In our today’s Okash Loan App review, we would be looking at everything you need to know about Okash and its loan services. We would be looking at Okash loan app download, Okash loan interest rate, Okash loan terms and conditions, and also attempt to answer the question “Is Okash loan real” and so much more.
The reason why you might need to apply for a quick loan isn’t what you may have prepared for. Sometimes, these emergencies catch up with us at vulnerable times, and failing to attend to these unpredictable circumstances quickly might prove fatal. You might perhaps need some cash for personal use or a varied number of reasons. One of the best loan apps is the Okash Loan App. Let’s look at the Okash loan app review to check its credibility.
Okash loan app is a highly recommended option that you can utilize to meet any urgent demand without having to worry about paperwork.
The app has been named one of the finest loan applications in Nigeria for quick loans into your bank account without the need for paperwork or collateral.
Below is everything you need to know to get started on Okash in Nigeria.
What is Okash Loan App?
Okash loan app is a mobile app that allows you to acquire personal or business loans within 24 hours after submitting a successful loan application. It is designed to allow you to mend, acquire, or do whatever you need the money for in the least amount of time.
Okash is a reputable mobile loan app that Blue Ridge Microfinance Bank Ltd manages under the umbrella of OPay which is a popular mobile money and fintech company in Nigeria. The loan platform is created for Nigerians who want rapid cash to cover their immediate financial demands.
Users can download the Okash app from Google Play, set up their loan account in a matter of minutes, choose their desired bank account, attach their active bank card for repayment, complete a series of questions, and receive a verdict on their loan application in a matter of minutes with paperless processing.
One of this app’s finest features is that loans are issued without the lengthy paperwork application process required for traditional bank loans. You can obtain loans quickly by submitting personal information such as your name, residence, employment status, email, passport photos, etc.
This guarantees that the loan application is processed as quickly as possible. Your application will be processed following your loan application, and your credit history will be checked to see if you have any outstanding debts with other financial institutions.
If you have existing debt, your loan application will almost certainly be denied; however, if the contrary is true, getting a loan won’t be an issue for you.
Official website: https://ng.o-kash.com/web/homeEn.html
Okash Loan Interest Rate
Okash offers loans with interest rates ranging from 5% to 30%, depending on the loan amount and loan tenure selected. Compared to the 60% interest rate of other loan applications, Okash interest rate is a little bit more favorable.
Starting, there is a fixed interest rate of 1.2% every day for a defined duration of 15 days.
Okash Loan Requirements For Approval
Since the entire loan application procedure can be completed in just a few minutes using the Okash loan app, getting loans through this method is quite simple.
However, before applying for any loan, you must satisfy the platform’s conditions. Failure to meet these conditions will almost certainly result in you not getting your desired loan.
The requirements are pretty simple; all you need is:
- An Android device
- A data connection
- A form of identification such as a valid ID card for KYC
- A legitimate bank account and card
- And you should be between the ages of 20 and 55.
Okash Customer Care Number
If you require any assistance or have a complaint. You can contact Okash customer care via the various mediums listed below:
- Phone: 08097755512
- WhatsApp: +2349019099999
- Email: support@o-kash.com; Include your registered phone number in the subject line.
Okash Loan App Download
The Okash loan app download is available for Android phones. The Okash lending app, like many other loan applications on the market today, is not supported by iOS. However, you may download the Okash loan app for Android users from the Google Play store using any Android smartphone. You merely need to search for the app and proceed to download it for free.
You may visit the official website if you merely want to get a loan without having an Android phone. The website is simple to use, and you may get loans as quickly as people who use the Android app.
Okash Loan Terms And Conditions
Here I’m going to summarize some of the Okash loan terms and conditions that you need to be aware of before applying for their loan.
- When you take a loan with Okash, you expressly mandate them to debit any of the debit/credit cards that you link to the app when the time comes to repay your loan.
- When the time for repayment comes and you fail to repay on time, you’ll be treated as an Okash loan defaulter and would not be able to borrow money again and your BVN stands to be reported to the credit bureau.
- If you know you cannot repay your loan on the due date, you need to apply for rollover to be safe from being a defaulter.
- At their sole discretion, Okash has the right to terminate your access to their platform if they find any foul play on your account.
How do I Qualify for a Loan from Okash?
To qualify for Okash loans, you must meet all the Okash loan requirements. Ensure you answer all the questions on the app rightly and honestly. Your credit history will be checked, so ensure you have no outstanding debts with other financial institutions.
What happens if I don’t pay Okash loans?
This is one of the primary reasons borrowers must have a repayment plan before obtaining loans. Because the Okash loan app has access to your contacts, embarrassing messages about your inability to repay borrowed loans could be distributed to most of your contacts. The corporation may end up suing such borrowers for even more damages, among other reasons.
Is Okash loan real or fake?
If you are concerned, Okash is not fake; they are 100% legitimate; your personal information is safe and will not be released to third parties without your consent; nonetheless, if you have any problems with them, don’t hesitate to get in touch with Okash customer care.
How much can I borrow from Okash?
For starters, you may get loans up to N10,000 on the loan platform if you’re a first-time borrower, but if you’ve had a solid credit history with them for more than three months, you can access loans up to N100,000.
Okash Loan USSD Code
Currently, Okash loan does not have a USSD code. However, Opay does have a USSD code which can be used for different transactions. The only way to access the Okash loan is by downloading the app from Google Playstore and login to your account to perform transactions.
Summary
Okash is clearly a viable alternative to traditional lending. The best part about this form of loan is how quickly it is disbursed to applicants. However, I think the interest rate is completely on the high side and should be a little lower for a small loan. Also, Okash can try and make their loan interest rate annually instead of the regular monthly rates to reduce the rates of interest for aspirants.
