Instant Loan App Without BVN

Top Instant Loan App Without BVN in Nigeria – NG Job Alerts


Across the country, bank customers are identified by a code called a Bank Verification Number (BVN). Every customer who has registered and collected a BVN has a code, which is a sequence of integers that uniquely identifies them.

When used, the collection of numbers makes it quick and simple to identify the person to whom they have been given. In order to validate account information for banking, lending, and other financial transactions, this rapid identification can be employed.

The BVN’s identifying process is biometric-based. Simply said, biometrics refers to a system that verifies identity using bodily characteristics like fingerprints, facial features, and the like. All 10 fingers and a facial image will be gathered in this BVN case. It is a reliable form of identification because each human has a distinct fingerprint (no two people may have the same fingerprint).

Advantages of Owning a BVN

Having a Bank Verification Number has several advantages because, as was already said, it was developed to improve the security of bank accounts in Nigeria. The advantages comprise:

Account security against fraudsters; the BVN prevents unauthorized people from accessing the bank accounts of Nigerians; and Unique identity; the BVN makes it simple and quick to identify bank customers across all banks, regardless of the bank. It is acceptable as identification in any bank.

Protection for moneylenders; the BVN guards against clients who merely wish to borrow money without paying it back. This is a key factor in why the majority of lenders want a BVN before disbursing funds.

Top Legit Loan App in Nigeria Without BVN

Here is a list of some of the best websites/App in Nigeria where you can obtain loans without BVN:

1. FairMoney Loan App

Without requiring your BVN, supporting documents, collateral, or a guarantor, the FairMoney lending platform may provide you with immediate cash for any of your financial needs. Basically, this app allows you to borrow between ₦1,000 and ₦150,000 with a 2 to 12 weeks repayment schedule. Depending on your creditworthiness, you can borrow a certain amount of money.

2. Wema Bank’s ALAT Loan App

Get the ALAT app if you’re tired of your traditional commercial banks and want direct control over your finances.

Wema Bank, one of Nigeria’s national heritage banks, owns and manages ALAT, which is frequently referred to as the country’s first fully digital bank.

In addition to letting customers register full-fledged bank accounts, send and receive cash, and pay bills, ALAT App also gives customers the option of getting a free, personalized Naira ATM card and a virtual dollar card for usage at ATMs and online. Once you have these, you can access their loan without needing any further information like an ATM card or BVN.

Additionally, it enables users the option to request a loan instantly without filling out any paperwork or waiting for bank representatives to visit their physical location, and it offers customers 10% interest per year on savings made using the ALAT app.

It enables users to easily plan money transfers and bill payments as well as borrow up to ₦200,000 without the need for collateral or a guarantor.

3. JumiaOne Loan App

Another legitimate lending app that you can use without entering your BVN is the JumiaOne. Basically, you just need to scroll down to the “Financial Services” area and select “Loans” to get loans on this app. Your loan will be available to you in a matter of minutes after you have provided all the necessary information.

4. Carbon(PayLater)Loan Application

One more app you can rely on is Carbon, formerly known as PayLater. It provides more than simply instant loans and is owned by One Finance & Investment Limited. Aside from the fact that you may easily obtain loans with a tenor of between 7 and 180 days and a value of ₦5000 to ₦1,000,000, the site pays your loan promptly. They will credit your account 3 minutes after you submit your application to the portal.

5. OKash Loan App

Another trustworthy and well-liked platform for borrowing loans is the Okash lending app. Basically, Opay Digital Services Limited/Paycom controls the Opay mobile app, through which you can access this platform. However, Blue Ridge Microfinance Bank Ltd. is the exclusive owner and operator of OKash.

6. Aella Credit Loan App 

Another reputable website where you may obtain loans without BVN is Aella Credit. Basically, this customer-focused digital lending business provides customers with loans starting at N2,000 and up to N1,000,000. Additionally, their processing time does not take too long. Your account will be credited within 10 minutes of submitting your loan application.

7. Branch Loan App

Similar to Carbon, when you pay off your loan early on the Branch app, larger loan amounts become available.

The Branch app offers loans with terms of 4 to 52 weeks and amounts ranging from ₦2,000 to ₦500,000. Depending on the size of your loan, Branch’s APR ranges from 18% to 260%, with an equivalent monthly interest rate of 1.5% to 20%.

It’s interesting to note that Branch is free of late fees, rollover charges, and collateral requirements, exactly like Carbon. However, a number of variables, including your history of loan repayment and the Branch’s cost of funds, affect the interest rates on your loans.

Branch, one of the top lending apps in Nigeria, employs cutting-edge technology to analyze the data on your smartphone (of course with your consent) to determine your eligibility for a loan. Branch loan app is one of the fastest loan applications in Nigeria; the app’s algorithm analyzes thousands of data points and offers customised loan choices in a couple of seconds.

8. PalmCredit Loan App 

One of the greatest loan apps in Nigeria is Palmcredit. This online loan application offers quick loans.

It provides quick access to flexible credit products.

  • Range of credit limits: ₦2,000 to ₦100,000
  • Rate of interest: 14% to 24%
  • Monthly interest equivalent: 4% to 4.7% APR (annual percent rate): 48% 56% Loan terms range from 91 to 180 days.

You must register, receive approval within 5 minutes, and then the loan is disbursed to your bank account in order to obtain a loan through this app.

Read More: PalmCredit Quick Loan Login: Borrow up to ₦100,000 on Palmcredit Credited in 5mins

PalmCredit Loan App’s Unique Features

  • This platform promptly approves the loan.
  • There is no need for papers or collateral.
  • When you recommend a friend, you receive a bonus.
  • By using this app, you can make up to ₦80,000.
  • Your credit limit and interest rate will increase if you make on-time loan repayments or complete tasks.
  • 24/7 online assistance for any of your needs.

Visit Credit for additional details. instead, you can just download the app from the Google Play store

9. MoneyPal

One of the top loan apps in Nigeria is Money Pal. Customers can access loans without collateral thanks to this mobile loan app from Zedvance.

  • Loans amount: Up to ₦5 million 
  • No additional charges.
  • Loan terms: up to 24 months
  • 34.8% – 365% Annual Percentage Rate (APR)

How to Apply for MoneyPal

You must first click “create account” on the app and fill out the necessary information in order to apply for a loan.

Use the phone number associated with your BVN to register when requesting a loan on this app. If your loan application is granted, the money will be delivered to your bank account.

10. 9Credit Loan App

You can more easily obtain money from your peers with the help of 9Credit mobile lending app.

  • Cost-free registration
  • Loan is granted fast.
  • Amount of loan: ₦1000 to ₦100,000
  • Loan term: 91 to 120 days
  • APR: 14%

An individual must be at least 18 years old to be eligible for the loan.

email: [email protected]

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