How To Get 50,000 Naira Loans From Okash

Published by Owolabi Abdulmujeeb A. on

OKash is an ideal platform for small loans. Do you want a loan with no collateral? Are you too lazy to leave the house or simply don’t want to deal with the stress of obtaining a bank loan?

Okash loan
Okash Loan Application

The good news is that you can easily get loan from OKash. OKash is a micro-lending platform that allows you access to apply for loan in Nigeria and other Africa countries. It’s purely collateral-free loans.

In certain countries, OKash is a standalone app, but in others, it is integrated within the OPay app.

How Did OKash Started?

OKash is one of the optional services offered by Opera Pay as part of its O universe. Other services include OFood, OBus, ORide, and others. OKash was first introduced in Kenya in 2018 and quickly expanded to Nigeria and other African countries.

In fact, OKash has become so popular in Kenya that it is being used by Kenyan farmers in remote areas to obtain loans. OKash’s services are also available in India.

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How To Obtain An OKash Loan

OKash has been praised for its user-friendly navigation, which makes it simple for users to utilize the app, including the rapid loan app.
It’s incredibly easy to apply for a loan with OKash.

Get The OKash App From The Google Play Store:

The first thing you should do is go to the Google Play Store and get the OKash app (OKash is no longer built into the OPay app in Nigeria). OKash was previously part of the OPay app, however, it is now available as a separate app on the Google Play Store.

Simply download the OKash app from the Play Store by clicking on the install icon. After it has finished installing, proceed to the following step.

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Open the App: Sign up with your mobile or cell phone number in the freshly installed OKash app.

Signup/Login to OKash: You do not need to join up or login to OKash if you already have an OPay account. You can just log in using your OPay details.

Accept the following terms and conditions: Read the service’s terms and conditions and, if you agree, click the Accept button to accept the terms and conditions.

Verify Acceptance with a Verification Number: After you accept the terms and conditions, you will get a six-digit verification code through SMS to your phone. By entering the right six-digit number, you confirm your consent.

Make a PIN code: Make a PIN code with four digits. You enter the code again to make sure it’s correct.

Grant Quick Loan App Permissions: OKash will then ask you to ALLOW your phone to give it location rights. Select “Allow” from the drop-down menu.

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Apply for a Loan: Because you are using the OKash service for the first time, you are only eligible for a restricted amount of loan.

To go for the 50,000 Naira on the same 61-day tenor, you would be required to pay back 42,790 Naira within the first 30 days and 11,800 within the next 30 days to complete your payment.

The total cost of the loan here is 4,590 Naira, giving an effective interest rate of 9.18. So, it appears the interest is the same in both cases.

Give a Reason for Wanting a Loan: After that, you’ll be asked why you’re taking the loan. Choose the one that best fits your needs.

Next step is to click the “apply for loan button”.

How to Make Payments on an OKash Loan

When the payback deadline approaches, OKash will send you a reminder message.

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