Okash Loan Calculator

Okash is a digital lending app owned by Blue Ridge Microfinance Bank. It lets you apply for quick cash loans from as little as ₦3,000 up to ₦2,000,000 with instant approval. This Okash Loan Calculator (2025) is designed to help you calculate your Okash loan offer and plan before you borrow. With this tool, you can estimate your monthly repayment, total repayment, and total interest based on the loan amount, interest rate, and tenure you choose. Using the Naijaloanapp Okash calculator in advance gives you transparency on what you’ll owe, so you can borrow smarter.

How the Okash Loan Calculator Works

Okash Loan Calculator is an online tool that helps you to calculate Okash’s interest rates and repayment amount using the flat-rate model, where a fixed percentage is applied to the full loan each month. You only need to enter your desired loan amount, the monthly interest rate, and the loan tenure, and the calculator will calculate and show you the results instantly. By using it, you can see your expected monthly repayment, total repayment, and total interest up front. This clarity helps you to make smarter borrowing decisions and avoid surprises when the repayment starts.

How Okash Loan Works

To get a loan from Okash, you need to download the mobile app and create an account, supplying your basic personal information.

You must also meet basic requirements (e.g., be a Nigerian citizen, be aged 20–55, and have a valid ID and bank account).

Once you have created an account, click on the loan option in the app. Okash will show you the loan amount you qualify for based on your creditworthiness. Then select the preferred amount and tenure, and submit. Okash will evaluate your application, and when approved, funds will be credited to your bank account within minutes with no collateral.

Loan tenors range from 91 days up to 365 days. When the repayment is due, you can pay back via the app.

See Also: 5 Best Loan Apps Without BVN—With NIN and Phone Number (2025 Review)

Okash Loan Interest Rate Calculation Explained

Here is the Okash interest rate calculation for ₦500,000 loan under different scenarios (simple interest estimate):

Let's say you borrow ₦500,000 for 3 months at 3% monthly:
Your monthly interest will be ₦15,000, and total interest will be ₦45,000.

Your total repayment amount is ₦545,000 (principal + interest).

(The 3-month ₦500k loan total repayment amount is ₦546,500 at ~3.1% monthly.)

Okash loan interest rate on a ₦500,000 loan for 6 months at 10% monthly:

• Monthly interest: ₦50,000
• Total interest ≈ ₦300,000
• Total repayment ≈ ₦800,000.

Okash loan interest on a ₦500,000 loan for 12 months at 15% monthly:

• Monthly interest: ₦75,000
  Total interest ≈ ₦900,000
• Total repayment ≈ ₦1,400,000.

These figures show that even at the lowest interest of 3% monthly, a ₦500k loan incurs tens of thousands in interest, and at higher rates the interest can far exceed the principal.

How to Use the Okash Loan Calculator (Step-by-Step)

1. Enter the loan amount. For example, type in ₦10,000 (or any amount between ₦3,000 and ₦2,000,000).
2. Type in the interest rate. Enter the Okash loan interest rate (e.g., 15%). If you’re not sure, you can check the Okash loan offer terms.
3. Choose the loan tenure. Select how many months you want to repay the loan (e.g., 2 months). Okash loan terms range from 1 to 12 months.
4. Click “Calculate.” The calculator will instantly calculate and display your monthly repayment, total amount repayable, and the total interest charge.
5. Review the results. Check if the monthly repayment and total cost fit your budget before applying on the Okash app. Adjust any input if needed and recalculate to plan optimally.

Read more: Okash Loan App Review (loan amount, interest rate, download, and it is legit)

Benefits of Loan Calculator

• Help You to Plan Your Repayment: See exactly how much you’ll pay each month and in total before you apply.
• Help You to Avoid Over-Borrowing: By knowing the real cost up front, you’re less likely to borrow more than you can afford.
• See Full Cost: The calculator breaks down principal vs. interest so there are no surprises.
• Quick and Free: It’s instant and free—no sign-ups or fees.
• You can use it anywhere: You can use it on your phone or desktop to plan loans on-the-go.

By using this Okash Loan Calculator, you will be able to control your finances from the start.

Factors That Affect Your Okash Loan Interest Rate

There are several factors that influence the specific rate Okash assigns you:

• Borrower history: First-time users usually qualify for small amounts (often around ₦3,000 to 50,000 for a brand-new customer), and you may be charged higher rates. With each successfully repaid loan, your credit score and trust with Okash improve, allowing larger loans at potentially lower rates.
• Loan tenure: Okash loans range from 3 months up to 12 months. Shorter-term loans accrue interest for fewer days (even if the monthly percentage is similar), whereas longer terms naturally accumulate more total interest.
• Credit profile and income: A stable income and clean banking history make you a lower risk, which can help secure a better offer. However, inconsistent income or bad credit history may result in a higher interest rate or lower loan limit.

Other things like your job stability and existing debt level can also affect your Okash loan interest rates.

See Also: EaseMoni Loan App (Review, Alternative, and Is EaseMoni Approved by CBN?)

Tips to Reduce Loan Costs on Okash

• Repay on time. Okash charges a late fee on any unpaid balance, so make your payment by the due date to avoid extra charges.
• Borrow only what you truly need. Every extra naira borrowed incurs additional interest. Don’t overshoot your actual need.
• Pay early or in one go if possible. If you can repay before the term ends, you avoid subsequent interest (and future interest may not apply once the principal is cleared).
• Build a good repayment record. Successful, timely repayments can make Okash offer you lower rates (and higher limits) on future loans.

See Also: Top 10 Loan App That Gives ₦50,000 Instantly in Nigeria (2025 Reviews)

Related Calculators / You May Also Like

• PalmCredit Loan Calculator
• FairMoney Loan Calculator
• Branch Loan Calculator
• All Nigeria Loan App/Bank Calculator

Each of these tools can help you compare borrowing costs across different loan apps.

Conclusion

This Okash Loan Calculator is your quick guide to understanding any Okash loan before you sign up. By entering the loan amount, interest, and term, you’ll immediately see your monthly installment, total repayment, and interest. This will help you to plan and choose the best loan terms for your needs.

Try out the calculator above now and plan your Okash loan smarter!