How To Apply For Opay Loan, Borrow And Repay

Can i get a loan from Opay? Getting a loan from the banks can be cumbersome and come with rigid processes but the same isn’t applicable to an Opay loan because you can easily access it.

So the following below are steps to follow and you would get all the information that can help you achieve how to apply for Opay Loan as a beginner.

The Opay Loan Requirement

Before applying for this Opay loan, you need to be sure you are eligible for it. The following are the eligibility requirement.

  • You must be a Nigerian resident.
  • You should be between the ages of 20 and 55.
  • You should have a source of income at least monthly income or have a good reason for needing the loan.
  • Have both valid ID card and a BVN number.
  • You must also have a functioning bank account.
  • Active mobile phone number and Email address.
  • Internet-enabled device (PC or Smartphone).

How much can OPay borrow me?

This is a good question to ask before borrowing money from Opay. The maximum or minimum amount you can borrow from Opay is just a token but might get bigger with time.

Hence, the maximum amount you can apply for at any given time on OKash app is N50,000. You can also apply for Opay loan as low as N3,000.

How To Apply For Opay Loan And Borrow Money from Opay

Before applying for Opay loan, you would need to have an Okash account that you would want to request for a loan from Opay. So you start by:

  • Downloading the Opay Okash app on your phone, go for the app with a green logo but for iphone users go for the app with white and green logo.
  • Then you sign up to Okash via the app using your mobile number, when done you can now apply for the Opay loan using the Okash app.
  • On your Okash app you can now apply for the loan by choosing the loan you want: there are airtime loan, cash loan and merchant loan.
  • Now click on any of the loan and a new page will open, select the amount you need which could be up to #300,000. Then scroll down to see more information about the loan like the due date, repayment, interest rate etc.
  • Next, is for you to choose the purpose of the loan, so scroll down to make your choice. There are 6 purposes to choose from which include; rent, medical cost, business, daily consumption, education etc. Choose the one that benefits you.
  • Then allow access to your phone location and click “Agree to continue”.
  • Next page is to fill in your personal information which is your email address, BVN number, name, gender, nearest bus stop etc.
  • Then click submit and you are done with the Opay loan application process, you would need wait for the money to reflect in your account.

Opay Loan USSD Code

Aside from using the Okash app to borrow money from Opay, Opay also has a USSD code that can be used to access its loan features. To get started, dial the Opay USSD code *955#.

Note that this works when you already have an account created on the Opay platform.

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

How To Apply Opay Loan

How to make the repayment to Opay after borrowing

Making a repayment of your Opay loan, just take a few minutes and you are done.

Here’s how to repay your Opay loan easily.

  • So using the Okash app on your phone, open to access it again.
  • Log into your account and click on the repayment button.
  • You would ask to provide some details, so provide all the data that will be requested.
  • Done and click on the repay button to make payment.

N.B: It’s worth noting that the site employs a method that debits your bank account automatically when your loan payback is due.

This means that as long as your bank account balance is sufficient, you don’t need to go through the processes outlined above.

Opay Loan Interest Rate

The daily interest rate once you’re into the Opay loan agreement is between 0.1% to 1%, while the annual interest rate is between 36.5% and 360%.

Note that apart from this, you will have to pay an origination fee with your loan ranging from N1299 to N6000.

And the time period (duration) of the loan is 91 days for the shortest tenure and 365 days for the longest tenure.

Where can I download the Opay loan app

You can get the Opay loan app download from Google Play Store (for Android users) or from Apple/App Store (iOS users).


With an Opay loan, one will be having a seamless experience as one does not need any collateral to obtain the loan.

The platform is also reliable and customer friendly and it is all about offering a quick loan to its users.

So if you are interesting, all you need do is to follow the above steps to apply for one.

Related Post:

How To Start Opay Agent Registration

How To Use Opay Cardless Withdrawal

How To Check Opay Account Number

How To Contact Opay Customer Care

2 thoughts on “How To Apply For Opay Loan, Borrow And Repay

  • Ayomide Adekunle Adeyemi

    I have been using opay for 2years but never get the chance to request for okash loan why


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