Cassey Tash
Lister
Okash loans are offered by Onespot Technology Investment Ltd, ranging from Sh2500 to Sh50,000 which may increase to Sh500,000 depending on a customer's credit score and payment records.
They offer loans which can be repaid after 15, 22 and 29 days with an interest rate of 15%, 17.6% and 23.2% respectively.
If a loan of Sh2500 is approved, a customer is expected to repay the amount within 15days; a loan above Sh10,000 is granted 29days of repayment.
Once your Okash loan is approved, a fee charge will be deducted from your initial loans depending with the amount offered and the duration in which the loan will be repaid. The fee charge range from 14% - 16.8%
Okash includes a late fee charge of 2% which rolls over everyday until the loan is repaid.
Requirements needed to access Okash loans
Okash will also require a user to grant them permission to access your phone camera, location, contact list, storage, calendar and text messages.
How to get an Okash loan
They offer loans which can be repaid after 15, 22 and 29 days with an interest rate of 15%, 17.6% and 23.2% respectively.
If a loan of Sh2500 is approved, a customer is expected to repay the amount within 15days; a loan above Sh10,000 is granted 29days of repayment.
Once your Okash loan is approved, a fee charge will be deducted from your initial loans depending with the amount offered and the duration in which the loan will be repaid. The fee charge range from 14% - 16.8%
Okash includes a late fee charge of 2% which rolls over everyday until the loan is repaid.
Requirements needed to access Okash loans
- National Identification number
- Smartphone - Android
- A registered Safaricom number
- Internet access
- Go to Google play store on your mobile phone
- Search 'Okash' app and install
- Once the app has fully downloaded, click on open to proceed to registration
- Fill in the provided spaces to allow for registration; that is your name, ID number and phone number
- Follow promptly the steps provided on the app and fill in all the mandatory fields
- You will receive a 4-digit confirmation code that will autofil on the app, if it doesn't, input the code manually
Okash will also require a user to grant them permission to access your phone camera, location, contact list, storage, calendar and text messages.
How to get an Okash loan
- Open the Okash loan app on your phone
- A customer's loan limit is usually displayed at the home page of the app
- Select the amount you'd like to borrow and the payment period, then select submit
- You will receive a confirmation message from Mpesa and Okash; if your application is rejected, a text message of the same will be sent
- A customer has an option to choose a period in which they can repay the loan
- Once a loan is approved, an individual receives the money within minutes
- A borrower does not need to present a guarantor, signed documents or collateral to get a loan approval
- A charge fees of between 14 - 16.8% is applied when an individual receives a loan, if you apply for Sh2500 you will receive Sh2150
- If a customer delays in paying their loans, a late fee of 2% is applied everyday until the loan is repaid
- Loans offers are at a high interest rate of between 15% - 23.2%
- If a loan is defaulted, a borrower will be subjected to several calls and/or risk being listed on CRBs
- No extension of payment period
- Go to SIM tool kit on your phone
- Select Lipa Na Mpesa, the Paybill
- Enter Okash Paybill number - 612224
- Enter your phone number as account number
- Enter your mobile money PIN number and submit