Opay Loan Review: How To Access Opay Loan, Interest, USSD Code, Requirements

Borrowing money in Nigeria is easy, thanks to the boom of online loan companies in recent years. These companies provide quick, short-term loans for their customers without asking for any collateral. These days, you can easily access student loan in Nigeria, payday loan, and so on.

About Opay

Founded by the internet giant Opera, OPay is a mobile-based platform that offers essential services such as payment, commercial transportation services, food and grocery deliveries, and others.

OPay is short for Opera Pay. It’s a comprehensive online payment platform that allows you to carry out a host of transactions. They include buying airtime, buying data, subscribing to Pay TV, paying electric bills, hailing a rider with OCar and OTrike, food delivery with OFood, transferring money, sending and receiving payment with QR, investment with OWealth, lending services with OKash loan, funding your betting account, listing your products and services with OList and building an online presence with OLeads.

Opay Loan App Review (Okash Loan)

Okash loan is the loan outlet of the OPay group. With this platform, you can get a loan in Nigeria at any time within minutes.


  • Fast and secure processing of loan payments
  • No collateral and deposit requirements.
  • Easy sign-up process
  • They offer incentives such as bonuses from time to time.
  • You can do the whole process online on your mobile phone. You don’t have to pay a physical visit.


  • Privacy concerns
  • Cost of loan repayment is high. There are other cheaper options
  • Loans are for short-term
  • It has a maximum amount you can borrow.

How to Borrow Money from Opay

The first step is to download the OKash loan mobile app. Open an account and fill in the necessary information; it takes less than five minutes to complete the registration. You will get a call or text option for verification.

Apply for a loan on the app, read the Terms and Conditions and look out for the interest rate and the repayment date. If you are okay with the following listed above, confirm your loan request, and you will get the money within minutes.

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Maximum or Minimum Amount You Can Borrow
The maximum amount you can apply for at any given time on OKash is N50,000. You can apply for loans as low as N3000.

Opay Loan (Okash Loan) Requirement

The requirement for applying for an OPay loan is easy. The loan service targets all Nigerians and doesn’t have any stringent conditions the average Nigerian is not able to borrow.

  1. The applicant must be a Nigerian resident
  2. The age bracket of the applicant has to be in the range of 20-55 years.
  3. The applicant needs to have a source of monthly income or state the reason why he or she wants the loan.
  4. Valid ID Card
  5. BVN Number

Opay Loan (Okash Loan) Interest Rate

What Is The Interest Rates Of OKash Loan? The daily interest rate is between 0.1% to 1%, while the annual interest rate is between 36.5% and 360%. Apart from this, you will have to pay an origination fee with your loan ranging from N1299 to N6000. The duration of the loan is 91 days for shortest tenure and 365 days for the longest tenure.

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How To Repay Opay Loan (Okash Loan)

  1. Open your mobile app
  2. Log into your account
  3. Click on the button that says ‘make a repayment’
  4. Provide all required details
  5. Click on the ‘repay’ button

It’s important to note that the platform makes use of a system that automatically debits your bank account once you loan repayment is due. This means that you do not really need to go through the steps listed above as long as you have sufficient balance in your account.

Opay Loan USSD Code

The Opay USSD code is *955#. This works when you already have an account created on the platform. The code provides you with a seamless experience while making transactions on your account.

OKash (a subsidiary of OPay) is a reliable loan service provider that offers quick loans in Nigeria. Applying for a loan on the app is easy. You get it disbursed into your account within minutes.


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