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Opay (Okash loan) – Everything you need to know on how to access Opay loan

Last updated on August 15th, 2023 at 03:02 pm

Borrowing money in Nigeria is easy, thanks to the boom of online loan companies in recent years like Opay loan. These companies provide quick, short-term loans for their customers without asking for any collateral. These days, you can easily access student loan in Nigeria, payday loan, and so on.

About Opay

Founded by the internet giant Opera, OPay is a mobile-based platform that offers essential services such as payment, commercial transportation services, food and grocery deliveries, and others.

OPay is short for Opera Pay. It’s a comprehensive online payment platform that allows you to carry out a host of transactions. They include buying airtime, buying data, subscribing to Pay TV, paying electric bills, hailing a rider with OCar and OTrike, food delivery with OFood, transferring money, sending and receiving payment with QR, investment with OWealth, lending services with OKash loan, funding your betting account, listing your products and services with OList and building an online presence with OLeads.

Opay Loan App Review (Okash Loan)

Okash loan is a loan app in Nigeria from the OPay group. With this platform, you can get a loan in Nigeria at any time within minutes.


  1. Fast and secure processing of loan payments
  2. No collateral and deposit requirements.
  3. Easy sign-up process
  4. They offer incentives such as bonuses from time to time.
  5. You can do the whole process online on your mobile phone. You don’t have to pay a physical visit. 


  1. Privacy concerns
  2. Cost of loan repayment is high. There are other cheaper options
  3. Loans are for short-term
  4. It has a maximum amount you can borrow.

How to Borrow Money from Opay

Access loan services: On your Opay app, locate the loan section, and get access to a loan eligible for you.

Read the Terms and Conditions and look out for the interest rate and the repayment date. If you are okay with the following listed above, confirm your loan request, and you will get the money within minutes.  

Maximum or Minimum Amount You Can Borrow

The maximum amount you can apply for at any given time on OKash is N50,000. You can apply for loans as low as N3000. 

Opay Loan (Okash Loan) Requirement

The requirement for applying for an OPay loan is easy. The loan service targets all Nigerians and doesn’t have any stringent conditions the average Nigerian is not able to borrow.

  1. The applicant must be a Nigerian resident
  2. The age bracket of the applicant has to be in the range of 20-55 years.
  3. The applicant needs to have a source of monthly income or state the reason why he or she wants the loan.
  4. Valid ID Card
  5. BVN Number (see how to check BVN)

Opay Loan (Okash Loan) Interest Rate

The daily interest rate is between 0.1% to 1%, while the annual interest rate is between 36.5% and 360%. Apart from this, you will have to pay an origination fee with your loan ranging from N1299 to N6000. The duration of the loan is 91 days for the shortest tenure and 365 days for the longest tenure.

How To Repay Opay Loan (Okash Loan)

  • Open your mobile app
  • Log into your account
  • Click on the button that says ‘make a repayment’
  • Provide all required details
  • Click on the ‘repay’ button

It’s important to note that the platform makes use of a system that automatically debits your bank account once you loan repayment is due. This means that you do not really need to go through the steps listed above as long as you have sufficient balance in your account.

Opay loan USSD code

You can borrow money on Opay with just a USSD code.

Here are the steps to use the Opay USSD code to access loans:

  • Dial *955#, using the number you registered your Opay account with.
  • Choose the “loans” options.
  • Apply for the loan eligible to you.
  • Get your loan in your account.

The code provides you with a seamless experience while making transactions on your account.

Check out: EaseMoni – A quick way to borrow instant loans

How much can I borrow from Opay for the first time?

At the moment, the Opay (Okash) service allows you to borrow a minimum amount of 30,000 Naira, while first-time users have the opportunity to borrow a maximum of 50,000 Naira. For first-time users, this implies that you can apply for an initial loan of up to 50,000 Naira on Opay.

What Customers have to say About Opay Loan

Positive Reviews

Olanrewaju Heritage said “Remains as Fantastic as ever. However, I have discovered something about the new updates. You don’t need to login to access the app even after closing it off for a long time. In the previous versions, you were mandated to log in all over, particularly after a few minutes of leaving the app. I don’t know if people complained about that but that was awesome and super safe. I guess it will be awesome if that is corrected some how. TY, keep being awesome.”

Odion Daniel said “Great banking app with little to no problems, smooth transactions,best user interface, free daily transfers and no unnecessary monthly charges, been using it for up to two years now. kudos to the creators and the Boards. You are simply the best.”

Negative Reviews

Godsgift Iheanacho said “Great app. However I have 2 complains. 1. The app doesn’t log user out when not in use. The app can be accessed even after many hours. That’s not good for security reasons. Users should be logged out after some minutes of inactivity. 2. I don’t like that the notification and amount of transaction pops up at the top of the screen. Is there no setting available to turn this off?”

Aaron Gold said “I only gave this app a 2 star rating because it worked for 2 weeks after I signed up, and helped me escape bank apps and their network issues for the period stated. Unfortunately, this app has been asking me to sign-in for every transaction. Once I sign-in and I start a transaction, it asks me to sign-in again, and again non-stop. It’s not a wrong password and number because both were accepted as successful. For some reason, the app is broken and doesn’t work for me anymore. Deleting it.”

Shalom “Sanity” Yakubu said “Customer care sucks!! I have been writing to them to delete my old opay account because I don’t have the SIM anymore so I can’t log in to it plus I need to delete the account before I can link my email to my new opay account but nobody has done anything to resolve my issue. Fix this and I’ll change the rating to 4 stars as the app is really good overall. Oh and please if the phone number space when buying airtime can be left empty cause I find myself mistakenly recharging the wrong line.”


OKash (a subsidiary of OPay) is a reliable loan service provider that offers quick loans in Nigeria. Applying for a loan on the app is easy. You get it disbursed into your account within minutes.