Updated 2024 | How to Borrow Money from Opay (Okash Loan)
Updated 2024 | How to Borrow Money from Opay (Okash Loan); Borrowing money from Opay is now easy and simple, but a lot of people don’t know how to go about it, that is why this post will educate you on whom to borrow money from Opay from the comfort of your homes
For clarity, OPay Digital Services Limited is one of the biggest brands when it comes to mobile-based financial services, it provides a wide range of financial services including debit and credit transactions, bill payment, TV and Satalight subscriptions, and lots more
The Opera Norway AS Group is the brain behead behind this technology and has more than 500,000 agents and 20 million users across Pakistan, Mexico, Egypt, Nigeria, and Kenya
With Opay, you can send and receive money, buy airtime, buy data, pay your TV subscription, pay your electricity bills, and more.
This post will formerly inform you of all the information needed to get your loan from Okash, all you have to do is to read to the very end.
Table of Contents:
How to Borrow Money From Opay Without BVN
How to Borrow Money From Opay Video
Opay Loan (Okash Loan) USSD Code
Opay Loan (Okash Loan)
Opay Loan (Okash Loan) Requirement
Opay Loan (Okash Loan) Interest Rate
How To Borrow Money From Opay (Okash Loan)
How to Borrow Money from Opay on iPhone
Frequently Asked Questions
How To Borrow Money From Opay (Okash Loan) as Updated
Opay Loan (Okash Loan)
Opay offers customers flexible loans for household and business purposes, its offers almost similar to service platforms like Palmpay with little interested
Its loan tenure is not just flexible, but attractive and full of goodies, you won’t be policed to pay your obligation at maturity
New customers upon application can get a minimum of 3000 naira and a maximum of 50,000 naira, of course; you don’t need collateral or any forceful documentation
The good thing is that their loan can be gotten through the OKash loan mobile app, a subordinate of OPay.
Loan Requirement as Update 2024
If you recall, even though, you don’t need collateral or documentation to process this loan, a few specific eligibility criteria must be met to access this loan
You must have a valid bank account and card
You must provide a Bank Verification Number (BVN)
You need to have a valid email.
You must be 20–55 years old
You must have a valid means of identification
Opay Loans (Okash Loans) Interest Rate as Update 2024
Depending on the money collected, Opay loan has a flexible interest rate ranging from 1.2% to 2% and up to 90 days of loan tenure
How To Borrow Money From Opay (Okash Loan) as Updated 2024
Customers can borrow money in 2 ways, including the Okash Loan App or USSD code.
Let’s start us start with the Okash Loan App:
1) Download the app by typing Okash Loan App from your mobile app store, using both Android and iOS devices.
2) Create an account by providing an active phone number and creating a password.
3) Complete your profile information by supplying the needed information where needed including Bank Verification Number (BVN), email, address, marital status, employment details, and monthly income.
Note-be certain that your name and date of birth correspond with your bank details to avoid having your loan declined. You must also provide other information like your
4) Give access and permission to OKash to track your contacts, location, SMS, calendar, and camera
5) Link your card– you will be asked by Okash to link your card by providing your card details. By providing your bank card details, the loan app can confirm that you are who you say you are and that you have the means to repay the loan.
6) Provide your bank account– you will supply the bank account where your loan will be disbursed, use a good commercial bank account, please
7) Choose your loan amount and submit your loan request; This option is very crucial in getting your desired loan, name the amount you have in mind and fill it in the space provided
It is worth understanding that, OKash utilizes data from your mobile device, financial transaction records, loan purpose, credit scores, and related information to decide an appropriate loan sum you can have for the first time. As you pay, you get access to an advanced amount.
How to Borrow Money from Opay on iPhone as updated 2024
For those using the iPhone, there is a simple and easier way to borrow money via Okash, using your App Store to install the Opay app on your iPhone. Following all guides to complete the loan process as explained above
Using the USSD code to Borrow from Okash
For those that have an account with Opay, dial *955#, and follow the instructions jealously.
How to Borrow Money From Opay Without BVN as Updated2024
For now, the CBN and NDIC have not permitted OPay(Okash) to allow users to borrow money without providing a Bank Verification Number (BVN).
This is because, there are money users who have collected loans on those platforms including commercial banks, microfinance banks, and others, but are not paying their loan
The CBN needs BVN to track all borrowers’ credit scores and financial transaction records.
FAQS on How to Borrow Money from Opay as Updated 2024
Does Opay Give a Loan as of 2024?
Absolutely yes, Opay does as of 2024 using their Okash OKash loan mobile app.
How Much Can I Borrow From Opay For the First Time?
This is depending on your credit score, income, employment history, debt-to-income ratio, and repayment history. For first-timers, the amount given is small to start with. As you pay, your credit score improves
Always pay your loan as at when due to get more when you borrow again
Overall Summary on How To Borrow Money from Opay as Updated 2024
Lending money from Opay (Okash Loan) is one of the easiest things to do, you can stay in the comfort of your home or office to borrow money
It is very important to read their terms and conditions when borrowing, this is because, terms change over time, and new rules and regulations are made to ensure safety and trust in the system
Don’t be a debtor, make a concerted effort to pay your loan upon maturity, to improve your credit scares and rating