OKash is a Micro-lending product which is provided by Blue Ridge Microfinance bank. Users can download OKash from Google play and set up their loan account in seconds, select their preferred bank account, link their active bank card for repayment, fill out a set of questions before you borrow money.
Remember it is cheaper to repay loans over a shorter period.
Ask what the fee rate is and work out what this means for you.
Compare fee rates.
Look at the small print, which explains all the terms and conditions.
Remember that fee rates could change, and your installment could increase.
Calculate extra costs like administration fees into your installment.
Budget for repayments.
Keep your Pin private.
Never give your details over the phone unless you called the person or know exactly who you are talking to.
Table of Contents
Who can apply for a loan ?
OKash does not limit your work, income, or other conditions. So long as you are 20-55 years old, all you need is an Android device, a data connection, a means of identification, as well as valid bank account and card
Open your OKash App and find Loan to start loan application process.
How to deactivate my DND status ?
Text START to 2442 on your ETISALAT number that has stopped receiving Bulk SMS.
Text ALLOW to 2442 on your MTN number that has stopped receiving Bulk SMS.
Text CANCEL to 2442 on your GLO number that has stopped receiving Bulk SMS.
Text ALLOW to 2442 on your AIRTEL number that has stopped receiving Bulk SMS. (It has been discovered that MTN and AIRTEL networks have imposed DND without subscribers’ consent but you can still confirm by texting STATUS to 2442).
In case of these codes don’t work, kindly call our Customer Care. (Airtel 111 or 121, MTN 180, Etisalat 200, GLO 121 or 200).
What information do I need to provide ?
Simply follow the instructions by answering all the questions as asked. Make sure to provide authentic information about yourself.
How to fill your emergency contact’s information ?
Your emergency contact is the person who can prove your reliability, credibility and honesty. We may contact him/her when we decide the loan. Please fill the emergency contact’s information carefully.
How long does the application process take ?
The process takes a few minutes.
How does OKash decide whether to give me a loan or not?
OKash uses data from your phone including your handset details and financial transaction messages , and your reason for borrowing. We combine these together with your OKash repayment history to build an individualised credit score and determine the suitable loan offer for you.
What is the maximum loan amount one can receive?
It differs by individual, so please ensure your information is accurate, and you are applying with your personal mobile device. then you may get a large loan amount.
What is the origination fee charged and maximum period of the loan?
The origination fee charged is 1.2% per day for a fixed term of 15 days.
I don’t know my BVN. What should I do ?
My bank card is declined when I tried to complete card setup. What shoud I do?
This may casued by the listed reasons:
You have insufficient funds in your related bank card. Please ensure you have at least ₦15 in the bank card for setup.
You haven’t activated your card for online transactions. For card activation instructions, please contact your bank.
Details input may be incorrect: please check the card number, expiry date and CVV provided to be sure all information is valid.
You are attempting to setup a card which has already used by another OKash customer.
According to them “we currently support multiple bank cards setup, if you still have issues with bank card setup, please send us a message and we are glad to help you”.
How to repay the loan ?
If you want to make a payment prior to your due date, please click the ‘Make a Repayment’ button that appears on the ‘My Loan’ page of the app.
Why do you need permission to access my device?
OKash will access your mobile device for the permission of (but not limited to) contacts, location, SMS, calendar and camera to estimate the suitable loan offer for you. It is a very important part of evaluation process.
Can I trust OKash with my infomation?
According to them “We promise that we will never disclose your personal information to third parties without your consent. (exempted late refund and service requirement)”.