How to Get Loan From Opay (Fast Step)

Opay is one of the leading fintech companies that offers different financial services like fund transfers, loans, bill payments, airtime, data top-ups, etc. to their users. This fintech company is widely known in every part of the country and beyond.

However, over the years, people have continued to ask whether Opay offers a loan and how they can apply for the loan. Well! The simple answer is ‘’YES’’ but Opay offers a loan through a third-party financial platform, which are EaseMoni and Okash.

This means that Opay doesn’t offer loans directly to their users; rather, the loans are offered by their partners. So, getting a loan from Opay is not difficult if you understand their principles and mode of operation.

Does Opay Give Loan?

How to Get Loan From Opay

YES. Opay offers loans through their party platforms, which are EaseMoni and Okash. This means that Opay doesn’t offer loans directly, but they partner with third-party financial institutions to give loans to their users.

Hence, if you want to access a loan from Opay, you are going to choose a third-party platform, which is either Okash or EaseMoni. Once you choose either of the two, you will download the app, sign up, and complete the loan application form.

Eligibility Criteria for Opay Loan 

To qualify for an Opay loan, there are certain eligibility criteria that you must meet before you can access the loan. The requirements are outlined below:

1. Opay Account: You must have a functional & active Opay account.

2. Valid Means of Identification: You must have a valid means of identification like voter’s card, driver’s, international passport, etc.

3. BVN: Your bank verification number must be active.

4. Income Source: You must have a steady and stable income source.

5. Credit Score: You must have a good credit score.

6. Proof of Residence: You will need to provide a utility bill receipt, like a light bill receipt, a water bill receipt, etc., which will be used for address verification.

Opay Loan Application Process 

Applying for Opay loan is simple and straightforward. Follow the steps below to apply:

1. Download and Install the Opay App

If you don’t have the Opay mobile app, download it from the official app store to get started.

2. Create and Verify Your Opay Account

Once you’re done downloading and installing the app, the next thing is to open an Opay account with your details. After that, follow the onscreen instructions to verify your account.

3. Choose Between Okash and EaseMoni

Since Opay doesn’t offer loans directly, you will need to choose from their affiliate partners, which are EaseMoni and Okash. Any one you click on will be redirected to the official app store, where you can download before proceeding with the loan application.

4. Apply For the Loan

After downloading and installing the Okash or EaseMoni app and creating an account, the next step is to apply for the loan.

You can apply for the loan by completing the online loan application form with the relevant details, such as your personal details, the exact loan amount, and other needed information.

5. Submit your loan application and wait for approval.

If you meet all the requirements, your loan application will be approved, and it will be communicated to you. If you are not qualified, you will also be informed.

6. Receive your Loan

If your loan application is approved, the loan amount will be disbursed to your nominated bank account or your Opay wallet, depending on which you choose.

Conclusion

Getting a loan from Opay is pretty simple and seamless if you understand their principles and mode of operation. It is worthy of note that Opay offers loans through their third-party platforms, which are Okash and EaseMoni; hence, they don’t give loans directly to their users; rather, loans are disbursed by their partner. However, before you apply for the Opay loan, ensure that you meet the eligibility criteria so that your loan application will be approved. 

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