6 Best Loan Apps Without BVN in Nigeria 2025

Most loan apps in Nigeria require your Bank Verification Number (BVN) before you can get a loan. However, there are a few loan apps that doesn’t require BVN, that let you register and borrow money without you providing your BVN during the loan application. In this article, we’ll review the top 5 best loan apps without BVN, also explain how they work, and why they don’t require your BVN during sign-up.

What Is BVN, and Why Do Loan Apps Request It?

BVN (Bank Verification Number) is an 11 digit number that was given to you when you first opened a bank account.

BVN was introduced by CBN in 2014 with the purpose of helping banks curb fraud, money laundering, and identity theft.

Below are reasons why loan apps  requested your BVN:

• Identity Verification: BVN helps loan apps to verify user identity.
• Credit Assessment: Loan apps also use BVN to access creditworthiness through credit bureaus, helping them to evaluate repayment risk.
• Regulatory Compliance: BVN is one of the requirements mandated by CBN as a Know Your Customer (KYC) process to prevent illicit activities.
• Fraud Prevention: BVN helps loan apps to detect suspicious activities, such as getting multiple loans.

Without BVN, loan apps and commercial banks may not process loans, as it is one of the necessary requirements for digital lenders.

Why Some People Are Looking for Loan Apps Without BVN

Despite the above importance of BVN in Nigeria, many Nigerians are looking for loan apps that don’t require BVN due to the following reasons:

• Privacy Concerns: Some people think that sharing their BVN will lead to data breaches or misuse. That is why most people don’t want to share it; instead, they are looking for a loan app without BVN.
• Bad Credit History: Another reason why some people avoid using BVN to get a loan is due to bad credit scores that are linked to BVN. With their BVN, many loan apps can deny loans, pushing them toward alternatives that skip credit checks.
• Lack of Bank Account: There are some who don’t have BVN or a bank account; due to this, they are looking for apps that are using alternative verification like phone numbers or national IDs.
• Urgency and Convenience: Loan apps without BVN are fast and sometimes within minutes.
• Avoiding Debt Tracking: Some borrowers want BVN-free loan apps to avoid their debt from appearing on official credit reports, which could affect future borrowing.

How Do Loan Apps Without BVN Work?

Digital lenders are using BVN for identity verification in Nigeria. With BVN, loan apps assess your financial history to prevent scammers or fraud. But there are some loan apps that can give loans without BVN; these apps use NIN, phone number, or third-party platforms to verify your identity. These apps, instead of BVN, use third-party platforms that have your personal data to verify your profile.
Loan apps without BVN mostly use your NIN or phone number to verify identity and creditworthiness. Let’s look at a few examples.

5 Best Loan Apps Without BVN in Nigeria (2025 Review)

Loan apps without BVN in Nigeria are mobile applications that allow users to access loans without requiring them to provide their Bank Verification Number (BVN).

Instead of BVN, this app uses other ways to verify your identity. This can be through third-party platforms like Opay or NIN and a phone number linked to a bank.

Below are some of the best loan apps in Nigeria that allow you to borrow money without BVN.

1. Migo Loan App

Migo is another loan app in Nigeria that can allow you to access quick loans. With Migo you can get a loan without submitting your BVN. You only need to dial *561# on your phone and follow the on-screen prompts.

Migo loan app allows you to get instant personal loans without collateral and within 2 minutes.

Migo loan amounts range from 500 to 500,000, but you can borrow from ₦500 up to ₦50,000 as a new user. Over time, if you borrow and repay on time, your loan limit can increase—but don’t expect to borrow up to ₦500,000 immediately as a beginner.

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 and access funds without the stress of BVN submission.

2. Okash (Blue Ridge Microfinance Bank)

Why Okash is a loan app without BVN: Okash is one of the best loan app in Nigeria owned by Blue Ridge Microfinance Bank. What makes it a loan app without BVN 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.

Read more: Okash Loan App Review (loan amount, interest rate, download, and it is legit)

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.

See Also: 7 Best Loan Apps Without Face Verification in Nigeria (2025)

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.
• Regulation: Okash is licensed by the Central Bank of Nigeria.

You can download Okash loan app here

Read more: loan with NIN and phone number only without bvn

3. EaseMoni: Loan apps without BVN

EaseMoni is another loan app that can allow you to register and apply for a loan without your BVN; it uses data from Opay to verify user identity. It also use 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 in EaseMoni since your identity has already been verified by OPay.

Read more: EaseMoni Loan App (Review, Alternative, and Is EaseMoni Approved by CBN?)

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.

See Also: 5 Best Loan App with NIN in Nigeria 2025

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: It has 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.

Loan app without BVN: Easemoni loan app, click here to download it

4. PalmCredit loan App

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.

5. 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.

6. 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.

Advantages and Disadvantages of Loans Without BVN

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 with 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

The loan apps mentioned above—Okash, EaseMoni, PalmCredit, JumiaPay, and YanZu Afrika—can give loans to their users without using BVN. And it can be helpful for first-time borrowers or users who didn’t remember their BVN during the sign-up process. However, make sure you 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.

See Also: 7 Best Loan Apps Without Face Verification in Nigeria (2025)