This is a summary of an article titled how to borrow money from Opay

If you're looking to borrow money using Opay, you're in luck! Opay, a popular mobile banking app in Nigeria, doesn't directly provide loans, but it partners with trusted loan apps like Easemoni and Okash to make borrowing easy.

To get started, you'll need to have a few things ready: you must be at least 18 years old, have a valid phone number, a government-issued ID, and your BVN. These loan apps typically require a working bank account for the money to be deposited.

Once you've got these in place, using Opay to access these loans is straightforward. Simply download the Opay app if you haven't already, create an account (which takes just a minute), set up your transaction PIN, and then navigate to the 'Finance' section in the app.

From there, you'll find options for 'Savings' and 'Loans'; choose 'Loans' to access the third-party loan services like Okash and Easemoni. Click on one of these services, set up an account with them, and link it to your Opay account.

The benefits? These loans offer quick disbursement—sometimes within 6 hours—and the application process is quite hassle-free if you meet the requirements. Plus, the good news is you typically don't need collateral to secure these loans, just your basic details.

As for the interest rates, they're set by the respective loan apps (Okash and Easemoni) and vary. Okash offers flexible repayment periods with interest rates ranging from 0.1% to 1% daily, resulting in an APR between 36.5% to 360%. Meanwhile, Easemoni offers rates from 5% to 10% per month, leading to an APR of 60% to 120%.

But remember, to access these loans through Opay, having a verified BVN is a must. Opay doesn't issue the loans directly; it acts as a platform to connect you with these loan services.

And hey, if Opay isn't your cup of tea, there are other loan apps like Fairmoney, Palmcredit, Carbon, and more available in Nigeria. But just a heads up, BVN verification is a common requirement across these platforms too.

Hope this helps you navigate borrowing through Opay or other loan apps in Nigeria!

Why collect a loan at that high rate. Too high. . Thanks

Easimoni that deducted my friends 8,000 naira while trying to access their loan for the first time,abeg go rest.Hungry thieves
I thought opay was sending messages that they will be disengaging from partnering with this useless easimoni and okash come this January 2024, so why this die minute advert?

If you collect the money and don't pay heven won't fall

you are fronting for Opay no doubt as staff or agent