Through there are now many loan app in Nigeria, the fake and bad ones are getting increased they by day and the way to get free from this loan app is not to submit a bvn thus that is why it is important to know loan apps without BVN in Nigeria .
There are many loan app that deduct extra money from their user account even when they have paid up all their loan, this is possible because of the bvn and credit card they fill when registering on those loan company.
We at startupreneur look into it and conduct research to identify loan app in Nigeria that does collect bvn it was a surprise to see more than 10 loan company that does not require bvn and do you know what this loan app are not new they have proven to be good over the year, I’m sure you would have heard some of them from friends or family.
Note some of the loan companies that does not require bvn will ask for your ID card or ask you to take photo with the app.
Let get into business
Loan apps without BVN in Nigeria (instant, Easy and hassle free)
Jumia loan app
The first on our list of loan app without bvn in Nigeria is jumia pay a subsidiaries of Jumia; an ecommerce website in Nigeria, jumia pay deal with payment processing and with it you can also obtain instant and collateral free loan.
Their loan is easy and hassle free with just a tap on your phone the loan will be disbursed but of course you need to register with them.
They give out loan of up to #200,000 with interest rate of 5% to 30% depending on the amount requested and pay back period.
The pay back period is between 15% to 30%.
As a first timer the interest rate can be high but the subsequent one will be less.
To apply download the app on play store, register and apply for loan within 5 minutes your loan will be disbursed.
Aella credit loan app
Aella credit is an international loan app that has presence in Ghana, Nigeria and Philippines, they have been in existence for long, they do not require bvn before you can obtain a loan from them.
Aella credit give out loan of up to #1,000,000 without collateral or paper work, it is easy and hassle free you don’t need to go to their location just a tap on your phone.
Their interest rate depends on the amount of loan taking as well as pay back time.
You can download their app on play store or app store.
Once you register and apply for loan your loan will be disbursed in less down 20 minutes if your loan is approved, they check credit worthiness through a design algorithm.
Apart from loan Aella credit have features where individual and organization can invest with them and earn up to 15% interest rate per annum.
Eyowo loan app
Another loan company you can get loan from without bvn is Eyowo. Eyowo is a digital bank that use deferent approach, instead of giving out account number your phone number will act as one. They also give loan without collateral in Nigeria their loan is also hassle free.
You can obtain a loan either by downloading their app or using ussd code (*4255#) with this code you can also save receive and as send money, but you need to register first with the app.
Renmoney loan app
Renmoney give loan to both individual and business in Nigeria without bvn, their loan is quick, easy and collateral free.
You can loan up to 5 million naira from them and the minimum loan is #10,000 their interest rate is 2.8% per month and their payback time depend on the amount of loan taking.
Though they do not require bvn but they have a requirement you need to meet before your loan will be approved and they are
Be a Nigerian and above21 years if age
Have account with any bank in Nigeria
Provide statement of account.
Utility bill
Government issue ID card.
You can also save, invest , pay bill and transfer with Renmoney, you dont need to worry about loss they are insured by NDIC and licensed as microfinance bank in Nigeria.
Zedvance
Zedvance also give loan without requesting for bvn in Nigeria their loan is quick and hassle fee but as usual you need to meet up with their requirement before they can give you loan and they are
Government issued ID card
Statement of account spanning six months
Your Photograph
Employment ID card
Employment letter.
Zedvance give loan to SME, individual and salary earner in Nigeria and it is without guarantor or collateral.
Fairmoney
Fairmoney is another loan app without bvn in Nigeria, they are professional loan company that do not harass their customer nor call them out on social media.
With Fairmoney you can get up to #500,000 without collateral or guarantor and everything is done on the app no need of visiting physical location.
Their interest rate is between 15% to 30%, it will go down with subsequent loan, their payback period depend on the amount of loan taking but can go as long as 26weeks
To apply head over to app store or play store register with your details and apply within 10 minutes your loan will be disbursed.
Faimoney is mobile money therefore they have option to save, make transfer and bill payment they also give bank account to their user.
Okash
Okash is own by Opramini a popular web browser in Nigeria in conjunction with Blue Ridge Microfinance Bank Ltd. With Okash you can access up to #50,000 naira loan without bvn and it is collateral free.
Their interest rate is between 15% to 30% percent and the payback period is between 7 days to 60 days.
To apply head over to play store or app store, download the Okash app and request for the loan within minutes your loan will be disbursed it is easy and hassle free the interest rate will go down as you take loan and pay back regularly.
Carbon loan app
Carbon is another loan app without bvn in Nigeria; they are a professional loan company that knows how to handle defaulters without invading their friends privacy.
Carbon have presence in Nigeria and Ghana and with them you can access loan of #100,0000 naira without collateral or guarantor but of course as a fist timer you cant access up to this amount; it is a step by step once you take loan and back at appropriate time you will move up the ladder which means you will have access to more loan, also if you pay up your loan before the due date you will have reduced interest rate.
The pay back of carbon is between 7 days to 180days and their interest rate is between 15% and 30% depending on the amount of loan taking. Carbon is PCI DSS compliance so you should not be afraid of data breach, your payment details is encrypted even Carbon cannot see it.
Carbon also include saving, investing, money transfer and bill payment in their features if you invest with them you stand a chance if earning up to 20% interest rate annually.
Their app is available on paly store, app store, download it, register and apply within minutes of loan application your bank account will be credited, they are very fast.
Palm credit loan app
Palm credit is another loan app that does not require bvn or credit card before disbursing loan in Nigeria. They are fast and their loan is hassle free, you can get loan of up to #300,000 without collateral but as a first timer the loan you can access can be as low as #30,000 naira but as you pay up your loan regularly the amount you can access will increase.
Their interest rate can be as much as 24% and the payback period depends on the amount you loan.
To apply head over to play store or app store, download their app and register with your details and request for loan within minutes your loan will be disbursed.
Before applying for loan on palm credit I will advise you to have means of paying back because if you don’t they will invade your fiends privacy with an embarrassing message.
Branch loan app
Branch loan is a reliable loan app that does not require bvn before giving out loan. With carbon you can obtain up to #200,000 loan without bvn or collateral nor guarantor.
Their loan is fast once your application is approved your bank account will be credited in minutes.
Their interest rate is between 15% and 28% and their payback time can be as Kong as 40 weeks though it depend on the amount if loan request for.
When logging into the app for the first time Branch app will ask you to allow them to access you details on the phone don’t worry grant the access they just want to use it to calculate your credit score.
To apply you can download the app on paly store or app store, register and request for loan, the app is easy to navigate.
Branch loan also have feature where you can pay bill transfer and save. If you save with them you will have 29% interest rate annually.
Xcredit loan app
Xcredit loan is another loan app without bvn in Nigeria, their loan is collateral free and does need a guarantor. If you meet up with their requirement such as providing income statement spanning 3 months, valid email address, home address, phone number an d full name you are good to go.
They can loan you up to #200,000 and their interest rate depend on the amount you loan as well as payback time.
Their app is on play store and app store, download it and request for your loan.
Lcredit loan app
Lcrdit loan app is like Zedvance though they do not require bvn but their requirement is much if you can provide it your loan will be disburse in minutes after submitting application their loan is fast, easy and does not need a guarantor.
Below are their requirement
You must have a bank account with nay of the bank in Nigeria
You must be a Nigeria and reside in Nigeria
You must be between 18 to 55 years of age
Lcredit check credit score there for you must not have defaulted on any loan before applying.
Conclusion
Above are the lists of loan app without bvn in Nigeria, as stated in the introduction most of them require you to submit your ID card to replace bvn.
But it is still better than bvn which can be use by bad loan app to automatically deduct money from your account.
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