Are you in urgent need of funds with no time to spare? Looking For quick loans without the stress of BVN or collateral? Look no further. Discover the list of reliable loan services in Nigeria that offer quick loans without BVN requirements.
BVN, or Bank Verification Number, is an 11-digit identifier crucial for banking security in Nigeria. Introduced by the Central Bank in 2014, BVN aids in fraud prevention and identity verification, pivotal for loan approval.
Here’s a comprehensive list of top-rated online lending platforms in Nigeria where BVN isn’t mandatory:
1. FairMoney
– Loan Amount: Up to ₦300,000
– BVN Needed?: No
– Approval Time: 5 minutes
– Interest for ₦10,000 for 2 months: 2%
– Application Process: Download the app, fill out the form, get a loan
2. OKash
– Loan Amount: Up to ₦50,000
– BVN Needed?: No
– Interest Rate: 10% to 24% per month
– Loan Duration: Up to 60 days
– Owned By: Opay Digital Services Limited
3. Carbon
– Loan Range: ₦1,500 to ₦1,000,000
– BVN Needed?: No
– Interest Rate: 1.75% to 30%
– Repayment Duration: Up to 64 weeks
– Approval Time: Quick
4. Jumia Pay
– Part of the Jumia e-commerce platform
– BVN Needed?: No
– Interest Rate: Starting from 3.5% per month
– Repayment Terms: 15 to 60 days
– Loan Disbursement: Instant
5. GoCash
– Loan Period: 61 to 180 days
– BVN Needed?: No
– Interest Rate: 33%
– Service Fee: 0%
– Loan Characteristics: Long-term, high-interest
6. Aella Credit
– Loan Amount: Up to ₦1,000,000
– BVN Needed?: No
– Approval Time: 5 minutes
– Interest Rate: Around 22%
– Loan Type: Online, no collateral
7. Quickteller
– Offers: Collateral-free loans
– BVN Needed?: No
– Interest Rate: Varies
– Loan Types: Short-term and mid-term
– Application Process: Easy, direct fund transfer
8. Eyowo Loan App
– Loan Amount: Up to ₦50,000
– BVN Needed?: No
– Interest Rate: 5% to 15%
– Loan Tenure: 30 to 90 days
– Special Feature: Use without a bank account
9. ALAT By Wema
– Loan Amount: Up to ₦2,000,000
– BVN Needed?: No
– Process: Fast, direct to account
– Specialty: Digital banking
10. PalmCredit
– Loan Range: ₦2,000 to ₦100,000
– BVN Needed?: No
– Interest Rate: 4% to 24%
– Loan Duration: Up to 6 months
– Application: User-friendly
11. GTBank App
– Features: Account management, loans, funds transfer, bill payments
– BVN Needed for Loans?: Not specified
– User Interface: Easy to use
– Specialty: Comprehensive banking services
– Loan Application: Included in the app
Summary:
Each platform offers fast access to funds without the BVN hassle, catering to various financial needs. However, apply caution and carefully review the terms and conditions before proceeding with any loan application. Always ensure you understand all financial obligations and repayment deadlines.
How To Get A BVN:
To obtain a BVN, simply follow these steps:
- Visit any bank branch in Nigeria.
- Provide your biometric information, including fingerprints and a facial photograph.
- You may also need to furnish additional documentation, such as a valid form of identification.
- Once enrolled, you will receive a unique BVN.
- Utilize your BVN to access your bank accounts and apply for loans.
The Finest Instant Loan Options in Nigeria Without BVN:
Here is an exhaustive breakdown of the leading online lending platforms in Nigeria that do not require a Bank Verification Number (BVN) input as of March 2024.