Are you out of cash? Do you need money for things like rent or school fees? Well, the Okash Loan app can help. It\’s an easy way to get a loan in Nigeria, and you don\’t need to give anything valuable as security. Whether you have sudden expenses or want to start a small business, Okash is here to assist you. Let\’s learn more about this helpful lending company and how it can make your financial life easier.
What Exactly is Okash?
Okash is all about making loans easy and stress-free. It\’s like having a friendly helping hand when you need cash for personal expenses or to boost your business. Okash keeps things simple and straightforward.
Interest Rates and Loan Durations
Okash offers loans with interest rates ranging from 0.1% to 1%, and these rates are calculated daily. To put it simply, if you borrow ₦3,000 for 91 days with an interest rate of 1%, you\’ll pay an extra ₦273, making the total amount due ₦3,237.
Okash knows that different folks have different financial needs. That\’s why they offer loan durations from 91 to 365 days, and you can borrow from ₦3,000 up to ₦500,000. This way, you can choose what suits you best.
Just remember, if you don\’t pay back your loan on time, you might end up with extra charges and fees.
What You Need to Get an Okash Loan
To make sure everything goes smoothly when you apply for a loan, here\’s what you\’ll need:
- A valid email address.
- An Android phone.
- You should be between 20 and 55 years old.
- You must be a resident of Nigeria.
- Have a valid ID card.
- Your bank details, including your account number, account name, ATM card, and BVN.
- You need a steady monthly income, and you\’ll need to explain why you want the loan.
How to Get the Okash App
The Okash app is pretty popular, with over 5 million downloads. People have shared their thoughts on the app, and while there are some positive reviews, there are also some negative ones. It\’s always a good idea to check what others think before you decide to use it.
You can easily download the Okash loan app from the Play Store or the Apple Store, depending on your device. Just search for \”Okash loan app\” and hit that install button.
Applying for an Okash Loan: Step by Step
Getting an Okash loan is a breeze. Just follow these simple steps:
- Download and Install Okash App: Start by downloading and installing the Okash app from the Play Store on your mobile device.
- Register an Account: Once the app is installed, register an account by providing your Name, BVN (Bank Verification Number), Email, and Phone number.
- Access App Dashboard: After successful registration, access the app dashboard, where you’ll find various options, including the loan application.
- Apply for Loan: Begin the loan application process from the app dashboard.
- Choose Loan Amount: Select the desired loan amount based on your needs.
- Fill in Your Information: Fill in your basic information as required in the application form.
- Submit Application: Once all information is provided, submit your loan application through the app.
Now you\’re all set to apply for an Okash Loan and get the funds you need.
How to Repay Your Okash Loan
Okash is flexible when it comes to repaying your loan:
- You can repay directly through the app.
- You can also repay physically at partner banks.
Direct In-App Payment:
- Open Okash app.
- Go to the finance tab and click on “make a repayment.”
- Type the amount you want to repay.
- Enter your pin.
Pay to Okash Bank Account:
If you can\’t repay through the app, you can transfer the loan amount to Blue Ridge Microfinance Bank Ltd. Since Okash loans are provided in partnership with Blue Ridge Microfinance bank, all repayments are made to their account.
Use these account details for bank payments:
- Bank Name: Zenith Bank Plc
- Account Name: Blue Ridge Microfinance
- Account No: 1130085518.
In the remarks section, make sure to add your BVN or registered phone number and your full name. It\’s important to double-check all the account details before making the payment.
If you successfully transfer the repayment, send the transfer details to repayment.proof.ng@o-kash.com to verify the information and update your Okash loan status.
Late Repayment Fee
Be mindful of repayment deadlines. If you\’re late, you\’ll be charged a rollover interest of 2% per day. Avoid this extra fee by paying on time. Late payments can also hurt your credit score for future borrowing.
Is Okash a Trustworthy Service?
Yes, Okash is considered to be a legitimate online loan app. It\’s registered with the Central Bank of Nigeria and has a physical address, which adds credibility to its operations. Okash also takes your account security seriously to prevent unauthorized access.
However, always do your research and stay cautious when dealing with loans. While Okash is currently viewed as trustworthy, remember that circumstances can change. So, use financial services wisely and make informed decisions.
Frequently Asked Questions (FAQ) about Okash Loan
Q: How can I check my Okash loan balance? A: You can easily check your Okash loan balance by logging in to the Okash app and heading to your account dashboard. Your loan balance will be displayed there.
Q: How do I download the Okash app on my iPhone? A: To download the Okash app on your iPhone, simply visit the App Store and search for \”Okash.\” Once you find it, tap “Download” to install it on your device.
Q: How can I deactivate or delete my Okash account? A: Currently, there is no direct way to delete an Okash account. However, you can contact Okash customer care for assistance with account-related issues.
Q: How can I contact Okash customer care? A: You can reach out to Okash customer care through:
- Email: support@o-kash.com
- Hotline: 018884549
Q: How can I extend my Okash loan? A: If you want to extend your Okash loan, contact Okash customer care through the app. They can provide information on extending loan terms and procedures.
Final Thoughts on Okash Loan
Okash is a reliable option for those in need of quick financing. Whether you\’re handling bills, kickstarting a business, or facing urgent needs, Okash offers a user-friendly platform with low-interest rates.
Remember to repay your Okash loan on time to avoid extra charges and fees. You can choose to pay directly through the app or through partner banks.
And keep in mind that Okash loans are best suited for emergencies or immediate financial needs. Always do your homework and make sure you understand the terms before you decide to take out a loan.