Okash Loan App – How to Apply, Requirements and Benefits

Okash Loan App - How to Apply, Requirements and Benefits

Okash Loan: Everything You Need To Know. 

Are you in need of quick and convenient access to funds? The Okash loan app might just be what you need. Okash is a mobile loan application that allows users to access loans using their mobile phones. 

With a user-friendly interface, borrowers can apply for loans within minutes and receive funds directly to their mobile wallets or bank accounts. 

In this article, we will provide an in-depth overview of the Okash loan app, its features, benefits, and potential drawbacks to help you decide whether this app suits your borrowing needs.

Overview Of Okash

Okash is a mobile loan application that allows users to access quick and convenient loans using their mobile phones. The app was developed by Opera Software, a Norwegian software company offered by Blue Ridge Microfinance Bank, and is currently available in several African countries, including Kenya, Nigeria, and Ghana.

The Okash loan app offers loans ranging from as little as NGN500 to as much as NGN500,000, with repayment periods ranging from 90 to 365 days. The app uses a proprietary credit-scoring system to assess the creditworthiness of borrowers and determine their loan eligibility.

How Does Okash Work? 

Okash is a mobile loan application that offers instant loans to individuals needing quick cash. 

Here’s how Okash works:

  1. Download and install the Okash app on your mobile phone. 
  2. Create an account and provide your personal information and contact details.
  3. Apply for a loan by selecting the amount you need and the repayment period.
  4. The app will evaluate your loan application based on your creditworthiness, credit history, and income level.
  5. If your loan application is approved, the funds will be disbursed to your mobile money account or bank account within minutes.
  6. You will need to repay the loan on the agreed-upon due date. Failure to do so may result in penalties, additional fees, and damage to your credit score.
  7. If you repay your loan on time, you may be eligible for a more considerable loan amount with better terms in the future.

How To Download The Okash Loan App 

To download the Okash loan app, you can follow these steps:

  1. Go to the Google Play Store on your Android device or the App Store on your iOS device.
  2. Search for “Okash” in the search bar.
  3. Once you find the Okash loan app, click the “Install” button to download and install the app.
  4. Once the installation is complete, open the Okash loan app.
  5. Create an account with your name, phone number, and email address.
  6. Provide the necessary documentation for verification, such as your ID card or passport.
  7. After your account has been verified, you can now apply for a loan within the app.

The specific steps may vary depending on your device and operating system version.

Eligibility Criteria For Obtaining An Okash Loan 

The eligibility criteria for obtaining an Okash loan may vary depending on your country of residence, but generally, the following are the requirements:

  1. Age: You must be at least 18 years old.
  2. Identification: You need a valid government-issued ID, such as a national ID, passport, or driver’s license. 
  3. Employment: You must have a steady income source, whether employed or self-employed.
  4. Mobile phone: You must have an active mobile phone number registered.
  5. Bank account: You need a valid bank account to receive your loan disbursement.
  6. Creditworthiness: Your credit score and history may be considered during the loan application process.

Please note that Okash may have additional eligibility requirements depending on the type of loan. 

How To Apply For An Okash Loan 

Okash is a mobile loan app that provides quick and convenient access to credit to its users. Here are the steps to follow to apply for an Okash loan:

  1. Download the Okash app from the Google Play Store.
  2. Register an account by providing your personal information, including your name, phone number, and national ID number.
  3. Once you have registered, the app will prompt you to submit your loan application.
  4. Provide accurate and up-to-date information about yourself, including employment details and income.
  5. Choose the loan amount you require, and select the loan repayment period.
  6. Review the loan terms and conditions and agree to them.
  7. Submit your loan application.
  8. Wait for Okash to review your loan application.
  9. If approved, Okash will disburse the loan to your mobile wallet or bank account.

Note that Okash uses your credit score and other factors to determine your eligibility for a loan and the loan terms. Therefore, it’s essential to provide accurate information in your loan application.

How Much Can I Borrow From the Okash Loan App? 

You can borrow between N3,000 and N500,000 from the Okash loan app, provided you qualify. 

Okash Loan Interest Rate 

With a minimum of 0.1% up to 1%

Our interest rate is calculated daily—annual Percentage Rate(APR) from 36.5% to 360%.

Okash Loan Repayment Term 

Okash is a mobile loan application that offers short-term loans to its users. The repayment term for Okash loans usually ranges from 30 to 365 days, depending on the loan amount and the user’s repayment history.

When you take out an Okash loan, the repayment schedule will be provided, including the due date and the total amount due, including interest and fees. You must ensure enough funds are in your bank account on the due date to cover the repayment.

Benefits/Advantages Of the Okash Loan App 

Sure, here are some benefits of using the Okash loan app:

  1. Fast and Convenient: Okash loan app offers a quick and easy application process. Borrowers can apply for loans and receive funds within minutes without lengthy paperwork or physical meetings.
  2. No Collateral Needed: Okash loan app does not require collateral to secure a loan. 
  3. Flexible Repayment Terms: The app offers flexible repayment options that suit different borrowers’ financial situations. Borrowers can choose to repay their loans within 90 to 365 days.
  4. Competitive Interest Rates: Okash loan app offers competitive interest rates compared to traditional lending institutions. 
  5. High Loan Limits: Okash loan app offers higher loan limits to repeat borrowers who have a good credit history. This allows borrowers to access more funds by building a positive repayment history.
  6. Credit Score Building: Okash loan app reports borrowers’ repayment activities to credit bureaus, which helps build their credit scores. This means responsible borrowers can access more recognition and better terms in the future.
  7. Secure and Private: Okash loan app uses state-of-the-art security measures to protect borrowers’ personal and financial information. This ensures that borrowers can access credit without worrying about compromised data.
  8. User-friendly Interface: Okash loan app has a simple and intuitive interface that makes it easy for borrowers to apply for loans, track their repayment activities, and access support when needed.

Disadvantages Of the Okash Loan App 

The potential disadvantages or drawbacks of the Okash loan app that have been reported or identified by users and experts:

  1. High-interest rates: Okash loan app has been criticized for charging high-interest rates, which can be as high as 36% to 360% APR. This can make it difficult for borrowers to repay their loans and can result in a debt trap. 
  2. Hidden charges: Some users have reported that the Okash loan app charges hidden charges, which can add to the overall cost of the loan and make it more expensive for borrowers.
  3. Negative impact on credit score: Failing to repay loans on time or defaulting on a loan can negatively impact a borrower’s credit score, making it harder for them to access credit in the future.

How To Contact Okash Loan

Reach out to Okash via: 

Customer Service Email: support@o-kash.com 

Customer Service Hotline: (+234)08097755512,08097755514

Head Office: Room 301, Japaul House, Plot 8 Dr. Nurudeen Olowopopo Way, Central Business District, Ikeja, Lagos, Nigeria. 


In conclusion, the Okash loan app provides a convenient and accessible way for people to access small loans quickly and easily using their mobile phones. With its user-friendly interface, simple application process, and fast disbursement of funds, Okash has helped many people to overcome short-term financial challenges and seize opportunities. 

However, it’s essential to use Okash and other loan apps responsibly by borrowing only what you can afford to repay and avoiding default or multiple loans that can lead to debt traps.

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