With two years of records of impressive loan services, the Okash Loan App provides mobile on-demand loans to clients at affordable interest rates.
The app has been available since its launch in 2018 when Blue Ridge Microfinance extended its debt securities to all Nigerians. As proof of its value, the Okash Loan App enjoys wide usage in many African countries currently.
Okash Loan App: Overview
Since its launch in Nigeria, the mobile application lends money without the luggage of paperwork or daunting collaterals.
It is an easy-to-access kit for on-the-spot borrowing. A micro Digi-lender, the Okash Loan App is a prime product of Opay, which is an incorporation of Opera Group. Together with other start-up fin-tech services, the Okash adapts technology to make banking easy for people.
Moreover, the app offers affordable loan terms and caters to all kinds of consumers
Who Can Borrow?
Note that you can enjoy the services better if you adhere strictly to the rules below. Below are the criteria:
- Have a Biometric Verification Number (BVN)
- The borrower will be demonstrably employed, with a consistent source of income.
- Age specification must not be outside of 20-55 years.
- Present valid bank details
- An ID picture cropped to a specified size
- Lastly, an application form requesting a loan from Okash
Subsequently, you can apply for a loan through the procedure in the following section.
Loan Application
To download the Okash Loan App, follow the steps below:
- First, download the app from the Google Play store and install it on your mobile device.
- Open an account with Okash.
- Enter your newly-created account and view your loan credit (limit)
- Choose the amount you want to borrow and click on it.
- Set a period for the loan.
- Then click on Apply.
- After a preliminary check, Okash replies to your request with a message the of loan amount debited to your Okash wallet.
- Finally, you can withdraw the loan at the bank through a streamlined Okash withdrawal service.
Okash Loan Repayment
Since you already set a loan period, you can make remittals to your creditor (Okash) within that time. However, upon expiration, the loan will be deducted from your account.
Below is how you can repay your loans using the Okash Loan App:
- Sign in to your account.
- Select Make Repayment
- Then enter all relevant information in the repayment form
- Now, review it carefully and click on Repay
- Subsequently, Okash will reply with a message confirming that the loan repayment is successful.
Loan Interests
Depending on the magnitude of loan, Okash offers interests in the following range:
Annual Percentage Rates (APR) apply at 36.5% per annum.
As a preliminary, though, you will have to make an initial deposit in the bracket of 1,229 to 6,000 naira.
This amount is known as an origination fee.
How to Download Okash Loan App in Nigeria
To download the Okash Loan App, follow the steps below:
- Open Google Play Store
- Enter Okash Loan App in the search box.
- Click on search.
- Once the app is displayed, click on Download App.
- Finally, install it on your mobile phone.
