Established in 2015, Okash stands as a leading mobile-based lending platform, operating seamlessly in various countries, including Kenya, Nigeria, and India. Driven by a mission to provide accessible and affordable financial services, Okash harnesses innovative technology to deliver tailored loan products that cater to the unique needs of its customers.
FAQs About Okash Personal Loan
Who can apply for Okash Personal Loan?
To qualify for this loan, you must:
1. Be a Nigerian citizen.
2. Be between 20-55 years old.
3. Have a valid bank account and debit card.
4. Have a good credit history.
What documents do I need to apply for Okash Personal Loan?
1. Two Individual external guarantors with proper means of identification such as BVN, four (4) passport photographs, Identity Cards and Letter of Intent to guarantee the loan.
2. Three (3) months stamped statement of account.
3. Valid ID – Driver’s ID, National ID or International passport.
4. Utility bill (within the preceding 3 months).
5. BVN.
6. Signed post-dated cheques.
What is the maximum loan amount I can borrow?
The maximum amount you can borrow is N5 million
What is the interest rate for Okash Personal Loan?
The interest rate for this loan is 17% per month.
What are the repayment terms for Okash Personal Loan?
The repayment terms for this loan varies depending on the loan amount. However, the repayment term is typically between 1-24 months.
What are the fees associated with this loan?
There are no application fees for this loan. However, there may be late fees if you do not repay your loan on time.
How long does it take to get approved for an Okash Personal Loan?
The approval process is quick and easy. You can get approved for a loan within minutes.
Are there penalties for Okash Personal Loan defaulters?
If you are unable to repay your loan on time, you may be charged late fees.
However, the company does offer a grace period of 7 days, during which you can repay your loan without being charged any fees.
If you continue to miss payments, Okash may take further action, such as reporting your delinquency to the credit bureaus or garnishing your wages.
How long does it take for money to be disbursed after my loan is approved?
Once you are approved for a loan, the funds will be deposited into your bank account within 24-48 hours.
Is Okash a safe and reliable lender?
Okash is a registered and regulated lender in Nigeria. The company has a good reputation and has been in business for several years.
However, it is important to remember that any loan can be risky. It is important to make sure that you can afford to repay the loan before you take it out.
Benefits of taking out an Okash Personal Loan
There are several benefits to taking out an Okash loan. These include:
1. Quick approval process.
2. Competitive interest rates.
3. Flexible repayment terms.
4. No collateral required.
5. Easy application process.
How to Apply for an Okash Personal Loan on nairaCompare
1. Click ‘Okash Personal Loan’.
2. Read through the information on the product page to get more details about the product.
3. Click on ‘Apply’ to begin the application process.
4. Fill in your personal details.
5. Submit your application form for review and processing.
5. After successful review of your application, you will receive an email notification confirming your application.
If the bank approves your application, you will receive the money in your bank account within 24 hours.
Visit nairaCompare to learn more about this loan and other loans available.
