Most loan apps in Nigeria require your Bank Verification Number (BVN) before giving out loans. However, there are a few loan apps that let you register and even borrow without you providing your BVN at the initial stage. In this article, we’ll review these loan apps without BVN, explain how they work, and why they don’t require your BVN during sign-up.
Why Some Loan Apps Don’t Require BVN
BVN is used as a key identity verification tool in Nigeria. It helps lenders assess your financial history and prevent fraud. However, some loan apps bypass this requirement by integrating with third-party platforms or mobile wallets that already have verified customer data. Instead of asking for your BVN directly, they access your profile through third-party platforms that already have your data or internal verification systems.
Let’s look at a few examples.
Loan Apps Without BVN (2025 Review)
Apps to borrow money Without BVN
Some loan apps in Nigeria do not require your BVN during registration. Instead of asking for BVN, they use other ways to verify your identity. This could be through partnerships with platforms like Opay or by using the phone number you registered with a bank.
These apps have found other ways to confirm who you are, so you don’t need to verify your BVN before you can get a loan. Below are some trusted loan apps in Nigeria that allow you to borrow money without BVN.
1. Okash (Blue Ridge Microfinance Bank)
Why It Doesn’t Require BVN: Okash is a well-known mobile loan platform owned by Blue Ridge Microfinance Bank. What makes it different is its integration with OPay, a popular mobile wallet in Nigeria. If you have an OPay account, your identity has already been verified by the wallet, including KYC procedures involving your BVN.
This allows Okash to bypass the BVN requirement during sign-up. It uses data directly from your OPay account, like your name, phone number, and transaction history, for risk assessment and verification. So, users who has Opay account can access Okash loan without BVN.
Key details:
App & Developer: Okash is owned by Blue Ridge Microfinance Bank in partnership with OPay.
Platforms: Available on Android and iOS.
Requirements: Open to Nigerian aged 20–55 with a smartphone, a valid means of identification (such as a national ID, driver’s license, or passport), and an active bank account.
Loan Terms: Loan amounts range from ₦3,000 up to ₦2,000,000 with repayment terms between 91 to 365 days. Interest is charged at 3% to 15% per month, calculated daily—equivalent to about 36.5% to 360% annual interest.
Interest & Fees: Interest can be high. For example, a 91-day loan of ₦3,000 could attract ₦273 in interest (about 9.1%). Okash claims there are no hidden fees and that customer data is not shared without consent. However, users report very high costs when payments are delayed.
User Reviews: The app has a high rating from thousands of users who praise its fast approval, simple registration, and quick disbursement. Positives include loan amounts of up to ₦2 million and no hidden fees. Negatives review include complaints about aggressive debt collection, including repeated calls and contacting people in a borrower’s phonebook. Some users also describe poor customer service and lack of clarity around late-payment charges.
Regulation: Okash is licensed by the Central Bank of Nigeria.
EaseMoni is another loan app that may allow users to register and apply for a loan without their BVN, it can use data from Opay to verify their customer or phone data, device information, and contact list for preliminary credit scoring.
If you have an OPay account, you don’t need to submit your BVN for identity verification because your identity has already been verified by OPay.
The app also has an internal KYC system that often delays BVN requests until the user seeks a higher loan tier or fails basic verification checks. This makes it possible for someone to access short-term credit without BVN, especially during the first use.
Key Review
App & Developer: EaseMoni is a digital loan app developed by Blue Ridge Microfinance Bank, the same company behind Okash and is licensed by the Central Bank of Nigeria (CBN).
Platforms: Available on Android and iOS devices.
Requirements: Applicants must be Nigerian between 18–60 years old, with a smartphone, valid ID, and a bank account. BVN is not required during the application process. Approval is mainly based on credit scoring and smartphone usage data.
Loan Terms: Loan amounts range from ₦3,000 to ₦2,000,000 with repayment periods between 91 and 365 days. Interest rates range from 5% to 10% monthly, equivalent to an annual percentage rate (APR) of 60%–120%. There are no origination or processing fees. For instance, a ₦3,000 loan over 91 days may accrue around ₦273 interest (about 5%).
Interest & Fees: EaseMoni offers lower interest rates compared to Okash, with a strong focus on transparency. It claims there are no hidden fees, and also highlights insurance protection and a commitment to data privacy.
User Reviews: With an average rating of 4.7★ from over 324,000 users on Google Play, the app is praised for being fast, easy to use, and clear in its terms. Many users report instant disbursement and straightforward repayment plans. However, as it’s operated by the same provider as Okash, some concerns may carry over.
Regulation: EaseMoni is approved by CBN through Blue Ridge Microfinance Bank.
Risks: While EaseMoni appears more user-friendly than similar apps, users should exercise caution. Like Okash, the app has been linked to aggressive debt recovery tactics, including repeated calls and threats. Defaulting may lead to privacy breaches or harassment despite the app’s assurances.
PalmCredit is another loan app that can allow users to apply for loans without BVN at the initial stage. It uses phone numbers tied to your BVN to verify your identity and financial behavior.
Key Review:
App & Developer: PalmCredit Loan app is developed by Goldman PalmCredit, a part of the Opera/PalmPay group, and managed by Newedge Finance Ltd.
Platforms: Available on Android and iOS.
Requirements: Open to Nigerians aged 18–60. You can register and apply without submitting your BVN. The app uses its own internal credit scoring system, especially if you already have a PalmPay account.
Loan Terms: First-time borrowers can access up to ₦100,000, while returning users may get up to ₦300,000. Repayment terms range from 91 to 365 days. Interest rates typically fall between 24% and 36% APR. For example, borrowing ₦100,000 for 6 months may cost around ₦18,000 in interest. No collateral or paperwork is required.
Interest & Fees: PalmCredit charges no hidden or transaction fees. Monthly interest ranges between 3% and 4.7%. The app also claims not to share user data with third parties and uses encryption to protect information.
User Reviews: Rated around 4.5 stars with over 200,000 reviews. Users praise the app for quick loan approval and transparency in charges. However, some complain about unnecessary permissions like Bluetooth access. Interest rates are higher than banks but better than many other quick loan apps.
Regulation: PalmCredit is run by a licensed microfinance institution and is compliant with Nigerian financial regulations.
Risks: The biggest concern is the high interest rate. Also, the app asks for some permissions that may not be necessary. However, there are no major reports of aggressive recovery tactics.
4. JumiaPay Loan (Stanbic IBTC / Jumia)
Why BVN is not required: JumiaPay Loan allows customers to borrow without BVN because of its integration with Stanbic IBTC Bank. Through this partnership, they access user identity and account verification services tied to their bank accounts and existing customer data.
Key Review:
App & Developer: The loan feature is part of the JumiaPay wallet app, provided in partnership with Stanbic IBTC Bank.
Platforms: Only available through the JumiaPay Android app.
Requirements: To qualify, users must have a verified JumiaPay account and a linked bank account. The app offer fast process with “no paperwork.” BVN is not requirement, but being a bank-regulated product, background KYC such as BVN verification may occur.
Loan Terms: JumiaPay offers loans up to ₦500,000. Interest is low and affordable, although the exact rate is not always shown upfront. Loans usually come with 30- or 60-day repayment periods. Repeat users may receive higher credit limits and better rates.
Interest & Fees: The platform offer “low interest rates” and no collateral. On average, monthly interest rates range from 5% to 7% of the loan amount. Late fees and rollover penalties are not clearly listed.
User Reviews: There is no dedicated rating for “JumiaPay Loans,” but users have shared mixed experiences. Many appreciate the convenience, while others mention higher interest if the loan is not repaid on time. Being a bank-backed product, collections are more professional, and credit defaults may be reported to credit bureaus. Some borrowers were surprised by undisclosed fees, as loan details are only shown after approval.
Regulation: The service operates under Stanbic IBTC Bank, which is fully licensed by CBN and FCCPC. It is considered a legitimate credit facility.
Risks: Since it’s bank-backed, JumiaPay loans are generally safer than many unregulated fintech apps. Still, borrowers should watch for hidden charges, rollovers, or penalties. Delayed repayment may lead to reminder calls and higher costs. The major risk is the interest buildup if the loan is not repaid within the due period.
5. Yanzu Afrika (Indiefinance Company Ltd.)
YanZu Afrika, developed by Indie Finance Company Ltd, like the mentioned loan apps without BVN, it uses other alternative ways to verify their customer without BVN. It doesn’t request BVN during registration, instead relying on internal credit-scoring algorithms, phone metadata, and user information to assess creditworthiness.
Key Review:
App & Developer: Yanzu Afrika is a Nigerian loan app developed by Indiefinance Company Limited.
Platforms: The app is available on both Android and iOS platforms, with thousands of downloads across both stores.
Requirements: To apply, you must be a Nigerian resident between the ages of 18 and 55. The app does not require your BVN during registration. Instead, it asks you to link a bank account for loan disbursement. Yanzu uses internal credit scoring methods rather than traditional BVN-based verification.
Loan Terms: Yanzu offers small personal loans ranging from ₦5,000 to ₦80,000, with repayment terms between 61 and 180 days. The daily interest rate is very low (between 0.04% and 0.08%), translating to about 1.2% to 2.4% monthly. The maximum annual percentage rate (APR) is around 35.18%. For example, borrowing ₦10,000 for 120 days results in a total repayment of ₦10,700.
Interest & Fees: Yanzu stands out for its low fees and transparent pricing. Apart from a 1% service fee, there are no hidden charges. The app is among the most cost-effective loan platforms in Nigeria.
User Reviews: Yanzu has received mostly positive feedback from users. Many praise the low interest rates, clear loan terms, and fast disbursement. It also has a high app store rating and is commended for having responsive customer support.
Regulation: The app claims to comply with all financial regulations and emphasizes secure transactions. Yanzu operates legally under Indiefinance’s finance company license and is not listed among banned or flagged loan apps.
Risks: Yanzu loans come with relatively low financial risk due to their small size and affordable terms. However, failure to repay can still hurt your credit score. While the app requests access to your contacts for security purposes, it is advisable to limit permissions when possible. Unlike many other apps, Yanzu does not have a history of aggressive collection practices, making it a safer option for borrowers.
Conclusion
Loan apps like Okash, EaseMoni, PalmCredit, JumiaPay, and YanZu Afrika have ways to verify their users without using BVN. And it can be helpful for first-time borrowers or users who didn’t remember their BVN during sign up process. However, make sure to go through each app’s privacy policy and terms. While these apps make access to quick credit easier, they still follow regulatory expectations for BVN verification.
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