Borrow Money from Opay: Full Loan Guide & Interest Rates

Introduction

Opay is one of the most popular digital banking apps in Nigeria, offering services like:

• Airtime & data purchase.
• Cable TV & utility bill payments.
• Quick money transfers & QR payments.
• Instant loan access via third-party partners like Easimoni & Okash.

Opay does not directly give loans but partners with licensed lenders to offer quick, collateral-free loans. This guide explains how to borrow money from Opay, loan interest rates, USSD codes, and repayment methods.

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How Does Opay Loan Service Work?

Opay makes borrowing easy through its mobile app & USSD code. Here’s how it works:

1. Opay users request loans via the Opay finance section.
2. Third-party lenders like Easimoni or Okash process applications.
3. Approved loans are disbursed instantly into your Opay account.
4. Users repay via Opay or USSD before the due date.

With this setup, Opay ensures fast loan processing while leaving the lending decisions to its partners.

Opay Loan Eligibility & Requirements

To qualify for an Opay loan, you must:

• Be a Nigerian citizen.
• Be at least 18 years old.
• Have a registered Opay account.
• Have a valid BVN (Bank Verification Number).
• Provide a valid ID (NIN, Driver’s License, or Passport).

If you meet these requirements, you can apply for an Opay loan immediately.

How to Borrow Money from Opay (Step-by-Step Guide)

1. Borrow Money from Opay via Mobile App

1. Download & install the Opay app from Google Play Store (Android) or App Store (iPhone).
2. Create an Opay account & complete registration.
3. Set up a transaction PIN for security.
4. Go to the “Finance” section and select “Loans”.
5. Choose a third-party lender (Easimoni or Okash).
6. Enter the loan amount you need (or go with the suggested limit).
7. Review loan details & submit your application.
8. Receive approval & get funds directly in your Opay account.

2. Borrow Money from Opay on iPhone

1. Visit the Apple App Store and download the Opay app.
2. Open the app & select a loan provider.
3. Fill in your personal details & loan request.
4. Submit your application & wait for approval.

3. Borrow Money from Opay on Android

1. Download the Opay app from Google Play Store.
2. Create an account & verify your phone number.
3. Select a loan provider (Easimoni or Okash).
4. Fill in the required information & submit your loan request.

4. Borrow Money from Opay Using USSD Code

If you don’t have a smartphone, you can apply via USSD code.

1. *Dial 955# on your phone.
2. Select the loan option from the menu.
3. Follow the prompts & confirm your application.
4. Receive loan disbursement upon approval.

Note: You must have an Opay loan partner account before using the USSD option.

What is Okash?

Okash is a licensed micro-lending company owned by Blue Ridge Microfinance Bank. It is approved by the Central Bank of Nigeria (CBN) and one of Opay’s official lending partners.

How to Get an Okash Loan

1. Download the Okash app from Google Play Store.
2. Register an account & complete verification.
3. Choose a loan product (cash loan, airtime loan, etc.).
4. Fill in your details & submit an application.
5. Receive a verification call & loan approval status via SMS.

Related: Opay POS Charges 2025: Benefits & How to Apply

Opay Loan Interest Rates & Repayment

Interest Rates

Opay does not set loan rates. Instead, rates depend on the lending partner:

• Easimoni: 5% – 20% interest rate.
• Okash: 3% – 30% interest rate.

Loan Repayment

You can repay Opay loans via:

1. Opay App → Go to “Finance” > “Loans” > “Repay”.
2. Okash or Easimoni App → Select “Repay Loan”.
3. Bank Transfer → Use the lender’s account details for repayment.

Late repayment attracts penalties & higher interest rates.

Benefits of Borrowing from Opay

• Fast approval & disbursement within minutes.
• No collateral required.
• Flexible repayment terms.
• Multiple loan options via third-party lenders.

FAQs About Opay Loan App

Conclusion: Get Instant Loans with Opay Today

Opay provides quick access to loans through its trusted partners like Easimoni & Okash. With no collateral required, users can borrow money easily via mobile app or USSD.

However, always review interest rates & repayment terms before borrowing.