Okash Loan App: Step by step guide to qualifying for Okash loans

How to get an instant Mobile loan from Okash

Okash loan app

Okash loan app is owned by Opay which also owns Opera mini and other big businesses.  It is one of the latest additions in the mobile loan apps list in Kenya.

With an upsurge of mobile finance apps in the Kenyan market today, only a few of the mobile loan apps have ended up in my bucket list of favorite apps in 2019.

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I have had the chance to borrow with most of the application and therefore I have experience with most of these apps. Among the apps in my list that have been reliable is Okash loan app.

Let it be known however that it is not my favorite app for reasons I will explain later in the article. Nevertheless, it is an app with the capability of lending you good money.

What is Okash loan app?

I stumbled upon Okash loan app on Google play store and thought it would be a good idea to try it out. Okash loan app is owned by Opay which also owns Opera mini and other big businesses.

I got my first loan with Okash on the first application that I made. For me, I gauge the reliability of a loan app based on how often they can grant you a loan.

Okash passed my test because if I was in an urgent situation, they would have helped me out.

However, while it may have its bright side, OKash has its ugly side which we will talk about later in the article.

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While I may have applied for a loan for the sake of testing the loan app, several Kenyans have been forced into borrowing from mobile loan apps by circumstances.

Mobile loan apps play a very crucial role in our society today as they grant people urgent loan to cater for emergencies.

On the flip side, some of the mobile loan apps take advantage of the same and charge monstrous interests on the loans.

How to get a loan from Okash loan app

As I mentioned earlier, Okash loan app has been one of my personal favorites.

Compared to other Mobile loan apps like Shika loan app, I found Okash to have a very user-friendly platform and their questionnaires are more reasonable and less tedious.

Okash loan app Kenya

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Here are the steps you will have to follow to qualify for a loan from Okash loan app.

Before we get into the fine details, it is important to note that being faithful with the data that you provide increases your chances of qualifying for a loan.

For that reason, make sure you do not provide misleading information when applying for an account with Okash loan app.

How to borrow from Okash loan spp

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  • First, you will have to download the app from the Google Play store
  • Install the application on your phone
  • Open the app and begin the process of signing up
  • Provide all the information you will be prompted to give including your full names, career, ID number, etc.
  • Provide your valid Safaricom line and finish up the process.
  • The app will ask for your authorization to access Maps and other important files on your phone.
  • Allow all the prompts
  • The app will calculate your loan limit
  • Apply for any amount within your loan limit
  • Choose the repayment period (Automatically set to 14 days)
  • State the purpose of your loan (choose business)
  • Open your GPS or Location
  • Apply for your loan.
  • If you qualify for a loan, it will be disbursed to you within a short time not exceeding 2 hours.

From my experience, Okash tries as much as possible to send you money within the shortest time possible.

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For the few times I have applied for a loan from Okash, the loan was disbursed to my M-Pesa account in less than 1 hour.

Advantages of Okash

  • Okash disburses the loans quickly through M-Pesa
  • Their platform is very responsive and the App refreshes almost instantly ones you repay your loan
  • You can apply for a loan immediately after repaying your previous loan
  • Their interest rate is in the reasonable bracket
  • Okash notifies you of the due loan ones the due date approaches
  • I happened to delay one of my payments on purpose to see what Okash would do but they just gave a couple of warnings instead of taking to CRB outrightly.

Disadvantages of Okash

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The one and the only challenge I have had with Okash is their short repayment period.

The time seems to expire before you know it and Okash will be all over your neck with automated phone calls and text messages.

How to repay your Okash loan

The only way to pay your Okash loan is through M-Pesa paybill: 612224

  • Open your M-Pesa menu
  • Go to Lipa na M-Pesa
  • Pick the Paybill option
  • Enter Paybill number 612224
  • Use your phone number as the account number
  • Enter the loan amount you should repay
  • Enter your pin and finish the process
  • You will receive a message from Okash confirming that your loan has been paid in full. The more you repay your loans in time the more you qualify for bigger loan limits.

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One thing I liked about Okash loan app is their generous initial loan limit compared to other mobile loan apps.

While most apps will start you off with a loan of Ksh 500, Okash started me off with Ksh 2500.

For that reason alone I would recommend the App to anyone looking to borrow a significant loan of up to Ksh 50000.

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