Okash Loans: application requirements, app download, interest rates, terms, and conditions&nbsp

Okash is a leading digital, micro-lending service and started its operations in Kenya in 2018. Here's is everything you need to know about Okash Loans.

Okash is a leading digital, micro-lending service and started its operations in Kenya in 2018.

Its main aim of the microlender was/is to make loan provisions to Kenyans easier and more convenient. The mobile loan platform won an award for being the top firm in the industry in 2019.

The Opera Group owns the mobile loan service, but TenSpot Kenya Limited  runs the operations. It received a positive response during its launch period, seeing many prospective borrowers visit Google Play Store to download the Okash loan app.

The firm offers its services via mobile phones, and a consumer can use the Okash app. There is no Okash loan USSD code at the moment.

  • It’s a digital lending platform that targets users seeking short-term loans.
  • Okash loan app ranks amongst the most downloaded applications on Google Play Store
  • With the appetite for digital loans growing, it’s essential to understand how to apply for an Okash loan.
Okash personal loan application

Okash personal loan

Loans from the digital money lender target individuals and not businesses. A potential borrower needs to have a registered mobile sim card from Safaricom, and the amount is disbursed through Mpesa.

The loan is unsecured and doesn’t require a borrower to provide any form of collateral or security. After approval, disbursement is done within minutes.

According to Okash, the initial phase targeted 100,000 borrowers, and the loan amounts ranged from Kshs 500 to Kshs 100,000.

Owing to a good market response and favorable trading environment, the service provider increased the loan amounts to a minimum of Kshs 1500 and a maximum of Kshs 500,000.

Okash uses artificial intelligence (AI) to vet the applicants, with more emphasis on the individuals borrowing behavior.

Okash registration app and installation

Okash registration app and installation

Okash loans target individuals with android phones that support Android 4.0.3 or higher. At the moment, it doesn’t support iPhone users (IOS), and also there is no Okash loan USSD code for the service yet.

Registering for the service entails first downloading and installing the Okash loan app, which takes a relatively short time.

The next step entails providing your details to the lender via a standard questionnaire that captures your average income, employment status, level of education, the reason for borrowing, and other pending loans. 

Using AI, information from the credit reference bureaus (CRB), and the questionnaire, Okash can determine the most suitable loan limit for you.

The amount given will be minimal onset, usually, Kshs 1500. However, your Okash loan limit will keep rising over time with frequent borrowing and prompt repayment.

Okash app download

Okash loan app download

  1. You need to be at least 18 years and with a registered mobile number/SIM card
  2. Ensure you have an android phone that supports support Android 4.0.3 or higher
  3. Visit Google Play Store and look for the Okash app
  4. Once found, download it and afterward install it
  5. Open the app and sign up using your registered phone number 
  6. Input your details in the questionnaire 
  7. Confirm all the details are correct and then submit

Okash loan interest rates and penalties

After applying for a loan via the loan app, you’ll wait for a few minutes to know whether you are successful or not.  

Going by Okash terms and conditions, a successful borrower is charged an additional fee on top of the principal loan amount.

According to Okash, agreeing to its terms and conditions gives the lender permission to share your details with parties, including family, relatives, employer, Credit Reference Bureau (CRB).

Okash loan interest rates can be as low as 1% if the amount is repaid within 14 days. The maximum rate charged annually is 36%. Failure to adhere to the specified dates attracts an additional 2% charge daily. 

The longer the term period, the higher the interest rates. Borrowers with a good track record of timely repayments enjoy more flexible terms, which can be as low as 5% p.a.

The amount is sent to your Mpesa number, which means that the services are only available to Safaricom line holders and not Airtel or Telkom.

How to settle your Okash loan

How to settle your Okash loan

Okash offers two methods of repaying a loan: App and M-Pesa.

M-Pesa seems preferred since most Kenyans are most familiar with mobile money applications. The moneylender sends a repayment reminder two days before the due date via an SMS.

Repaying via Okash app 

  1. Open the app with your mobile phone 
  2. Go to your account and Log in 
  3. Select the “Make a repayment” Option
  4. M-Pesa menu will automatically popup
  5. Input your pin
  6. The amount due will be deducted 
  7. You’ll receive a notification message from Okash and Mpesa

NB: Other than just requesting a loan and making a payment, the Okash app also shows you any available coupons and loan limits.

Loan repayment via Okash Paybill number /Mpesa

Source: Safaricom

  1. Access the M-Pesa menu on your mobile phone
  2. Select the ‘Lipa na M-Pesa’ Option
  3. Choose Paybill
  4. Insert Okash Paybill number 612224
  5. Input your registered phone number in the account number section
  6. Key in the amount you want to pay
  7. Input your M-Pesa pin
  8. Confirm the details, and if satisfied, press OK 
  9. You will receive a confirmation SMS from both Okash and Mpesa
Okash loan app review

Okash loan app review


  • Easy registration and loan application process
  • Flexible interest rates for good borrowers
  • Loan approvals are fast


  • It doesn’t work with iPhones or IOS
  • The initial loan amounts are low
  • It doesn’t support Airtel and Telkom
Okash referral program and incentive 

Okash referral program and incentive 

Sharing a referral link with another person automatically gives you Kshs 300 once the other party successfully accesses the first loan. If the loan application isn’t successful, you’ll still be given Kshs 4.

Okash has an affiliate program that lowers the interest rate chargeable to an existing borrower as an incentive to borrowers.


Okash stands out as among the top digital money lenders. It invests in leading technology and has a convenient and straightforward registration process.  

The loan amounts are also among the highest and the flexible interest rates. Okash loan approval should make Okash loan application more accessible, especially for a first-time user.