The Opay platform is reputable for providing a variety of financial services to the public. Besides conventional transactions like sending and receiving cash, Opay also offers loan services. With Opay loans, you get fast access to instant cash without any collateral. Since this loan is collateral free, it has gained popularity here in Nigeria.
An Overview of Opay
Opay is a digital financial transaction platform that Opera Norway AS Group established. Basically, this platform offers payments, savings, loans, and other important services to its users. Opay boasts millions of users all around the globe and thousands of agents in Nigeria. Presently, one of the services that attract people the most is Opay loans. These loans are instant and easy to obtain with reasonable interest rates.
What are the types of Opay loans?
Opay’s official borrowing platform is Okash. Hence, if you need Opay loans, you should use the Okash loan services. With this loan platform, you can access and obtain instant loans from anywhere you are in just a few minutes. Below are some important details about this credit platform.
How can I borrow money from Opay?
As stated earlier, Okash is the official borrowing platform for Opay. Hence, to borrow money from the Opay platform you have to go through Okash or use the Opay loan code. Just follow these easy steps:
- First, download the OKash loan app on your smartphone. Note that you can download this app only on the Google Play Store. Hence, it is only available to Android users.
- Next, open the loan app and fill out the online application form to create an account for yourself. Verify your information via a call or text.
- Once you have completed the verification stage, apply for a loan on the Okash platform. Ensure that you go through all the terms and conditions before confirming your request.
- Wait to receive the loan amount in your bank account.
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What are the requirements to obtain an Opay Loans (Okash)?
Here is a brief list of the requirements to meet if you want to borrow a loan from Opay:
- You must be an official resident of Nigeria
- Your age range should be between 20 – 55 years.
- A valid ID Card
- BVN Number
- You must have a steady source of income. However, if you don’t, the platform will ask you why you need the loan.
What is the maximum and minimum amount of loan you can borrow from Opay (Okash)?
The maximum sum of money you can borrow from Okash is 50,000 Naira. You can borrow a minimum amount of 3,000 Naira. Their borrowing service is very seamless.
What is the loan tenor and interest rate for Opay loans?
The everyday interest rate that Opay charges their borrowers is between 0.1% to 1%. As for the annual interest fee, it is within the range of 36.5% and 360%. Asides from these charges, you need to pay a small origination fee during the loan application process. This fee varies from N1299 to N6000. The platform gives you a tenor of 91 – 365 days to repay the loan.
How can I repay Opay Loan?
If your loan is due for repayment, follow these steps to reimburse the loan:
- Open your Okash mobile app.
- Next, go to your account profile and tap on the ‘make a repayment’
- Input all the important details, cross-check them, and tap the “repay” button
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How can I contact Opay?
You can easily reach out to Opay via these ways:
Address: Alexander House, Otunba Jobi Fele Way, Ikeja, Lagos, Nigeria.
OR 103 Allen Avenue, Mosesola House, Ikeja, Lagos, Nigeria.
Phone Numbers: 07008888328 OR 01888328
Email Address: customerservice@opay-inc.com
Website: www.opayweb.com
Bottom Line
Opay loans, also known as Okash, offer borrowers instant loans without any need for collateral. With the Okash platform, you can obtain readily available loans in a few clicks. All you need is your smartphone and data to connect to the internet. Let’s conclude by saying that this loan is suitable for you if you need money urgently without having to go through any stress of providing loan collateral.
