How to Get a Loan From Opay: An Easy Guide!

Apart from accessing financial services through Opay, users of the platform can also get loans through the platform with the assistance of their partnering companies (Easemoni and Okash).

With Opay, you can get an instant loan within two minutes if you meet the eligibility criteria with a good credit score. To get a loan from this platform, you will need to meet certain requirements. 

Meanwhile, the borrower’s credit limit and the loan’s interest rate vary depending on their creditworthiness and the loan term chosen.

Overview of Opay Loan 

How to Get a Loan From Opay

Opay is an online financial solution company that offers different financial services, like loans, to its users. The Opay loan is unsecured, which means you can access it without collateral. This fintech company claims to offer loans with a competitive interest rate.

While in the recent past, Opay worked with subsidiaries like Okash and Easemoni to offer their loans, our current findings show that Opay no longer works in collaboration with these companies, but that doesn’t mean that Opay won’t give out loans again. 

Although applying for the Opay loan is seamless, you will need to have an Opay account and meet other criteria before you can take loans from the company. 

Opay Loan Requirements

To get a loan from Opay, you will need to meet certain eligibility criteria. The requirements are:

  • Must be resident in Nigeria
  • The applicant must have functional Opay account
  • BVN is also a must
  • Valid means of identification, like a voter’s card, national ID, etc., are also needed.
  • You may also need to upload your recent passport for verification.

After going through the requirements and proving you’re qualified, you can proceed to the next section to apply for the loan.

Opay Loan Application Process

To access a loan from Opay, follow the steps below:

  1. Go to the official app store (Google Play Store or Apple Store) to download the app if you don’t have it. If you have the Opay app, skip this step.
  2. At the bottom of the homepage, tap on the ‘’Finance’’ option
  3. Search for the ‘’Loan’’ tab and click on it.
  4. Choose your preferred company between Easemoni and Okash
  5. You may be required to download the Okash or Easemoni app. Or better yet, you will just update your Opay app and you’re good to go.
  6. Complete the loan application form by inputting the required details, like contact name, contact number, etc.
  7. Wait for your credit limit and choose the loan amount that best suits you.
  8. Go through the application form; if everything is correct, then tap on the submit tab.
  9. Wait patiently for a few minutes for your loan application to be reviewed.
  10. If your loan request is granted, then the loan amount will be disbursed to your Opay account. 


  • Go through their loan terms and conditions before opting for the services.
  • The credit limit varies from one borrower to another.
  • The loan interest rate is not fixed; it varies depending on your creditworthiness and credit score.

Opay Loan Code

If you don’t have a smartphone but you want to borrow money from Opay, you will need to use their  USSD code to get the loan. To access an Opay loan with their USSD code, follow the procedures below:

  1. On the phone number that is linked to Opay account, dial *955#.
  2. Choose the ‘’Loan’’ option.
  3. Carefully follow the onscreen instructions to complete the loan application.
  4. After the loan application, wait for the review of your application
  5. If approved, the loan amount will be disbursed to your Opay account.

Opay Loan Interest Rate

As with other lending platforms, Opay loans come with an interest rate. The Opay loan  interest rate is not fixed.

If you opt for the lending services of Easemoni, their interest rate ranges from 5% to 20%. However, if you choose Okash, their interest rate is between 3% and 30%. So, the choice is yours to make.

Meanwhile, it is important  to note that this loan interest rate is not determined by Opay; it is determined by Okash and Easemoni.

Opay Loan Repayment Process

Once your loan term elapses, you will be required to pay off your loan along with the accrued interest. Interestingly, there are two different methods that you can use to repay an Opay loan. They are:

Via Opay Balance

One of the easiest ways to repay your Opay loan is through the use of the balance in your account. 

How it works is that on or before the loan repayment due date, you will fund your Opay account to enable you to repay your loan.

Once you have enough balance that is up to the loan amount you borrowed, you will need to go to the loan section of the app and click on the ‘’’Repay’’ tab to pay your loan. Once you click on the tab on the repayment page, you will be provided with the account number that you can use to transfer the money to, and that’s all.

Via Automatic Debiting

Another measure that you can use to repay your Opay loan is an automated process. This is possible because there is a special feature on the Opay platform that allows borrowers to automatically repay their loan when they add the required details.

If you add your debit card details to your Opay account, the loan amount will automatically be debited from your ATM card on the due date. Hence, there is no need to bother yourself about how to repay it since it will be done automatically. 

Meanwhile, it is important to repay your loan on time to avoid penalties associated with late payments.


  • Nwibo Calistus

    My name is Calistus. I am a seasoned financial expert with over four years of experience in the financial sector. With a background in accounting and financial management. Throughout my career, I have demonstrated a commitment to empowering individuals and businesses to make informed financial decisions. I am passionate about simplifying complex financial concepts. Which is evident in my published articles that are characterized by clarity, depth, and practicality. In addition to writing, I am also a financial adviser and a consultant. I have been invited to different industry conferences and events where I shared expertise and guidance on financial management and how to scale up businesses. So, if you need writing, speaking engagements, or consulting work, I remain committed to empowering individuals and businesses to achieve financial success and security.

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