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Does OPay Give Loan in 2024?

Here's everything you need to know about OPay Loan that's being disbursed via third-party provider.

Loan

The Ledger Bloc once published an article that talked about OPay and EaseMoni this year. Through EaseMoni, OPay gives out Loans to individuals and businesses that need it.

EaseMoni is the Loan service of BlueRidge Microfinance Bank Limited - a MFB company duly licenced by the Central Bank of Nigeria (CBN). EaseMoni offers personal and business Loans to individuals and cooperations.

EaseMoni provides a 24-hour window from loan disbursement to repayment. The amazing part of it is that if you mistakenly applied for a loan through any of its partner apps e.g OPay, you can easily reach out to EaseMoni customer service for loan clearance and cancellation.

The Loan service uphold a courteous loan collection process, condemning any harassment or illegal tactics. If you encounter such behavior, save evidence and contact their customer service immediately for investigation. They'll take disciplinary action if the abuse involves an EaseMoni staff member.

That's been said! Now, you should be able to understand that OPay offers loans via EaseMoni. However, EaseMoni is one of it partners which it's offering Loan services to customers, the fintech app is also offering Loan directly via OKash.

Answering The Question

Yes, OPay is still giving out Loans in 2024. However, you can only get OPay Loan through third-party providers like EaseMoni and OKash.

Even though you go through OPay App to obtain the Loan, you will be redirected to the providers's websites to download their apps and proceed with the loan application procesces.

However, it's important to note that each Loan providers have their unique Loan requiremnts (which are probably differs from each other), repayment schedule and terms and conditions governing their Loan service. Hence, it's crucial to understand these before you obtain any Loan from them.

Furthermore, it's also advisable to pass through your OPay to the Loan provider app in other for your credit history to be passed through. If you have a good credit history on OPay, it will help hasten your Loan application being approved as fast as possible.

Disbursement Amount

It's important to know that OPay does not have the supreme power over your Loan application; the loan providers have. Hence, the amount of loan you can obtain is being affected by many factors including; credit history, repayment history on other lenders apps, and many others.

However, upon Loan request, you will see the amount which you're eligible to apply for on the provider app. To increase your chances of getting higher amount, you need to build your credit history, pay any outstanding debts and repay your ongoing Loan repayment on time without defaults.

In addition, don't find it surprising if your loan applications are being rejected due to lack of Bank Verification Number (BVN). No lender in Nigeria will give you loans without collecting BVN especially if you're filing for overdraft that's usually not requiring collateral or paperwork.

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About the Author

With five years experience in Media, Temmy Samuel's become a modern journalist, delivering impressive reporting about tech, finance, business and science around the world. More About Temmy

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