how to borrow money from opay loan

– How to Borrow Money From Opay Digital Service Limited 2024-

Are you in need of a quick loan? There are so many online loan services that offer the fastest and easiest way to access credit loans in Nigeria. This is because you do not need any collateral or guarantor.

As much as there are a lot of loan apps in Nigeria, Opay has one of the best lending servies. The app allows users access to instant loans from reliable lenders on its platform.

Whether you are looking for how to borrow money on Opay app, how to borrow money from Opay without BVN, how to get Opay loan on iPhone or Android, we have got you covered in this article.

In this article we will discuss all that you need to know on how to borrow money from Opay, you will also discover how to be eligible for the loan, how to apply, the interest rate and how to repay the loan.


Opay is a mobile app that provides online banking and financial services in Nigeria. With their app, users can access a range of financial services which includes borrowing money.

As a user on opay, you have the opportunity to save money, make free transfers and recieve funds, buy airtime, pay bills and also enjoy free daily cashback on the app.

How Does Opay Loan Services Work?

Opay is not a  stand-alone loan company. They house some loan companies that offer its users collateral-free instant loans.

With this service, users have the opportunity to access credit loans from popular Nigerian loan companies such as Easemoni and Okash. These companies offer low-interest loans online on their platform with the aid of Opay.

From our findings, we discovered that Opay no longer works with these companies but this doesn’t mean that you can’t access a loan from Opay.

It is very easy to borrow from Opay as the most important thing needed is to have an account with them. This does not remove the fact that there are more requirements.

How to Be Eligible for Opay Loan?

There are certain eligibility requirements that must be met for you to be able to borrow money from Opay. Here are the requirements:

  • You must be a Nigerian citizen.
  • You must have a registered Opay account.
  • You must have a valid Bank Verification Number (BVN).
  • You must have a valid means of identification (e.g, National ID card, driver’s license or international passport). Either will do.

As long as you meet all these requirements, then you are eligible to apply for a loan with Opay.

How to Borrow Money From Opay

Once you have confirmed your eligibility, you can simply follow these steps to get a loan from Opay.

  • Visit your google playstore or ios playstore to download the Opay App.
  • Log in to your Opay account on the mobile app.
  • Click on the “finance” tab at the bottom of the homepage.
  • Look for the “loan” option.
  • Select your favourite between Okash and Easemoni and proceed to download it.
  • As a new user, fill out the loan application form by providing accurate information about yourself, includin your name, phone number, and addres.
  • Go with yor curent limit or enter the loan amount you want to borrow.
  • Review your loan application details and click on ‘submit’.
  • Once you have submitted your loan application, it will be reviewed and you will be notified of the loan’s approval or rejection within a few minutes or hours.
  • If approved, the money will be sent to the account number you entered during your application process.
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This is how you can borrow money on Opay. it is important that you read the terms and conditions before submitting the loan application. This will enable you knoe the penaties for defaulters of loans on Opay.

Opay Loan Ussd Code

It is interesting to note that those without smartphones are not left out as they can use the Opay loan code to borrow money.

Here are the steps to use the Opay USSD code to access loans.

  • Dial *955# using the phone number you used to register with your Opay account.
  • Select the option that says “loan”.
  • Follow the promot and apply for a loan.
  • Get you loan disbursed into your account.

Opay Loan Interest Rate

The interest rates of loans used by Opay are determined by the loan service used. Easemoni loan interest rate ranges fro 5 to 20% while Okash ranges from 3 to 30%.

Remember that Opay does not determine the interest rates and they may be higher or lower depending on your credit score. Also note that failure to repay your loan when due may attract an increase in the interest rate of your loan.

How to Repay Opay Loan

After your oan has being approved, the next thought process will be repaying the loan on the due date. There are different repayment options, which includes:

Repay using your Opay balance.

As long as you have an Opay balance, you can use it to repay your loan by clicking on the ‘repay’ button on the loan details page.

Since both Easemoni and Okash are no longer on the Opay app, you can repay your laons on the apps via Opay by just transfering your loan amount to the account number provided on the oan repayment page.

Automated Direct Debit (ADD)

This feature allows users to se up automatic loan repayments using your bank account details such as aTM card or account number.

It is important to note that any delay to repay your loan on the due date can attract additional charges and this in turn will affect your credit score.

Benefits of Opay Loan

  • Fast loan disbursement: Both Easemoni and Okash process loan applications quickly and once approved, the loan is disbursed within minutes to your bank account.
  • Flexible repayment loan options: Opay offers different repayment options that works for your income flow.
  • No collateral needed: Unlike conventional banks, you don’t need any collateral for your loan to be approved.
  • Low-interest rates: Both Easemoni and Okash offer competitive interest rates.

Frequently Asked Questions

How can I borrow money from Opay?

To be able to borrow money from Opay, you need to downlaod the Opay app, create an account, and apply for a loan through the Opay Credit service which includes Okash and Easemoni.

Does Opay give loans?

Yes, Opay offers loans via third party platforms such as Okash and Easemoni.

How to borrow money from Opay without BVN?

To borrow a loan from Opay without BVN, ayou will need to create a Basic (Tier 1) account with Opay, and apply for a loan on the Opay app through Easemoni or Okash bearing in mind that you will only be eligible for a small loan amount until you link your BVN.

What is the USSD code to borrow money from Opay?

The USSD code to borrow money from Opay is *955#.

How much can I borrow on Opay?

The loan amount you can borrow is dependent on your choice of loan company, your credit score and other factors. However, you can borrow up to one million naira if you meet all the requirements.


There is no doubt that Opay is out to make the life of its users comfortable by allowing them the opportunity to access loans easily. We believe that you can now apply for a loan via Opay with all that we have written out.

Have you borrowed money from Opay before please do not hesitate to share your experience with us in the comment session.