OPay Loan: How Much Can I Borrow For The First Time

OKash: OPay Loan

Getting a loan from OPay is a simple task to process as a first timer. Also, the amount of loan OPay can disburse into your bank account depends on a number of factors including: your financial credit score, your monthly income, and your repayment history with other lenders.

OPay is one of the leading licensed mobile money operators in Nigeria. The fintech app offer various type of banking services including loans to its customers. As a first-time borrower, you can expect to get a loan disbursement of up to N50,000 from OPay. However, if you have a good credit score and a steady monthly income, you may be eligible for a higher loan amount.

However, to get the 50K loan as a first time borrower, you’ll have to download the OPay app from your app store, register an account or login your OPay Account if you’re an existing customer. Next, tap on finance and choose your preferred lender.

OPay works with two lenders: OKash Microfinance Bank and Easimoni Microfinance Bank. After you’ve chosen your preferred lender, the app will redirect you to the lender’s website for additional loan application. Meanwhile, do note that OPay will forward all the essential details needed such as credit score to the lender to further assist them in processing your loan application and disbursement amount.

Requirements to Borrow Loan from OPay for the First Time

To borrow loan from OPay as a first time borrower, you’ll have to supply or possess all these documents:

  • An active OPay Account
  • National Identification Number or any Valid ID Cards.
  • Bank Verification Number (BVN)
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Additionally, you must be at least 18 years old to become eligible for OPay Loans in Nigeria. Once you meet all these requirements, you can proceed to apply for loan on the OPay App.

How much can I borrow from OPay for the first time?

Depending on your credit score, monthly income and repayment history with other lenders, OPay can lend you upto N50,000 as a first time borrower. Meanwhile, you may be eligible for higher loan amount if you have a great credit score and balanced monthly earnings.

Here are some tips for increasing your chances of getting higher loan amount from OPay:

  • Make sure you have a good credit score. A 100% credit score will increase your chances of getting higher loan disbursement into your OPay Wallet.
  • Make sure you have a good repayment history with other lending platform. Defaulting loans on other lending platforms can get you in trouble with credit bureau and if your name is tagged in the blacklist, no platform will give you loan offers.
  • Have a good steady monthly income, proof of wealth, also known as proof of employment.
  • While filing your loan application, make sure you supply accurate information about yourself.

In general, you’re not certain about the loan amount you can borrow from OPay, you can use a loan calculator to get an estimate. The loan calculator will use your credit score, income/salary, and other factors such as credit bureau record and loan repayment history to give you an idea of how much you can qualify for.

Benefits of Borrowing Loan from OPay for the First Time

Here are some of the benefits of borrowing money from OPay as a first timer:

  • You’ll get a fast, easy and seamless loan application process.
  • Your loan application will get fast response and disbursement of loan into your OPay Wallet.
  • Competitive and Low Interest Rate.
  • You don’t need any collateral or paperwork to apply for OPay Loans.
  • Multiple repayment options that are flexible and easy-to-use.
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However, it is advisable to compare OPay’s loan rates and terms to other lenders to find the best deal that’ll suit your needs before you borrowing money from OPay.


In conclusion, we understand that borrowing money can be a stressful experience, especially if you’re doing it for the first time. That’s why we’re committed to making the OPay loan process as easy and straightforward as possible.

OPay offer a variety of loan options to meet the needs of all our borrowers, including the first timers and existing customers. However, if you still have any questions about the how much you can borrow from OPay for the first time or about your eligibility for a loan, please don’t hesitate to contact us via the comments section. We’re here to help you every step of the way.

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