Categories: Private Loans

Loan Apps without BVN in Nigeria in 2024


Do you not have a BVN and you are in urgent need of a loan or money to sort out some bills? You need not look far again. We bring it to you today that there are loans without BVN in Nigeria and there are loan apps in Nigeria without BVN. There are loan apps that give loans to their customers without mandating BVN as a requirement.  This is why we have carefully researched and written this article to provide you with all the information you need to know about such apps. So, enjoy!

Dear readers, we hope you have been enjoying all the information we have been providing you on Mobile Monie. Today’s article is taking another turn entirely because it will be exposing you to something most Nigerians do not know about. You might have been wondering if it is possible to borrow loan without BVN in Nigeria.

Well, the truth is it is possible. Not many Nigerians have access to banking and what if they find themselves in a situation where they just have to borrow money and there are no friends or relatives to provide the loan?  In this case, if they are familiar with loan apps, then that is the only option they have to get out of the mess. But the only fallback here is that they might not have BVN and most loan apps require BVN before you can qualify for loan. Does it mean that the person has to give up? No. There are loans without BVN in Nigeria and there are loan apps in Nigeria without BVN. You just need to know where to get them.

What is BVN and Why is it Important for Obtaining Loan in Nigeria?

BVN is a three-alphabet acronym for Bank Verification Number. It is a special identifying number that the Central Bank of Nigeria (CBN) issues to people for use in all Nigerian banks.

The BVN is used to validate bank customers’ identities and stop fraud. It is normally obtained by going to a bank branch and presenting identification documentation, such as a passport or any other form of government-issued ID such as the voter’s card or National Identity Card (NIN card).

The BVN is an eleven-digit number used as a unique biometric screening and identification system introduced by the Central Bank of Nigeria (CBN) for use by banks to monitor and restrict unauthorized and criminal financial activities. This BVN is unique to every customer of Nigerian Banks that is, as a user of any bank in Nigeria, you have your own personal BVN which is unique to you. This BVN will be used to link all bank accounts that you will ever open in your lifetime in Nigeria. This is to ensure that all financial activities relating to you can be easily traced and monitored.

The BVN has become a major requirement for operating any Nigerian bank. Without the BVN you cannot have access to even the most basic bank service such as sending and receiving money.

Over time, the BVN has become a very important Criteria that is used for granting loans in Nigeria whether by loan apps, microfinance banks, or regular commercial banks. This is to ensure that financial service providers can find it easy to verify the identity of their customers and trace all their financial transactions over time.

With the BVN, Loan apps can confirm a person’s income and other financial details. They can then use this information obtained to make well-informed decisions about your creditworthiness as to whether to give you a loan or not, the amount of loan you can be given, the repayment period, and the interest rate

The truth is there are many other methods of identity verification used by these loan apps, including phone numbers, email addresses, or utility bills, to confirm the borrowers’ identities. In some cases, some loan apps will require access to your phone’s GPS to confirm and verify your location just to affirm that the address and other details you have provided are correct. Those who might not have a BVN or who might have forgotten their BVN may find it simpler to get loans as a result of this innovation.

List of popular loan apps without BVN in Nigeria

Aella Credit

One of the most dependable loan apps in Nigeria without BVN is Aella Credit. This loan app provides personal loans without the requirement for guarantors, documents, or collateral in less than 10 minutes.

To apply for a loan from Aella Credit, all you have to do is download the app from the App Store for iOS users or Play Store for Android users, register with your correct and verifiable information, and submit the loan application. The loan term offered by Aella Credit is by far considerable and excellent, as borrowers can take advantage of sizable loan amounts with a long repayment period and moderate interest rates on each loan.

The interest rate is less than 10% and customers can borrow as high as N1,000,000. Some of the other benefits enjoyed by customers of Aella Credit include:

Zero rollover fees:

In the event of unforeseen circumstances and you are unable to repay your debts by the due date, Aella Credit will not charge you a rollover fee as a penalty for defaulting on the loan. You only repay the amount you borrowed.

Instant loan disbursement:

After successfully completing the loan application and all requirements set by the Aella Credit for obtaining loan have been met, the loan will be disbursed to the bank account you provided within 5 to 10 minutes.

Cashback on loan:

If you borrow money from Aella Credit, a repayment deadline will be given to you. If you are able to repay your loan on time, that is, before the repayment deadline, you will be given a cashback on the interest charged on the loan. This implies that some proportion of the interest charged will be refunded back to you as an incentive for maintaining a good credit record.


This is another well-known loan app among Nigerian. It was originally known as Paylater.  The carbon loan app deals with a variety of online financial services, such as transfers, savings, bill payments, and so on. Additionally, this loan app provides the opportunity to obtain quick loans without BVN.

To process loans and verify the identity of customers, Carbon uses information from bank transactions and/or employment records. Naira without providing any collateral or guarantors.

Carbon provides a special personal loan to its customers with a repayment period of up to 3 months. The interest rate charged on the loan is up to 10% and customers are able to borrow as high as N1,000,000 depending on their credit record.

Other benefits enjoyable by customers of Carbon include:

  • Customers can start and complete a transaction using just their mobile device anytime and anywhere
  • the basic requirement to apply for the loan is an Android phone, a data connection, and a reliable form of identification.
  • No matter who you are, there are funds accessible for you.
  • Carbon loan app also provides transparent services that are open and honest. There are no additional fees.
  • customers also enjoy benefits, such as a referral bonus, early repayments bonus, and cashback etc.


In Nigeria, Fairmoney is a very popular lending app that offers loans without documentation, paperwork, or loan security (collateral). To apply for loan on the Fairmoney loan app, all you need to do is install the app, and register as a user. After then, you can easily obtain an immediate loan without BVN.

The conditions of Fairmoney loan are quite flexible, and you can obtain loans of up to one million Naira. The repayment period of the Fairmoney loan is up to 1.5 years or 18 months with an interest rate of up to 15%. Upon a successful loan application, the loan will be disbursed to your bank account within 10 minutes.

Other benefits enjoyed by the customers of Fairmoney include:

Easy loan application:

Borrowers can apply for a Fairmoney loan from the convenience of their homes or places of business in just a few minutes thanks to the loan’s simple application procedure, which eliminates the need for them to go to a physical location.

Convenient repayment option:

Borrowers can select a repayment time that best suits their financial status and budget Therefore, borrowers won’t feel financially stressed when making loan payments.

Competitive interest rate:

In comparison to conventional lending institutions, Fairmoney Loan provides competitive interest rates. This means that debtors are able to repay the loan without taking on excessive debt.

Zero hidden charges:

There are no extra fees or charges with Fairmoney Loan. This means that borrowers don’t have to worry about paying extra fees in order to get the loan.


This is another trustworthy loan app in Nigeria that doesn’t require BVN. JumiaPay allows quick access to low-interest loans. As a regular customer, you can get a sizable loan of up to 500,000 Naira by using the app.

Within minutes of submitting your application, your loan will be deposited into your bank account. No paperwork or collateral is required to receive a JumiaPay loan, much like with another loan service that doesn’t require BVN.

Benefits of JumiaPay Loan

No collateral:

No collateral or guarantors are needed in order to use the Jumia One Loan App to receive a loan. All you need is a working bank account, a reliable source of income, and a verifiable or legitimate form of identification.

Quick loan disbursement:

After successful loan application and approval, the loan will be disbursed into your account in less than 5 minutes.

Competitive interest rate:

JumiaPay also offers a very competitive interest rate to its customers. They charge a fixed low interest of 2.5% per month which is fixed through the repayment period.


FlexiCash is another loan app that provides fast and instant loans to Nigerians without BVN. FlexiCash is operated by Palmpay, a well-known online banking program that lets its users send and receive money, buy airtime, pay bills, save, invest, and do a lot more.

The FlexiCash loan app is available on both Android and iPhone, and users of Palmpay can easily access loans from them. Based on your credit score/record and on information from Palmpay users, this service gives a payable loan amount.

Benefits of FlexiCash

Competitive interest rate:

Flexicash provides its customers with a competitive interest rate of as low as 2% per month. This is to ensure that customers are able to maintain a good credit score.

Flexible repayment plan:

As the name implies, FlexiCash. This loan app allows a flexible repayment plan for its customers. It offers a convenient repayment period to its customers. The repayment period can be as long as 6 months. The repayment plan is tailored to fit the income of the customers so that there won’t be a financial strain on the customer when paying back the loan.

Quick loan disbursement:

Just like the other loan apps, FlexiCash disburses loan to customers in less than 5 minutes after approval. They do not waste time with releasing loan at all.


Okash is another well-liked lending app without BVN in Nigeria. Without requiring BVN, this loan app provides personal loans. Okash swiftly evaluates loan applications and, if approved, immediately deposits authorized loans into borrowers’ accounts.

Okash loans have reasonable interest rates and an incredibly long-term. Okash loans include flexible payback terms that let you choose from a variety of repayment options. Okash is operated and owned by Opay.


  • Convenient repayment plan which fits the income and financial status of customers
  • Quick loan disbursement – an instant release of loan within 5 to 10 minutes
  • Considerable interest rate
  • No collateral and paperwork
  • Zero hidden or extra charges on loan processing


In Nigeria, it might be difficult to get a loan without a BVN because most financial institutions need it to confirm a borrower’s identity and credit history. Finally, it is advised to obtain a BVN as soon as possible because possessing one is becoming more and more crucial in Nigeria. However, you may usually only choose one loan application in Nigeria without a BVN from the list that has been supplied for you in this text.




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