How To Get A Loan Without BVN In Nigeria

In Nigeria, borrowing without BVN may sound almost impossible, especially if you are planning to receive a loan from a commercial organization without BVN.

One thing you should bear in mind is that most loan organizations that may eventually give you loans without the BVN requirement might actually require that you submit guarantees or collateral (which is a solid structure to stand on in exchange for your loan).

When getting approval for unsecured loans, the applicant’s profile, income, and solvency are still taken into consideration. Moreover, the lender is also expected to verify his capacity to borrow and repay in due time prior to applying.

The downside of this option is that a majority of the available loan organizations that are actually disbursing loans without BVN can be accessed only offline, and many of these lenders use harassing tactics to keep track of their borrowers to ensure that they pay back.

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There are many loan organizations in Nigeria where you can get instant loans. On the other hand, it is no news that the top-notch loan apps in Nigeria are ones that require that you provide your BVN prior to authorizing your loan and final disbursement.

So you may be searching to know if there are Nigerian loan applications that are providing loans without BVN, and you may wish to know how to get loans without providing your secret code (BVN).

How to Get a Loan Without BVN in Nigeria

1. By taking collateral-based loans

Most lending organizations may give out loans without specifying that you provide your BVN if you are able to provide valuable collateral, which may include but is not limited to your properties, vehicles, or other known assets. The collateral is needed to serve as a source of security for the loan so that the lender’s risk is lessened.

2. Borrowing from microfinance institutions

Most microfinance institutions are open to offering loans without strictly requiring that applicants provide their bank verification number (BVN). These institutions are fully bent on giving out financial services to low-income individuals as well as small businesses, and they may also offer a more flexible process flow for loan applications.

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3. Through peer-to-peer lending platforms

Peer-to-peer lending groups are designed to link borrowers directly with individual lenders. Other platforms may not have a requirement for the applicant’s BVN during the loan application process, although these platforms may use other means of verification that are set in place to make sure that the borrower is authentic.

4. Through informal lenders:

In some cases, you may try to borrow money from your family, friends, or any informal lenders who may give you a specified amount of money with no requirement for your BVN.

Nonetheless, it is important to start such transactions with proper precaution, and you should ensure that you fully understand the borrower’s terms and conditions.

The Best Sites or Apps to Get Loan Without BVN in Nigeria

1. FairMoney Loan App

FairMoney Loan Platform is a lending platform that offers you cash loans instantly for any financial needs of yours without the need to provide your bank verification number,  documentation, or collateral, while also giving you loans without a guarantor.

What is done here is basically that, via the app, you may be able to borrow money from them. You can borrow within the range of one thousand Naira (N1,000) to one hundred and fifty thousand Naira (N150,000). Fairmoney’s repayment period is usually set within two to twelve weeks.

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You should note that the maximum amount of loan you can get from this platform is highly dependent on the level of your creditworthiness.

2. The JumiaOne Loan App

JumiaOne is one sure loan app where you can visit to borrow money to fund your business and needs without needing to input your BVN.

Normally, when you want to access loans on this loan app, all you need to do is scroll down to the category where you will see  ‘Financial Services,” and once you get there, you can click on ‘Loans’.

Upon clicking, you should provide them with all the necessary information that is marked as required in the online form. You will get your loan within a few minutes.

3. The Carbon (Pay later) Loan Application

Carbon, which was the previous Pay later, is also another popular option if you are looking for a loan app that you can trust. This app was founded by a Finance & Investment Limited company in the country, and they offer more than just fast loan options.

With this app, you can readily get loans ranging from five thousand Naira (N5000) to a million naira (N1,000,000) with a repayment duration between seven and one hundred and eighty days.

The platform will not delay in paying the loan you are applying for. In just 3 minutes, or within a short space of sending your application to the platform, they validate your application, and in turn, they will credit your account.

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4. The OKash Loan Application

Okash Loan App is a legit platform to borrow money without BVN, and it is one of the popular platforms that people visit to get loans.

Normally, borrowers can access this platform using the Opay mobile app (note that the Opay mobile application is driven by Opay Digital Services Limited or Paycom). Nonetheless, OKash is fully owned and is running under the Blue Ridge Microfinance Bank Ltd.

5. The Aella Credit Loan App

Aella Credit is a platform where interested borrowers can visit to borrow funds without providing a BVN. Normally, this platform is operated as a user-centered digital lending platform that grants its users the ability to apply for loans, no matter how little they may wish to borrow.

You can apply to get loans as low as two thousand Naira (N2,000), and the maximum limit for borrowing here is up to one million Naira (N1,000,000). Additionally, their processing time range does not take much of your time. Within five to ten minutes after applying to get your loan, so long as you are eligible, you will be credited.

How can I spot fake loan applications in Nigeria?

Here are factors you should look out for as they are pointers to a possible loan application when you are applying to get a loan:

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  1. Unavailability of the app Google Play Store
  2. Abusive or unauthorized collection practices
  3. Check if the app is sanctioned by the standing financial authorities.
  4. Check if their website is unsecured.
  5. Check the customer feedback. Negative feedback suggests that it might be a possible scam loan app.
  6. If there are advance payment demands
  7. If they are asking for passwords and some of your sensitive details,
  8. When their loan conditions are not open
  9. When they have too many mouth-watering interest rates


There are different loan apps where you can borrow without BVN in Nigeria. However, you just need to be very careful not to fall prey to most of the fake loan apps that are advertised in different online outlets and even offline.

You should also be careful of platforms that charge high-interest rates because they can sell your details easily to third parties.

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