Okash Loan App, Interest Rate, How to Apply, Repay, More

Introducing Okash Loan, a cutting-edge lender providing online loans to Nigerian citizens and small enterprises.

Okash loans provide low interest rates and no collateral requirements, making them ideal for funding unforeseen costs or starting a new business.

Describe Okash.

With Okash, you may receive soft loans without any hassle, which reduces the difficulties that come with conventional lending. Okash serves the needs of those looking for personal or business loans as a user-friendly platform.

Okash is one of the best lending apps in Nigeria thanks to its simple UI and user-friendly experience.

Rate of Interest and Duration

Okash loans have an interest rate that is daily calculated and ranges from 0.1% to 1%. This equals a 12.5% to 25% Annual Percentage Rate (APR).

For instance, a 91-day loan with a 3,000 NGN principal and NGN 273 in interest would result in a 3,237 NGN total amount payable.

With loan terms ranging from 91 to 365 days, Okash can meet a range of financial needs. The loan amounts range from NGN 3,000 to NGN 500,000, guaranteeing flexibility and compatibility for varied financial circumstances.

It is crucial to remember that late payments on your loan may result in fees and other charges.

Okash Loan Conditions

Okash needs the following to guarantee a smooth loan application process:

  • Email address that is legitimate.
  • Android mobile device.
  • age range of 20 to 55 years.
  • Nigerian citizenship.
  • valid photo identification card.
  • Account numbers, account names, bank cards (including ATM cards), and bank verification numbers (BVNs) are examples of bank information.
  • a regular monthly income source and an explanation of why you need the loan.

Download the Okash app

Okash is among the most popular loan apps with over 5 million downloads. Positive and negative customer comments can be found in the app store reviews, which offer information about the app’s effectiveness and user experiences.

Depending on your device, you may currently download the Okash Loan app either the Google Play Store or the Apple Store. All you have to do is go online, look for the Okash Loan app, and download it on your phone.

Applying for an Okash Loan

It’s easy to get an Okash loan by doing the following:

  • Get the Okash app from the Play Store and install it.
  • Use your name, BVN, email address, and phone number to create an account.
  • Use “15jdg8” as a referral code when signing up.
  • Start the loan application procedure by logging into the app’s dashboard.
  • Select the required loan sum.
  • Submit the application after entering your basic information.
  • Wait for verification, which may entail a call for verification.
  • Get the application outcome by SMS via the app.
  • Upon approval, electronically sign the loan contract.
  • The authorized loan amount will be disbursed soon, and an SMS message will be sent at the same time.

Payback Options

Okash offers loan repayment flexibility:

  • Pay using the app directly.
  • Pay in person at affiliated banks.
  • In-App Direct Payment
  • You can use the in-app payment mechanism to pay back an Okash loan.
  • Run the Okash app.
  • Click “make a repayment” under the “finance” option.
  • Type the amount you want to pay in full or in part.
  • Put in your pin.
  • Donate to the Okash Bank Account
  • However, you can transfer the loan amount to Blue Ridge Microfinance Bank Ltd. if you are unable to make payments using the in-app direct debit.

It is significant to remember that Blue Ridge Microfinance Bank collaborates with Okash to offer loans. As a result, all payments for okash loans are made to the partner bank account listed above.

Use the provided account details to make bank payments:

Blue Ridge Microfinance Account No. 1130085518 Bank Name: Zenith Bank Plc.
Put your full name and BVN (or registered phone number) in the remarks section.

Before sending your money, make sure you double-check the account name and account number.

Once the transfer has been completed successfully, send the transfer information to repayment.proof.ng@o-kash.com for verification. This will modify the status of your Okash loan.

Late Payment Penalty

Your loan will automatically accrue 2% daily rollover interest if you pay it off late.

It is advised that you stick to the loan payback schedule to avoid paying this extra cost.

Furthermore, missed payments may lower your credit score for future borrowing.

Okash is it real?

Yes, Okash is regarded as a trustworthy online loan application. The site maintains a physical address and is registered with the Central Bank of Nigeria, giving its operations some kind of legitimacy.

Okash has also put security measures in place to protect user accounts and stop illegal access. Before utilizing any financial service, you should use prudence and do your own research.

Despite the fact that Okash is now thought to be authentic, it is always advisable to deal with financial transactions cautiously and make informed judgments.

Questions and Answers (FAQ) regarding the Okash Loan

How can I find out the balance of my Okash loan?
A: Sign in to the Okash app and go to your account dashboard to view the balance of your Okash loans. There will be a balance for your loan shown.

On my iPhone, how can I get the Okash app? A: Go to the App Store and type in “Okash” to get the Okash app for your iPhone. When you’ve located the app, click “Download” to download it to your smartphone.

How do I delete or deactivate my Okash account? A: Deleting an Okash account cannot be done directly at this time. You can, however, get support for issues relating to your account by contacting Okash customer service.

How do I get in touch with Okash customer service? A: You can get in touch with customer service at Okash through the following channels:

Email is supported at o-kash.com.
Number: 018884549
How may my Okash loan be extended? A: Use the Okash app to get in touch with customer service if you want to prolong your loan. They can tell you about methods for extending loan terms and any related information.

Last Words on the Okash Loan

In conclusion, Okash proves to be a dependable option for people looking for quick funding. Okash provides a user-friendly platform with low interest rates, whether it’s for paying bills, assisting a business venture, or taking care of urgent requirements.

Repaying the Okash loan is necessary to prevent fees and further costs. You can deposit the loan amount to the partner’s bank account or use the direct debit option.

The fact that Okash loans are short-term loans that should only be used in cases of extreme financial need should also be noted.

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