Loan Apps Without BVN in Nigeria-branch/palmcredit

Loan Apps Without BVN in Nigeria – Many people ask – Is it possible to get a loan without BVN?

Well, they are some apps that provide financial services without requesting your BVN, unlike many banks in Nigeria, for one to be able to borrow money from them you have to give them collaterals and equally provide them with your national identities like ( Personal Assets, National Identity Number, Bank Verification Number >BVN< ) and so on…

The loan apps in this article will help you to easily obtain loans without BVN or collateral.  And many having obtaining loans from them for years now.

You might be contemplating how you can get the app and obtain a loan within a few minutes without collateral. Well, that’s what we are going to talk about in this article.

So, let’s get the ball rolling, we will be discussing the apps according to how they are ranked.

 The Top 5 Apps That Give Loans Without BVN in Nigeria

  Loan Apps Without BVN In Nigeria – Are you looking for where to obtain a loan without  BVN?  Probably, you may not have a BVN but you need a loan here in Nigeria. If your answer to the question is YES.  then read ahead and get the best answer and solution to your answer.

Unexpected circumstance always comes in. situations that weren’t planned for and that will require money to fix also takes place at any time.

and when this happens, you either ask your friends or family members to help you financially. and when it’s not forthcoming, they visit their bank to get a loan and solve the problem.

While taking a loan from your bank, it may seem easy, a really great idea or option. but it does have its policy or restrictions.

Also read Chipper Cash Login | Join Chipper Cash Now to Earn Big!

ZingHR HCM Solution | ZingHR Registration and Login

For instance, if you are not operating a salary account. For you to obtain a loan from your bank can be really very difficult and stressful and time-consuming.

while you have a problem that needs an urgent solution and no one has spare cash to lend you. What do you do? Do not lose hope.

for our modern world has made things easy for us to easily get most of the things we want at a spot. But based on what we are discussing in this article. luckily for you. there are financial institutions that are willing and ready to loan you cash.

and the goodie thing is that they don’t check if you are operating on a salary account or not.

However, most of the loan apps require your BVN to issue you a loan. which poses a problem for some who do not have BVN to fall into the wrong hands (scammers).  So, you cannot obtain loan from a loan app in  Nigeria without BVN

Discover the loan apps in Nigeria without BVN

Which loan apps in Nigeria gives loan without BVN? The answer to this question is pretty straight

for due to the difficulties and crime and untrustworthy of people everywhere. And that’s NO reputable loan app in Nigeria will be willing to offer you a loan without requesting your BVN.

You may ask why.

The answer is pretty straightforward. the BVN is used to obtain and verify your identity. Because without it, anyone could come up with fake names and forged details ( Credentials )to scam the company.

Moreover, they use the BVN to look up your credit history.  And if you are unlucky to have a bad credit history, they won’t offer you loans. It is also very important paperwork for loan apps in the event of default.

Is the loan app allowed to block my BVN?

Although many have been complaining about loan apps threatening to block their BVN. if you may wonder if that is possible for them to take such action. then NO is the answer. Your BVN can only be blocked by the Central Bank of Nigeria (CBN). On the other hand, no loan app in Nigeria can easily give you a loan without BVN

Also, read VULTe Login and Registration| Polaris Bank Digital Banking App

What happens next

So, you can be placed as a high-risk borrower if you fail to pay your loan. and your identity is being reported to the National Credit Bureaus. Which will then take the responsibility of labelling you as a high-risk borrower.

And this will make it difficult for you to obtain from any financial institution in future. Having a negative rating with the bureau may seem like trivia now.

But if you happen to plunge into financial debt and you are quick in need of cash. No Nigerian loan app will offer you a loan due to your poor credit history. This is why loan apps in Nigeria need your BVN to help them check your credit history before they can offer you a loan

This is why it’s important to always pay your loans. If you are having a hard time clearing your loan. you can contact the loan app for assistance in negotiating a reduction on your debt.

Loan Apps Without BVN in Nigeria – The Top 5 loan apps in Nigeria

Carbon (formerly PayLater) loan app

Carbon is a loan app that lends its clients up to a million naira without collateral, paperwork, or guarantors. These unique features have earned carbon the coveted title of being the best loan app in Nigeria.

Carbon is a Lagos-based, Nigeria platform that was founded by Chigioke and Ngozi Dozie. Thus, the loan app allows its users have access to finance. high-yield investment options, and convenient payment solutions.

Moreover, Carbon is regarded to be unique because if its clients are able to pay their loans off on time. the person will be eligible for cash back on the interest that the person pays.

More significant loan amounts, and chipper interest rates.

Furthermore, the platform has a reputation for being dependable as there are no late fees, processing expenses, and rollover fees.  You only have to pay what you owe.

A much sought-after feature lacking in many Nigerian loaning apps.


 This is ranked the second-best loan app in Nigeria.  similar to carbon, this platform unlocks a more significant loan amount when you pay off your debts on time.

The platform provides loans ranging from NGN 2000 to NGN 500,000 to be paid back between 4 to 52 weeks. The Branch annual percentage rate (APR) runs from 18% -260% depending on your loan amount. with an equal monthly interest rate ranging between 1.5%-20%.

As one of the best loan apps in Nigeria.  The branch uses smart technology to analyze your smartphone’s data on your approval to evaluate loan eligibility. The app’s algorithm processes thousands of data points.

And provides personalized loan alternatives in a matter of seconds, making it one of the fastest loan app in Nigeria.

Loan Apps Without BVN in Nigeria – Fairmoney

Fairmoney offers over 10,000 loans per day, making it one of the biggest loan apps in Nigeria, and the third best loan app on our list. This amazing loan platform offers loans ranging from NGN 10,000 to NGN 1,000,000 with payback terms ranging from 61 days to 547 days ( 18 months).

When you request a loan on the app, Fairmoney disburses the loan in five minutes or less. making it one of the fastest loan apps in Nigeria. Fairmony’s APR ranges from 30% -260%and a monthly interest rate of about 2.5%-30% which makes it one of the top low-interest loan apps in Nigeria.

Fairmoney being a Europe-based app. it has a high-reliability rating than a lot of loan apps in the instant loan sector because they adhere to European data security requirements. Additionally, Fairmoney is in fact one of the highest-rated Nigerian loan apps on Playstore.


palmcredit is one of the best loaning apps in Nigeria. This platform grants instant loans.

They offer flexible loan products within minutes.

Credit limit range; NGN 2000 to NGN 100,000

Interest rate; 14%-24%

Equivalent monthly interest: 4%~4.7% APR:  48%~56% Loan duration: 91-180 days.

You must register and get approval on this app.  Before you can be able to get a loan.  and once approved, the money is disbursed to your bank account within 5 minutes

No paperwork and collateral are required.

They equally give referral cashback when you invite a friend.

With that, you can earn up #80,000 on this app.

Early repayment as well builds up your credit limits and reduction in interest rates.

Loan Apps Without BVN in Nigeria – Money Pal

This mobile loan app is provided by Zedvance and grants customers access to loans without collateral.

It gives loans of up to #5 million anywhere, anytime with zero hidden charges

Loan tenors last for 24 months.

Annual Percentage Rate (APR):43%-365%

For you to obtain a loan on this app, you have to create an account. And proceed to provide relevant details.

One important thing to note when applying for a loan on this app is to use the phone number linked to your BVN to register and once your loan application is approved, the loan is sent to your bank account.

also, read   CBN TIES Loan Application Portal | Registration login portal

Chipper Cash Login | Join Chipper Cash Now to Earn Big!


You cannot obtain a loan from any financial institution without BVN in Nigeria.

is it possible to get a loan without BVN?

if you collect the loan from a friend or an association, you might not need a BVN because of the level of trust between you and your friends or the association.

Also, the loan can be collected from different sources, and this is the major factor that your BVN is required to check your credit score and how you handle your loan repayments.

Be the first to comment

Leave a Reply