Are you looking for where you can get the loan instantly without dropping your Bank Verification Number (BVN)? Then this post will provide you with all the information your need on loan apps without BVN in Nigeria.
Getting a loan in Nigeria have lots of annoying processes. Some companies may ask for you to bring a guarantor before they can process your loan while others may not ask for it.
In recent times, most loan giving companies have succumbed to asking for user BVN numbers in other to process the loan.
The BVN is a Unique 11 digit number issued by banks to the customer which helps to connect all your accounts and serves as a means of digital identity to reduce cyber theft and money laundering.
The reason why most loan apps ask for a BVN number is to enable them to withdraw their money from your account if you can’t pay your money within the stipulated time given to you by the company.
Another reason is to avoid identity theft in processing loans which is very rampant now and used by scammers to borrow money with your details without your knowledge.
Contrary to this, they are still other reputable loan platform in Nigeria that doesn’t need your BVN to process your loans. This company only ask for your account number where the money will be sent and some little identity verification to know if you are the real owner of the account.
However, let me know list the top loan app without BVN in Nigeria and how to apply for their loan.
Loan App Without BVN In Nigeria
The branch is one of the leading loan apps in Nigeria. The loan app has been in existence for some years now and they have good reviews from people who have used and received loans from them before.
Branch gives loans to people without having any physical contact with the person. This means you can get the loan from your bedroom without any physical verification.
The good about it is that the Branch app doesn’t ask for your BVN in other to process your loan, they only require you to provide them with your valid phone number and account number.
They give an instant loan of N500,000 with a good interest rate which you can pay back within 14 days to years.
However, the interest increases based on the time duration you choose to pay back the loan.
To apply for the loan, you need to download the app from the Google play store or click here to register.
The branch is the number one loan app without BVN in Nigeria.
2. FAIRMONEY APP
Fair money loan is another leading platform that provides loans without asking for your BVN.
Fair money is a microfinance bank that provides other services apart from loans.
Loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%).
In processing a loan on the Fairmoney app, you don’t need collateral security or a guarantor to process the loan all you need is your credit card, account number and phone number.
Click here to start processing your loan now.
3. PALM PLAY CREDIT
Palm Play Credit is another trusted platform that gives free loans without asking for your BVN.
Palm credit offers loans ranging from 5,000 to 1 million instantly without any physical document verification. Each of the loans has its terms of payment and duration of payment which usually span from months to years.
Are you a business owner, or in need of urgent cash, then the Palm Play Credit is the best loan app without BVN in Nigeria that can give instant money to solve your worries.
To signup for the loans you need
- A verified and working Email Address and Phones Number(attached to your Bank Account).
- Working Account Number.
- A mobile phone and network.
If you have the above-listed requirement then click here to start processing your loan.
4. LC CREDIT
LC credit launched by CASHIGO is an instant personal loan app that helps with the required finance starting from ₦5,000 to ₦100,000.
The platform has been around for some time now and has lots of positive reviews on the Google play store.
The LC Credit is also among the top loan app without BVN in Nigeria. To sign up for LC credit is very easy all you need to do is to provide the following information on the platform.
- Your Bank Account Number and phone number.
- And Email Address
If you have all these requirements then proceed to apply here.
Carbon formerly referred to as Pay later is among the verified loan platform that doesn’t ask for BVN or any physical document.
You can easily get a loan from N5,000 to N1,000,000 which you can pay for a tenor of 7-180 days from the day you were credited.
One of the greatest advantages that Carbon has over other platforms is that it allows the user to earn 50% of the interest charged if they pay back within the stipulated time.
To process a loan on Carbon, you need to have a working phone number attached to your account number and an email address.
It doesn’t take up to 10minute to process your loan as it is instant approval.
Click here to start processing your loan.
Which APP Gives Loan Faster?
Each of the loan apps has a different processing time. The time to verify your identity and process your loan application differs too.
Meanwhile, other platforms are over fast in loan approval and processing.
Below is the list of apps that gives loan faster.
- Carbon with 3 minutes of processing.
- Branch with 5 minutes of processing.
- Palm play credit takes 7-10 minutes.
- LC credit takes 10 minutes.
- Farimoney 12-20 minutes
How Do I Borrow A Loan With USSD Code?
USSD Code helps you to apply for a loan without needing to connect to the internet or use a smartphone.In other to use the USSD CODE:
- Know the loan provider you are borrowing from.
- Get the functional USSD code of the platform.
- Meet all the required terms.
- Dial the code from your device.
- Follow the prompt and provide all the required information.
- Get your loan.
The above-listed platform is the best loan app without BVN in Nigeria that can give you loan instantly.
If you are applying for any loan on any platform you need to be very careful as they are lots of scamming platforms on the internet.
Do a verification check on each of the platforms and understand their terms before applying.
If you have been granted the loan, do well to pay it back before the due time because failure to do that will be mount criminal act.