OkadaNaira Loan App Review 2025 – Interest Rates, APK Download & Customer Care Number
The OkadaNaira Loan App is one of Nigeria’s fast-rising digital lending platforms that promises quick loans anytime, anywhere. With loan amounts ranging from ₦5,000 to ₦500,000 and repayment tenures between 91 and 180 days, it is designed to provide instant financial relief without the stress of traditional bank paperwork.
But how reliable is OkadaNaira? Let’s break down its loan details, interest rates, user reviews, and customer support contacts.
Loan Features and Interest Rates
- Loan Amounts: ₦5,000 – ₦500,000
- Tenure: 91 – 180 days
- APR (Annual Percentage Rate): 10% – 33%
- Collateral: Not required
- Disbursement: Directly into your bank account
Example Loan Calculation:
Borrow ₦20,000 for 120 days at 20% APR:
Interest = ₦20,000 × (120 ÷ 365) × 20% = ₦1,315
Total repayment = ₦21,315
Eligibility & Requirements
To qualify for an OkadaNaira loan, you must:
✔️ Be a Nigerian resident aged 18–65
✔️ Have a valid BVN and bank account
✔️ Provide a stable source of income
No collateral or guarantor is needed, but your credit history and repayment behavior will influence loan approval.
How to Download OkadaNaira Loan App (APK)
- Google Play Store: Search and download directly.
- APK Download: If the app is unavailable in your region, you can search “OkadaNaira Loan App APK download” on trusted APK sites.
- Register: Sign up with your phone number and verify via BVN.
- Apply: Fill out loan application, wait for approval, and receive funds.
Repayment Process
- Repay within the loan tenure through your bank or mobile payment.
- Repayment history affects your loan limit and credit score.
- Late payments may lead to penalties and loan recovery actions.
OkadaNaira Loan App Customer Care Number
For complaints or support, you can reach OkadaNaira via:
Phone: 09045334576
Email: [email protected]
Service Hours: Monday – Friday, 9:00 AM – 6:00 PM
Office Address: 68 Coker Street, College Road, Ifako Ijaye, Agege, Lagos
Privacy Policy: okadanaira.com Privacy
User Reviews – The Good & The Bad
OkadaNaira has mixed reviews from Nigerian users:
Positive Experiences
- “Fast and super good. Highly recommended.” – Lawson Okumagba
- “Very good and reliable.” – Elizabeth Enabulele
- “Quick loan processing, low interest.” – Johnson Karim
Negative Experiences
- “Applied for ₦6,000, received only ₦3,600 but expected to repay nearly double.” – Superboy Johnny-L
- “Interest rates are outrageously high, loans disbursed are lower than applied.” – Queen Melanin & Ufouma Wealth
- “BVN and account errors, failed disbursements.” – Olasunkanmi Bakinde & Chidozie Okezu
- “Waste of data. Don’t download.” – Olajuwon Basit & Joy Mirabell
Pros and Cons of OkadaNaira
Pros
- Quick and simple loan process
- Loan amounts up to ₦500,000
- No collateral required
- Available for emergencies and bill payments
Cons
- Reports of high hidden charges
- Loan disbursement often lower than requested amount
- Repayment periods shorter than advertised
- Poor customer service according to many users
Final Verdict – Is OkadaNaira Loan App Legit or Scam?
The OkadaNaira Loan App does provide loans, but user complaints suggest that hidden deductions, high interest rates, and poor transparency are major issues. While some borrowers get funds quickly, others report being disbursed less than promised and forced to repay almost double within 7 days.
If you must use OkadaNaira, start with a small loan and carefully review repayment terms before accepting.
Rating: ⭐ 2.5/5 – Provides loans but with high risks of hidden charges.
