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6 Instant Loans Without BVN in Nigeria

Last updated on September 21st, 2023 at 04:05 pm

Do you have pressing financial needs that you need to meet? Do you need an instant online loan in Nigeria without BVN or collateral? This may sound too good to be true but you can access instant loans without providing your BVN. Some financial platforms in Nigeria give you access to loans without the stress of providing BVN or collateral. Let me tell you all about these platforms which have been tried and tested.

Loan Without BVN

What is BVN?

The Bank Verification Number (BVN) is a unique 11-digit identity number for each person across the Banking industry in Nigeria. The Central Bank of Nigeria implemented this biometric identification system to prevent and decrease illegal banking transactions in Nigeria. It serves as a modern security measure that protects banking transactions by reducing fraud.

Your BVN number should always remain private and protected at all costs. This is because some illegal loan apps may want to use it for fraudulent purposes. So in most cases, you need to be mindful of releasing your BVN on just any platform. You can see how to check BVN online here.

Top Instant Loan Without BVN In Nigeria

Here is a list of some of the top platforms where you can get loans without BVN in Nigeria:

1. FairMoney Loan App

FairMoney loan platform offers you instant cash for any of your financial needs without you providing your BVN, documentation, collateral, or guarantor. Basically, through this app, you can borrow within the range of N1,000 to N150,000 with a repayment period of 2 – 12 weeks. The amount of loan you can borrow depends on your creditworthiness and the interest rate varies based on your profile, and ranges from 1% to 3% per month.

A friend of mine was in a tight spot and needed some extra cash to cover an urgent medical bill. They had heard about the FairMoney Loan App and decided to give it a try. To their surprise, the registration process was a breeze, and they were able to apply for the loan without the need for a BVN. Within less than 10 minutes, they received the loan approval, and the funds were quickly transferred to their bank account. This timely assistance was crucial for my friend, and they were grateful for the seamless experience with FairMoney.

Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before committing. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today

2. JumiaOne Loan App

JumiaOne is also one of the best loan apps you can borrow from without inputting your BVN. To access loans on this app, just scroll down to the ‘Financial Services’ category and click on ‘Loans’. After you provide all the information required, you will receive your loan within minutes. The interest rate for JumiaOne loans is 3.5% monthly plus a 0.5% processing fee.

Someone I know had an unforeseen travel expense and needed some financial support during their trip. They read online about the JumiaOne Loan App and decided to explore it. The application process was straightforward, and they appreciated the reasonable interest rates and flexible repayment options offered. Within a few hours of applying, the loan was disbursed, providing them with the extra funds they needed to enjoy their vacation stress-free. JumiaOne’s app proved to be a reliable companion for my acquaintance during their travel adventure.

3. Carbon (Paylater) Loan App

Carbon, formerly known as Paylater is another app you can trust. It is owned by the One Finance & Investment Limited company and offers more than just instant loans. Aside from the fact that you can readily get loans from N5,000 to N1,000,000 with a tenor of between 7 – 180 days, the platform does not delay in paying your loan. Within 3 minutes of submitting your application to the platform, they will credit your account. Interest ranges from 1.75% – 30%, with an equivalent monthly interest rate of 1 – 21%.

I read online about a person who encountered an urgent need to replace their laptop due to a sudden malfunction. They came across the Carbon (Paylater) Loan App and decided to give it a chance. The app’s user-friendly interface and swift loan approval process impressed them. They had multiple loan options to choose from, making it easy to find one that matched their financial needs. Thanks to Carbon, they were able to resolve their laptop issue promptly, ensuring their work continued without interruptions.

Read also: What is Loan Syndication – The Processes of Loan Syndication

4. OKash Loan App

Okash loan app is another legit and popular platform to borrow your loans.  You can access this platform through the Opay mobile app, which is controlled by Opay Digital Services Limited/Paycom. However, OKash is solely owned and operated by Blue Ridge Microfinance Bank Ltd. The interest rate for this app is around 36.5%.

A friend of mine faced an unexpected appliance breakdown when their refrigerator stopped working. They urgently needed funds to buy a new one. They learned about the OKash Loan App through a colleague and decided to apply. The app’s simple navigation and quick loan approval process made it a hassle-free experience. Within a short time, they had the loan amount credited to their account, allowing them to purchase a new refrigerator and avoid any further inconvenience.

Learn how to borrow money from Opay (Okash)

5. Aella Credit Loan App

Aella Credit is another legit platform where you can borrow loans without BVN. This user-centered digital lending platform offers users loans as low as N2,000, with a maximum limit of up to N1,000,000. Also, their processing period does not take too much time. Within 10 minutes of applying for your loan, you will be credited. Monthly interest rate ranges from 2% – 20% and APR from 22% – 264%/annum. 

Someone I know recently shared their experience with the Aella Credit Loan App. They found themselves in a challenging situation where immediate medical attention was required, and their savings were insufficient to cover the expenses. They turned to Aella Credit and were impressed with the transparent loan terms and reasonable interest rates offered. The app’s responsive customer support team guided them through the process, and they received the necessary funds promptly. Thanks to Aella Credit, they could ensure timely medical care for their loved ones.

6. PalmPay Loan App

The PalmPay Loan app stands as a reliable lending platform. Within just 5 minutes of approval, you can secure an instant loan through this app. Plus, there’s no requirement for paperwork or collateral before borrowing, which makes the process almost seamless. If you’re a new borrower, you’re entitled to a loan amount of 10,000 on this platform.

One of my family members had at one time required emergency funds for his mother’s medical treatment and chances of getting money from neighbors and friends were pretty bleak until that family member got introduced to the PalmPay app. He was able to get the amount he needed at that time and solved the issue of pending medical bills. It is quick and easy. The interest rate on a PalmPay loan is between 15% to 30%. It varies within that range depending on the amount of loan you obtained and your credit score. 

Dive deeper into how to borrow money on PalmPay here.


There are several platforms where you can obtain a list without BVN in Nigeria. All you need to do is to make sure that the app is legit. You can make your choice from the list above to ensure that you are secure. Also, do not forget that your BVN should remain private and you have to be mindful of the platform you reveal it to.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.