Top 6 Instant Loan App Without BVN in Nigeria [2023/2024]

instant loan app without bvn in Nigeria

Loan App Without BVN in Nigeria: You don’t have a BVN yet and you need a loan urgently? There are Loan apps online that don’t require a Bank Verification Number (BVN) which have become popular in Nigeria.

These applications provide consumers with quick and easy access to loans without the requirement for traditional forms of identification or collateral.

Many of these apps use alternate means of verification, such as phone numbers, emails, or utility bills, to verify borrowers’ identities. This can make it easier for those who do not have a BVN or who cannot remember their BVN to apply for loans.

Furthermore, apps that provide loans without BVN can provide loans to people who do not have a credit history, allowing them to build credit over time.

However, it is important to know that loan app without BVN in Nigeria may have disadvantages. Regardless, they might be an advantage option for those who need quick access to funds.

In this post, StudyLoaded discusses the Top 6 Best Quick Loan Without BVN in Nigeria, their interest rate, Instant Loan App without BVN in Nigeria, their loan amounts, and Government Approved Loan Apps. 

What is BVN?

The Bank Verification Number (BVN) is a unique 11-digit identifying number assigned to each individual in Nigeria’s banking system.

This biometric identification system was established by the Central Bank of Nigeria to prevent and reduce illegal banking activities in Nigeria. Essentially, it is a modern security feature that safeguards banking transactions by reducing fraud.

Your BVN number should be kept private and secure at all times. This is because some illegal loan apps may wish to use it for fraudulent reasons. In most circumstances, you should be cautious about distributing your BVN on any platform.

List of Loan Apps Approved by FG (Federal Government)

  1. FairMoney Mirco Finance Bank.
  2. Pivo Technology Limited.
  3. RenMoney Mirco Finance Bank Limited.
  4. Carbon MicroFinance Bank Limited.
  5. Creditwave Finance Limited.
  6. Branch International Financial Services Limited.

For instance, the above-mentioned Loan Apps are registered in Nigeria by the Federal Government and might ask for BVN based on the amount of Loan you want to get from them and the level of your account with them. Read the Full List here

List of Best Instant Loan App Without BVN in Nigeria

There are numerous quick loan apps in Nigeria, and the majority of them demand you to give a Guarantor, Collateral, Verified Document, and BVN (Bank Verification Number), but here is a list of the best quick loan app without BVN in Nigeria.

  • Carbon Loan App (formally Paylater)
  • Fairmoney Loan App
  • FlexiCash Loan App (Owned by PalmPay)
  • Aella Credit Loan App
  • JumiaPay Loan App
  • OkCash Loan App

1. Carbon

Carbon, formerly known as Paylater, is a popular Nigerian fintech app that offers a variety of online banking services such as savings, transfers, and bill payments. This application also provides a loan facility that allows you to take out quick loans without providing a BVN.

Carbon uses employment information and/or bank statements to verify borrowers’ identities when reviewing and offering loans.

On this app, you can get loans ranging from 1,500 to 1 million Naira for up to six months without any collateral or guarantor. Carbon loan payback is also flexible, making it popular among Nigerians.

2. Fairmoney

Fairmoney is a well-known loan app in Nigeria that provides loans without the need for documentation or collateral. You can then acquire a quick loan without a BVN by simply downloading the app and registering.

Fairmoney loan terms are very flexible, as you can borrow up to 1 million Naira for up to 18 months. They also have reasonable loan interest rates and may release your money in less than 5 minutes.

3. FlexiCash

FlexiCash, which is owned by Palmpay, a prominent online banking app that allows its users to send and receive money, pay bills, buy airtime, invest, and do a variety of other things, allows you to get a quick loan in Nigeria without a BVN.

Palmpay’s loan app, Palmpay Flexi Cash, is available to both Android and iPhone users. This service provides a suitable loan amount based on your credit score/record utilizing Palmpay users’ details.

The higher your credit score, the bigger the loan amount you’ll be offered, and this trend will continue. Flexi Cash loans are available for 15 to 30 days and have a low-interest rate. The more you borrow and repay, the greater your next loan limit.

4. Aella Credit

Aella Credit is one of the most reliable loan apps without BVN in Nigeria. The app provides personal loans in five minutes or less, with no collateral, documentation, or guarantor required.

To obtain a loan from Aella Credit, simply download the app from the App Store or Play Store, create an account using your original information, and submit a loan application. The loan terms on this app are also excellent, as borrowers can enjoy very large loan amounts with a relatively long tenor, as well as juicy interest rates on every loan.

5. JumiaPay

JumiaPay is another genuine loan app without BVN in Nigeria and allows you to get low-interest loans in minutes. Using the app, you can obtain a large loan sum of up to 500,000 Naira.

Within minutes of applying, your loan is issued immediately into your bank account. JumiaPay loan requires no collateral or paperwork, just like the other loan app that does not require BVN.

6. Okash

Okash is yet another well-known loan app in Nigeria. This app provides personal loans without requiring a BVN. Okash processes loan applications fast and deposits loans straight into borrowers’ accounts if they are authorized.

Okash loans have reasonable interest rates and an extremely long-term. Okash loans include a flexible repayment approach that allows you to use different solutions.

Interest Rates of Top Loan Apps Without BVN in Nigeria

We’ve produced a table comparison of these platforms, highlighting their important features, terms, and conditions, to help you make a wise choice concerning best loan app without bvn in Nigeria.

Loan App Interest Rate Loan Amount
Carbon 5% to 15% Up to ₦20,000,000
Fairmoney 2.5% to 30% Up to ₦500,000
FlexiCash 5% to 28% Up to ₦50,000
Aella Credit 6% – 20% Up to ₦1,000,000
JumiaPay 3.5% Up to ₦100,000
Okash 3% to 30% Up to ₦500,000


In Nigeria, there are various platforms where you can receive loans without BVN. All you have to do is ensure that the app is genuine. You can choose from the list of Top Best Loan App without BVN in Nigeria above to protect your safety. Also, keep in mind that your Bank Verification Number (BVN) should be kept private, and you should be mindful about whose platforms you reveal it to.

Frequently Asked Questions about 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 App without BVN in Nigeria such as Carbon, Okash, Palmpay, Jumiapay, Aella Credit, and Fairmoney.

Do loan apps ask for BVN?

Yes, some loan apps ask for BVN while looking to take a loan from them. This is mainly to verify 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.

What is a Loan App without BVN?

A Loan App without BVN is a lending platform that offers loans without requiring the borrower to provide their Bank Verification Number (BVN).

Are loans without BVN safe?

Yes, a Loan App without BVN in Nigeria can be safe as long as you use reputable and reliable lending platforms. However, you should always be mindful before disclosing your BVN on any site other than the one you intend to use it on.

Why do Nigerian loan companies require a BVN?

The BVN database is a safe and secure way for loan apps to verify the identity of their customers and reduce the risk of fraudulent activities.

What is the best instant loan available in Nigeria without BVN?

There are several options available in Nigeria, including FairMoney, Aella Credit, JumiaOne, Carbon, and Okash. Each platform offers different loan amounts, interest rates, and repayment options. It is important to research and compare the different options to find the best one for your needs.

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