6 Best Loan Apps Without BVN in Nigeria (2024)

  • October 24, 2023

Loan Apps Without BVN in Nigeria: Don’t have a BVN but are in urgent need of a loan? We’ve got some apps for you!

Loan apps that do not require Bank Verification Number (BVN) have become increasingly popular in Nigeria. These apps offer quick and easy access to loans for individuals without the need for traditional forms of identification or collateral.

Many of these apps use alternative forms of verification, such as phone numbers, email or utility bills, to verify the identity of borrowers. This can make it easier for those who may not have a BVN or who could not remember their BVN to still access loans.

Additionally, apps that offer loans without BVN can also provide loans to individuals who may not have a credit history, making it possible for them to build credit over time.

However, it is important to note that loan apps without BVN in Nigeria may have potential drawbacks. Regardless, they can still be a valuable option for those in need of quick access to funds.

Nairarush has brought before you 6 of the best loan apps where you can get an instant loan without BVN in Nigeria. That’s not all, but will also answer some common questions about taking a loan without BVN in Nigeria

Without further ado, let’s get started!

Top 6 Loan Apps Without BVN in Nigeria in 2023

The most reliable loan apps without BVN in Nigeria in 2023 include:

1. Carbon

loan apps without bvn in Nigeria

Formally Paylater, Carbon is a popular Nigerian fintech app that deals with lots of online banking services including savings, transfers, bill payments, and so on. This app also offers a lending service that lets you take instant loans without BVN.

In order to verify borrowers’ identities, Carbon uses Employment details and/or bank statements to review and offer loans.

Without any collateral or guarantor, you can access loans ranging from 1,500 to 1 million Naira for a period of up to six months on this app. Carbon loan repayment method is also flexible, which makes it very popular among Nigerians.


  • Loan Amount: ₦1,500 to ₦1,000,000
  • Interest Rate: 1.75% – 30%
  • Loan Tenure: 1 – 6 months
  • Requirements: Personal Details, Employment Details & Bank Statement


Instant loans without BVN, flexible repayment method, no need for collateral or guarantor.


Limited to a maximum loan amount of 1 million Naira, which is quite low for its popularity.

Read Also: Top 12 Urgent Loan Apps without ATM Card in Nigeria

2. Fairmoney

Fairmoney is a very popular lending app in Nigeria that gives loans without documentation or collateral. Upon that, you can also get an instant loan without BVN by just downloading the app and registering.

Fairmoney loan terms are very flexible, as you get access to loans ranging up to 1 million Naira for up to 18 months period. They also offer fair interest rates on loans, as you could get your loan disbursed in less than 5 minutes.


  • Loan Amount: ₦1,500 to ₦1,000,000
  • Interest Rate: 2.5% – 30%
  • Loan Tenure: 1 – 18 months
  • Requirements: Personal and employment details.


Loans up to 1 million Naira for up to 18 months, quick disbursement in less than 5 minutes.


Might have varying interest rates based on credit score.

3. FlexiCash

Owned by Palmpay, a popular online banking app that lets its users send and receive money, pay bills, buy airtime, invest, and lots more, FlexiCash allows you to get an instant loan without BVN in Nigeria.

Both Android and iPhone users can get loans on Palmpay through its lending service called the Palmpay Flexi Cash. This service offers a reasonable loan amount based on your credit score/record using users’ details with Palmpay.

The better your credit score, the higher the loan amount you’ll be offered, and it keeps increasing over time. Flexi Cash loans last from 15 to 30 days with an amazing interest rate. The more you borrow and pay back, the higher your subsequent loan limit.


  • Loan Amount: ₦1,500 and above
  • Interest Rate: 15% – 28%
  • Loan Tenure: 1 month
  • Requirements: Personal details, credit score evaluation, and the Palmpay app.


Offers loans based on credit score, increases loan limits with timely repayment.


Loan tenure is short, ranging from 15 to 30 days.

Related: Top 14 Instant Loan Apps in Nigeria Without Documentation

4. Aella Credit

loan without bvn in Nigeria

Aella credit is one of the most reliable loan apps without BVN in Nigeria. This app offers personal loans within just five minutes, without any collateral, documentation, or guarantor needed.

All you need to get a loan from Aella Credit is just to download the app from App Store or Play Store, create an account using your original details and submit a loan application.

This app’s loan terms are also great, as borrowers get to enjoy reasonably huge loan amounts with a relatively long tenor, and juicy interest rates on every loan.


  • Loan Amount: ₦1,500 to ₦1,500,000
  • Interest Rate: 2% – 20%
  • Loan Tenure: 2 – 12 months
  • Requirements: App download, and account setup with personal details


Quick loan processing within 5 minutes, no need for collateral or documentation.


Might be restricted by credit score and previous borrowing history.

5. JumiaPay

JumiaPay is another legit loan app without BVN in Nigeria where you can access low-interest loans in minutes. Using the app, you can access a huge loan amount ranging up to 500,000 Naira.

After applying, you get your loan disbursed directly into your bank account within minutes. Just like the other loan app that doesn’t require BVN, no collateral, or paperwork is needed to access JumiaPay loan.


  • Loan Amount: Up to ₦500,000
  • Interest Rate: Around 3.5%
  • Loan Tenure: 30 Days
  • Requirements: Personal details.


Offers loans up to 500,000 Naira, quick disbursement.


Relies on app-based assessment, might not suit all borrowers.

Related: 25 Loan Apps That Call Your Contacts to Aviod in Nigeria

6. Okash

No BVN loan App

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

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


  • Loan Amount: ₦3,000 to ₦500,000
  • Interest Rate: 9% – 30%
  • Loan Tenure: 1 – 12 months
  • Requirements: Personal details.


Quick loan application assessment, flexible repayment methods.


Interest rates and tenure might vary based on individual creditworthiness.

What is BVN and Why is it Important in Getting Loans in Nigeria?

BVN stands for Bank Verification Number. It is a unique identification number assigned to individuals by the Central Bank of Nigeria (CBN) for use in all Nigerian banks.

The BVN is used to verify the identity of bank customers and to prevent fraud. It is typically obtained by visiting a bank branch and providing proof of identity, such as a government-issued ID or passport.

As a Nigerian, you must possess this 11-digit BVN to operate a bank account in Nigeria. Loan apps also request these numbers for the purpose of verifying borrowers’ identities.

The BVN has also become an important factor in getting loans in Nigeria. Many lenders in Nigeria require a BVN as part of their loan application process.

This is because the BVN serves as a form of identity verification, which helps lenders to assess an individual’s creditworthiness and determine their risk level.

By requesting a BVN from borrowers, loan apps can also verify an individual’s income and other financial information. This helps them to make informed decisions about loan approvals and interest rates.

Check Out: Loan Apps with BVN Only in Nigeria

Comparison of Best Loan Apps That Don’t Require BVN in Nigeria

To help you make an informed decision, we’ve compiled a tabular comparison of these platforms, spotlighting their key features, terms, and conditions.

From interest rates to user reviews, this comparison will make your choice a tad easier.

Loan AppInterest RateLoan Amount
Carbon5% to 15%Up to ₦20,000,000
Fairmoney2.5% to 30%Up to ₦500,000
FlexiCash5% to 28%Up to ₦50,000
Aella Credit6% – 20%Up to ₦1,000,000
JumiaPay3.5%Up to ₦100,000
Okash3% to 30%Up to ₦500,000

Related: Loan Apps without Credit Check in Nigeria

How to Get a Loan without BVN in Nigeria: Step By Step Guide

Now that you know the best apps to borrow money without BVN in Nigeria, let’s take a look at how to use them to access loan.

Here’s a simple step-by-step guide on how to borrow money without BVN in Nigeria:

Step 1: Choose the Right Loan App

Before diving in, do a quick research on which platforms offer loans without bvn verification. From our list, Carbon, Fairmoney, FlexiCash, Aella Credit, JumiaPay, and Okash are great options.

Step 2: Download The App

Most of these platforms have user-friendly apps available on both Google Play Store and Apple App Store. Simply search the name, download, and install.

Step 3: Register On The App

After installation, open the app and register with your personal details. This may include phone numbers, email, and sometimes utility bills. Remember, no BVN is needed.

Step 4: Apply For The Loan

Navigate to the loan section of the app and input the desired loan amount. Some apps might require details like employment history or bank statements.

This is to assess your creditworthiness since there’s no bvn loan verification.

Step 5: Wait For Approval

Once you’ve filled out all necessary information, submit your application. Most of these apps promise quick turnarounds, so you won’t be waiting long.

Step 6: Receive Your Funds

If approved, you’ll receive a notification and the funds will be transferred to your specified bank account. Always ensure you provide the correct details to avoid delays.

Step 7: Repay The Loan

Keep track of your loan’s due date. Most of these apps have a user dashboard that shows your loan status. Repay using the stipulated methods on the app to avoid additional charges.

Bonus Tip: Build Your Credit Score: Even without BVN, these apps often track your loan repayment habits. By repaying your loans on time, you increase your chances of accessing higher amounts in the future.

Risks and Precautions When Using Loan Apps Without BVN

Despite the convenience of how to borrow money without BVN in Nigeria, it’s essential to be aware of potential risks and challenges.

Always take the time to read and understand the terms and conditions of your loan agreement. Furthermore, ensure that your personal data is handled securely and responsibly by the loan app.

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 borrowers’ identities.

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.


Obtaining a loan without a BVN in Nigeria can be challenging, as most financial institutions require this identification number as a way to verify an individual’s identity and credit history.

Ultimately, having a BVN is becoming increasingly important in Nigeria, so it’s recommended to get one as soon as possible. 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.