How Does Okash Loan App works (Borrow Up to N50,000)

Are you in need of urgent cash to solve a problem but don’t know where to turn to okash Loan app should be able to help, how?

OKash loan application is fintech platform own by Opay a financial institution company that also own Operanews and Oride etc.

It is a micro lending platform that allows you to borrow money without any collateral, wow!

Okash was founded in Kenya in 2018 before it started operating in other countries like Nigeria and India.

Before, okash loan app was a feature in OPAY application. Before it was later moved to become a separate application on it own.

Okash (Opay loan app) is an android application that allow you to obtain loans, within 24hours after successfully applied.

You do not need to go out of your home before you can request for the loan, nor do you need to stress your self looking for different documents.

The first step to appy is to download the application on app store open the application and sign up.


How Does Okash Loan App Works?

Okash loan app

Okash loan application allow you to borrow money for a short period of time. that is, the payment plan is; 90 to 265days.

As a new user of the platform you can only be allow to borrow maximum of N10,000 this is to enable them to monitor your account before they can upgrade you after the repayment of the previous loan.

This kind of loan is usually good for people who are unable to get loan from bank, students or people looking for capital to start small business in Nigeria.

If you are not a new user of the application you can borrow up to N50,000 and use it to solve your problem.

Note: Okash loan application has one of the highest interest rate, but they are one of the fastest platform to get quick loan easily.


How to get quick loan from Okash:

Obtaining loans through the Okash loan app is quite easy, as it will take you only a few minutes to complete the loan application process from start to finish.

Before you can apply for any sort of loan, however, you are required to meet the set-out requirements by the platform.

Failure to meet these requirements will surely lead to your inability to obtain your desired loans.

The requirements:

  • Valid bank details (Account number, Name)
  • Valid ID card
  • BVN number
  • Android Phone
  • Age range of 20-55 years old
  • Complete Okash application


How Much Can You Borrow From Okash?

As I have stated earlier that as a new user of the okash loan app you can be allow to borrow upto N10,000 but as time go on and you have a good credit history with them you may have opportunity to borrow up to N50,000.

This is so that there will be security for the bank’s money, as we have seen cases where borrowers, especially first-timers, don’t repay loans granted them.

How much is Okash loan Interest?

Okash provide loans at interest rates is 36% depending on the loan amount and chosen repayment period.


Okash Loan Repayment:

If you have borrowed money from Okash before and you wish to repay, you can login to the application and click on repay loan.

But, before the repayment date, okash will send you a notification to remind you.


How long does Okash take to process a Loan?

After a successful loan application where you meet all the requirements, and you have no history of credit default, then you should be able to acquire the loans within 24 hours of your application.

Loans usually get to borrowers within 5 minutes of application, but there are times where the verification process takes longer than usual, but the maximum is still 24 hours.


What Happens when you don’t Repay your Loans?

This is one of the major reasons why borrowers must have a repayment plan for loans before acquiring them.

This is because most borrowers live to regret why they borrowed in the first place if they are unable to repay.

Due to the access of the Okash loan app to your contacts, embarrassing messages about your failure to repay loans acquired will be sent to most of your contacts, and the company might end up suing such borrowers for even more due to damages, and so many other things you will want to avoid.


Okash Contact

In case you have any questions or enquiries about the Okash loan app and their services, you are free to contact their official email at


The fact remains that Okash loan app is one of the easiest ways to obtain soft loans in Nigeria without the need for the long, stretchy processes borrowers are usually put through in traditional banks.

Without a doubt, the Okash app is one of the top fintech companies in Nigeria.

Their experience in this business for a while adds to their credibility as a trusted source to get fast loans to satisfy your personal, and business financial needs.


How to Apply for a OKash Loan

To apply for okash loan is very easy and I will be showing you the step by step guide to get quick loan from them.

  1. Download OKash App: Go to playstore and search for (Okash loan app), download the application and install it on your phone.
  2. Open the App: Open the newly installed OKash app and sign up with your mobile or cell phone number.
  3. Signup/Login to OKash: If you already have an OPay account, you do not need to signup. You can just login with your OPay login details.
  4. Accept Terms and Conditions: Read the terms and conditions of the service and if you agree to it, click Continue button to accept the terms and conditions.
  5. Confirm Acceptance with a Verification Code: Once you accept the terms and conditions a six digit verification code will be sent to you via SMS to your phone. You confirm your acceptance by entering the correct 6 digit number.
  6. Create a PIN: Create a four digit PIN code. You enter the code twice to ensure you get it right.
  7. Give Permissions to the Quick Loan App: Next, OKash will ask you to ALLOW your phone to give it location permission. Click on “Allow”.
  8. Apply for the Loan: Because you are using the OKash service for the first time, there is a limited amount of loan you can take for first-time. Loan amount can be as low as 3,000 Naira to up to 10,000 Naira, while tenor of loan ranges from 90ays to 365 days.
  9. Choose the loan amount that is most comfortable with you and your pocket and if you are sure you can pay it back.
  10. Next is to choose the number of days within which you will pay back the loan. This is called repay term. The cost of your interest will depend on the repay term.

In practice, OKash seems to calculate the minimum loan you can take. For example, in my own case the minimum was 10,000 Naira, despite being a first time user.


Once you have settled on a loan amount and repayment tenor, OKash will automatically calculate the interest and total cost to show you how much you will pay back and a breakdown of how you are expected to pay back.


  1. Give Reason for Wanting Loan: Next is, you will be asked of your reason for taking the loan. Select the purpose that most suits you.
  2.  Next step is to click the “apply for loan button”.
  3. Then you will be asked of your address, location, calendar and other essential permissions. Give your permissions.
  4. Click on “submit” for your loan to get approval.
  5. Upload your ID photo or just take a selfie on your phone and upload it.
  6. Click on the last “submit” button for your loan to be disbursed to your wallet. It is not an immediate process, so you will need to be patient.

OKash will send you an alert on your phone number informing you that your application is being reviewed. Once the loan is approved, the money will be paid to your OPay Wallet from which you can withdraw to your bank account.


Related: Top 10 Best Loan Apps To Get Fast Loan In Nigeria Within 24hrs


How To Check Okash Loan Balance:

  • Tap on the menu icon located at the top left.
  • Select ‘Loan History’
  • The next screen will display your entire loan history with the most current one indicated as Active.
  • Click on Active loan to get additional details regarding installment amounts and due dates.


How to repay Okash loan:

They have made it as easy as possible for you to repay your loan, here are ways of paying an OKash loan.

  1. They will auto debit due amount at repayment date direct from your bank card . Make sure the card has sufficient balance before due date.
  2. You can pay via the App by clicking the “Make a Repayment” button.


How can I make an early repayment?

If you want to make a payment prior to your due date, please click the ‘Make a Repayment’ button that appears on the ‘My Loan’ page of the app.


What happens if I pay my loan late?

Late loan repayments automatically incur a rollover fee of 2% per day. It is therefore advised that one does not exceed the repayment period. Furthermore, this could reduce your future borrowing credit score.


Before you borrow money;

Remember it is cheaper to repay loans over a shorter period. Ask what the fee rate is and work out what this means for you. Compare fee rates.

Look at the small print, which explains all the terms and conditions. Remember that fee rates could change, and your installment could increase.

Calculate extra costs like administration fees into your installment.


Okash loan app is safe to use and it is one of the fastest loan app you may see online.

I will be glad to hear you view concerning this loan app.

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