Lending in the OPay ecosystem is provided by OPay Microfinance Bank, mainly through its OKash loan service. OKash lends ₦2,000 to ₦3,000,000 over about 90 days to 12 months, at an APR it states is under 36%.
Not every OPay user sees a loan option, and whether you get an offer depends on your verification, how you use OPay and your credit record.
How OPay loans work
OPay itself is a payments app. The loans are issued by OPay Microfinance Bank Limited, which is licensed by the Central Bank of Nigeria (CBN), and the OKash listing names it as the lender. You may find a loan option inside the OPay app, or be directed to the separate OKash app.
OPay lending in 2026: Loans now lead the business
Lending is now OPay’s biggest source of income, ahead of payments. That was disclosed in its October 2026 F-1 filing for a planned New York Stock Exchange listing.
OPay is used by about 50 million people a month. Its amended SEC filing of 23 October 2026 shows it planned to raise up to $336 million by selling 16 million shares at $19 to $21 each.
| OPay figure (first half of 2026) | Value |
|---|---|
| Revenue | $467 million, up 137% |
| Net income | $91 million, up more than 300% |
| Share of revenue earned in Nigeria | Nearly 90% |
| Valuation at top of IPO price range | About $4.42 billion |
OPay was also named digital bank and financial inclusion leader at the BusinessDay BAFI Awards 2026. For how OPay compares with other Nigerian fintechs on growth strategy, see Condia’s Nigerian Fintech Strategy Map.
What this means for borrowers: lending is now central to OPay’s growth, so expect loan offers to feature more prominently in the app. A bigger push to lend does not change your costs, though. Always check the total repayment on your own offer.
OPay loan amount, interest and tenure
| Detail | What OKash and OPay publish |
|---|---|
| Loan amount | ₦2,000 to ₦3,000,000 |
| Tenure | 91 to 365 days |
| Interest | Calculated daily; APR under 36% |
| Collateral | None; no deposit or guarantor |
| Example | ₦3,000 over 91 days: ₦273 interest, ₦3,273 total |
The ₦3,000,000 figure is a ceiling. First-time borrowers receive much smaller offers, and limits can grow after on-time repayments.
How to get a loan from OPay
- Download or update the OPay app from Google Play or the App Store.
- Make sure your BVN and NIN are linked and your account is verified.
- On the home screen or under services, look for a Loan, Borrow or Credit option. Check “More” if you do not see any of these.
- If you are directed to OKash, install it from the official store.
- Choose an amount within the limit shown and a term if offered.
- Read the offer: amount received, interest, fees, total repayable, due date and the lender’s name.
- Sign the agreement only if you can repay on time. OKash may call you to verify before approval.
OPay loan requirements
The OKash listing gives these basic requirements:
- Resident in Nigeria
- Aged 20 to 55
- A monthly source of income
A verified OPay account with regular transactions improves your chances and OPay does not publish its approval criteria.
Why there is no loan option on your OPay app
If you do not have a loan option on your OPay app, some common reasons include limited account history, incomplete BVN or NIN verification, unpaid loans elsewhere, or account restrictions. Update the app and keep using your account normally.
How to repay an OPay loan
Repayment terms are in your loan agreement. Repayments are typically taken from your balance on the due date, so keep enough money in the account. Late repayment adds charges and can affect your credit record.
OPay loan scams
OPay and OKash loans are offered only inside the official apps. Anyone who calls or messages asking for a fee, your PIN or your OTP to “approve” an OPay loan is a scammer. Report them through the app.
Which loan app gives ₦50,000 instantly?
No legitimate loan app guarantees ₦50,000 instantly to a first-time borrower except in rare cases. Every licensed lender sets your limit from your profile, and first offers are usually smaller. You can reach ₦50,000 or more after a few on-time repayments.
These approved apps publish maximum limits well above ₦50,000 (compare more in our best loan apps in Nigeria guide):
| Loan app | Published maximum | Note |
|---|---|---|
| OKash (OPay MFB) | ₦3,000,000 | APR under 36% |
| FairMoney | ₦3,000,000 | CBN-licensed microfinance bank |
| Branch | ₦500,000 | 3%–23% monthly |
Which loan app gives ₦20,000 instantly?
₦20,000 sits within the starting range of most approved apps, so it is a realistic first loan. Your chance is higher if your BVN is verified and you have a regular income.
Which loan app gives ₦100k or ₦200k instantly?
₦100,000 to ₦200,000 is normally offered to repeat borrowers with a good repayment record. If you need that much now, a bank personal loan or salary advance may approve a larger amount at a lower rate, though it takes longer.
Warning: “guaranteed instant loan” ads
Ads promising ₦50,000 or ₦200,000 instantly with no checks are often scams or unapproved apps. Check the lender on the FCCPC register, refuse any upfront fee, and never share your OTP. See our guide to the best loan apps in Nigeria for how to check a loan app or browse Condia’s list of FCCPC-approved loan apps.
Frequently asked questions
Does OPay give loans?
Yes. Loans in the OPay ecosystem are provided by OPay Microfinance Bank, mainly through OKash, to eligible users.
How much can I borrow from OPay the first time?
OKash lists ₦2,000 to ₦3,000,000, but first-time offers are much smaller. Your limit shows in the app after assessment.
What is the OPay loan interest rate?
Interest is calculated daily, and OKash and OPay state an APR of up to 36% a year. Your exact charge appears on your offer.
Why can’t I see the loan option on OPay?
You have not been made an offer yet. Update the app, complete BVN and NIN verification, and keep using your account regularly.
Can I get an OPay loan without BVN?
Verified identity is part of the assessment, so expect to need your BVN. See our guide to loan apps without BVN for what is possible.
Does Moniepoint give personal loans?
Yes, to personal account holders whose account has been active and used consistently for at least six months.
Which loan app gives ₦50,000 instantly without collateral?
Approved apps such as OKash, FairMoney and Branch lend without collateral, but none guarantees ₦50,000 to a new borrower.
Last updated: November 5, 2026
