Sometimes, borrowing money from the bank can be so stressful and difficult. The application process can be a hassle and you live in constant fear of losing what you placed as collateral. Looking for a loan app you can rely on? Look no further, Okash is the app for you.
Okash is a reliable loan app that grants loans to Nigerians that need personal loans to satisfy specific needs and pay back in the agreed future.
Though Okash is easily accessible to the public, there are some requirements you need to meet to be eligible for a loan at Okash. In this article, we will discuss how you can qualify for a loan for Okash.
How do I Qualify for a Loan from Okash
To be eligible to apply for a loan from Okash, there is some information you need to provide to qualify for a loan from Okash. Here are some of the requirements you need to qualify for a loan from Okash:
- You need to have a valid means of identification to show you are a Nigerian resident.
- Provide a date of birth that shows you are at least 20 – 55 years of age.
- You must state the reason for a loan.
- Your Bank Verification Number is needed.
- You must provide your account details.
Once you have provided all the information listed above, you are eligible to apply for a loan from Okash.
What is the interest rate of a loan from Okash?
The interest rate of an Okash loan is unique. A daily interest rate of 0.1% to 1% is imposed on the loan you were given. When you calculate the interest annually, it amounts to 36.5%. You will be required to pay an origination fee.
How long does it take to receive loans from Okash?
After you have applied for a loan from Okash and it has been approved, your funds will be sent to you in a matter of minutes.
Is there an Okash app?
Yes, there is an Okash app available for download on all mobile devices (android and iOS devices). With the Okash app, you can easily apply for loans and pay them back.
What is the USSD code to repay the Okash loan?
When you are ready to repay your Okash loan, you can easily do this via the USSD code *955#. The mobile app can also be used through the ATM card details you provided.
What is the loan limit of Okash?
The maximum amount of money you can get from Okash is N50,000. The approval rate of Okash loans is very high and can be done fast.
Why can’t I apply for an Okash loan?
Okash makes use of the information you filled in to determine if you are fit for a loan. Your reason for borrowing and your loan repayment history also matters.
What if I pay my Okash loan late?
If you fail to pay your loan on the agreed time, you automatically incur a daily interest of 2%. So, it is important you pay on time or avoid applying for a loan when you do not need to.