Okash is a popular digital lending platform in Kenya that provides quick and easy access to personal loans for individuals. If you have borrowed money from Okash and need to repay your loan, here is a step-by-step guide on how to do so.
Okash Loan Tenure
The tenure for Okash loan in Nigeria ranges from 91 days to 365 days. During this period, you are expected to repay your loan in full.
It is important to note that failure to repay your loan on time may lead to additional charges and fees.
How to Repay Okash Loan
Step 1: Open the Okash app on your mobile device.
Step 2: Log in to your account using your mobile phone number and PIN.
Step 3: Select “My Loans” from the main menu.
Step 4: Select the loan you want to repay and click “Repay.”
Step 5: Choose your preferred repayment method from the options provided, such as M-Pesa or Airtel Money.
Step 6: Enter the amount you want to repay and click “Next.”
Step 7: Follow the prompts to complete the repayment process.
READ ALSO: How To Generate First Bank Token Using USSD Code, Soft Token or Hardware
Account Number
Okash loans do not require an account number. When you borrow from Okash, the loan is disbursed directly to your mobile money account, such as M-Pesa or Airtel Money. Similarly, when you repay your loan, the payment is made directly from your mobile money account.
Repaying your Okash Loan
By selecting the “make a repayment” icon after signing into your Okash account, you can use the in-app direct debit option to pay back your Okash loan.
However, you can send the loan amount to Blue Ridge Microfinance Bank Ltd. if you are unable to make payments through the in-app direct debit.
Bank Name: Zenith Bank Plc
Account Name: Blue Ridge Microfinance
Account No: 1130085518.
In the remarks section, fill in your BVN or registered phone number and your full name.
Make sure you double check to confirm the account name and account number before sending your payment.
After the transfer is successful, send the transfer details to [email protected] to verify the information and change your Okash loan status.
READ ALSO: Okash Official Customer Care Whatsapp, Phone Number, Office Address, Email
Partner Bank
It is important to note that Okash loans are provided in partnership with Blue Ridge Microfinance bank. Therefore, all okash loan repayments are made to the partner bank account provided above.
Late Repayment fee
If you pay your loan late, you will automatically be charged a rollover interest of 2% per day.
It is recommended that you do not exceed the loan repayment period to avoid this additional fee.
Additionally, late payments may negatively impact your credit score for future borrowing
Conclusion
Repaying the Okash loan is necessary to prevent fees and extra charges. You can send the loan amount to the partner’s bank account or choose the direct debit option.
It’s essential to remember that Okash loans are quick cash advances that should only be used in dire situations.
READ ALSO: Okash Official Customer Care Whatsapp, Phone Number, Office Address, Email
Be the first to comment