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“Palm credit loans Reviews” and wanted to know if “palmcredit loans is Legit or scam platform” then, you are at the right place.
I believe that by the time you are done reading this review, you will be able to take your decision of joining palm credit loans and knowing if
“Palm credit loans is Legit or scam platform.
In today’s Review, I will be revealing all you need to know about this loan app known as “Okash loans”
In this “Okash loan”, I will be answering questions like; Is Okash loan Legit? Is Okash scam? How does Okash loans works? Who is the owner of palm credit loans? Okash loan login? Is Okash loan registered with cbn? Okash loans registration/signup, Okash loans login or signin, is Okash giving loans? many more about Okash loans will be discussed in this “Okash loans Review”
Table of Contents
What is Okash loan?
Okash is one of the loan apps in Nigeria which is controlled by Blue Ridge Microfinance Bank Limited where you can get a loan from them online without collateral. Just like other loan apps, you can access loans within minutes without having to worry about providing any collateral.
Okash loan has been one of the few apps that give you access to small and large loans with little interest. If you wish to borrow money from Okash but don’t know how the fintech app works, this post comprehensively reviews the Okash loan requirement and how to register.
There are many reasons you may need to borrow money, such as investing in a business, sending your kids to school, building a house, buying a new car, paying off credit card debt, helping the kids pay for university or making a major purchase.
These mobile loan apps have saved alot of people from financial issues that could have lingered them from achieving or doing something important.
How Okash Loan Works
OKash provides loans almost every day of the week and the whole process is completely online.
You can receive loan amounts ranging from ₦3,000 to ₦500,000. All you need to do is download the mobile app, meet the requirements and submit your details.
Once your OKash loan application has been approved, the amount you requested will be transferred into your bank account.
OKash allows a maximum period of 24 hours from the moment of a disbursement within which the loan can be cancelled.
If you have applied for the loan by mistake, please repay the principal within 24 hours, then contact their customer service at your earliest convenience to clear the loan.
Okash Loan Requirement
Before you can gain access to a loan from OKash, below are some must have requirement to secure OKash loan
1. An active phone number through which you will get your verification code.
2. National Identification Number (NIN) which can be used for your confirmation that you are a Nigeria
How To Register OKash Loan
Below is a step guide to register for Okash loan
1. Sign up with your active phone number. For Opay account users, there is no need to do another registration (since OKash is a subsidiary of Opay). Just sign in with your Opay account details.
2. Okash will send you a 6-digit verification code to your registered phone number as an SMS. Input the code to proceed.
3. The next step is to create a security code. That way, an intruder can’t borrow loans behind your back. Create a four-digit PIN code and enter it the second time to confirm.
4. The OKash loan app will ask you to grant some permissions. This includes permission to access your contacts as well as your device location. To grant those permissions, press the allow button that shows up on your phone.
Once the above step is duly completed, you will be redirected to the OKash loan dashboard.
How To Apply For OKash Loan With Your Android Device or mobile phone
Below is a step guide you can follow to apply for a loan with your Android device
1. Access your Okash loan app
2. Under your dashboard, select the loan amount you would like to apply for.
3. Fill in your personal information, and your bank details. After that, you shapplyation.
4. Once the submission is done, you may receive a call from one person at OKash management. No worries, the call is just to verify a few details.
5. The result of your application will be displayed on the APP where you can see it from your dashboard. If the loan is approved, you will also be informed by SMS.
6. Confirm the loan agreement after the approval.
7. Once you confirm the loan, the approved loan amount will be sent to the bank account you provided during registration
Does OKash Loan Require Collateral?
OKash loan requires zero collateral to acquire. You can get a minimum loan of ₦3,000, and a maximum of ₦500,000 (five hundred thousand naira) on the Mobile App.
How to Repay OKash Loan
All monies borrowed through loans are meant to be paid back. But how do you repay loans gotten from OKash?
OKash offers a flexible repayment plan. You can repay your loan within 3 months (91 days) to 12 months (365/366 days)
From your dashboard, you can navigate to the loan repayment page. Put in your account details and pay with your debit/credit card.
Late loan repayments automatically incur a rollover interest of 2% (two percent) per day. It is therefore advised that one does not exceed the repayment period. Furthermore, this could reduce your future borrowing credit score.
How Much Is OKash Loan Interest Rate?
The OKash loan service charges an interest rate of 9.1% every 3 (three) months. Below is a simplified breakdown of how the rating system works
If you borrow ₦6,000 (six thousand naira) on the OKash mobile app and you set your repayment term to be 3 months, the:
- The interest rate will be 9.1% of your loan
- The interest amount will be ₦273
- The total amount to be repaid will be ₦6,237 (six thousand two hundred and thirty seven)
How can Contact Okash loan
If you want to lay a complaint, below are mediums you can contact Okash
Their Phone number: 08097755512
Email: support @o-kash.com with your registered phone number in the subject.
Head office is located in Room 301, Japaul House, Plot 8 Dr Nurudeen Olowopopo Way, Central Business District, Ikeja, Lagos, Nigeria
Is OKash Safe?
OKash been a subsidairy of Opay offers seamless loans for small business owners who needs a financial upgrade for their business.
Considering OKash does not require collateral before issuing loans, it makes it a good company to secure loans once you meet all needed requirements
OKash is safe because you can acquire loans and repay them gradually with a low interest rate.
Conclusion: Okash Loan Requirement
OKash is one of the few companies offering loans without any collateral. I hope this guide has given you an insight into must have requirement to secure a loan from the OKash company.
Drop a comment and tell us your personal experience with OKash