Financeloan apps

OKash Loan App Review: How to get a loan

Okash loan app offers instant personal loans to salaried and non-salaried professionals. The app offers an unsecured personal loan through a smartphone within 10 minutes with minimal documentation. Personal loan amounts from NGN 3,000 to NGN 500,000 can be availed with a 10% to 30% monthly interest rate. 

Okash loan Rates

Loan amount NGN 3,000 to NGN 500,000.
Interest rate10% to 30% monthly
loan Tenure7 to 30 days
credit historynot required
customer care number018884549

OKash loan app Eligibility Criteria

An applicant needs to fulfil the following criteria to get a personal loan through Okash:

  • Should be an Nigerian resident
  • Should be aged between 21 years and 66 years
  • Should have a regular source of income
  • Should have a bank account

Features and benefits of Okash Personal Loan

  • You don’t need to have a credit history to get a personal loan from Okash. The loan amount is offered based on a customer’s risk profile. 
  • The entire loan process is paperless and digital through your mobile. 
  • You can apply and access loans at any time from anywhere.
  • Loan application is reviewed in just 30 minutes, and once approved, the loan amount is deposited to your bank account directly in 5 minutes.
  • Services are available across Nigeria. 
  • With a good credit score, the eligible loan amount gradually increases.
  • Repay the loan through a variety of convenient repayment methods.

How to Download APK and get a loan from OKash Loan app

  • Download the Okash Loan App exclusively available on the Google Playstore and install it on your Android phone.
  • Register an account with your phone number.
  • Preferably the phone number connected to your BVN as a one-time password will be sent to it for verification.
  • Fill in your basic know-your-customer KYC information, including your residential address, next of kin, and employment details
  • You will also be required to provide your Biometric verification number BVN.
  • You’ll be charged N30 to bind your ATM card to your account to increase your chances and getting a higher loan amount.
  • A one-time password OTP will be sent to your phone to confirm your details.
  • After the submission of your loan application, the software will analyze your credit score and the final result will be shown in the APP.
  • The result should be displayed in less than two minutes and if you qualify for a loan, the loan amount will be disbursed into the bank account directly.
  • Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identity.
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Note that binding your ATM card with N30 does not guarantee that you will get a loan, you still have to pass the credit score check.

The N30 charged to bind your ATM card to your account is refundable, but can take anywhere from 7 to 12 business days for the money to be refunded back to your bank account.

Your BVN is linked to your credit score, so if you have an outstanding loan with other lenders or didn’t pay other lenders as at when due, expect your application to be rejected.

Your credit score is a record of your previous borrowings, how early or late you make your payments, cash transactions going in and out of your bank account among other information.

When you download this app you have to consent to it to get access to your phone book contacts that will serve as your guarantors, SMS to see your banking transaction records, apps on your phone to see how you use other loan apps and other details it uses to build your credit score.

What other borrowers are saying about OKash loan app

Ikewuchi James wrote, “Best app. Low interest then the other apps and no contacting contacts, also the duration is very good and comfortable. Enough time to pay back. Simply the best but I’ll give 4 star because instead of increasing my limits, it’s stable even when I pay two weeks before time. Most times I pay back 3 days after collection loan and instead of increasing, it decrease. That’s the only problem I have with this app.”

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bello lukman wrote, “I was initially thinking the App was the best but to my surprise it’s a crime to pay up your loan before the due date. I made payment 3 days to my previous loan due date but unfortunately/immediately I was blocked out not to take another loan again. So sad and very bad experience. I might deactivate the app from my phone any moment from today. What a pity!”

Matthew Omeka wrote, “I hate the way their agents and computer programmed voice agent disturb their customer with messages and calls even before the due date. It’s so annoying and frustrating, if you are someone who doesn’t have heart, don’t think of downloading this app. I can not confidently recommend this app to some one, because they can kill you before your time.”

OKash Customer Care

Okash values its customers and offers one of the best customer services. You can contact Okash on different touchpoints mentioned below:

Customer Service Email: [email protected]
Customer Service Hotline: 018884549
Address: Room 301, Japaul House, Plot 8


Is Okash loan app legit?

Okash loan app is legit and gives micro loans to a maximum amount of N50,000 to customers, but has really high interest rates and bugs that prevents smooth registration. caution should be taken before taking any online loan. Always read other customer’s reviews before you apply for a loan in Nigeria.
You should know that these loan apps are not registered or regulated by the CBN or any government agency in Nigeria. You are responsible for the security of your transactions with them and there is no way to seek redress for poor customer service.
Also its availability on Google play store does not make transactions performed on it secure. The play store merely provides an avenue for download, you are responsible for your own security while using loan apps in Nigeria.
Because there is no regulations in Nigeria, most of these apps are loan sharks who might threaten to send messages to your family members calling you a scammer if you default on your repayment. It is best to avoid these apps if you have other options.
If you’re being threatened or bullied by any loan shark in Nigeria, see this Facebook group where you can find support and read about the experience of others who have suffered bullying from loan apps.
You can take steps to check and remove your BVN from the credit bureau blacklist after repaying your loans and your loan app did not automatically clear you.

Can I apply for a loan from Okash?

Any individuals who meet the following criteria can get a personal loan from Okash. • Resident Nigerian • 21-56 years old • Should have a regular monthly income.

How do I repay my OKash loan?

Once you get the loan amount, you can repay the loan through various payment methods including auto-debit from the card you binded on due date, or simply repay your loan at anytime through the in-app payment gateway.

Ibrahim Ismail

A passionate and highly skilled individual who has seamlessly blended the worlds of statistics, technology, and finance.

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