Looking for a quick, hassle-free loan without stepping into a bank or begging a friend? You're in luck—OPay has got your back! Whether it’s an emergency, business boost, or unexpected bills, OPay makes borrowing money super easy right from your phone.
And yes, to answer the popular question: Does OPay give out loans?
Absolutely! OPay partners with trusted loan providers like Okash and EaseMoni to bring fast, collateral-free loans to users all over Nigeria. Let’s break down how it works so you can get that cash in your wallet—fast.
What Exactly is OPay?
OPay is more than just a wallet app for sending and receiving money—it’s like your all-in-one digital finance buddy. From paying bills and buying airtime to booking rides and now… borrowing money, OPay is helping Nigerians take control of their finances without stress.
Types of Loans You Can Get on OPay
-
Personal Loans:
Need some cash to handle something urgent? OPay personal loans can range from ₦5,000 up to ₦500,000 depending on your credit score. -
Business Loans (For POS Merchants):
If you run a small business or use an OPay POS machine, you might qualify for loans up to ₦5 million! It's a great way to boost your business without waiting forever.
Does OPay Give Out Loans Directly?
Not exactly. OPay acts as a platform—connecting you with trusted loan providers like:
- Okash
- EaseMoni
So when you apply, you're borrowing from these lenders via the OPay app. But don’t worry, it all happens inside the app—smooth and simple.
Who Can Apply for an OPay Loan?
You’re eligible if:
- You live in Nigeria
- You’re between 20–55 years old
- You have a working OPay account
- You’ve verified your BVN and ID card
- You have a steady source of income
How to Apply for a Loan from OPay (Step-by-Step)
Step 1: Download the OPay App
Head over to the Play Store or App Store and install the OPay app.
Step 2: Register or Log In
Create an account or log in with your phone number.
Step 3: Verify Your Identity
Link your BVN, and upload a valid ID. This helps keep everything secure.
Step 4: Go to the "Finance" Section
Click on "Finance" on the homepage, then select “Loan.”
Step 5: Choose a Loan Provider
Pick either Okash or EaseMoni, depending on your preference.
Step 6: Apply
Enter the loan amount, agree to the terms, and hit "Apply." Approval usually takes minutes to hours.
Step 7: Get Paid!
Once approved, the money is sent straight to your OPay wallet.
No Smartphone? Use the USSD Code!
Don’t have a smartphone or strong internet? No problem.
Just dial *955# on your registered line and follow the prompts to apply for a loan.
How to Repay Your Loan
- Open your OPay app
- Tap on "Loans" under the Finance tab
- Choose your active loan
- Select your repayment method (wallet, card, bank)
- Confirm and you're done!
Pro Tips for a Smooth Loan Experience
- Repay on Time: Builds your credit score and unlocks higher loan amounts.
- Know the Terms: Always read the interest rates and repayment dates.
- Avoid Loan Overload: Applying for multiple loans at once? Not a good look for your credit record.
Final Words
So, back to the question: Does OPay give out loans?
Yes, and they make it super convenient too! Whether you're dealing with a surprise expense or need capital for your hustle, OPay loans are just a few taps away.
Download the app, follow the steps, and get your loan within minutes. It’s fast, secure, and easy. No paperwork. No stress. Just you and your money—on your terms.