Okash Loan Terms and Conditions

Okash is a popular loan service available on the Google Play Store, boasting over one million downloads and an impressive 4.0 feedback rating. The platform allows users, whether individuals or OPay Agents, to borrow small amounts over short periods without the need for a guarantor, collateral, or in-person meetings. The service is operated by Blue Ridge Microfinance Bank Ltd., and users are required to adhere to specific Terms of Service (Terms) to access the loan facility.


Important Note:

It is crucial to read and understand the Okash loan terms and conditions before applying for a loan or downloading the app. This guide will provide a clear overview of the terms to help users make informed decisions.

Key Points from Okash Loan Terms and Conditions

  1. Contractual Agreement: By using the Okash service, users enter into a contract with the platform, implying their acceptance of the stated Terms. Users must be at least 18 years old to use the service.
  2. Privacy Policy: To use the service, users must authorize the collection and use of their personal information, as outlined in the attached Privacy Policy.
  3. Accuracy of Information: Users must provide accurate and complete information about themselves, including details of their emergency contact. They are responsible for keeping this information up to date.
  4. Information Verification: Okash may conduct information verification checks, and users consent to the sharing of their data with verification suppliers and third parties for this purpose.
  5. Account Security: Users are responsible for maintaining the confidentiality of their account credentials. Unauthorized use of an account must be reported immediately.
  6. Loan Fee: Okash charges a fee on top of the borrowed amount. The interest payable is stated at the time of loan application.
  7. Repayment and Rollover: Users must repay the loan and interest by the specified due date. Failure to do so may result in a rollover period with an additional fee.
  8. Default Consequences: Defaulting on loan repayment may lead to credit bureau reporting and additional costs.
  9. OPay Agent Loans: Special terms apply to loans provided to registered OPay Agents.
  10. Mandate for Debit: Users grant Okash authorization to debit their registered accounts for loan repayments.
  11. Communication and Contacts: Okash may contact users via text message or email, and users agree to receive service-related messages.
  12. Usage Rights: Users are granted a limited, non-transferable license to use the Okash service.
  13. Service Discontinuation: Okash may terminate or discontinue the service at any time, with or without notice.
  14. Legally Permitted Use of Service: Users must comply with laws and regulations and refrain from engaging in unlawful activities.
  15. No Warranties: Okash provides the service “as is” without warranties or guarantees.
  16. Limitation of Liability: Okash and its suppliers are not liable for any damages incurred by users.
  17. Governing Law and Arbitration: The contract is subject to Nigerian laws, and disputes may be resolved through arbitration in Lagos.
  18. Modification of Terms: Okash reserves the right to modify the Terms without notice.


Understanding the Okash loan terms and conditions is essential before using the service. By being aware of the rules and guidelines, users can make informed decisions about their loan applications and ensure a smooth borrowing experience. Always read and familiarize yourself with the terms to avoid any potential issues in the future.

Leave a Reply

Your email address will not be published. Required fields are marked *