Do you know about Okash? Most of the time people do ask, how much can i borrow from Okash for the first? Whatever it is you need to know about Okash i will be talking about it in this article. Stay glued as we take you on a journey to discovering things you never knew about Okash, i am sure it will be worth your time.

Overview Of Okash

Unlike other loan agencies, Okash is an online loaning platform that loans out money to businesses and people who are in need of it. It is owned and managed by blue ridge microfinance bank limited. Okash loans out money to its users with no collateral and with very little paperwork.

How do They Work?

Okash is like every other loan apps. it sends out loans of various degrees to those who use it within few minutes. If you do have an account with Okash and you have cleared the requirement to borrow from it then there is nothing that would stop you from doing so.

How Much Can I Borrow from Okash For The First Time?

You can borrow loans within the range of N3,000 to N1,000,000. OKash makes it very efficient for you or anyone to access credit anytime, anywhere within Nigeria.

Requirements And Criteria For Obtaining Loans From Okash

For you to be eligible to obtain loan from Okash, there are some criteria or requirement that has to be met and we will guide you through some them.

Bank Verification Number (BVN)

Getting your BVN ( Bank Verification Number) is a very important requirement that has to be met before you can be eligible to obtaining a loan from Okash. It is the most important step because without you BVN you can not own an account. Now you might ask what is the need for a BVN well in Nigeria with the BVN financial crimes can be tracked and those involved will face judgement for it. The BVN helps reduce financial crimes to the barest minimum. Another thing it can help you with is to check your banking history and be certain if you have cleared out your loans with other loan platforms or if you are low on credit score.

A Verified Phone Number

The second requirement here is a valid phone number. The purpose of this is for receiving verification codes through SMS.

An Active Bank Account

After your loan application has been approved, your loan will be sent to you in a few minutes. The loan will be sent to your bank account.

National Identification Number (NIN)

Your NIN will also be needed before you can be eligible to get a loan from Okash. With your NIN, your exact name, age and other official details will be confirmed.

Source Of Income

Your source of income should be legal, steady and reliable this way, Okash would be convinced that you are indeed capable of repaying your loans when it is time to do so.

Age

If you are underaged, the Okash loan app is not for you. Only those who are between the age of 21 and 55 years are eligible to apply for loans on the Okash loan app.

An Email Address

An active email address will also be very much needed. This way, Okash keeps you informed and  on any information that is important.

The Okash Loan App

The Okash loan app is an application where Okash online lending services are rendered to its users. Without the Okash app you can not have access to Okash. The Okash loan app can only be downloaded through your Google Play Store for Android phones for not more than 15 MB as it is not currently available on Apple Store. To prove the effectiveness of the Okash app, it has been rated 4.3 over 5. 0 by thousands of users. After downloading the app, the next step is to create an account with Okash.

How To Create An Account On Okash Loan App

After installing the Okash loan app, the next step is to register an account with Okash, which takes less than 15 minutes.

Launch The App

To set up an Okash account, you must first start the app. To do so, simply touch on the app and sign up.

Get Signed Up

After launching the app, sign up with your mobile phone number or email address. If you already have an Opay account, you may sign up using those information.

Get Verified

After signing up, you must validate your account. However, prior to verification, you must accept the terms and conditions provided. Only once you accept the terms and conditions will your verification code be issued to you by SMS or email.

Set Up Security Systems

How would you react if you logged into your Okash lending app account and realized that someone borrowed money from it without your permission? That will undoubtedly be uncomfortable if you accumulate more loans. To avoid such situations, choose a strong password that only you know. This four-digit PIN code will be used as your security code and may be changed at any time.

Grant Default Access

The setup of your Okash account is completed until you allow Okash permission to access your contacts and location.

How Can I Apply For Loan On Okash Loan App?

Once your account creation is successful, the next is to request a loan.

Follow the instructions given below to be able to secure your loan.

• After creating your account, you will be sent to the loan dashboard. All you need to do is choose the amount you wish to borrow.You can get a minimum of N3,000 and a maximum of N500,000.
• Fill up the blanks with the required information and submit your application for approval.
• After completing your application, please wait for a call from Okash. The call is frequently made to confirm information.
• After the call has ended, check your app to see how your application performed. If your application is approved, you will be notified on your screen and via SMS.
• Confirm the loan by agreeing with Okash on your end.
• Your money is disbursed promptly upon your confirmation of the loan agreement.

Conclusion

The Okash loan app is a reputable online platform that provides rapid loans to individuals that match the conditions. No collateral and little documentation are required. Go to the Google Play Store and download the app. Then, complete the procedures given before to establish your account.

Frequently Asked Question

 

Can I Get A Loan From Okash Loan Without Collateral?

Yes, you can get a loan without collateral from the Okash loan app provided you meet the stipulated requirements. To crown it all, the loan disbursement is fast within a few minutes of loan approval.

Okash Loan Repayment Plan

There are no specific repayment plans on the Okash loan app. You only choose the repayment plan that is convenient for you. You can choose to pay monthly, every 3 months, quarterly (every four months), or at the end of 12 months whichever one, it is all about your choice.

What Is Okash Interest Rate?

Okash charges as low as 9.1%  interest rate every three months. That is approximately 3.0% every month. Low-interest rate right? Cool, that is one of the uniqueness of Okash to other loan apps.

How Can I Repay My Okash Loan?

To pay back the loan you borrowed from Okash do the following;

• Launch your Okash app and log in,
• Move to the repayment dashboard,
• Input your bank details and select the amount you want to pay using either your debit card or your credit card.

How Would Okash Recover Its Money When I Do Not Repay My Loan?

It is very bad to collect a loan and won’t be capable of repaying it when due. Apart from it reduces the chances of you getting future loans, it can also lead to embarrassment. Remember, you gave Okash permission to access your contacts. This gives them the avenue to put calls across to your contacts. This is not just about the Okash loan app but most loan apps. Some would even go as far as threatening your contacts for your repayment. You would not want that right?

How Much Can I Borrow From an Okash Loan App As A First Timer?

You can borrow between N3,000 and N10,000 as a first-timer. However, your ability to repay your first few loans when due without being disturbed increases your maximum amount limitation.

Which Company Owns Okash?

Okash is owned by the Blue Ridge Microfinance Bank limited.  An authorized company by the Central Bank Of Nigeria (CBN)

Is Okash The Same As Opay?

No, they are not the same.  Okash is an arm of the Opay group.

Is Okash Loan Real Or Fake?

The Okash loan app is real and reliable. It provides quick loans to its users. It is rated 4.3 over 5.0 on Google Play Store.  And this is an indication that the app has been performing well to attract such ratings.