Opay is a popular digital banking platform in Nigeria that offers various services such as airtime top-up, data purchase, bill payments, fund transfers via QR codes, and quick access to instant loans from trusted lenders through the app.
While Opay itself does not directly disburse loans, it collaborates with credible loan providers like Easemoni, and OKash to simplify the borrowing process for users.
This guide will walk you through how to borrow money from Opay, including eligibility criteria, the loan process, interest rates, Opay loan partners, and the mobile USSD code for borrowing on Android and iPhone.
What is OPay Loan Service?
OPay is a popular mobile payment platform in Nigeria that provides financial services, including instant loans. Through its loan partners like OKash and EaseMoni, OPay allows users to borrow money without collateral. These loans are accessible through the OPay app, and the application process is fast and straightforward.
No Collateral Required – Unlike traditional bank loans, OPay loans do not require collateral or a guarantor.
Fast Approval – Loan applications are processed within minutes.
Flexible Loan Amounts – Users can borrow different amounts based on their creditworthiness.
Convenient Repayment – Repay your loan directly from your OPay wallet or linked bank account.
Eligibility Criteria for Borrowing Money from OPay
Borrow Money from OPay in 2025 for iphone and Android
Before applying for a loan, you need to meet certain requirements:
Be a Nigerian citizen.
Be at least 18 years old.
Own a registered and verified Opay account.
Possess a valid Bank Verification Number (BVN).
Provide a valid means of identification (e.g., National ID card, Driver’s License, or International Passport).
How to Borrow Money from OPay
Borrowing money through OPay is a simple and efficient process designed to meet your urgent financial needs. To begin, you need to download the official OPay mobile application from either the Google Play Store if you are using an Android device, or the Apple App Store if you are on iOS. Once you have installed the app, open it and log into your account using your registered phone number and password. If you do not already have an account, you will need to create one by following the easy registration process. Ensure your profile is up-to-date by adding necessary information such as your Bank Verification Number (BVN), valid identification, and other personal details.
After logging in, navigate to the Finance section found in the app’s main menu. Within this section, select the Loan option to start your application. OPay partners with reputable digital lenders such as OKash and EaseMoni to provide loan services. You will be asked to choose your preferred loan partner, and if you have not yet installed their app, you will be redirected to download it from your app store.
Once you have downloaded the loan partner’s app, open it and fill out the loan application form carefully. It is important to provide accurate and up-to-date information including your full name, employment details, contact information, and bank account details. Correct information increases your chances of getting approved quickly without delays. You will then be prompted to indicate the amount of money you wish to borrow based on your eligibility and financial need.
Before submitting, make sure you review all your entries for any errors. After confirming that everything is accurate, submit your application for review. The loan provider will assess your application and notify you of the approval status. If approved, the loan amount will be credited directly to your bank account or OPay wallet, depending on the lender’s payment method.
How to borrow money from opay on iphone
For iPhone users, the process is equally straightforward. Download the OPay app from the App Store, open the app, select your preferred lending service, provide the necessary details such as your mobile number and email address, then submit your application and wait for approval.
If you are using an Android device, simply visit the Google Play Store, download and install the OPay app, launch it, and choose a loan partner to proceed with your application. Provide your personal information and submit your application. Approval notifications are typically fast, often within minutes.
Borrowing through OPay is fast, secure, and user-friendly, making it an excellent option for individuals seeking quick financial support. However, it is essential to borrow responsibly, keeping in mind the repayment terms to avoid penalties or credit issues in the future.
Interest rates on loans obtained via OPay vary based on the chosen third-party lender. Easimoni, for instance, offers rates ranging between 5% and 20%, while Okash interest rates can vary between 3% and 30%. Factors such as your credit score and repayment history may influence the final rate offered. Late repayments typically attract additional penalties, so it is important to repay on time to maintain a good credit standing.
For users without access to smartphones or stable internet connections, OPay provides a USSD service for loan applications. To use this service, you must already have an account with one of OPay’s loan partners, such as Easimoni or Okash. Simply dial *955# on your mobile device, select the loan option, and follow the on-screen prompts to complete your loan application.
Benefits of OPay Loans
Borrowing through OPay comes with numerous advantages including:
Fast loan approval and disbursement within minutes.
Flexible repayment plans tailored to user income patterns.
No collateral requirement for loan access.
Competitive interest rates from trusted loan partners.
How to Repay Your OPay Loan
Repaying your loan is easy and can be done in the following ways:
1. Automatic Deduction
Ensure you have enough funds in your OPay wallet or linked bank account, and the system will automatically deduct the loan repayment when due.
You can also manually repay your loan through the loan provider’s app by following these steps:
Open OKash or EaseMoni.
Navigate to the repayment section.
Choose your preferred payment method (OPay wallet or bank transfer).
Confirm the payment.
💡 Tip: Pay your loan on time to avoid penalties and increase your borrowing limit.
Pros and Cons of Borrowing Money from OPay
Pros
✔ Quick and easy loan approval ✔ No collateral or paperwork required ✔ Flexible loan amounts and repayment periods ✔ Loans are available anytime, anywhere
Cons
High-interest rates compared to traditional banks
Short repayment period
Late payment attracts penalties
Tips for Responsible Borrowing
To avoid financial stress, follow these responsible borrowing tips:
Borrow only what you need – Don’t take loans beyond your repayment ability.
Read loan terms carefully – Understand interest rates and penalties.
Make timely repayments – Avoid late fees and maintain a good credit score.
Use loans wisely – Spend borrowed money on essentials like business, health, or emergencies.
FAQs About Borrowing Money from OPay
Can I Borrow Money from OPay?
Yes, you can borrow money through the OPay app. Simply select the loan option, register with a loan service like Okash or Easimoni, accept the terms and conditions, and submit your personal details to find out how much you are eligible for.
Can I Borrow Money Directly from My OPay Account?
Yes, through the OPay app’s finance section, users can initiate a loan application by selecting a third-party loan service and following the provided instructions.
Does OPay Provide Loans?
While OPay itself does not disburse loans, it facilitates access to loans via third-party services like Easimoni and Okash, ensuring a seamless borrowing experience for its users.
What is the USSD Code for OPay Loans?
The USSD code to borrow money via OPay is *955#. Simply dial the code and follow the instructions to apply for a loan. Please note that to access loan services via USSD, you must have an existing account with OPay or its loan partners, such as OKash or EaseMoni. Ensure you meet all eligibility criteria and understand the terms and conditions before applying for a loan.
How Can I Borrow Money from OPay Without a BVN?
Initially, you can open a basic (Tier 1) OPay account without a BVN. However, linking your BVN is often required later to access higher loan amounts through services like Easimoni or Okash.
Are OPay and Okash the Same?
No, they are not the same. Okash is a third-party lending service integrated with OPay’s platform to provide loans to users. OPay acts as a facilitator between borrowers and loan providers.
How Much Can I Borrow from OPay as a First-Time User?
The initial loan amount varies based on the lending partner’s assessment of your credit profile. Some users may qualify for amounts up to one million naira, depending on their eligibility.
How to Borrow Money from OPay Using USSD?
To borrow via USSD, dial *955#, select the loan option, and follow the prompts to apply for a loan without needing internet access.
How much can I borrow from OPay?
The loan amount depends on your creditworthiness. First-time borrowers may start with ₦3,000 – ₦50,000, while returning customers can access up to ₦1,000,000.
How long does it take to get a loan from OPay?
Once your loan application is approved, funds are disbursed within minutes to your OPay wallet or bank account.
What happens if I don’t repay my loan on time?
Failure to repay on time attracts late payment penalties and affects your ability to get future loans. It may also impact your credit score.
Yes, borrowing through OPay’s loan partners (OKash & EaseMoni) is safe. However, ensure you read loan terms carefully before applying.
To borrow money from OPay using the USSD code, follow these steps:
Dial the USSD Code: From the mobile number registered with your OPay account, dial *955#.
Select the Loan Option: From the menu that appears, choose the “Loan” option.
Follow the Prompts: Provide the necessary information as prompted to complete your loan application.
Receive Funds: If approved, the loan amount will be disbursed directly into your OPay wallet.
Conclusion
Now that you know how to borrow money from OPay, you can easily apply for a loan whenever you need quick cash. OPay loans are fast and convenient, but always borrow responsibly. Understand the repayment terms, pay back on time, and use the loan wisely.
Would you like to get started? Download the OPay app today and access instant loans!
