If you’re looking for a personal loan, then look no further. OKash offers loans ranging from a minimum of NGN 5,000 and a maximum of NGN 50,000. Their interest rates are as follows: 14% interest for a two-week repayment period. They also have flexible interest rates that can be tailored to your budget and financial requirements.
In this article, we’ll provide some insight into how you can use Okash loan app to find the type of loan that works best for you.
About Okash loan
Lending money to people you know can be a great way to find new friends and business connections. But as nice as it is, lending money to complete strangers isn’t always the most practical solution.
My name is Okash (is Opay’s) and I wanted to help fund my dream trip with the help of some friends at Opay, so we developed our online lending service called Okash Loan app.
The most important thing about OKash loan is the ease of use and speed. Users can fill out a set of questions, link their bank account for easy cash disbursement, apply for a loan and get approved in minutes with paperless – that’s the beauty of Micro-lending.
Advantages
The Okash loan app is great for those who need a fast loan to help with an emergency. It’s also great for people who have bad credit and can’t get a loan through a traditional bank. If you’re in the market for a loan, you should definitely check out this app.
- Fast approval process within minutes.
- No collateral required.
- No guarantor needed.
- App is available on Android
Disadvantages
It is a useful financial tool for those who want to get ahead financially and need some money to do it. However, there are some issues that you should consider before you decide to use OKash as your loan provider.
- Privacy concerns
- Cost of loan repayment is high. There are other cheaper options
- Loans are for short-term
- It has a maximum amount you can borrow.
Who is eligible to apply for a OKash loan?
OKash is a loan product designed to help you deal with unexpected expenses. It offers you an opportunity to get money quickly and easily, without the hassle of lengthy paperwork or the need for credit checks.
You are eligible to apply for a OKash loan if you meet the following criteria:
- Valid bank details: You will need to provide your valid bank account number, debit card details and pin code. The account should have no pending transactions.
- Valid ID card. If you don’t have an ID card, then you can prove your identity by showing: Your passport, A driving license
- BVN number. If you don’t have a BVN number yet, then you can check BVN online one here. This number is required so that your loan application can be processed faster.
- You should be between 20-55 years old
- If you have Android Phone then you are eligible for getting an OKash loan
Loan Limits and Interest Rate
OKash is the first online lender that offers loans ranging from a minimum of NGN 5,000 and a maximum of NGN 50,000. The loans are for short-term purposes.
The loan can be used for purchasing goods or services, paying for education expenses, starting a business or buying assets such as cars, homes and personal property.
The interest rate varies depending on the amount borrowed and other factors such as credit history and the purpose of the loan.
- 14% interest for a two-week repayment period
- 16.8% interest for a 21-day repayment period
The fees are deducted from the loan amount borrowed. i.e the amount received is less than the amount borrowed. (The difference covers additional fees of running the loan and interest on the loan deducted upfront.)
How to apply OKash app
1. On your Smartphone, go to Play Store and search for the OKash loan application.
2. Input your phone number and Click Sign in/ Sign Up
3. Input your OTP
OTP has been set to your mobile via SMS starting with BRMBNG or Calling
4. Create a password
5. Click ‘Agree’ on the Terms of Service
６. Click ‘Apply now’ – Apply your frist OKash loan
7. Fill in the below details:
８. Add a bank account to receive your loan
9. OKash’s estimating your loan, it will cost 2-10 seconds
OKash loan review
What most users would agree on is the great convenience provided by the OKash loan app. Whether it is for budgeting, short-term needs or long-term investment, having a quick and easy means of accessing personal finance is definitely useful.
Jennifer Dennis – Honestly this is the best loan app I have seen so far. Repayment was so easy via mobile app/banking. I repaid and it wasn’t up to 20 mins I was credited with my new requested loan. Just that the repayment period you guys gave me this time is too short, I really wish something can be done about your repayment tenor. Keep it up guys. It’s an awesome experience with your app.
Abbas Ibrahim – This is one of the best credit platform. The App has a simple way of receiving the cash instantly. But the interest is somehow high. Pls you have to look at how to subsidize your interest considering the economic chanllenges in the country. I give it four and half rating stars.
Oluwakemi Ola – To be honest,best loan app ever. You are very reliable. However, I’ve been having issue with this app since yesterday. I applied for a loan that is yet to be disbursed into my primary account. I’ve sent series of mails to your email but no response till now. The loan is still processing since yesterday. I’m sure it’s almost or over 24hrs now. Please, do something about it asap. Thanks
Jephthah Jonah – Very reliable. But they can really disturb, especialy when repayment remains two days to be due. Robot calls, too much phone calls and unnecessary steady meassages. Gush! Generally, every reliable loan app! I can recomendit for anyone,but i will advise the person to keep up with repayment scheme in order to attain better offers!
Favour Monday – The app good and easy to access loan I like the way they are operating but the period of repayment is still a problems for all of them and the high interest rate compared to our economy is like you are working for them,it should be 10%intrest per month as usual,but to all the app no you rather per and cry just because they know that you don’t have any options than to collect so give and collect eavy in a very little time
Contact
If you have any questions, you can contact us with following ways:
• Phone number: 08097755512
• WhatsApp:+2349019099999
• Email: support@o-kash.com with you registered phone number in the subject.
We will contact you as soon as possible.
Conclusion
OKash is a convenient way to get cash loans. It doesn’t take much time or effort to apply for a loan. OKash is the best way to get cash when you need it. The fact that you can do this across various channels, such as through an app, on the phone, or on the web indicates a high level of convenience and flexibility not usually found with similar loan services.
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