Are you looking for a quick loan, but you don’t have a BVN? Here are the best loan apps in Nigeria that let you borrow money instantly without BVN verification.
In this article, we will list out BVN-free loan apps in Nigeria that you can consider. You will also know how it works and how to borrow money.
Why Loan App Without BVN?
BVN is an important requirement in the financial system. Most banks and lenders use it for KYC before giving out loans. You may prefer loan apps without BVN because of the following reasons:
1. Privacy Concerns: You may fear data breaches, identity theft, or misuse of your BVN. That’s why BVN-free loan apps can be safer without privacy concerns.
2. Bad Credit History: BVN is linked to your credit report; lenders can reject you if your record isn’t good. To avoid this, you can consider apps that don’t require BVN.
3. Without a Functional Bank Account: Not everyone has a bank account or BVN in Nigeria. If you fall into this group, the only way you can access loans is through apps that can use alternative verification instead of BVN.
4. Speed and Convenience: Sometimes you just need money urgently. BVN-free loan apps are usually faster—some approve loans within minutes using just your phone number or NIN.
5. Avoiding Debt Tracking: Here’s another reason: your BVN is linked to credit bureaus. Your loan default can show up on your credit record and affect your future borrowing. With BVN-free apps your previous debts can be hidden.
Importance of BVN
Bank Verification Number (BVN) is an 11-digit number introduced by the Central Bank of Nigeria (CBN) in 2014 to help fight fraud, money laundering, and identity theft.
Here’s the importance of BVN:
Identity Verification: BVN helps loan apps to verify users’ identity.
Credit Assessment: It helps loan apps to assess creditworthiness and evaluate repayment risk.
Regulatory Compliance: BVN is one of the requirements mandated by CBN as a Know Your Customer (KYC) to prevent illicit activities.
Fraud Prevention: BVN helps loan apps to detect suspicious activities, such as getting multiple loans.
Without BVN, most licensed lenders will not be able to do the above-mentioned assessment—except for a few apps that can use alternative verification.
Migo is an online loan app in Nigeria that allows you to access quick loans without BVN. You only need to dial *561# on your phone and follow the on-screen prompts.
The Migo loan app allows you to get instant personal loans without collateral and within 2 minutes.
With Migo you can borrow from ₦500 up to ₦50,000 as a new user. Over time, as you borrow and repay on time, your loan limit can increase—but don’t expect to borrow up to ₦500,000 immediately as a first-time user.
To use Migo, you need to be 18 years or older, you need to have a bank account, and you need to have an active phone number.
So, if you’re looking for a simple and fast loan option, you can consider the Migo loan app; you can get a loan by just dialing *561# on your phone without the stress of BVN submission.
2. Okash loan app
Okash is one of the most popular loan apps in Nigeria, owned by Blue Ridge Microfinance Bank. What makes it loan app without BVN is its direct integration with Opay, a widely used mobile wallet in Nigeria.
If you have an Opay account, you can access a loan from Okash without BVN submission.
To borrow money without BVN, download the Okash loan app on the Google Play Store. Click on Sign in and put your phone number, then click on Forgot password—Okash will send you an OTP to reset your password. Log in and apply for a loan. With an active Opay wallet, you can apply for and receive loans from Okash without BVN.
Key Details (Okash Loan App)
App & Developer: Okash is operated by Blue Ridge Microfinance Bank in partnership with Opay.
Platforms: Available on both Android and iOS devices.
Requirements: Open to Nigerians aged 20–55 with a smartphone, valid ID (NIN, driver’s license, or passport), and an active bank account.
Loan Terms: Borrow between ₦3,000 and ₦2,000,000 with repayment periods from 91 to 365 days.
Interest & Fees: Monthly interest ranges from 3% to 15%, equivalent to about 36.5%–360% APR. For example, borrowing ₦3,000 for 91 days could attract about ₦273 interest (≈9.1%). While Okash states there are no hidden fees, many users report high costs if repayments are delayed.
UserReviews: Thousands of users praise the app for fast approval, simple sign-up, and quick loan disbursement. However, others raise concerns about high interest rates and repayment reminders.
Regulation: Okash is licensed by the Central Bank of Nigeria (CBN), making it a legitimate loan provider.
KashNow is one of the best online lenders without BVN that can offer small urgent loans within minutes. You can borrow between ₦5,000 and ₦30,000 without much documentation. It is ideal for those looking for an urgent loan of ₦10,000 without BVN.
Loan Amount: The loan amount ranges from ₦5,000 to ₦30,000 (first-time users) and up to ₦200,000 for salary earners.
Requirements: You need your phone number, valid ID, and salary account to access the loan.
Repayment Period: 30 days, which is one salary cycle.
Why It Stands Out: you can access a loan without a BVN if your salary is being processed via Remita.
KashNow is a product of UC Plus Advance Ltd., a subsidiary of United Capital Plc—a trusted financial services group in Nigeria. Unlike many loan apps, KashNow does not require BVN or collateral.
EaseMoni loan app can allow you to apply for a loan without submitting your BVN. Instead of BVN, it uses data from Opay to verify your identity. The app also uses phone data for preliminary credit scoring.
If you already have Opay account, you don’t need BVN to access Easemoni loan, since your identity has already been confirmed by Opay.
To borrow money from EaseMoni without BVN, log in to your Opay account (if you don’t have one, create one). Click on the loan section in the Opay dashboard, and you will be redirected to the EaseMoni loan service.
Easemoni also has an internal KYC system that doesn’t require BVN until you request higher loan limits or fail the basic checks. This means first-time users can access short-term credit without BVN.
App & Developer: EaseMoni is a digital loan app developed by Blue Ridge Microfinance Bank, the same company behind Okash. It is fully licensed by the Central Bank of Nigeria (CBN).
Platforms: Available on both Android and iOS devices.
Requirements: Open to Nigerians aged 18–60 with a smartphone, valid ID, and active bank account. BVN is not required during registration, as approval is based mainly on credit scoring and smartphone usage data.
Loan Terms: Borrow between ₦3,000 and ₦2,000,000 with repayment periods from 91 to 365 days. Interest rates range from 5%–10% monthly, which equals 60%–120% APR. For example, a ₦3,000 loan over 91 days may attract about ₦273 interest (≈5%).
Interest & Fees: EaseMoni offers slightly lower interest rates compared to Okash and emphasizes transparency. The app claims there are no hidden fees and highlights insurance protection and a commitment to data privacy.
User Reviews: Rated 4.7★ on Google Play from over 324,000 users. Many praise its fast approval, easy process, and quick disbursement, though some concerns from Okash (like strict repayment reminders) also apply.
Regulation: Licensed by the CBN through Blue Ridge Microfinance Bank.
Risks: Despite being user-friendly, EaseMoni has been linked to aggressive debt recovery tactics, such as repeated calls and threats. Defaulting may also lead to privacy issues or harassment.
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: Newedge Finance Ltd.
Platforms: Available on Android and iOS.
Requirements: You must be 18–60 years old. 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 ranges 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.
6. JumiaPay Loan (Stanbic IBTC / Jumia)
Why is JumiaPay a loan app without BVN? JumiaPay Loan allows customers to borrow without BVN because of its integration with Stanbic IBTC Bank. Through this partnership, it can access user identity and account verification from the users 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.
7. 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.
Loan apps without BVN come with advantages and disadvantages. Here’s a balanced look:
Advantages:
Application processes are quick, with just basic info like phone number, email, and ID (NIN).
It is best for those with low credit scores or no banking history, as lenders rely on other data like user phone data.
It is available for the unbanked or underbanked population, including rural dwellers or gig workers.
You can access loans without collateral.
Disadvantages:
High interest rates can range from 30 to 50% monthly.
Small loan amounts ranging from ₦5,000 to ₦50,000 are due to higher perceived risk.
Most BVN-free loan apps operate outside CBN regulation, leading to unpredictable terms and potential exploitation.
Borrowers can experience aggressive collection tactics, like public shaming via contacts.
How to Apply for a Loan Without BVN
To apply for a loan without BVN, you need to meet certain requirements, like you must be 18 and above, you must have a valid phone number, and you must have a means of identification like NIN. If you have met the above requirement, follow the steps below to apply for a loan:
Choose any of the above loan apps.
Download the app: Go to the Google Play Store to download and install the app, then sign up using your phone number, email, and NIN.
Provide the required basic information, like your employment info and proof of income (if required), and grant the app the necessary permissions to access your device data.
Select your preferred loan amount and term:Choose from available loan offers, and set your repayment periods (7-30 days).
Submit your loan application and await approval:Approval can be within minutes.
Make sure to review the terms: check the loan interest, fees, and penalties before accepting.
How Much Can You Borrow From Loan App Without BVN?
The amount you can borrow depends on credit scores and the loan app. Some loan apps can allow you to borrow from ₦5,000 to ₦10,000 for the first time. When you repay your loan, you can borrow up to ₦50,000-₦100,000.
Conclusion
You can borrow money from these loan apps—Migo, Okash, KashNow, EaseMoni, PalmCredit, JumiaPay, and YanZu Afrika— without BVN requirement during registration.
The above mentioned apps are ideal for first-time borrowers and those who don’t remember their BVN or don’t have it.
It is important to read and understand each app’s loan terms and repayment conditions before applying.
While these platforms can give loans without BVN, they are regulated by CBN and FCCPC.
These loan apps without BVN provide convenient access to funds, but you should borrow responsibly and ensure you can repay on time to avoid unnecessary fees.
Yes, it is possible to get a loan without BVN in Nigeria. Some digital lenders use alternatives like NIN, phone number, or third-party platforms such as OPay for identity verification. However, BVN may still be required later if you want higher loan amounts or longer repayment terms.
2. What loan apps give loans without BVN?
Some of the best loan apps in Nigeria that allow you to borrow money without BVN include Okash, EaseMoni, PalmCredit, JumiaPay, and YanZu Afrika. These apps use other forms of verification, such as mobile wallets, national ID, or phone numbers.
The loan amount you can access without BVN depends on the app and your creditworthiness. Generally, first-time borrowers can access between ₦3,000 and ₦50,000, but this limit can increase with good repayment history.
Loan apps without BVN can be safe if licensed by the Central Bank of Nigeria (CBN) and operate through approved microfinance banks. However, some apps may pose risks such as high interest rates, hidden charges, or aggressive debt collection practices. Always check user reviews and read the loan terms carefully before borrowing.
Disclaimer: Loan app requirements can change at any time due to updates in financial regulations or each app policies. Some of loan apps in this post may eventually request for your BVN. But the details shared here are accurate at the time of writing; we strongly advise you to confirm each app’s latest requirements from their official platform. We are not affiliate with any of these loan providers, and we cannot guarantee your loan approval or terms.
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