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How to Borrow Money From Opay App Without BVN and Collateral: A Step-by-Step Guide

How to borrow money from Opay

Good day! Do you want to borrow money quickly and easily? If you’re nodding your head right now, I am pleased to inform you that you are in the right place. I’m going to walk you through the process of borrowing money through the Opay app in this blog article in just a few easy steps. Let’s get started.

In Nigeria, Opay is a well-known mobile payment app that provides different financial services, including loans. You can utilize the Opay loan, which has a short period, to pay for unforeseen needs like school fees, sort out some other domestic needs, or pay off debt. You can obtain loan approval in a matter of minutes after completing the quick and simple application process.

Before we go into the steps of borrowing money from Opay App, it’s important to understand the various loan options they offer. These loans include; 

1. Opay Quick Loan: This loan option allows users to borrow money instantly, without any collateral or paperwork. The loan amount ranges from ₦1,500 to ₦500,000, with a repayment period of up to 60 days.

2. Opay OKash Loan: OKash is a micro-lending platform integrated into the Opay App. It provides small loans to individuals with flexible repayment options. OKash loan amounts range from ₦10,000 to ₦50,000, with interest rates varying based on the repayment period.

How to Borrow Money From Opay App Without BVN and Collateral


Now that we have a basic understanding of Opay’s loan offerings, let’s explore the step-by-step process of borrowing money from Opay App easily.

Step 1: Download and Install Opay App

To begin, ensure that you have the Opay App installed on your mobile device. Visit the official app store of your device’s operating system (Android or iOS) and search for “Opay.” Download and install the app.

Step 2: Account Registration

Open the Opay App and proceed to register for an account. Provide the required details, including your full name, phone number, email address, and any additional information requested. Follow the prompts to verify your account through the verification code sent to your registered phone number.

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Step 3: KYC (Know Your Customer) Verification

To access loan services on Opay App, complete the KYC verification process. This involves providing additional information, such as your date of birth, address, and valid identification documents. Follow the instructions in the app to submit the necessary documents for verification.

Step 4: Loan Application

Once your account is verified, log in to the Opay App. Locate the loan section within the app, which may be labeled as “Loans” or “Borrow Money.” Select the loan product that suits your needs, such as Opay Quick Loan or Opay OKash Loan.

Step 5: Loan Amount and Repayment Term Selection

Choose the desired loan amount and repayment term within the limits specified for the selected loan product. Ensure that you carefully review the interest rates and associated fees before proceeding.

Step 6: Application Submission and Approval

Provide any additional information required for the loan application, such as your employment details or source of income. Double-check the provided information for accuracy and submit your loan application.

Step 7: Disbursement of Funds

Once your loan application is approved, the funds will be disbursed directly into your Opay wallet or linked bank account. You can access the borrowed money immediately and utilize it for your financial needs.


Borrowing money from Opay app is like a breath of fresh air. It’s quick, easy, and convenient. Just like a cool breeze on a hot day, Opay loans can provide you with the financial relief you need when you need it most.

But be careful not to take too much air in. Just like too much oxygen can be dangerous, taking out too large of a loan can be overwhelming, funny right? Make sure you only borrow what you need and can afford to repay.

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What is the USSD code to borrow money from Opay?

The USSD code to borrow money from Opay is *955#.

Can you borrow money in Opay for the first time?

Yes, you can borrow money in Opay for the first time. The maximum amount you can borrow for your first loan is 50,000 Naira. The interest rate for first-time loans is 1% per day. You will have to repay your loan within 7 days.

How do I qualify for a loan on Opay?

To qualify for a loan on Opay, you will need to meet the following requirements:

  1. Be a Nigerian resident.
  2. Be between the ages of 20 and 55 years old.
  3. Have a valid ID card.
  4. Have a BVN number.
  5. Have a source of monthly income.
  6. Have a good credit history.

What is the difference between Okash and Opay?

Okash and Opay are two different companies, even though they are both owned by Opera Group. Okash is a microfinance bank that offers short-term loans to Nigerians, while Opay is a mobile money platform that offers a variety of financial services, including payments, transfers, and loans.

How can I get free money on OPay?

There are many ways to get free money on OPay. Some of them include;

Referral bonus: You can get a referral bonus by inviting your friends and family to sign up for OPay. Once they sign up and make a qualifying transaction, you will both receive a bonus.

Sign-up bonus: OPay sometimes offers sign-up bonuses to new users. These bonuses can vary in amount, but they are usually a small amount of money.

Loyalty rewards: OPay offers a loyalty rewards program that allows you to earn points for every transaction you make. These points can be redeemed for free money or other rewards. It’s called cash back 

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