How to Borrow Money from Opay

OPay Bank offers loans through third-party platforms like Okash and Easemoni. The loan service is called the Opay Loan and it is available to users that meet some specific eligibility requirements. To be eligible to borrow money, you are required to have an account on the app.

How to Borrow Money from Opay

If you wish to take a loan from Opay but do not know how to go about it? Then read through and follow the procedures in this blog as it enlightens on How to borrow money from Opay.

Opay is a fintech mobile money service that provides quick loans. Opay leverages OKash and EaseMoni to streamline the loan approval process for any individual at any time. This then makes the loan application and repayment processes rather simple.

Users may have an opportunity to apply for a loan through the app, and if the loan is approved, you may receive the funds directly into the Opay wallet account.

The loan amount and repayment terms differ depending on the user’s history and creditworthiness with Opay.

When using the app to take a loan, you are redirected to download Okash or EaseMoni in order to complete the loan transaction.

To be eligible to borrow money from Opay, you first need to meet some requirements which are outlined below, then you can proceed to the loan process.

Opay Loan Requirements

You need to meet the following requirements for you to be eligible for an EaseMoni or OKash loan on Opay:

  • You must first have a valid Opay account.
  • Good source of income.
  • Good Credit score.
  • BVN.
  • Valid ID.
  • Residential Address.
  • Age.

How to Take a Loan from Opay

To borrow money from Opay you have to first follow the procedures outlined here below:

  • Open the Opay app on your mobile device.
  • Log into your account.
  • The next thing is to click on the Loan or Borrow option on the home screen. The version of the app you are using may make this vary.
  • You will then be presented with options like EaseMoni and OKash.
  • Choose the one you would like to continue with.
  • Then you will be redirected to download the app you prefer.
  • Download the app and sign up for an account on EaseMoni or OKash app.
  • Provide all necessary details required and proceed to the amount options.
  • You will now be offered various loan options and terms. Select the amount you require and the repayment period.
  • Now you have to fill in the required financial information and personal details as prompted. These may include your name, employment details, address, and income details.
  • The app will then review your application after you have provided all the necessary information and determine your eligibility for a loan.
  • If approved, the loan amount will then be credited directly to your bank account linked to the app or to your Opay wallet.
  • That’s all.

NOTE: Repay the borrowed amount within the specific repayment period to avoid any late fees or penalties. Opay usually deducts the repayment amount from your wallet or bank account.

How to Borrow Money from Opay without BVN

To apply for a loan through the Opay app via OKash or EaseMoni without linking your BVN, you first need to create a Basic (Tier 1) account with Opay. Note in mind that you may only be eligible for a limited loan amount until you link your BVN to your account.


A simple and fast option to have cash on hand when you need it is to borrow money from Opay. However, make sure you read and comprehend the privacy policy as well as the loan’s terms and conditions, including the interest rate, fees, and repayment time, before requesting a loan.

Think about the loan’s purpose and if taking it out is a wise financial move. Do you intend to utilize the borrowed funds to cover a sudden bill or to make an investment that will earn a return? You must determine whether the goal is worth it.

Make sure you have a plan in place to pay back the loan by the due date. If you are unable to make the payments, you risk building debt and lowering your credit score.


Can I Directly Get a Loan from Opay?

No, as stated in this piece, Opay does not provide loans directly to potential clients. Instead, it partners with the applications EaseMoni and Okash to provide lending services.

Opay Loan USSD Code?

Simply dial *955# on your cell phone and follow the instructions to obtain a loan from Opay (Okash Loan) using a USSD code. Keep in mind that you must be signed into the platform in order for this to function.

How Much Can I Borrow from Opay for the First Time?

Opay uses a number of methods to decide how much money to lend first-time borrowers. Your credit score, income, employment history, debt-to-income ratio, and payback history are a few of the most common features they take into mind.

To calculate a suitable loan amount, you may obtain for the first time, they also take information from your mobile device into account and take your loan purpose into account.

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