Getting money in Nigeria has become much more easier thanks to the fast-growing online loan companies like Opay Loan (Okash Loan), Palm Credit, QuickCheck & Others in recent years.

They provide instant, short-term loans without asking for any collateral. These days, you can access different types of loans, such as student loans and personal loans, business loans, making the process quite convenient for everyone.

In this article, We’ll be sharing how to take a loan from Opay (Okash). Let’s get it!


If you are a Nigerian and wish to acquire a loan from the OKash loan service, you must meet the following requirements:

  • A valid mobile phone number where you can receive your verification code.
  • Your National Identification Number (NIN), which confirms your name and age.
  • Bank Verification Number (BVN): This is to verify your banking information and ensure that you are not owing money from other loan businesses.
  • A Nigerian bank account into which you would deposit the loan proceeds
  • You must be between the ages of 20 and 55 to apply.
  • The loan applicant must have a consistent monthly source of income.

If you do not meet all of these qualifications, you should work to meet them. If you are eligible, proceed to the next step and download the OKash loan app.

How to Borrow Money from Opay

Follow these simple steps to borrow money from Opay (Okash Loan):

  • Download the Opay Mobile App: Visit your device’s app store and download the Opay mobile app. It is available for both Android and iOS devices.
  • Create an Opay Account: Open the app and follow the registration process to create an Opay account. You may need to provide some personal information and verify your identity.
  • Log in to Your Opay Account: Once you have created an account, log in to your Opay account using your registered credentials.
  • Access the Loan Services: Within the Opay app, navigate to the loan section or finance section to access the loan services.
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  • Apply for a Loan: Follow the instructions provided within the app to apply for a loan. You may need to provide additional information, such as your employment details, income, and loan amount.
  • Submit Your Loan Application: After providing the required information, submit your loan application through the app.
  • Wait for Approval: Opay will review your loan application and notify you about its status. The approval process may take some time, so be patient.
  • Receive the Loan Amount: If your loan application is approved, the loan amount will be disbursed to your Opay account.

Opay offers different types of loans, such as personal loans, business loans, and student loans. The loan terms and interest rates may vary depending on the type of loan and your eligibility.

Maximum/Minimum Amount You Can Borrow

The maximum amount you can apply for at any given time on OKash is N50,000. You can apply for loans as low as N3000.

How To Repay Opay Loan (Okash Loan)

  • Open your mobile app
  • Log into your account
  • Click on the button that says ‘make a repayment’
  • Provide all required details
  • Click on the “REPAY” button

It’s important to note that the platform uses a method that automatically debits your bank account when your loan payback is due. This implies you don’t have to go through the processes outlined above if you have a sufficient amount in your account.

Frequently Asked Questions (FAQ) 

  • How Much Can I Borrow From an Okash Loan App As A First Timer?

As a first-time borrower, you can borrow between N3,000 and N10,000. However, your ability to return your first few loans on time without delay raises your maximum amount limit.

  • Which Company Owns Okash?
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Blue Ridge Microfinance Bank Limited owns Okash. The Central Bank of Nigeria (CBN) has authorized this company.

  • Okash Loan Interest Rate

The Okash loan’s daily interest rate is between 0.1% to 1%. The monthly interest rate is 5% to 10% while the annual interest rate is between 36.5% and 360%.

  • Where is Okash’s head office located?

OKash has a head office address in Nigeria. From this office, they maintain the OKash loan service and also attend to customer issues.

Their head office is located in Room 301, Japaul House, Plot 8 Dr. Nurudeen Olowopopo Way, Central Business District, Ikeja, Lagos, Nigeria.

  • OKash Customer Support and Email Address

For questions and complaints, you can reach out to OKash customer care through their email address and customer care hotlines.

Customer care line: 08097755512, 08097755514

Email address:

  • Is Okash Legit?

Yes, Okash is a legitimate lending service that complies with relevant financial regulations and standards. It’s part of the broader Opay financial ecosystem.


OKash, a part of OPay, is a dependable company that provides fast loans in Nigeria. Applying for a loan on the app is easy. You get it disbursed into your account within minutes.

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