Opay Loan: How To Borrow Money From Opay – Okash

Do you need an urgent loan from Opay and you don’t know how to go about it? Don’t worry we have got you covered. Although there are many loan apps out there, some demand too much of interest and the payment date might be short. Opay remains one of the banking apps that gives loans with a low interest rate and also a long payment date. Stick with us and we will be providing you with certified information on how to borrow money from Opay effectively and swiftly. 

Opay is not actually the one giving the loan, they are more of a partner with Okash and that’s why anytime you click on borrow loan on your opay account it redirects you to Downloading Okash. After downloading Okash, all the necessary information you need to get your loan approved will be shared with you in this article. 

Opay as some of us might know is a mobile banking app that is used for funds transactions. As a business man or woman, you can receive money for goods bought from you and as a consumer you can receive funds and transfer funds easily.

Although this app is mostly used in Nigeria for sending and receiving funds, it also have other uses which we will be revealed in this article, stick with us and not only will we give you a step to step guidelines on how to borrow money from the app, we will also give you additional details on other things you can do on the app. 

Does Opay Give Loan?

Yes, Opay gives loan to those who meet up with the requirements. Hence, before you proceed to applying for Opay loan, make sure you have the below requirements ready.

Opay Loan Requirements


Before we give you the steps on how to borrow money from Opay, let’s quickly give you a hint about the requirements you must meet before you are liable to collect a loan from OPay. 

  1. Age limit of 20-55 years old
  2. You must provide a valid identification Card 
  3. You must have a valid bank account and card
  4. You must provide a Bank Verification Number (BVN)
  5. A valid email address is also required.

Without these above-mentioned requirements, people collecting loans may choose not to pay back and this will be a downside to the business, that’s why you must meet up with these requirements to be liable to collect a loan from Opay.

Opay loans are Swift, reliable and their interest rate is low, which is why many people prefer Collecting loans from Opay rather than from other loan services.

How To Borrow Money From Opay (Certified Steps)


Now let’s dive into the main topic. If you are looking to borrow money from Opay, and you are sure you have met the above mentioned requirements, follow the steps below.

Step 1: Download Okash

Opay doesn’t give loan on their app, they rather direct you to download the app they use for giving loan which is Okash. You can download Okash from play store or apple store, this implies the app is available on Android device and iOS devices. 

Step 2: Create An Account

If you are using the app for the first time, all you have to do is provide your phone number and create a password. A pin will be sent to you in the form of SMS, this pin will be used to verify your account. You should know that a valid phone number that has not been used to register an account before must be provided. 

Step 3: Give Access And Permission

After creating your account, you will be required to give Okash access to some stuff on your phone, including your contacts, messages and also your camera. With this access provided, Okash will determine your loan limit. In Fact this is the most important part that will determine whether the loan will be approved or not

Step 4: Linking Your Bank Card

Another crucial part of the loan is the provision of your card details. Okash does this to verify the identity of the person borrowing loans and to know whether he’s capable of paying the loan or not. Make sure you provide valid card details or your loan collection won’t be approved.

After providing your BVN and card details, your loan will be automatically paid. If your card is not activated for online transactions, your loan won’t be approved so we advise you Activate your card before seeking for the loan.

Step 5: Provide Your Bank Account Details 

You will be asked to provide the account in which the money will be sent to, after that, you will proceed to selecting the amount of loan you want and Okash will review whether you are eligible for that amount or not. At most times your bank transaction history plays a huge role in the amount of money you will be liable to borrow, so don’t be surprised if Okash did not give you the amount you wish for. 

Opay Loan Interest Rate


Opay interest loan is quite low unlike other loaning apps, their interest rate depends on the category of loan you are taking. For example Easemoni loan interest rate ranges from 5% to 20%, while Okash interest rate ranges from 3% to 30%.

You should also be aware that your interest rate depends on your credit score. If your credit score is high your interest rate will be low while if your credit score is low your interest rate will be high. 

To repay your loan, all you have to do is click on the refund option and the account to pay the money into will be provided. If you don’t pay the money before the due date, the money in your linked account will be deducted automatically and at times the interest rate may increase. 

Opay Loan USSD Code


The Opay loan ussd code is *955#, you can use this code to borrow money from Opay, only if you have signed up for an Okash account already and meet you with the requirements.


Collection of Loan from Opay is Swift and reliable, to get your loan approved, you have to follow the above steps carefully and make sure you are providing valid information. The loan interest rate depends on your credit score. That’s why people that have been collecting loans from Opay before tend to have a lower interest rate than new users. We hope this content has been of great help to you. Stick with us for more updates.