Opay (Okash loan)Loan app: App download, Signup, Login, how to apply, Interest Rates, loan ussd code, customer care
In the fast-paced world of online transactions, Opay, a mobile platform developed by the internet giant Opera, has emerged as a comprehensive online payment platform. One of its standout features is the ability to provide hassle-free loans through its service, OKash. In this article, we’ll walk you through the simple steps to borrow money from Opay, outlining the requirements and shedding light on the interest rates.
How to Borrow Money from Opay (OKash)
Opay has streamlined the borrowing process to make it quick and hassle-free. Here’s a step-by-step guide:
- *Dial 955# from your registered Opay number
- Select ‘loan’ from the menu
- Follow the prompts to apply for your loan
- Receive your disbursed loan directly into your account
Loan Amounts: Flexible Options
Opay provides flexibility when it comes to loan amounts. You can apply for loans ranging from as low as N3000 to a maximum of N50,000, catering to a variety of financial needs.
Opay Loan Requirements
The eligibility criteria for an Opay loan are straightforward:
- Nigerian Residency: The applicant must be a resident of Nigeria.
- Age Bracket: Applicants should fall within the age range of 20-55 years.
- Source of Income: Applicants must have a source of monthly income or provide a valid reason for needing the loan.
- Valid ID Card: A valid identification card is required.
- BVN Number: Ensure you have your BVN number ready (learn how to check BVN).
Opay Loan Interest Rates
Understanding the interest rates is crucial before opting for a loan. Opay’s OKash offers competitive rates:
- Daily Interest Rate: Ranges from 0.1% to 1%
- Annual Interest Rate: Between 36.5% and 360%
Additionally, an origination fee is applicable, ranging from N1299 to N6000. The loan duration varies, with the shortest tenure being 91 days and the longest lasting up to 365 days.
Conclusion:
OKash, as part of OPay, stands out as a dependable platform providing swift loans in Nigeria. Whether you’re facing unexpected expenses or planning a small investment, OKash offers a seamless borrowing experience. By following the easy steps outlined above and meeting the simple requirements, you can access quick funds to meet your financial needs.