How to get a loan without BVN in Nigeria

Financial difficulties, cash flow issues, or crises can arise right when you least expect them, leaving you in need of a fast loan that doesn’t require your BVN. A bank Verification Number (BVN) is typically required before you can access the features and services of most financial platforms across the country.

The Central Bank of Nigeria (CBN) implemented the Bank Verification Number (BVN) program to safeguard consumer transactions and boost trust in the Nigerian banking industry and financial space. It entails identifying a person through physical or behavioural characteristics, such as a fingerprint or signature, among others.

If you are seeking the best loans without BVN in Nigeria, We are going to list about 5 of them below:

List of Top 5 Fast Loans Without BVN Providers In Nigeria

These are the list of the fast loan without BVN providers in Nigeria, just go for the one you prefer most, however, you can check the list of top 10 apps to take online loans in Nigeria here.

  1. OKash
  2. Renmoney
  3. Branch
  4. PalmCredit
  5.  CarrotPay


On our list of the 5 loans without BVN providers in Nigeria, Okash comes in first. If you’re seeking a fast loan without BVN in Nigeria, this is one lending app you should take into account.

You can receive an advance on Okash ranging from #3000 to #500,000. The payback time ranges from 15 to 91 days. Interest Rate: Daily calculations range from a minimum of 0.1% to 1%, 36.5% to 360% Annual Percentage Rate (APR). Origination Fee: A one-time fee ranging from NGN 1,229 to NGN 6,000.

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Blue Ridge Microfinance Bank Limited, which has been registered with and given approval by the CBN, owns and operates OKash.

Features Of Okash

1. Your credit card can be used to apply for a loan. No BVN, guarantees, or deposits are required.
2. Transfer up to 500,000 NGN to your bank account.
3. Digital and paperless workflow on your phone. You can complete every step online.
4. They never divulge your information to a third party without your permission.

2. Renmoney

Renmoney ranks second. It is a reputable lending platform. You can use Renmoney to easily borrow up to #6 million without BVN, collateral, or any other tangible documentation. The money can be used to cover expenses such as expanding your business, paying rent, purchasing a car, paying for school tuition, etc.

How to get the loan without BVN

  • Choose your loan tenure and amount, then provide some personal information.
  • Double-check the data you’ve given.
  •  If your loan is granted, sign your paperwork and receive the funds in your bank account within 24 hours.
  • You require a utility bill, a government-issued ID card, and your bank statement (optional). A BVN is not required to obtain a loan from Renmoney.

3. Branch

On our list of top loan providers without BVN in Nigeria, Branch comes in at number 3.

Your phone number, Facebook account, and Nigerian bank account number are all you need to apply for a branch loan.

Loan amounts range from #2,000 to #500,000 at Branch. 4 to 52 weeks are the possible loan terms. Interest rates are between 17% and 40%. With an equivalent monthly interest of 1.5% to 20% and APR of 18% to 260%, depending on your loan option.

There are no rollover or late fees, and no security is required. Your history of repayment and Branch’s cost of lending are two factors that affect interest rates.

4. PalmCredit.

Our fourth choice is PalmCredit, one of the few widely used credit methods that are at your disposal. Without the need for BVN, you can utilize PalmCredit to get a loan in Nigeria in a matter of minutes.

You can quickly and easily get loans ranging from #5,000 to #500,000. Additionally, it has a 7 to 180-day window term and an interest rate as low as 4%. They provide one of the lowest interest rates.

5. CarrotPay

Our 5th choice for the fast loan providers without a BVN in Nigeria that will meet your demands in an emergency is CarrotPay. You won’t have to worry about going through a lengthy process to acquire credit if you use the CarrotPay loan app.

The lending platform provides you with credit in the amount of N50,000 with a repayment schedule that lasts between 1 and 6 months. Additionally, they feature low-interest rates and prompt loan repayments.

CarrotPay offers loans starting at N5,000 and going up to N50,000 with terms of 60 to 180 days for repayment. Monthly payments are customary. The credit rating algorithm determines minimum interest rates, which are typically 3% per month and maximum

Getting a loan is however not as difficult as repaying them. To make loan repayment easier for you, check this resource that highlights the top loan platforms that allow Pay on instalments in Nigeria.

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