Okash loan is a loan application in Nigeria, that allows individuals to take a personal loan loan of up to 500,000NGN without the need of paper work, collateral or the physical appearance of the loan applicants.
In our previous guide, I revealed all you need to know about the palmcredit loan app and today, I will be giving you the detailed information about the OKash loan app, ranging from how to apply for a loan, how to repay OKash loan, okash customer care number, how to be eligible for OKash loan and lots more.
About OKash loan
OKash is a Convenient Personal Loan platform for Nigeria mobile users, presented by Blue Ridge Microfinance Bank Limited. OKash fulfills customer’s financial needs completely online. And the application process takes just a few steps with minimal documentation and the approved loan amount is transferred to the applicant’s bank account
As it has been stated in the previous part of this guide, OKash makes it efficient for you to access credit anytime, anywhere.
Okash loan interest rate
When I exploring any loan app for possible submission of a loan application, it is very important for you to properly check the loan interest rate so that, you can have full knowledge of what you’re about to Sign up for and in this section, I will provide you with the detailed breakdown of the OKashloan interest rate and how it’s being calculated.
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Okash loan app offers:
Tenure: As a borrower, you will be required to make your loan repayment from 91 days to 365 days
Loan Amount: You can borrow a loan amount ranging from NGN 3,000 to NGN 500,000.
Interest Rate: With a minimum of 0.1% up to 1%. Note that the 0.1% to 1% is the minimum and you’re advised to always cross check for the real interest rate on your loan when you’re about to submit each loa. Application.
Okash interest rate is calculated on a daily basis. Annual Percentage Rate(APR) from 36.5% to 360%.
Origination Fee: Range from NGN 1,229 – NGN 6,000 for a one-time charge
How okash loan app interest rate is being calculated
On OKash loan app, 91-days loan payment terms have a processing fee of 41% and an interest of 9.1%. For the loan processed with a principal amount of NGN 3,000, the processing fee would be NGN 1,229, the interest would be NGN 273, the total amount due would be NGN 4,502.
The total amount due in the first month would be N1,512, the processing fee would be N419, the interest would be N93, the total amount due in the second month would be N1,495, the processing fee would be N405, the interest would be N90, the total amount due in the third month would be N1,495, the processing fee would be N405, the interest would be N90.
Okash loan requirements
To be eligible for a loan on the OKash loan app, you must get to know some things so as to register your account in a way that will guarantee your loan application approval. Below are the requirements to get a loan from OKash:
1. You must be a Nigerian and reside in Nigeria. The loan app is only available for Nigeria and above all, you will need a Nigeria bank account for your loan application submission.
2. You must be if 22 to 55 years old for you to be able to get a loan from the okash loan app.
3. You must have a considerable monthly income, this contribute greatly to the amount of loan you will be ably to take from the app.
4. You must provide valid information during your registration, this will make it easier for the review team to determine if you’re eligible for a loan at that present moment.
Okash loan registration
To register on the app, simply Navigate to the download section of this guide, download and install the OKash APP and open it
allow all the permission requested by the app and agree to the app terms and conditions. Register an account with your preferred phone number and follow the prompts to complete your loan account registration.
How to apply for a loan on Okash loan app
Simply open the app and select the product you would like to apply for. As a new member of the app, you will be redirected to where to apply for your preferred product immediately you complete your registration.
Fill out your basic information and make sure that all the information provided by you, are valid and correct, then submit the application.
After the submission, you may receive a call for verification. The final application result will be shown in the APP and you will be informed by SMS if approved.
Once your loan application is approved, you will be required to E-sign the loan agreement after the approval. Follow the provided instructions to E-sign the loan agreement and after the E-sign, the approved loan amount will be disbursed into your account shortly and a SMS notification will be sent.
How to repay OKash loan
To repay loan on Okash loan app, all you have to do is to login to your account and navigate to the loan area. You will set the loan due date and the outstanding amount. Click on the repay option and you will taken the the payment page.
On getting to the payment page, select your preferred payment method and follow the provided instructions to comply the loan repayment.
Okash loan APK download
Okash loan APK is the APK version of the app and it’s the same thing as that of the one you will download from the Google play store. Having gone through the detailed information on how the OKash loan works, the next thing is to download the app and get it installed on your mobile phone.
In this section, I will provide you with the direct link to download okash APK with the detailed information on how to get the app installed in your mobile phone.
Name Okash loan APK
Version Latest Version
Service Loan Provider
How to install OKash loan APK
To install the OKash APK, simply download the file provided above and wait for the download process to complete.
Open your phone gallery and navigate to the download folder, open the download folder and locate the file you download above. Click to open it and an install option will appear.
Click on the install button and wait for the installation process to complete. Once the installation process is complete, you can open the app and explore.
Okash loan app download
In this section, I will provide you with the direct link to download OKash loan app from Google play store. This will give you the opt to explore and make use of the download option that is convenient for you.
Name Okash loan app
Version Latest Version
Service Loan Provider
Okash loan customer care number
Did you have any issue or an enquiry to make about the OKash product and services and will like to get in touch with the app customer care? Then worry no more, in this section, I will provide you with all the possible means to contact the OKash loan customer service.
Customer Service Email: [email protected]
Customer Service Hotline: （+234）08097755512，08097755514
Address: Room 301, Japaul House, Plot 8 Dr. Nurudeen Olowopopo Way, Central Business District, Ikeja, Lagos, Nigeria.
Above are all the the possible means with which you can contact the okash customer service for any issue encounter on the app or with any of their product and services.
Okash loan review
Okash loan has been online for a while now and have been able to generate more than one million downloads with 4.2 overall star rating on Google play store, this shows that the app is good at what it offers to some extent.
However, when you take a loan from this app, always make sure you repay before the due date to Avoid issue as it usually charge huge amount for late loan repayment.
Conclusion: Okash loan app gives individuals to get quick cash loan at their own convenient but don’t forget that there is always interest and you will have to pay more than what you borrow from the app. With the detailed information provided in this guide, I am sure that you should have fully understand how the okash loan works and how to use it’s product and services without issue.