How to Borrow Money from Opay (Okash Guide)

How to Borrow money from Opay: Are you in need of a quick loan but do not know which legit Loan app to go for? Do you have an interest in knowing how to borrow money from Opay? Well, you are currently on the right page.

Opay is considered to be one very good online banking app service that operates just like any bank app and also helps in the aspect of paying other bills and getting Data/Airtime without you having to visit any bank to get it done.

Opay is considered to be the fastest and easiest online banking app in Nigeria and aside from this, they have also made it possible for its customers to have access to borrowing money from a few legit loan apps them as Easemoni and Okash on its platform.

If you do not know how to borrow money from the Opay app, How to borrow money from Opay without BVN, or how to get an Opay loan on iPhone or Android, then you are on the right page.

In this guide, I will talk you through how to borrow money from the Opay app and all you need to know about it. Do well to stay on this page as all information will be provided below.

Overview of the Opay App

Opay is considered one of the fastest and easiest mobile app banking services app and their transactions and payment of bills are very swift, smooth, and fast. It is seen as one of the mobile apps that provides online banking and financial services in Nigeria and it has thousands of users with lots of impressive reviews on how well the app works.

While using the Opay app, you can seamlessly have access to a lot of transactions and services and aside from that, you can get to save your money and get interest for saving your money with them. You can also get the chance of getting to save money even while making certain transactions.

Aside from getting to save money while using the bank app, you can also get the chance to borrow money from them through a legit online loan app without any collateral and also get to use the Opay app to receive funds, pay bills, buy airtime/data and also get to enjoy free daily cashback on the app.

Check: Opay Investment Review

How to be Eligible for the Opay Loan

Here are guidelines and various eligibility requirements that you must meet to be able to borrow money from the Opay app. They include;

You must be a Nigerian citizen.
To get the Loan, you need to have a valid means of identification (e.g., National ID card, driver’s license, or international passport).
You must have a registered Opay account.
You also need to have a valid Bank Verification Number (BVN).
No matter what you do, you still have to meet these requirements and if you can meet them, you will be given the access to borrow any amount you need.

Check: Requirements for the Opay Recruitment

How Does Opay Loan Services Work?

It is being made known that Opay is not a stand-alone company. We have some major companies that offer their users a free collateral instant loan in cooperation with the Opay app.

By doing this, users of Opay can now have the opportunity of having access to loan services from popular Nigerian loan apps like Okash and Easemoni. This loan company offers low-interest loans online on its platform with the help of Opay.

From reports, we have come to discover that Opay does not work with some of these loan app companies anymore but this does not mean you cannot still borrow money from them or directly from the Opay app.

However, as an Opay user, all you need to do to have access to the loan services is to open an account with the Opay app, meet all the eligible requirements, and stand a chance to borrow money from them with no collateral and instant loan.

How to Borrow Money from Opay

Here are guidelines on how to borrow money from Opay app. Do well to follow the guidelines to accurately borrow the amount you need.

The first thing you need to do is to visit your Google Play Store or iOS Play Store to download the Opay App.
When that is done, you can then log in to your Opay account on the mobile app.
Do well to click on the “finance” tab at the bottom of the homepage.
Search for the “loan” option.
Click on your favorite between Okash and Easemoni and proceed to download it.
As a new user, you will be required to fill out the loan application form by providing accurate information about yourself, including your name, address, and phone number.
Do well to choose your current limit or enter the loan amount you want to borrow.
Read and Review your loan application details and click on ‘submit’.
Once the Loan application has been submitted, it will be reviewed and you will be notified if the loan has been approved or rejected within a few minutes or hours.
If the loan has been approved, the money will be sent to the account number you entered during your application process.
As you register for the loan, you need to read through the loan application, instructions and take note of the date you are to refund the loan alongside the interest fare.

Opay Loan USSD Code

For those who prefer using the Opay USSD code or those who do not have a smartphone to download the Opay app, you can simply follow our guidelines on how to borrow money from the Opay app using the Opay USSD Code.

Here are the steps to easily borrow money using the Opay USSD Code;

You need to dial *955# using the phone number you used to register with your Opay account.
Do well to click on the option that says “loan”.
When done, you can simply follow the prompt and apply for a loan.
Finally, you can get your loan disbursed into your account.

Opay Loan Interest Rate

It is important to note that just like every other loan app, Opay also has an interest rate which they charge you for borrowing money from them. Although this interest rate is usually very low, unlike some other loan apps.

The Interest rate used by Opay is usually determined by the loan service used. Okash interest rate ranges from 3 to 30% while that of Easemoni ranges from 5 to 20%.

It is also important to note that this interest rate depends on the amount you wish to borrow, as the amount increases, so does the interest rate too. Do well to note that if you fail to repay the loan, it will attract an increase in the interest rate of your loan.

Summing Up

Opay is a fast and easy online banking services that help users make transactions and also save money on the app. It also has loan services where users can easily have access to its loan services. If you wish to know how this works and how to borrow money from Opay, you can simply check it above and follow our guidelines to get your loan.

Author

Dora

This post is authored by Dora Edet, an Editor of Recruitment Portfolio. Boasting over a decade of expertise in the recruitment sector, Dora provides up-to-date information on jobs and recruitment topics, career opportunities, and breaking news stories.

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