Okash Loan is Legit But They Disturb Customers with Calls and Others Problems [Review]

When taking a loan, you will look at the loan limit, interest rate, and repayment tenure. But one more thing you should consider is disturbance. In this review, we will scrutinize Okash loan so you know if this app is legit or a scam, and some of its major problems.

Okash loan is owned by Blue Ridge Microfinance Bank Limited. It is a licensed Microfinance Bank (MFB) by the CBN (Central Bank of Nigeria) fully approved by the FCCPC (Federal Competition and Consumer Protection Commission). The address is 77, Opebi Road, Ikeja, Lagos, Nigeria. The website of this loan app is ng.o-kash.com.

Is Okash Loan Legit App?

Okash is licensed by the CBN and fully approved by the FCCPC. The major problem with Okash is that they disturb people with phone calls, which quickly turn into spam, even if you have not borrowed money from them. Okash can call you multiple times in one day to advertise free loan coupons and other freebies.

Blueridge Microfinance Bank (brmfbank.com) also owns EaseMoni loan. The interest rate is typically 40 to 50%, which is considered high. This rate can go up if you do not have a good credit history. The rate is also different for different borrowers depending on your creditworthiness.

An example is that if you borrow 10k, you have to pay back 15k. If you borrow 90,000 naira, you would be paying back an additional 37,000 naira in interest, making your final repayment amount 127k. If you borrow 30,000, you have to repay about 43,000. Also, Okash does not have the option to choose how much you want to borrow. You might apply for a certain amount, but then get something different. That’s more like forcing a loan offer, including the repayment plan on a borrower. The advantage Okash has over many loan apps is that you have 30 days of tenure and not 7 days to pay back.

Okash also has the habit of constantly sending messages a few days before the due date to remind borrowers. These messages can be very annoying. If you default on your loan, you will pay a daily penalty fee. No, Okash doesn’t give a grace period.

Like most of the loan apps, Okash doesn’t tend to give more money on your next application after repaying your old loans. However, according to Okash, you will be eligible for a higher loan limit as you borrow more and repay earlier. The explanation could be that they run out of cash for disbursement. So, if you repay a loan early, don’t think that your next loan limit will increase. Instead, Okash might reduce it.

As for how long it takes for Okash to disburse a loan, it’s different for different people, but their disbursement is typically fast. Yours might be instant, but another person’s application might take longer.

The part you won’t like about Okash is that they call debtors. If you owe, expect a phone call from one of its customer agents. Unfortunately, you might not have a good experience during that call.

If you download Okash app, and take a loan but find the offer annoying, sending the money back to Okash does not cancel that loan. Don’t bother deleting the app but your loan will continue to count. Instead, reach out to customer service to cancel the loan from their end. It might be tough to finally have someone attend to you, but it’s the best thing to do to avoid the penalty that comes with not paying back your loan, including damaging your credit history.

Again, the biggest problem with signing up on Okash is that you will receive calls from them. The main difference between Okash and most loan sharks is that it gives you 30 days to pay back instead of 7 days.

How Does Okash Loan Work?

Okash has a loan limit of 3,000 naira and up to 1 million naira. Last I reached to their customer care, they said the limit is 500,000 naira. The higher your credit score, the more money you can qualify for, but it seems as if Okash system randomly selects people for certain amounts based on the availability of funds. When borrowing in the app, your Repayment amount will be shown to you.

As we said earlier, the loan duration is a month. You should check out my other list of loan apps that have a one month tenure. Okash won’t just lend you 1 million naira simply because it’s their promise. Unfortunately, the more money you borrow from Okash does not mean your next loan will be higher. It could become smaller or nothing at all despite not owing.

How to Use Okash App

  1. Download the Okash app from the Google Play Store or Apple App Store
  2. Open an account with your personal and bank information
  3. Submit your registration information
  4. Apply for a loan

If your loan is approved, the money will be credited to your bank account. As for the eligibility, you have to be at least 20 years old or up to 55 years old.

Pros and Cons


  • Available on Google Play Store
  • Licensed by the CBN as a Microfinance Bank
  • Fully approved by the FCCPC
  • Has a CAC (Corporate Affairs Commission) profile
  • Easy loan application and faster disbursement


  • Not available on the Apple App Store
  • Does not have a web app, so you have to install the app to access loans
  • Disturbs people with phone calls to borrow from their app
  • Calls customers who default
  • Extremely high interest rates
  • A microfinance bank operating a loan shark
  • Poor customer service agents
  • No grace period
  • Won’t allow you to select your loan amount

Is Your Personal and Bank Data Safe with Okash?

Blue Ridge Microfinance Bank Limited has had complaints about customer data abuse. They don’t call borrowers’ contacts or digitally harass customers who default, but their customer support agents can be rude. You can trust this loan app with your personal and bank information.

Okash is one of the apps the Nigerian government has raided over consumer rights abuse, specifically privacy violations. TheCable reported this in 2022.

Personal information collected by Okash may include your name, age, email address, phone number, personal description, selfie, username, NIN, and home address (such as utility bill). Bank information collected by Okash includes BVN (bank verification number), debit/credit card number, and bank account number.

When you install the Okash app, information collected from your device, either with your permission or no permission, includes your installed apps, device ID, device type, IMEI, GPS information, device operating system, IP address, personal contact numbers, call logs, SMS logs, Facebook friends and other social media accounts, photos, and videos or other digital content.


It’s an easy loan app to get money from and fast when they have the funds available, but Okash disturbs a lot. Otherwise, it’s a very good loan app. In this review, Okash gets a 3.5 out of 5 rating because while this app is very good, the interest rate is high, they disturb people with calls to apply for a loan, and have poor, unprofessional customer service agents.

Read Also: Z Cash Loan NOT on the FCCPC List

Leave a Reply