In the world of online lending, Okash Loan has carved out a significant presence. It boasts numerous downloads and a reputation for providing collateral-free instant loans. But is it all positive, or are there some negative aspects that need addressing? In this detailed review, we will delve into the Okash loan app to provide you with an unbiased assessment of its legitimacy, application process, interest rates, and overall functionality.

Introduction to Okash Loan

Okash, an Opera Subsidiary

Okash operates under the umbrella of Opera, with its full name being “Opera Kash.” It is closely integrated with Opay, another fintech venture under Opera’s wing. This integration allows users to access Okash services through the Opay app, adding convenience to the borrowing process.

Collateral-Free Online Lending

Okash distinguishes itself as an online loan platform that extends credit without the need for a guarantor or collateral. This means you can secure a quick loan for personal expenses or business investments without the burden of finding someone to vouch for you in case of default.

Legitimacy of Okash Loan App

Licensed and Certified

Is Okash a legitimate lending platform? Yes, it is. Okash is licensed to provide loans and holds certification from the Central Bank of Nigeria (CBN), ensuring it adheres to regulatory standards. Furthermore, its presence on the Google Play Store with a respectable 4.3-star rating and over a million downloads is a testament to its legitimacy and popularity among users.

Okash Loan Requirements

Securing a loan through the Okash app is relatively straightforward, but certain prerequisites must be met to ensure loan approval. Here are the essential requirements:

  1. Valid Email Address: You need a valid email address for communication purposes.
  2. Android Phone: The Okash app is compatible with Android devices.
  3. Age Range: Applicants must fall within the age range of 20 to 55 years.
  4. Residency: You must be a resident of Nigeria.
  5. Identification: A valid identification card (ID card) is mandatory.
  6. Bank Details: You’ll need to provide your bank account number, bank account name, bank card (ATM card), and Bank Verification Number (BVN).
  7. Steady Income: A steady source of monthly income is required, and you must state the reasons for your loan application.
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Failure to meet any of these requirements will result in loan rejection by Okash.

Okash Loan Interest Rate

One of the critical aspects to consider in this Okash loan review is the interest rate structure. Okash’s interest rates range from 0.1% to 1%, calculated on a daily basis. The Annual Percentage Rate (APR) varies from 36.5% to 360%. Additionally, there is an origination fee, which can range from NGN 1,229 to NGN 6,000 as a one-time charge.

To illustrate, let’s consider a 91-day loan with a processing fee of 41% and an interest rate of 9.1%. For a principal amount of ₦3,000, the processing fee would be ₦1,229, the interest ₦273, and the total due ₦4,502. This amount is further broken down over the loan’s duration, with the first month costing ₦1,512, the second month ₦1,495, and the third month ₦1,495.

How to Apply for a Loan with Okash

Securing a loan with Okash is a straightforward process. Here are the steps to follow:

  1. Download the Okash Loan App: Begin by downloading the Okash loan app (keep scrolling for download links) and installing it on your Android device.
  2. Registration: Create a new account on the app.
  3. Application: Access your dashboard and click on “Apply Now.”
  4. Information Submission: Fill in all the required information accurately.
  5. Review: Wait for your application to be reviewed by Okash.
  6. Loan Approval: If your application is accepted, you’ll receive the requested loan amount.
  7. Reapplication: In case of rejection, you can try again.

Remember to carefully read and understand the terms and conditions of Okash before proceeding with your application.

Okash Loan App Download

After familiarizing yourself with the Okash loan app review, the next step is to download the app. Here are the download options:

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Google Play Store:

  • Name: Okash: Safe and Reliable Loan
  • Version: Latest Version
  • Size: 14MB
  • Downloads: 1,000,000+

Alternatively, you can also download the Okash APK via your browser


Okash Loan App Review

Okash is not only available through the Opay app but also as a standalone app on the Google Play Store. It has achieved over a million downloads and boasts an impressive 4.3-star rating, making it one of the highly-rated lending apps on the platform.

User Feedback on Okash Loan App

To provide a well-rounded perspective on Okash, it’s essential to consider both positive and negative feedback from users. Here’s what users have reported:

Positive Feedback:

  • Seamless Application Process: Many users appreciate the ease of applying for a loan through Okash.
  • Timely Disbursement: Borrowers have reported that loans are credited to their accounts quickly once approved.
  • Responsive Customer Service: Okash’s customer care is commended for its speed and competence in addressing user queries.

Negative Feedback:

  • High-Interest Rates: Some borrowers find the interest rates, especially for longer-term loans, to be on the higher side.
  • Late Repayment Penalties: Okash imposes a rollover fee of 2% per day for late repayments, which some users consider steep.
  • Variable Loan Limits: The maximum loan amount varies by individual, leading to some borrowers receiving smaller loans than expected.

How Does the Okash Loan App Work?

Here is a simplified breakdown of how the Okash loan app operates:

  1. Install the Okash App: Download the Okash app from the Play Store.
  2. Registration: Create an account.
  3. Loan Selection: Choose the loan product you wish to apply for.
  4. Information Submission: Provide your basic information and submit the application.
  5. Verification: You may receive a call for verification, and the application result will be displayed in the app. Approval notifications are sent via SMS.
  6. Loan Agreement: After approval, e-sign the loan agreement.
  7. Loan Disbursement: The approved loan amount is disbursed into your account, and you receive an SMS notification.

Okash Customer Care and Support

For users seeking assistance or clarification, Okash provides multiple channels of communication:

  • Customer Care Number: You can reach Okash customer care at 08097755512 for prompt assistance from their competent representatives.
  • WhatsApp Number: Additionally, Okash offers support through WhatsApp at +2349019099999, ensuring a swift response to your inquiries.
  • Email Support: For more detailed queries, you can contact Okash customer support via email at, and they will endeavor to respond promptly.

    Okash Loan Review – FAQs

    Here are some frequently asked questions regarding Okash:

    1. Who owns Okash? Okash is a subsidiary fintech company under Opera, a Norway-based software maker.

    2. What is the interest rate of Okash loans in Nigeria? Okash interest rates range from 0.1% to 1%, calculated daily. The Annual Percentage Rate (APR) varies from 36.5% to 360%.

    3. Who can apply for Okash loans? Okash does not impose strict conditions on work, income, or other factors. As long as you are aged 20-55, possess an Android device, have a data connection, provide valid identification, and have a bank account with a card, you can apply.

    4. What information do I need to get a loan on Okash? Follow the application instructions, ensuring that you provide accurate personal information. Be prepared with your bank details, BVN, and ID card.

    5. How long does the Okash loan application process take? Okash’s loan application process typically takes just a few minutes, ensuring quick access to funds.

    6. What is the maximum loan amount one can receive on Okash? The maximum loan amount varies by individual, so accuracy in providing personal information is crucial.

    7. Can I make an early repayment of my Okash loan? Yes, you can make early payments before the due date. Use the ‘Make a Repayment’ button on the ‘My Loan’ page of the app.

    8. What happens if I repay my Okash loan late? Late loan repayments incur a rollover fee of 2% per day, so it is advisable to adhere to the repayment schedule to maintain a favorable borrowing credit score.

    9. Can I trust Okash with my personal information? Okash pledges not to disclose your personal information to third parties without your consent, except in cases of late refunds and service requirements.


    In conclusion, Okash, as a part of the Opay and Opera ecosystem, stands as one of Nigeria’s trusted online loan providers. This comprehensive review should equip you with a clear understanding of Okash’s legitimacy, application process, interest rates, and user feedback. With the information at hand, you can make an informed decision about whether Okash is the right lending platform for your financial needs.

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