Opay Loan: How to Borrow Money from Opay (upto 500k) With or Without BVN (2024)

Opay Loan Requirements

To borrow money from Opay, you need to meet a few requirements:

1. Be a Nigerian citizen.
2. Have a registered Opay account.
3. Possess a valid BVN.
4. Hold a valid ID (National ID card, driver’s license, or international passport).

Steps to borrow money from Opay app

Once you’re eligible, follow these steps to get a loan from Opay:

1. Download the Opay App from Google Playstore or iOS Playstore.
2. Log in to your Opay account.
3. Tap on the “finance” tab.
4. Choose the “loan” option.
5. Pick Okash or Easemoni and download it.
6. As a new user, fill in the loan form with accurate details.
7. Stick with your current limit or enter the desired loan amount.
8. Review your application and click ‘submit.’
9. Wait a few minutes or hours for approval or rejection notification.
10. If approved, the money goes to your entered account.

Before applying, check Opay’s terms and conditions for loan penalties. That’s it.

Opay Loan code

To use Opay without the internet, just dial *955# on your phone. Follow these simple steps to borrow money:

1. Get the Opay app on your phone.
2. Dial *955# from your registered number.
3. Choose ‘loan’ from the options.
4. Follow the steps to finish the application.

The borrowed money will be sent straight to your account. Easy peasy!

Interest rates

How to Repay Opay Loan

Once your loan is approved, it’s time to think about paying it back on the due date. There are different ways to do this:

Use Your Opay Balance: If you have money in your Opay account, just click ‘repay’ on the loan details page.

Transfer from Other Apps: Easemoni and Okash are not on Opay anymore, but you can still repay loans from those apps by transferring the amount to the provided account number on the repayment page.

Automated Direct Debit (ADD): Set up automatic repayments using your bank details, like your ATM card or account number.

Remember, if you delay repaying, extra charges may apply, affecting your credit score.

FAQ

How to borrow money from Opay without BVN?

Want to borrow money from Opay without BVN? First, make a Basic (Tier 1) account on Opay. Then, apply for a loan on the Opay app using Easemoni or Okash. Keep in mind, you’ll get a small loan until you link your BVN.

How Much Can I Borrow From OPay For The First Time?

Wondering how much you can borrow for the first time? Opay checks your credit history and transactions to decide. Your loan limit depends on these factors.

Conclusion