Last Updated on June 4, 2023
Getting a loan in Nigeria has become easy thanks to the rise of online loan companies. One of which is the Okash loan.
Okash offers convenient and quick loans for those seeking to borrow money without the hassle of providing collateral.
Whether it is a student loan, a payday loan, or any other type of loan, with an Okash Loan you can easily find options that suit your needs.
In this article, you’ll get a detailed step-by-step walkthrough of the process of obtaining a loan from Okash.
What is Okash
Okash is a safe and reliable loan platform provided by Blue Ridge Microfinance Bank Limited.
This mobile finance app is designed for users in Nigeria who need quick and convenient access to credit.
With Okash, you can apply for loans up to N500,000 naira.
Is Okash Registered with CBN?
Okashis a loan app owned by Blue Ridge Microfinance Bank Limited, which is a CBN Approved company. Blue Ridge MFB empowers micro-entrepreneurs and low-income earners by providing Short term loans using their OKASH app.
How do I Get a Loan from Okash
To get a loan from Okash, follow these steps:
- Download and Install the Okash App by visiting the Google Play Store on your Android device or the App Store on your iOS device.
- Then Search for “Okash” and download and Install the app on your smartphone.
- Register an Account by opening the Okash app and sign up for a new account by providing the required information, including your mobile number and email address.
- Next, Log in to the Okash App and complete your profile by providing accurate personal and financial details, including your full name, date of birth, occupation, monthly income, and bank account information.
- Then, Apply for an Okash Loan by navigating to the loan section within the app.
- Select the loan amount you want to borrow, you can borrow up to a maximum of N500,000 Naira.
- After submitting your loan application and supporting documents, Okash will review your application. The approval process typically takes a few minutes.
- If your loan application is approved, Okash will disburse the approved loan amount directly into your registered bank account. The disbursal time may vary, but it is usually within a few minutes to a few hours.
Also See: Top Legit Loans in Nigeria Right Now
How to Repay Okash Loan
Okash offers multiple repayment options to ensure convenience. You can repay your Okash loan through the Okash app using your debit card or by direct bank transfer.
It is a good habit to set reminders to avoid missing payment deadlines and incurring late payment fees.
Okash Loan Interest Rate
Okash loan interest rate is calculated on a daily basis. Okash’s Annual Percentage Rate (APR) ranges from 36.5% to 360%. So a 90-day loan would incur an interest rate of 9%.
To improve your creditworthiness and increase your chances of loan approval for future applications, it is important to maintain good borrowing habits. Ensure timely repayment of your loans, avoid taking on excessive debt, and keep your financial profile updated.
How to Contact Okash Customer Support
If you encounter any issues or have questions throughout the loan application process, don’t hesitate to reach out to Okash’s customer support.
They can provide guidance, clarify any concerns, and assist with troubleshooting.
Okash offers loans with flexible repayment periods ranging from 14 to 365 days.
How to Build a Positive Credit History
Okash considers your credit history when evaluating loan applications.
Building a positive credit history is crucial for future loan approvals and can be done by making timely payments on your existing loans and avoiding defaulting on any payments.
Responsible borrowing behaviour will help establish your credibility as a borrower.
Also See: How to Borrow Money from Palmpay
Utilize the Okash App Features
Explore the additional features offered by the Okash app. For example, you can access your loan transaction history, view loan details, and update your profile information.
Familiarize yourself with the various functionalities available to make the most of your Okash experience.
Consider Refinancing Options
If you find it challenging to meet your loan repayment obligations, consider exploring the refinancing options provided by Okash.
Refinancing allows you to extend the loan term or adjust repayment amounts, making it more manageable for you. Contact Okash customer support to discuss possible refinancing options.
Explore Okash’s Rewards Program
Okash offers a rewards program where you can earn points for timely loan repayments, referring friends, and other activities.
These points can be redeemed for various rewards, such as discounts on loan fees or increased loan limits. Take advantage of this program to maximize the benefits of borrowing from Okash.
Stay Informed about Okash’s Updates
Okash may introduce new features, services, or changes to its loan offerings. Stay updated by visiting Okash’s official website, following their social media accounts, or subscribing to their newsletters.
This will ensure you are aware of any updates that may impact your borrowing experience.
Final Say on Okash Loan
Obtaining a loan from Okash can provide the financial support you need in a convenient and timely manner.
With the specific steps outlined in this article, you can easily navigate through the loan application process, ensuring accurate information submission and timely repayments.
Remember, responsible borrowing is key. Only take on loans that you can comfortably afford to repay, and maintain good financial habits to ensure a healthy financial future.
Okash is there to support your financial needs, you can make the most of their services and achieve your financial goals.