Loan app without bvn in nigeria

loan app in nigeria

The method of accessing loan in Nigeria has radical change in recent years because to financial technology (fintech). The popularity of loan apps in Nigeria has grown as a result of their mobile accessibility and ease. However, a significant barrier that has prevented many people from using these apps to receive loans is the requirement for a Bank Verification Number (known as BVN). But is it still possible to obtain a loan in Nigeria without a BVN? In this article, you’ll learn about loans apps without a BVN and discuss about other related factors.

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Loan Apps without BVN:

Even though the majority of loan app in Nigeria require a BVN, there are still a few alternatives loan app without BVN or would rather use another method to verify users. The following are the list of loan applications that provide loans without BVN requirements:

FairMoney loan app:

FairMoney is a well-known loan application that enables users to get quick loans without a BVN. The app evaluates borrowers’ creditworthiness using a variety of data sources and advance algorithms. Users can apply for loans with adjustable repayment terms ranging from 2,500 to 500,000.

Carbon loan app:

formerly known as Paylater is another loan app that offers loans without a BVN is Carbon, Other data sources used by the app include transaction history, usage of mobile devices, and social media activity to evaluate loan applications. Carbon offers loans up to ₦1 million, with interest rates based on the borrower’s creditworthiness. Carbon also offers additional financial services, including bill payments and investments.


Palmcredit provides loans without requiring BVNs. For the purpose of evaluating a user’s creditworthiness, the app examines their financial and personal data. Loans between N2,000 to N100,000 are available to borrow, with repayment terms up to 12 months. Palmcredit is a preferred option for borrowers due to its user-friendly design and quick loan delivery.

Branch loan app:

Branch is an app that provides access to loans for people without a BVN. To evaluate loan applications, the app uses its own algorithms and alternate data sources. People can borrow money with customizable repayment terms for amounts between N1,000 and N200,000. Branch provides other services like loan top-ups and credit score monitoring.


Renmoney is another loan application that provides loans without requesting a BVN. Based on the user’s financial situation and credit history, the app assesses loan applications. Borrowers have access to loans with affordable interest rates and flexible repayment choices ranging from N50,000 to N6 million. Renmoney also offers loan calculators and personalised financial guidance to assist clients in properly managing their debts.


Quickcheck is a loan application that offers loans without requiring BVNs. The software uses machine learning and artificial intelligence to evaluate the creditworthiness of potential borrowers. Users get access to loans with repayment terms of up to 12 months and amounts ranging from N1,500 to N500,000. Quickcheck ensures a streamlined borrowing experience by providing speedy loan approvals and clear terms.

Aella Credit

is a loan app that provides loans without requiring a BVN. Utilising specialised credit scoring models and alternative data points, the app assesses loan applications. Users get access to loans with affordable interest rates and flexible payback choices for sums ranging from 1,500 to N1 million. Aella Credit additionally offers tools for financial education to encourage responsible borrowing.


With the help of Kiakia loan app, anyone can obtain loans without a BVN. Applications for loans are assessed using data analytics and artificial intelligence by the app. Users have access to loan sums between 10,000 and 200,000 with repayment terms up to 30 days. According to the creditworthiness of the applicant, Kiakia offers individualised interest rates and speedy loan disbursement.


The loan app Sokoloan offers loans without requesting a BVN. The application assesses loan requests based on a user’s financial data and repayment history. Loans between $5,000 and $100,000 are available to borrowers, with interest rates varying according on the loan amount and time required for repayment. Flexible repayment choices and convenient loan distribution are provided by Sokoloan.

okash loan app:

Okash is a loan application that provides loans without requiring a BVN. The software evaluates borrowers’ creditworthiness based on a variety of data sources using sophisticated algorithms. Users can borrow money for quantities between 3,000 and 50,000 with terms up to 91 days. Okash guarantees a seamless borrowing experience by offering speedy loan approvals and clear terms.

It’s vital to keep in mind that various loan applications may have different interest rates, loan amounts, and repayment durations. Before choosing a loan, it is advisable to carefully check the terms and conditions of each app to make sure that the loan suits your financial needs and payback capacity.

loan app without bvn

Considerations for Loan Apps without BVN: While accessing loans without a BVN can be easy, it’s important to consider a few factors:

Limited Loan Amounts: Loan apps that do not require a BVN may have lower loan limits compared to those that do. This is because the lender has less information about the borrower’s creditworthiness and wants to mitigate the risk.

Higher Interest Rates: Loan apps without a BVN requirement may charge higher interest rates due to the increased risk involved. It’s essential to carefully review the terms and conditions before accepting a loan offer.

Alternative Data Evaluation: Loan app without a BVN often rely on alternative data points to assess creditworthiness. This can include factors such as mobile phone usage, social media activity, and transaction history. Be mindful that this evaluation process may differ from traditional credit scoring methods.

Conclusion: While having a BVN is still the most common requirement for accessing loans through loan apps in Nigeria, there are options available for individuals who prefer not to use their BVN or do not have one. Loan apps such as FairMoney, Carbon, and Palmcredit offer loans without the BVN requirement, using alternative data points to evaluate creditworthiness. However, it’s important to carefully consider the loan terms, interest rates, and repayment options before taking a loan from these apps. Remember to borrow responsibly and only take loans that you can comfortably repay.

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