How To Take Loan From Okash


In today’s fast-paced world, unexpected financial emergencies can catch anyone off guard.

When such situations arise, having access to a reliable source of quick loans can be a lifesaver.

Okash, a popular lending platform, offers a hassle-free way to obtain much-needed financial support.

In this comprehensive post, I will walk you through the steps to take a loan from Okash, including eligibility criteria, interest rates, loan terms, and repayment options.

Getting Started with Okash

1. Download the Okash App

The first step to embark on your borrowing journey with Okash is to download the Okash app from the Google Play Store.

It’s a user-friendly application that ensures a smooth and convenient experience.

2. Registration Process

Once you’ve downloaded the app, register for an account using your phone number, BVN (Bank Verification Number), and other basic information.

This step is crucial for identity verification and ensures a secure lending environment.

Applying for an Okash Loan

3. Select Your Desired Loan Product

Okash offers a range of loan products to cater to various financial needs.

Choose the loan product that suits your requirements and proceed with the application.

4. Complete the Application Form

Fill out the application form within the app, providing the necessary information and documentation. Ensure that the information you provide is accurate, as it will be used for the evaluation process.

5. Submit Your Application

Once you’ve filled in all the required details, submit your application.

Your request will be reviewed promptly.

Verification and Disbursement

6. Verification Process

As part of the verification process, you may receive a call from Okash to confirm the information you provided in your application.

This step is crucial to maintain the security of the lending process.

7. Electronically Sign the Agreement

If your loan application is approved, you will be required to electronically sign the loan agreement.

Ensure you read and understand the terms and conditions outlined in the agreement before proceeding.

8. Quick Disbursement

Once you have electronically signed the agreement, the approved loan amount will be swiftly disbursed into your bank account, often within minutes.

This ensures that you have quick access to the funds you need.

Eligibility Criteria

Before applying for an Okash loan, it’s essential to understand the eligibility criteria:

  • You must be a Nigerian citizen between the ages of 20 and 55.
  • A valid BVN is a prerequisite for borrowing from Okash.
  • You must have a regular source of income to demonstrate your ability to repay the loan.
  • You must possess a valid bank account for the disbursement of the loan.

Interest Rates and Loan Terms

Okash loans come with competitive interest rates and flexible loan terms:

  • Daily interest rate: 0.1%
  • Loan term: 7 to 30 days
  • Maximum loan amount: N50,000

Repaying Your Okash Loan

Repaying your Okash loan is a straightforward process with multiple options:

9. Repay Through the Okash App

You can easily repay your loan through the Okash app.

Select the “Repay Loan” option within the app and enter the amount you wish to repay.

This convenient method allows you to manage your loan from the palm of your hand.

10. Bank Transfer

Alternatively, you can choose to repay your loan via bank transfer.

Transfer the desired repayment amount to the following bank account:

  • Account Name: Blue Ridge Microfinance Bank Ltd.
  • Account Number: 1130085518
  • Bank Name: Zenith Bank Plc.
  • Remark: Include your BVN or registered phone number and your full legal name in the remarks section.

A Word of Caution

While Okash is a legitimate loan app that provides valuable financial support, it’s crucial to be aware of the risks associated with borrowing.

Always read and understand the loan agreement before signing it, and only borrow what you can comfortably repay.

Financial responsibility is key to maintaining a healthy financial life.


How much can OKash borrow me for the first time?

When you’re new to borrowing from Okash, you may wonder why your initial loan amount is capped at NGN 3,000.

The reason is quite simple: Okash uses your credit history to determine the loan amount they can offer. Since you’re a first-time borrower, there’s no credit history for Okash to assess.

As a result, they start you off with a modest loan amount to evaluate your repayment behavior.

Gradual Increase in Loan Amount

The good news is that Okash believes in rewarding responsible borrowers.

If you repay your first loan on time and in full, you’ll be on your way to unlocking higher loan amounts.

As you consistently demonstrate your commitment to timely repayments, Okash will gradually increase the loan amount available to you.

This is a fantastic incentive for building a positive credit history with the platform.

Tips to Boost Your Okash Loan Amount

To maximize your borrowing potential with Okash, consider these helpful tips:

  1. Punctual Repayments: Always make sure to repay your loans on time and in full. This is a fundamental aspect of building trust and credibility with Okash.
  2. Maintain a High Credit Score: A strong credit score reflects your creditworthiness. Be diligent in managing your financial obligations to keep your credit score in good standing.
  3. Apply When Financially Stable: Timing can be crucial. Apply for a loan when you have a stable financial standing, as this can influence the loan amount offered to you.

Please bear in mind that while your credit history plays a significant role, Okash may also consider other factors when determining your loan amount.

These factors could include your income, employment status, and debt-to-income ratio.

By combining responsible borrowing practices with sound financial management, you can steadily increase your Okash loan limit and enjoy greater financial flexibility.

How do you qualify for OKash?

If you’re considering an OKash loan to meet your financial needs, it’s essential to understand the eligibility criteria and the factors that influence your loan amount.

Here’s a comprehensive overview to help you navigate the process effectively.

Eligibility Criteria

To qualify for an OKash loan, you must meet the following criteria:

  1. Nigerian Citizenship: You should be a Nigerian citizen between the ages of 20 and 55. This ensures that the lending service is accessible to those residing in Nigeria.
  2. Valid BVN: A valid BVN (Bank Verification Number) is a mandatory requirement for securing an OKash loan. It serves as a vital component of identity verification.
  3. Regular Source of Income: Having a consistent income source demonstrates your ability to repay the loan. It’s a key factor in determining your eligibility.
  4. Valid Bank Account: You need to possess a valid bank account where the loan amount can be disbursed and repayments can be facilitated.

Credit History Matters

OKash places importance on your credit history when evaluating your loan eligibility and the maximum loan amount you can borrow.

A positive credit history increases your chances of approval and access to higher loan amounts.

Tips for Enhancing Approval Chances

To boost your likelihood of being approved for an OKash loan, consider the following tips:

  1. Maintain a Healthy Credit Score: Regularly check your credit score on the Credit Bureau of Nigeria website to ensure it remains in good standing. A higher credit score is favorable when applying for loans.
  2. Apply from a Position of Financial Strength: Apply for a loan when your financial situation is stable. This means having a regular income and a low debt-to-income ratio, which demonstrates your financial responsibility.
  3. Provide Accurate Information: Be thorough and accurate when filling out your loan application. Precision in your application ensures a smoother and more trustworthy lending process.
  4. Responsible Borrowing and Repayment: Once you secure an OKash loan, use it responsibly and make sure to repay it on time and in full. Consistent, timely repayments contribute to a positive credit history.

Check Your Eligibility with the OKash App

If you’re uncertain about your eligibility for an OKash loan, you can take a proactive step.

Download the OKash app, which not only offers a convenient way to apply for loans but also provides insight into your eligibility.

The app will indicate the maximum loan amount you are eligible to borrow, offering clarity and transparency in the borrowing process.

By adhering to these guidelines and exercising financial responsibility, you can increase your chances of qualifying for an OKash loan and access the financial support you need.

OKash is here to empower your financial journey, making your aspirations a tangible reality.

Which bank owns OKash?

When you’re in need of quick and accessible financial solutions in Nigeria, OKash steps in as a trusted mobile loan app.

This lending platform offers the convenience and efficiency you seek.

Here’s an insight into the world of OKash and its parent company, Blue Ridge Microfinance Bank Limited.

Blue Ridge Microfinance Bank Limited

OKash is a proud creation of Blue Ridge Microfinance Bank Limited, a licensed microfinance bank that has been serving the Nigerian community since its establishment in 2006.

The bank is headquartered in Lagos, Nigeria, a bustling financial hub.

Blue Ridge Microfinance Bank specializes in a diverse range of financial services tailored for both individuals and businesses.

These services include loans, savings accounts, and money transfers, providing comprehensive financial support to its customers.

OKash: Fast and Convenient Loans

OKash, the mobile loan app under the umbrella of Blue Ridge Microfinance Bank, is designed to meet the urgent financial needs of Nigerians.

Here’s what you need to know about OKash:

  • Quick and Easy Borrowing: OKash simplifies the borrowing process. Users can apply for a loan through the OKash app, making it incredibly easy and convenient.
  • Rapid Disbursement: The app lives up to its promise of swift loans. Once approved, the loan amount is disbursed directly into the user’s bank account within minutes, ensuring that funds are available when they’re needed most.
  • Unsecured Loans: OKash offers unsecured loans, which means that borrowers do not need to provide any collateral. This approach reduces the barriers to accessing financial support.
  • Popular Choice: With over 10 million users, OKash has garnered a significant user base in Nigeria. Its popularity is attributed to its user-friendly interface and accessibility.

A Note of Caution

While OKash offers a lifeline for many individuals in need of financial assistance, it’s essential to be aware of its interest rates.

OKash loans come with high interest rates, reflecting the convenience and speed of access.

Therefore, it’s crucial to exercise caution and borrow responsibly.

Only take loans that you can comfortably afford to repay, ensuring a healthy financial future.

here’s the information presented in a table format:

OKashA popular mobile loan app in Nigeria with over 10 million users. Offers quick and accessible unsecured loans without collateral. Known for its convenience and accessibility. Note that OKash loans have high interest rates, so responsible borrowing is essential.
Parent CompanyBlue Ridge Microfinance Bank Limited
Blue Ridge Microfinance Bank LimitedA licensed microfinance bank headquartered in Lagos, Nigeria. Established in 2006. Offers a range of financial services, including loans, savings accounts, and money transfers.


Okash offers a reliable and efficient solution for individuals seeking quick loans in Nigeria.

By following the steps outlined in this guide and abiding by responsible borrowing practices, you can effectively address your immediate financial needs through the Okash platform.

Make informed decisions and secure your financial well-being with Okash.


Leave a Reply