Do you urgently need a loan? In Nigeria, numerous online loan services offer quick and straightforward access to credit without requiring collateral or a guarantor.

Among the various loan apps in Nigeria, Opay stands out with its exceptional lending services. The app facilitates instant loans from reliable lenders on its platform.

Whether you’re wondering how to borrow money from Opay app, seeking methods to access loans without BVN, or aiming to apply for an Opay loan on iPhone or Android, this guide has you covered.

Let’s delve into all the essential steps for borrowing money from Opay. You’ll discover eligibility criteria, application procedures, interest rates, and repayment methods.


What is Opay All About?

Before we continue to discuss on How to Borrow Money From Opay, lets quickly find out what Opay is all about.

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Opay serves as a mobile app providing online banking and financial services in Nigeria. Users can access an array of financial services, including borrowing money, through the app.

As an Opay user, you can save money, make free transfers, receive funds, purchase airtime, pay bills, and even enjoy daily cashback benefits.

What is Opay’s Loan Services like?

Opay isn’t a direct loan provider but hosts loan companies offering collateral-free instant loans to its users.

Through Opay, users gain access to credit loans from well-known Nigerian loan companies like Easemoni and Okash, which provide low-interest loans on the Opay platform.

Although Opay no longer collaborates with these companies, but you can still access loans through Opay’s services to simplify the borrowing process.

Borrowing from Opay is straightforward, but primarily requiring an active account with additional specific requirements.

Eligibility Criteria for Opay Loans

To qualify for an Opay loan, you must meet specific eligibility requirements:

  • Nigerian citizenship
  • Registered Opay account
  • Valid Bank Verification Number (BVN)
  • Valid means of identification (National ID card, driver’s license, or international passport)

Meeting these criteria enables you to apply for a loan via Opay.


How to Borrow Money From Opay How to Borrow Money From Opay

Once you confirm your eligibility, follow these steps to secure a loan through Opay:

1. Download the Opay App from Google Play Store or iOS App Store.

2. Log in to your Opay account on the mobile app.

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3. Navigate to the “finance” tab on the homepage.

4. Choose the “loan” option.

5. Select your preferred lender between Okash and Easemoni and download the respective app.

6. Complete the loan application form by providing accurate personal information.

7. Choose your desired loan amount or stick to your current limit.

8. Review the loan application details and submit.

9. Await approval notification, typically within minutes or hours.

10. If approved, the loan amount will be disbursed to your provided account number.

You Can download the Opay app directly by Click Here 

Opay Loan USSD Code

For users without smartphones, utilizing the Opay USSD code allows access to loans:

1. Dial *955# using the registered Opay phone number.
2. Select the “loan” option.
3. Follow the prompts to apply for a loan.
4. Receive the disbursed loan amount into your account.

Is OKash a legit loan app?

Yes, Okash a legit loan app. They are duly registered and approved by the Central Bank of Nigeria.

They have a physical address in lagos and have security put in place to prevent users account from being hacked or thwarted by hackers.


Opay’s Loan Interest Rates

The interest rates for Opay’s loans depend on the loan service provider. For instance, Easemoni offers rates ranging from 0.1% to 20%, while Okash offers rates between 0.1% and 30%.

It’s important to note that these rates may vary based on your credit score. Defaulting on loan repayment might lead to increased interest rates.

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How To Repay Your Opay Loan

Upon loan approval, the next step is repayment, which offers different options:

  • Repay using your Opay balance
  • Transfer the loan amount through Easemoni or Okash apps via Opay
  • Set up automated direct debit using your bank account details

Timely repayment is crucial to avoid additional charges that could impact your credit score negatively.

What are the Benefits of Opay Loans?

  • Fast loan disbursement
  • Flexible repayment options
  • No collateral required
  • Competitive interest rates

Frequently asked questions FAQs

Here are the frequently asked questions (FAQs) on How to Borrow Money From Opay

1. How can I borrow money from Opay?

To borrow money from Opay, download the Opay app, create an account, and apply for a loan through the Opay Credit service, which includes Okash and Easemoni.

2. Does Opay offer loans directly?

Opay doesn’t directly provide loans but partners with companies like Okash and Easemoni, facilitating access to loans through their platform.

3. How to borrow money from Opay without BVN?

To borrow a loan from Opay without BVN, create a Basic (Tier 1) account with Opay and apply for a loan through Easemoni or Okash.

Keep in mind that initially, you might only be eligible for a small loan amount until you link your BVN.

4. What is the USSD code to borrow money from Opay?

The USSD code to borrow money from Opay is *955#.

5. How much can I borrow on Opay?

The loan amount you can borrow depends on the chosen loan company, your credit score, and other factors. However, you could borrow up to one million naira if you meet all the requirements.


Opay aims to simplify loan accessibility for its users, offering a seamless borrowing experience. Now equipped with this guide, you can confidently apply for loans through Opay’s services.

Now let’s here your Feedback

If you’ve previously borrowed money from Opay, share your experience with us in the comments.


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