OKash is a product of OPay. It is one of the subsidiary services that Opera Pay offers customers as part of its O universe. They have other services like OFood, OBus, ORide and so on. They have green as brand color and we see ORide on our streets daily.
OPay was developed by Opera Software to enable users to shop and pay for products and services and through their mobile or web browser. Okash is a micro-lending platform that gives you access to quick collateral free loans.
OKash is available as a standalone app in some countries and in others is built into the OPay app.
How did OKash Start?
OKash first started in Kenya in 2018 and expanded to Nigeria in 2019.
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Types of Loans (Products)
- Payday loans – Okash payday loan is designed to provide monthly overdraft to staff of companies, ministries and other establishments.
- Education – This is for any salary earner, self-employed, students, government sector employees including Public Sector.
- Business – This loan is to help business to cover cash flow payments when due.
OKash Loan Application. How to Apply for a OKash Loan ？
- Install the OKash APP from the Play Store. (OKash is no longer built into the OPay app in Nigeria). it is now offered as a standalone app on Google Play Store.
- Register an account. Sign up with your mobile phone number. If you already have an OPay account, just login with your OPay login details. No need to signup.
- Accept Terms and Conditions: Read the terms and conditions of the service and if you agree to it, click Continue button to accept the terms and conditions.
- After accepting the terms and conditions a six digit verification code will be sent to your phone via SMS. You confirm acceptance by entering the 6 digit number correctly.
- Create a four digit PIN code. Give Permissions to the Quick Loan App: Next, OKash will ask you to ALLOW your phone to give it location permission. Click on “Allow”.
- Select the product (loans) you would like to apply for (Types of products is shown above)
- Fill out your basic information to apply for the Loan: For first time OKash service users, there is a limited amount of loan you apply for. Loan amount can be 3,000. Tenor of loan ranges from 61 days to 365 days.
- Choose the loan amount
- choose the number of days within which you will pay back the loan. This is called repay term. The cost of your interest will depend on the repay term.
- 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.
- E-sign the loan agreement after the approval.
- Once the loan is approved, the money will be paid to your OPay Wallet and a SMS notification will be sent. Now you can withdraw the money to your bank account.
How to Pay OKash Loan
Once, the due date for repayment is near, a reminder message from OKash will be sent to you so as to do the needful.
To get a loan, simply download OKash App on Google Playstore. OKash is fully operational and available for Android devices. You can repay within the repayment day you set.
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