Top 6 Loan Apps Without BVN in Nigeria 

Top 6 Loan Apps Without BVN in Nigeria 
Top 6 Loan Apps Without BVN in Nigeria

They are apps that offer financial services, but they don’t ask for your BVN. Unlike many banks in Nigeria, however, you must provide collaterals to them and also provide your national identity numbers ( BVN ), Personal Assets, National Identification numbers, Bank Verification numbers ( BVN ), and so forth.

These loan apps will allow you to obtain loans without collateral or BVN quickly. Many have used them for years to get loans.

Perhaps you are wondering how to get an app and a loan in minutes without any collateral. This is what we will be discussing in this article.

Find loan applications in Nigeria that don’t require BVN

What loan apps in Nigeria offer loans without BVN? This question has a simple answer

Because of the difficulty, crime, and untrustworthiness of people all around. No reputable loan application in Nigeria will offer you a loan without asking for your BCN.

It is quite simple. The BVN is used for obtaining and verifying your identity. Without it, anyone could create fake names or forged details ( Credentials) to scam the company.

They also use the BVN for credit history checks. They won’t approve loans to anyone with bad credit. In the event of default, it is important to have all necessary documentation.

Can the loan app block my BVN with

Many have complained about loan apps that threaten to block their BVN. You may be wondering if it is possible for them to take such action. The answer is NO. Only the Central Bank of Nigeria can block your BVN. However, any loan app in Nigeria will not grant you a loan without your BVN.

What’s next?

If you default on your loan payment, you could be considered a high-risk borrower. Your identity will be reported to the National Credit Bureaus. The National Credit Bureaus will then label you as a high-risk borrower.

This will make it more difficult to get loans from financial institutions in the future. It may seem trivial to have a negative rating from the bureau.

If you find yourself in financial distress and need immediate cash, however, there are options. Because of your poor credit history, no Nigerian loan application will grant you a loan. To help them assess your credit history, loan apps in Nigeria must have your BVN.

You must always pay your loans. If you have difficulty paying your loan off, For assistance in negotiating a reduction of your debt, you can reach the loan app.

Top 6 loan Apps for Loans without BVN in Nigeria

Carbon (formerly PayLater).

Carbon is a loan App that allows clients to borrow up to one million naira without collateral, paperwork, or guarantors. Carbon has been lauded as the best loan app for Nigeria because of its unique features.

Carbon, a platform based in Lagos, Nigeria, was created by Chigioke & Ngozi Dozie. The loan app gives its users access to financing. You have several investment options that offer high yields and flexible payment options.

Carbon is unique because its clients can pay off their loans on time. The person will be entitled to cashback for the interest they pay.

Higher loan amounts and lower interest rates.

The platform is known for its reliability and lack of processing fees or late fees. Only pay what you owe.

This is a very sought-after feature missing in many Nigerian lending apps.


This is the second-best loan App in Nigeria. Like carbon, this platform allows you to unlock a larger loan if you pay your debts on time.

You can get loans from NGN 2000 up to NGN 500,000, which you will pay back in between 4 and 52 weeks. Based on your loan amount, the Branch annual percentage rate (APR), ranges from 18% to 260%. An equal monthly interest rate of between 1.5%-20%.

One of the most popular loan apps in Nigeria. Smart technology is used by the branch to analyze data from your smartphone to determine your eligibility for loan approval. The app processes thousands of data points.

It offers personalized loan options in seconds, making it one of the fastest loan apps in Nigeria.


Fairmoney provides over 10,000 loans every day. This makes it one of Nigeria’s largest and third most popular loan apps. The fantastic loan platform offers loans ranging in size from NGN 10,000 to NGN 1,000,000. Payback terms range from 61 days up to 547 days (18 months).

Fairmoney will disburse the loan within five minutes of you requesting it on the app. It is one of the most popular loan apps in Nigeria. Fairmony has a 30 – 260% APR range and a monthly interest rate between 2.5%-30%, making it one of Nigeria’s most popular low-interest loan apps.

Fairmoney is a European-based app. Because they comply with European data security requirements, Fairmoney has a higher reliability rating than many instant loan apps. Fairmoney is also one of the most highly-rated Nigerian loan apps via Playstore.


Palmcredit is one of the most popular loaning platforms in Nigeria. Instant loans are available through this platform.

You can get flexible loans in minutes.

Credit limit range: NGN2000 to NGN100,000.

Rate of interest: 14%-24%

Monthly equivalent interest: 4%4.7% APR 48%56% Loan term: 91-180 Days

This app must be registered and approved. You must first register to be approved for a loan. Once approved, the money is transferred to your bank account in 5 minutes

There is no need for paperwork or collateral.

Refer a friend, and they will give you referral cashback.

This app can help you earn NGN80,000.

You can reduce interest rates by making early repayments.

Money Pal

Zedvance offers customers mobile loans.

It offers loans up to #5,000,000 anywhere and anytime, with no hidden fees

The loan tenor lasts for 24 months

Annual Percentage Rate (APR), 43%-365%

To be eligible for a loan through this app, you must create an account. Continue to fill out the relevant information.

It is important to remember that you can only apply for a loan via this app if your BVN number is linked. Once your loan application has been approved, the loan will be sent to your bank account.


Okash is another popular lending app in Nigeria. This app offers personal loans without the need for BVN. Okash gets loan applications assessed quickly and gets loans disbursed directly into borrowers’ accounts instantly if approved.

Okash loans come with fair interest rates and amazingly long tenure. The repayment method of Okash loans is also flexible, allowing you to use multiple options.

Loan Without BVN in Nigeria – FAQs

Can I get a loan without BVN in Nigeria?

Yes, you can get a loan without BVN in Nigeria. Loan apps such as Carbon, Okash, Aella, and Palmpay give you the opportunity.

Do loan apps ask for BVN?

Yes, some loan apps ask for BVN while looking to take a loan from them. This is mainly for the purpose of verifying the borrower’s identity.

Where can I borrow money without my BVN?

You can borrow money from loan apps/platforms such as Carbon, Okash, Palmpay, Jumiapay, Aella Credit, and Fairmoney without BVN.

How to get a loan without BVN verification in Nigeria?

You can get a loan without BVN verification in Nigeria on apps such as Carbon, Okash, Palmpay, Jumiapay, Aella Credit, and Fairmoney.

In Conclusion

Obtaining a loan without a BVN in Nigeria can be challenging, as most financial institutions require this identification number to verify an individual’s identity and credit history. Ultimately, having a BVN is becoming increasingly important in Nigeria, so getting one as soon as possible is recommended. But in the main time, you can just pick one loan app without BVN in Nigeria from the list already provided for you in this post.

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