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Best 10 Loan Apps Without BVN in Nigeria 2024

Best 10 Loan Apps Without BVN in Nigeria 2024
Best 10 Loan Apps Without BVN in Nigeria 2024

While it’s true that some loan apps may offer loans without requiring a BVN (Bank Verification Number), it’s essential to approach such platforms with caution.

The BVN is a crucial component of financial security and helps verify the identity of individuals, preventing fraud and ensuring a more secure lending environment.

Apps that claim to provide loans without a BVN might use alternative methods for identity verification, but users should carefully review their terms and conditions. It’s common for such loans to have higher interest rates and shorter repayment periods, which could lead to financial challenges for borrowers.

It’s highly recommended to prioritize security and privacy when considering loan applications. If privacy concerns or lack of a BVN are barriers, individuals should explore reputable lending institutions and fintech platforms that adhere to regulatory standards and prioritize customer security.

Knowing and safeguarding your BVN is crucial for personal financial security and should not be compromised unless dealing with reputable financial institutions following proper protocols.

Best 10 Loan Apps Without BVN in Nigeria 2024

1. FairMoney

Fairmoney emerges as a notable player in the digital lending space by providing users with the convenience of accessing loans without the prerequisite of submitting their BVN. This approach aligns with the evolving preferences of individuals who may prioritize privacy or opt not to share their BVN details.


Users of the Fairmoney loan app have the opportunity to secure loans of up to ₦300,000 within a swift 5-minute timeframe, eliminating the need for BVN submission during the application process. This flexibility empowers users to navigate their financial needs without additional documentation or verification requirements.

Understanding the cost implications is crucial when considering a loan, and Fairmoney addresses this by offering transparency in its interest rates. For example, if a user takes a loan of ₦10,000 with a repayment period of 2 months, the interest rate stands at a modest 2%. This transparent approach to interest rates enhances the overall user experience, allowing individuals to make informed decisions about their borrowing.

The simplicity of the loan application process is a key highlight of Fairmoney. Users can initiate the process by downloading the app from their preferred app store, submitting their application, and swiftly receiving approval. This streamlined approach ensures that users can access funds promptly, addressing their financial needs in a timely and efficient manner.

In essence, Fairmoney’s commitment to providing loans without BVN aligns with the broader trend of digital lending platforms embracing user-friendly and accessible solutions. This approach contributes to financial inclusion by offering diverse borrowing options tailored to the preferences and needs of users.



OKash, a service provided by Opay Digital Services Limited, facilitates micro-loans without the necessity of a BVN . Users can borrow amounts up to N50,000 with interest rates typically ranging from 10% to 24% per month.


The loan term extends up to 60 days, providing short-term financial assistance. The application process is designed to be simple and quick, with many users completing it within minutes. Before proceeding, carefully review the terms of the loan, including interest rates and repayment periods.

Explore user reviews and ratings for OKash to gauge its reputation and reliability. This can provide insights into the experiences of other borrowers. Consider exploring other lending platforms and apps to compare loan terms and conditions.

Different platforms may offer varying benefits and conditions. Check if OKash provides accessible customer support for any inquiries or concerns you may have during or after the loan application.

Remember to prioritize responsible borrowing and ensure that the lending platform aligns with your financial needs.

3. Carbon

Carbon is a lending platform that offers loans without requiring a BVN in Nigeria. Through the Carbon Loan app, users can access loans ranging from ₦1,500 to ₦1 million within minutes, eliminating the need to submit a BVN during the application process.


Interest rates on Carbon loans vary, spanning from 1.75% to 30%. Repayments can be made over an extended period of up to 64 weeks, providing flexibility for borrowers. For example, if you opt for a 3-month loan of ₦50,000, the monthly interest rate will be 2%. It’s essential to carefully review the terms and conditions, including interest rates and repayment periods, before proceeding with a loan application.

Additionally, consider exploring user reviews and ratings for the Carbon Loan app to gain insights into the experiences of other borrowers. This can aid in making an informed decision based on your financial needs and preferences. Remember to prioritize responsible borrowing and ensure that the lending platform aligns with your overall financial goals.

4. Jumia Pay

Jumia Pay, a financial service provided by the well-known e-commerce platform Jumia, offers a loan option without the requirement of a BVN.

Jumia Pay
Jumia Pay

Users can access competitive interest rates starting at a low 3.5% per month, making it an attractive option for those seeking financial assistance. Additionally, Jumia Pay provides flexibility in repayment terms, allowing borrowers to choose terms ranging from 15 to 60 days based on their preferences and financial situation.

The loan disbursement process is designed for instant access, providing quick and convenient financial solutions to users. Jumia Pay prioritizes user privacy and security, ensuring a trustworthy and secure environment for financial transactions.

Before proceeding with a loan application, it’s advisable to review the terms, interest rates, and repayment options to make an informed decision. Additionally, checking user reviews and ratings can offer insights into the experiences of others who have used Jumia Pay for loans. Responsible borrowing practices should always be prioritized to maintain financial well-being.

5. GoCash

GoCash provides users with the option to access long-tenor, low-interest loans without the need for BVN submission. The loan tenure ranges from a minimum of 61 days to a maximum of 180 days, offering flexibility in repayment periods.

It’s important to note that while the app advertises a 0% service fee, there is an associated interest fee of 33%, which may be considered relatively high.

For example, if a user borrows ₦20,000 from GoCash with a repayment period of 120 days, they will incur a monthly interest charge of ₦5,000+. Potential borrowers should carefully consider the cost implications of the interest rates and repayment terms before deciding to take a loan from GoCash.

Understanding the terms, fees, and interest rates is crucial to making informed financial decisions and ensuring responsible borrowing practices. Additionally, reading user reviews and experiences with the GoCash app can provide insights into the overall satisfaction of borrowers with the platform’s services.

6. Aella Credit

Aella Credit offers users the opportunity to access online loans without the requirement of submitting a BVN. With Aella Credit, individuals can obtain a collateral-free loan of up to ₦1 million within a short timeframe of 5 minutes, providing a quick financial solution.

It’s important for potential borrowers to be aware that Aella Credit charges an interest rate of around 22%. This interest rate represents the cost of borrowing and is a crucial factor to consider when evaluating the affordability of the loan.


Before applying for a loan with Aella Credit, individuals should carefully review the terms, conditions, and associated fees to make informed decisions regarding their financial commitments. Responsible borrowing practices involve understanding the full cost of the loan and ensuring that repayment terms are manageable within one’s financial capacity.

7. Quickteller

Quickteller, a versatile payment solution, extends its services to include quick and collateral-free loans without the requirement of a BVN. This feature provides users with convenient access to financial assistance without the need for a BVN submission.


Interest rates on Quickteller loans may vary based on factors such as loan duration and the amount borrowed. It’s crucial for borrowers to be aware of the specific terms and conditions associated with their loan request, including the applicable interest rates.

The application process for Quickteller loans is designed to be straightforward, streamlining the borrowing experience for users. Upon approval, funds are disbursed directly into the borrower’s account, ensuring prompt access to the requested financial assistance.

Quickteller’s loan offerings cater to a range of financial needs, accommodating both short-term and mid-term requirements for users seeking accessible and flexible borrowing solutions.

8. Eyowo Loan App

Eyowo, a versatile financial services platform, extends its offerings to include a loan service that operates without the necessity of a BVN. This unique feature is designed to enhance accessibility to financial resources for users who may prefer not to submit their BVN details or those without one.

The Eyowo Loan App allows users to apply for loans with varying terms, including interest rates between 5% and 15%. Borrowers can access amounts of up to NGN 50,000, and the repayment period typically ranges from 30 to 90 days.

One of Eyowo’s distinguishing features is its commitment to providing financial services to users who may not have a traditional bank account. With Eyowo, users can receive, spend, and send money without the need for a conventional banking relationship. This aligns with the platform’s goal of promoting financial inclusion and making financial services accessible to a broader population.

The application process for Eyowo loans is designed to be user-friendly, reflecting the platform’s dedication to simplifying financial transactions. By offering loans without a BVN requirement, Eyowo aims to cater to the diverse financial needs of its users, ensuring that financial assistance is readily available and easily accessible.

9. ALAT By Wema

ALAT by Wema Bank stands out as a leading digital banking app, offering a range of financial services to users. Among its diverse offerings is the provision of instant loans without the requirement of a BVN. This unique feature caters to individuals who may prefer not to share their BVN details or those who do not have one.

The ALAT app facilitates the borrowing process with the capability to provide loans of up to N2,000,000. Importantly, the loan application process is designed to be hassle-free, eliminating the need for collateral, extensive documentation, or paperwork. ALAT by Wema Bank prioritizes efficiency, and users can expect a fast application process.

One of the key advantages of the ALAT loan service is the rapid disbursal of funds. Upon loan approval, the funds are promptly transferred to the applicant’s bank account, ensuring that users have access to the financial assistance they need within minutes.

The ALAT app’s commitment to simplicity, speed, and accessibility aligns with the broader goals of digital banking. By offering instant loans without a BVN, ALAT aims to enhance financial inclusivity and provide a seamless borrowing experience for its users. This strategic approach reflects the evolving landscape of banking, emphasizing digital solutions that prioritize user convenience and accessibility.

9. PalmCredit

almCredit is a notable player in the financial technology space, providing quick loans without the requirement for BVN verification. This feature addresses the preferences and needs of individuals who may be averse to sharing their BVN details or those who do not possess one.

The loan amounts offered by PalmCredit are diverse, ranging from N2000 to N100,000, accommodating various financial needs that users may encounter. Importantly, the interest rates are flexible, with variations from 4% to 24%, allowing users to choose options that align with their preferences and repayment capabilities.

One of the key advantages of PalmCredit is the accessibility of loans for a duration of up to 6 months. This extended repayment period offers users the flexibility to manage their finances effectively while repaying the borrowed amount within a reasonable timeframe.

The application process for PalmCredit’s quick loans is designed to be user-friendly and efficient. This commitment to simplicity enhances the overall experience for borrowers, ensuring a seamless and convenient process from application to disbursal.

PalmCredit’s strategic approach to providing loans without BVN verification underscores the evolving landscape of digital lending, emphasizing accessibility, flexibility, and user-centric solutions. As an integral part of the financial technology ecosystem, PalmCredit contributes to the broader goal of financial inclusion by offering diverse and convenient borrowing options.

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