LOADING
Open by Baobab
Frequently Asked Questions (FAQ)
Welcome to Open by Baobab's Help Centre, your go-to resource for quick answers about our digital lending services.
If you can't find what you're looking for here, please reach us through the in-app chat, call our support line 07000226222, or email support@openbybaobab.com.
Getting Started
What is Open by Baobab?
Open by Baobab is a digital lending application that allows you to apply for, receive, and manage loans directly from your smartphone quickly, securely, and conveniently. You can also transact, repay, pay utility bil and track your financial activities in real-time using the app.
Who can use Open by Baobab?
Anyone aged 18 years and above, with a valid Bank Verification Number (BVN), active bank account, and verifiable phone number and email address, can access Open by Baobab services.
How do I download and register on the app?
- 1Visit the Google Play Store or Apple App Store.
- 2Search for "Open by Baobab" and click Install.
- 3Open the app, enter your phone number and BVN, and complete the registration steps.
- 4Verify your account with the OTP sent to your phone.
- 5You’re ready to apply for your first loan!
Loan Services
How do I apply for a loan?
- Log in to your Open by Baobab app.
- Tap “Apply for a Loan” on the dashboard.
- Choose your loan amount and repayment period.
- Review and accept the loan terms.
- Your application is processed instantly, and you'll be notified once approved.
How long does it take to receive my loan?
Once approved, funds are typically disbursed instantly into your Open-by-Baobab account.
What determines my loan eligibility?
Your eligibility is based on:
- Your BVN verification and account history
- Your creditworthiness (credit bureau and in-app score)
- Your repayment behavior on previous loans
- The accuracy of your profile details
What is the maximum loan amount I can get?
Your initial limit depends on your credit profile. As you build trust and repay on time, your limit increases automatically.
Repayments & Deductions
How do I repay my loan?
You can repay directly in the app using:
- Debit Card (linked to your account)
- Bank Transfer to your virtual account number
- USSD Payment (if available)
Payments are automatically reflected in your loan balance once received.
Can I repay my loan early?
Yes! You can repay early through your app dashboard. Early repayment improves your credit score and helps you qualify for higher loan limits in the future.
Account & Profile Management
How do I repay my loan?
No,
You can't use a different account for disbursement.
I forgot my password. How can I reset it?
On the login screen, click “Forgot Password”, enter your registered Phone number, and follow the steps to reset it using the OTP sent to you.
Security & Privacy
Is my information safe with Open by Baobab?
Absolutely. We prioritize your privacy and data protection. Your personal and financial data are encrypted and stored securely in line with NDPR and CBN data protection standards.
How do I identify official Open by Baobab messages?
All official communications come from:
- SMS Sender ID: OPBB or BaobabNG
- Email: support@openbybaobab.com
- Verified social media handles (with Baobab brand name and check mark)
We never request your password, BVN, or OTP through unofficial channels.
Technical & App Support
Why can’t I log in to my account?
Please ensure:
- You have a stable internet connection.
- You're using the latest version of the app
- Your phone number and BVN are correctly entered.
If the issue persists, contact support via the in-app chat or email us at support@openbybaobab.com.
My loan application keeps failing. What should I do?
Common reasons include:
- Invalid BVN or mismatched account details
- Network timeout during KYC verification
- Unstable internet connection
Try again after confirming your details, or reach out to support for assistance.
The app crashes or freezes: what should I do?
Clear cache, close other running apps, and restart your device. If the problem continues, uninstall and reinstall the app. You can also report the error through the “Help” section in the app.
Feedback & Support
How can I contact Open by Baobab Customer Support?
Helpline
07000BAOBAB (07000226222)
In-App Chat
Available 8 AM – 8 PM (Sun–Sat)
support@openbybaobab.com
Social Media
@Openbybaobab (Facebook, Instagram, TikTok & LinkedIn)
How do I share feedback or complaints?
We value your opinion.
In-App
Log complaints directly through the app
complaints@openbybaobab.com
Tracking
Every complaint receives a unique tracking ID for follow-up until resolved.
Get in Touch
We're here to help you with any questions about our products and services
Call Us Today
Have questions about our products?
Our team is ready to assist you.
Available 8 AM - 6 PM (Mon-Sat)
Visit Our Branch
Prefer face-to-face assistance?
Find a branch close to you.
Multiple locations nationwide