The rise of digital lending in Nigeria has made getting financial help easier for people who need quick loans without going to a physical bank. But while many loan apps are making the process simple, users must always be careful and know which ones are safe, regulated, and easy to repay without hidden issues.
OKash is one of the most popular names you’ll see when you check the Play Store for “loan apps in Nigeria.” Many people already use it daily, and others are still unsure if it’s safe.
After our full research and app testing with past users, we’ve put together this full OKash loan review to help you understand how it works, what users are saying, and whether it’s really good for borrowing.
About OKash Loan App
OKash is a digital loan platform operated by Blue Ridge Microfinance Bank Limited, a financial institution fully licensed by the Central Bank of Nigeria (CBN).
The app was launched in 2019 and has grown fast, with over 10 million downloads, surpassing the likes of Renmoney, Alend and SilkLoan on the Google Play Store as of 2025.
The app is known for being simple, fast, and completely paperless. Loan approvals happen within minutes once you complete your registration. The disbursed funds are usually sent directly to your OPay account or the bank account you linked during registration.
Main Features of the OKash Loan App
- Loan Amount: ₦3,000 – ₦2,000,000
- Tenure: 91–365 days
- Interest Rate: 3% – 15% monthly (APR 36.5% – 360%)
- Disbursement: Directly to OPay or linked bank account
- Repayment: Only through the OKash app (no personal accounts)
- Operating License: Blue Ridge Microfinance Bank, approved by CBN
- Support Channels: okash@blueridgemfb.com / 02018884549 / 07001235051
How to Apply for a Loan on OKash
Applying for a loan on OKash is fully digital. Here’s how to do it correctly:
- Log in to your OKash app.
- Tap on “Get Funds” or “Apply for Loan.”
- Choose your preferred loan amount and tenure.
- Review the interest rate and total repayment amount.
- Submit your application and wait for a short verification call.
- Once approved, the money is sent to your OPay or bank account immediately.
Who Can Apply for an OKash Loan?
- Nigerian resident (age 20–55 years)
- Must have a monthly income source
- Must own a bank account or OPay wallet
- Have an active phone number and valid ID
- First-time users may need to allow SMS and contact access for credit scoring.
OKash Loan Repayment Process
Repayment is easy and done directly in the app. You can repay before or on the due date.
How to repay an OKash loan:
- Open the OKash app and go to “Repayment.”
- Select your active loan.
- Tap “Pay Now” and choose a payment method (card or account).
- Confirm payment—the app updates your balance immediately.
Fair warning: OKash automatically debits your linked card on your due date.
If you’ve already paid manually, ensure your card still has enough balance to avoid double charges.
Is OKash Legit or a Scam (2025 Review)?
OKash Loan App is Legit, Fully Licensed by the CBN.
OKash is a verified financial product from Blue Ridge Microfinance Bank and not a scam.
They follow CBN guidelines, and funds are NDIC-insured.
However, like every loan app, users must understand the terms clearly.
Complaints mostly come from those who missed repayment or ignored due-date messages.
User Review Summary:
- Speed: Excellent—funds disbursed in minutes.
- App experience: Smooth interface and instant OTPs.
- Complaints: High interest for long tenures, strict repayment reminders.
- Rating: 4.5★ on the Play Store (10M+ downloads).
If you use the app responsibly, it’s one of the most reliable short-term loan platforms in Nigeria.
Common Complaints About OKash (2025)
- High Interest for New Users – First-time borrowers get small amounts at higher rates, but limits and rates improve after 2–3 successful repayments.
- Frequent Reminders – Users get daily SMS reminders before the due date. It’s not harassment, but OKash is firm on timely payment.
- Auto Debit Confusion – Some users pay manually and still get debited again. Always confirm your active payment status inside the app.
- No Phone Call Support Delay – Email replies are usually faster than phone lines.
- Strict Credit Access—If you default, it may take up to 60 days before you can borrow again.
OKash Loan Advantages
- Licensed and monitored by the CBN.
- No collateral or guarantor required.
- 24/7 fully online service.
- High loan limit up to ₦2,000,000.
- Fast approval and disbursement.
- Direct link with OPay, making transfers easier.
OKash Loan Disadvantages
- High interest rate for first-time users.
- Late payment attracts daily charges.
- Customer care can be slow at peak times.
- Requires access to phone permissions for scoring.
FAQs
1. Is OKash approved by the CBN?
Yes. OKash is owned by Blue Ridge Microfinance Bank, licensed by the Central Bank of Nigeria.
2. How much can I borrow on OKash?
You can borrow between ₦3,000 and ₦2,000,000, depending on your credit score.
3. Can I get an OKash loan without BVN?
Sometimes yes, but BVN gives faster approval and higher limits.
4. What happens if I don’t pay my OKash loan?
Late payment leads to extra interest and your BVN being blacklisted on credit bureaus.
5. How can I contact OKash?
📧 Email: okash@blueridgemfb.com
☎️ Phone: 02018884549 / 07001235051
🏢 Address: No. 77 Opebi Road, Ikeja, Lagos, Nigeria
Conclusion
OKash has built a strong name in Nigeria’s digital lending space. It’s licensed, transparent, and fast when you follow the right process.
The app is safe for borrowing, but users should always understand that every quick loan app comes with short repayment periods and daily interest.
If you’re disciplined with repayment and only borrow what you can manage, OKash is a good choice for short-term financial needs in 2025.
However, if you prefer lower rates or longer tenures, check other CBN-approved microfinance banks like FairMoney or Renmoney.
