Opay loan is also known as okash, it stem from a giant tech company in Nigeria called Opramini, I’m sure you know the browsing app that helps Nigeria to surf the web with low data. They venture into many tech startup while some fail some survive such as Opay.
Well that is a story let go to the reason you are here; to know the Opay USSD code and that s exactly the purpose of this article and not only that we will also tell you how to get loan from opay and their requirement in fact everything you need to know.
How to borrow money from Opay
To loan money from Opay you have two options either you download their app or use the ussd code.
Using mobile app
Head over to playatore or app store to download opay app. Register and fill in all your details. After this applied for loan and within five minutes your loan will be disburse. Less I forget the loan is without collateral and you don’t need to vist their location
With Opay ussd code
The same thing with USSD code you don’t rneed to vist their location, by just dialing a code on your phone your account will be credited.
To use the code dial *995# on your phone and follow the prompt. You must have register on the opay app before you can use this ussd code
Maximum and minimum loan you can borrow with Opay
On opay loan app there is minimum loan you can applyy for which is #3,000 and maximum loan of #50,000
As a first timer your loan will not be up to #50,000 but as you take loan and pay back the amount of loan you can take will increase.
Opay loan requirements
Though you don’t need to visit their location before you get a loan there are still some requirements you need to meet which are
- You must be a Nigeria and recede in Nigeria
- You must be between 20 to 55 years of age
- You must have a government issued ID card
- You must have a BVN
Once you are able to provide this you are good to go
Opay loan interest rate and pay back period
Opay loan pay back period is short just 30 days and the interest rate is between 5% to 15% Depend don’t on the amount of loan obtain
How to repay opay loan
To repay your opay loan follow the procedure below
With opay loan you don’t need to enter a code or login to the app before you repay your loan, Opay has a system in place that will deduct your money automatically once the loan is due but if you want to repay before the loan due date follow the procedure below
Head over to opay app
Locate and click on make repayment
Fill in your card details and in minute your loan will be deducted from your account
Why opay loan
Perhaps you are thinking of leaving opay for another loan company, below point might change your mind
They are one of the few company that give small loan in Nigeria
They are quick in disbursing loan
You don’t need collateral before you will get a loan from them
They have a flexible repayment system
When you pay back your loan as at when due you will have opportunity for bigger loan