Do You Want A Loan?
Okash Loan is Opay’s automated lending service focused on increasing access to credit to financially under-served/excluded individuals in Nigeria. Loan decisions are provided within 15 seconds and when approved, the applicant receives funds within 5 minutes. 24 hours a day, 7 days a week.
It offers convenient and quick loans for those seeking to borrow money without the hassle of providing collateral. Be it a student loan, a payday loan, or other type of loan, with an Okash Loan you can easily find suitable options to your needs. In this post, you’ll get a detailed step-by-step walkthrough of the process of obtaining a loan from Okash.
How Download and install the Okash mobile app
Visit the Google Play Store and download the Okash mobile app to your Android device. You must have a data subscription on any of your mobile networks (Mtn, Glo, Airtel, or 9Mobile) to Install the app.
Create an account: Sign up for an account within the Okash app by providing the necessary personal information, such as your name, contact details, and identification details. Follow the on-screen instructions to complete the registration process.
How to Apply for Okash Loan
Once you have created an account, log in to the Okash app and navigate to the loan application section. Fill out the application form, specifying the loan amount you require and providing any additional requested information.
Wait for loan approval, Okash’s automated system will process your loan application within 15 seconds and provide you with a decision. If approved, you will receive the funds within 5 minutes.
Review loan offer and terms: After your loan application is approved, Okash will present you with a loan offer detailing the loan amount, interest rate, repayment terms, and any associated fees. Take the time to carefully review and understand the terms before proceeding.
Accept the loan offer: If you are satisfied with the loan offer and terms, proceed to accept it within the Okash app. This may involve electronically signing the loan agreement.
Furthermore, after accepting the loan offer, the funds will be disbursed to your designated bank account within a few minutes.
How to Repay the Loan Received from the OKash App
Okash offers short-term loans designed to be repaid by your next payday. The repayment method is a direct debit from your bank account. Ensure that you have sufficient funds in your account on the due date to avoid any issues.
Also, if you are unable to repay via direct debit, you can transfer the repayment amount to Blue Ridge Microfinance Bank Ltd., using the provided Zenith Bank Plc. account details. Make sure to include your BVN or registered phone number and full legal name in the remarks section of the transfer. After a successful transfer, send the transfer details to [email protected] for verification and to update your loan status.
Finally, always borrow responsibly and only take on loans that you can comfortably repay. It’s important to understand the terms and conditions of the loan, including the interest rates and fees involved.
How To Contact Okash Costumer Service
If you have any further questions or concerns, you can reach out to Okash directly through their customer support channels for the most accurate and up-to-date information.
Email: [email protected] with your registered phone number in the subject. They will contact you as soon as possible.
Some FAQs About Okash Loan
How much can I borrow from Okash?
Okash typically offers loans starting from N10,000 for new borrowers. The loan amount you can qualify for may vary based on factors such as your creditworthiness and repayment history.
How do I cancel my OKash loan?
OKash allows a maximum period of 24 hours from the moment of disbursement within which the loan can be cancelled. If you have applied for the loan by mistake, please repay the principal within 24hours, then contact our customer service at your earliest convenience to clear the loan.
What will happen if I don’t pay my OKash loan?
If you fail to repay, you will be in default.
If you are unable to repay the loan on the scheduled due date, it is important to contact Okash as soon as possible.
Furthermore, they may be able to provide options such as a loan extension or a revised repayment plan.
However, failing to repay the loan on time may result in additional fees, penalties, and a negative impact on your credit history.
Can I apply for another loan if I have an existing one with Okash?
Okash’s policy regarding multiple loans may vary. Some lenders require you to repay your existing loan in full before applying for a new one, while others may allow you to have multiple loans simultaneously.
Also, it’s best to check with Okash directly for their specific policy on multiple loans.
Is OKash loan real or fake?
The OKash loan app is not a scam. You have to follow the app instructions to avoid any difficulty in getting or repaying a loan.
Blue Ridge Microfinance Bank Limited is a company that economically empowers micro-entrepreneurs and low income earners by providing Short term loans using our app OKASH.