How can I apply for Okash loan using OKash loan app in Nigeria? You must have heard a lot about the Okash Loan since its launch in 2018 and are probably curious about how the mobile app works. Welcome aboard!
Here we are going to review the mobile app, interest rate, requirements, and instant loan application/repayment.
OKash Loan App In Nigeria
Okash Loan is currently one of the best loan apps in Nigeria for fast loans without collateral or paperwork
It is a handy mobile app that allows users to get cash advances at short notice.
Okash is a microcredit product from Opay, a fintech subsidiary of the Opera Group, the founder of the Opera Mini web browser.
Loans are offered to individuals, wage earners, and entrepreneurs through the Okash mobile app, which can be installed from the Google Play Store.
Okash loan requirements
Before applying for a loan through the Okash app, you must specify the requirements.
If you do not do the above, you will get the desired cash advances.
The requirements include:
- Valid bank details (account number, account name)
- Valid identifiers
- ID photo
- BVN number
- You must be between 20 and 55 years old
- monthly income
- Fill in the Okash application
How to apply for an Okash loan Using OKash loan app in Nigeria?
- Download Okash Loan App from Google Play Store
- Register by creating an account
- Log in to your Okash account
- Check your displayed credit limit and select the amount
- Select the refund period and click “Apply”.
Then wait a few minutes until you receive a notification that your application is being reviewed
Once the application has been reviewed, the funds will be transferred to your Opay wallet, from which you can withdraw funds to your bank account.
Keep in mind that consistently paying back your contributions will increase your credit limit.
How to repay the Okash loan?
- Open the Okash app on your mobile device
- Then log in to your account
- Click on the “Refund” option
- Fill in the required information
- Double-check the accuracy and attached details
- Then select the “Refund” button
- Once the transaction is successful, you will receive a notification to confirm that the loan has been repaid.
Please note the following: Okash uses the automatic debit system, which immediately takes your balance due date.
Okash loan interest
The Okash rate is between 0.1%-1% per day with an APR of 36.5% per annum and a one-time subscription price ranges from N1,229 to N6,000 in Nigeria.
Benefits of Using Okash Loans
- Okash is fast, safe, reliable, and very user-friendly
- Great customer service
- No collateral or paperwork
- No hidden costs
- You can get a loan of up to N50,000.
- No deferral of payment. Borrowing is arranged within 5 minutes.
OKash loan app in Nigeria – Conclusion
There you have it! All the details you need to get a loan quickly using OKash loan app in Nigeria when you are short on cash. Try to borrow only what you can repay to avoid penalties or reporting to the National Credit Bureau (NCB).