₦3,000 - ₦500,000
Loan Amount
5-15%
Monthly Interest
7-30 days
Repayment Term
5-10 minutes
Approval Time
Pros & Cons
Pros
- ✓Very fast approval (usually under 10 minutes)
- ✓No collateral required
- ✓Competitive interest rates
- ✓Loan limit increases with good repayment
- ✓Part of larger OPay ecosystem
- ✓CBN licensed and regulated
Cons
- ✗Maximum 30-day repayment term
- ✗Requires OPay account with activity
- ✗First-time limits can be low
- ✗App permissions required
How to Apply for OPay Loan
- 1
Download OPay app from Play Store or App Store
- 2
Register and verify your BVN
- 3
Use the app for transactions (airtime, transfers, bills)
- 4
Tap 'Credit' on the home screen
- 5
Select loan amount and tenure
- 6
Review terms and accept
- 7
Money disbursed to your OPay wallet instantly
User Reviews
Tunde A.Verified
Lagos
January 2025
Got ₦100,000 in less than 5 minutes. Best loan app I've used. Interest is reasonable if you pay on time.
Chioma E.Verified
Enugu
December 2024
Good app but they gave me only ₦15,000 on first loan. After 3 loans repaid, I now get ₦150,000. Patience is key.
Mohammed S.Verified
Kano
November 2024
Very reliable. I use OPay for my small business emergency needs. Never disappointed.
Frequently Asked Questions
How much can I borrow from OPay?
First-time borrowers typically get ₦3,000 to ₦50,000. With good repayment history, limits can increase to ₦500,000.
What is OPay's interest rate?
Interest ranges from 5% to 15% monthly depending on your credit profile and loan amount.
How do I increase my OPay loan limit?
Repay loans on time (or early), maintain active OPay usage, and build a longer credit history with the app.
Quick Info
- Founded
- 2018
- Headquarters
- Lagos, Nigeria
- CBN Licensed
- Yes
- Disbursement
- Instant
- Last Updated
- 2025-01-15
Requirements
- •Valid BVN
- •Active Nigerian phone number
- •Bank account (any Nigerian bank)
- •Valid government ID
- •OPay account with transaction history