, you can create your okash account by entering your opay account information such as your phone number and full name, then apply for a loan on the app, you will need to submit some personal information like BVN (bank verification number) ID card etc, then read the terms and conditions and enter the amount you want to borrow, take note of the repayment amount and proceed, after this process, it will take less than ten minutes before you will receive your loan on okash app. Simple right?
I am also going to address a few questions you might have in mind at the very end of the post, so read this post till the end to find out.
Also read about Icoin loan app here
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Okash loan app download
Remember I told you that you will need to download Okash app to actually have access to opay loan, you can download the okash app from Playstore or the Apple store, or click this link to download okash app from playstore and if you are using an IOS device, click here to download okash loan app from apple store.
How much can I borrow from Opay (Okash) for the first time?
Even though it is easy to collect a loan from opay, you can't actually collect that much money for the first time, if you are collecting the loan for the first time, you can collect from 3000 Naira to 50000 Naira maximum. So if you are looking for a much better loan maybe to use it for a business or something big, then Opay loan is not the right platform for you.
There are actually a lot of other platforms that you can borrow money from on the internet, some of them can give out loans from 100,000 Naira to 300,000 Naira.
What happens if I don't pay Opay loan?
If you fail to repay the loan you borrowed from opay, your account will be in default, and if you have money in your bank account, it will be deducted automatically by opay. But if you don't have up to the amount borrowed, it will also be deducted until everything is repaid.
It is always advisable that you repay the loan you borrow to avoid being sued. In fact, I will personally advise you to stay away from loans if you are not sure you will be able to repay.
How to repay Opay loan
You can repay your okash loan in a few easy steps, just login into your okash account and you will see a button that reads "Repay", click on it, you will be asked a few questions such as your experience using the service and so on, answer all the questions asked and continue with the repayment process, this should take less than 5 minutes.
In most cases, opay will deduct the money directly from your bank and help you make the repayment, so you may not need to go through all the process of you making a repayment, just make sure you have up to the borrowed money in your bank account or opay account, in this way, opay will help you with the whole process.
FaQ
Here are a few frequently asked questions about borrowing money from opay (okash loan) so read through them and also leave a comment about this post.
What is okash loan USSD code?
If you don't want to use the complicated methods, or you don't have access to your smartphone, you can use okash loan USSD code to take a loan and also repay the loan you have borrowed from opay (Okash) this USSD option makes it a lot easier to borrow loan on opay than the normal method which is done on a smartphone.
Okash loan USSD code is *955#, when you dial this code on your phone, just follow the simple on-screen prompt to either request for a loan or make a repayment of the loan you have already borrowed from opay.
What is Okash loan interest rate?
Just so you know, apart from paying the loan you borrow from okash, there is an interest rate attached to every loan you request on opay, this interest rate is how opay actually benefits from the service, so if you are looking for a loan platform that don't add an interest rate, you may need to read about our other loan posts. Remember I told you that there are many other platforms where you can get access to loans in Nigeria within minutes, most of them don't even need you to submit a guarantor's profile.
Okash loan interest rate is 30% if you are repaying in a year, but if you are repaying every day, it will be 1% daily, which means you are going to finish repaying the loan in 100 days.
Final thoughts on Okash loan
So that's all you know on "how to borrow money from opay" if you find this post helpful, make sure you share this post with others so they will also benefit from it, and if you have any questions regarding opay loan (okash loan) don't hesitate to write it down in the comments section and I will personally make out time to answer all your questions.
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