The Bank Verification Number commonly called BVN is a biometric identification system implemented by the Central Bank of Nigeria to curb or reduce illegal banking transactions in Nigeria.
It is a modern security measure in line with the Central Bank of Nigeria Act 1958 to reduce fraud in the banking system.
The BVN or Bank verification number is an 11 digit number that is unique to each individual, but the same across all bank institutions for the same individual.
Can I Get A Loan Without BVN Verification?
Yes you can apply for a quick cash loan and it will be disbursed straight into your bank account in less than 24hrs.
Some loan apps and websites offering online loan without bvn requires just your ID, Account Number, Phone Number, Address.
Where Can I Get A Loan Without BVN?
There are four places where you can apply for a quick loan without Bvn in Nigeria:
• Get Loan Without BVN From Loan Apps
Fintech loan apps in Nigeria is our no 1 source for getting a loan without Bvn. Some of these loan application requires only passport and your bank account number before they can issue a loan to their customer.
• Get A Loan Without BVN From Private Lender’s
There are hundreds of private money lenders located at every city of Nigeria and a good example of them is the Lapo Loan Etc…
These Private money lenders in Nigeria can lend upto N5 million loan without Bvn, just fill in their form and sign then the loan amount will be credited to your account in less than 24hrs of approval.
• Get A Loan Without BVN From Loan Website
Over 100s of loan website online that are willing to lend you the loan amount you needed without Bvn or collateral.
Once you have a bank account, email address and a valid ID card with phone number then you are eligible to apply for their loan application.
Once you have a valid ID card ( Voter’s ID or Driver’s license) With your email address and phone number then you can apply for a loan through loan apps in Nigeria or websites.
Top 10 Loans Without BVN In Nigeria
• Branch Loan
Branch is the world’s leading mobile banking and personal finance loan app that provides you access to instant loans without Bvn or any collateral or physical documentation through the Branch loan app.
Branch Loan Requirements are simple – all you need to apply is your phone number or Facebook account, and bank account number.
Branch Loan will also request access to the data on your phone in order to build your credit score.
Branch uses data from your phone, including your handset details and SMS messages to automatically make lending decisions.
They combine this with your Branch repayment history to build an individualised credit score, which determines the loan offers you receive.
• Xcredit Loan
Xcredit is a mobile application platform developed by a fintech company based in Lagos.
The platform is strictly online loan app in Nigeria, although they do have an office in Lagos Nigeria. You do not have to visit their office to enjoy their services.
The Nigeria loan application is hassle free loan without Bvn or any collateral. Here are few documents needed to apply for Xcredit loan:
• Your Phone Number
• Your Email Address
• Your Full Name
• Your Bank Account Number
• You need to be at least 18 years
• Your Last 3 Month Statement Of Account etc…..
• Lcredit Loan
LCredit is one of the unique Fintech platforms in Nigeria offering a 24hrs loan through their loan application.
You should be a Nigerian for Lcredit to provide you with finacial mobility whenever for whatever.
Here are the basic conditions for applying for loan using LCredit?
• You must be a Nigerian who lives and stays in Nigeria,
•You must be at least age of 18-55 years old.
• You must have a bank account
• You must not have any outstanding loan credit from any fintech platform..
• Zedvance Loan
Zedvance is a CBN-license financial service provider founded in Nigeria. They gives out quick loans to salary earners, self employed, SMEs and entrepreneur’s in Nigeria looking to take their business to the forefront of the market, in the most efficient and convenient manner.
Requirements for Zedvance Loan are:
• Provide any valid means of identification (National ID, international passport, driver’s license).
• One passport photograph.
• Recent 6 months bank statement of account.
• Employment ID Card.
• Employment letter.
• If you are an outsourced employee or your employment has not been confirmed, you will be required to provide a guarantor who must be a permanent staff of a firm and must have capacity.
• Quickteller Loan
Quickteller is a financial service application that enables you to make online transactions like sending and receiving money, airtime, paying bills etc. The digital payments company, Interswitch developed and maintain this web application.
Interswitch is a digital payments and commerce company. They facilitate electronic payments and value of exchange between individuals and organizations across Africa.
Quickteller Loan Application both on website and mobile app provides an excellent user’s experience which makes it easy to navigate and convenient to use for their customers.
In terms of trust, Quickteller Loan is very reliable and transactions are secured with two factor authentication with a zero fee charges on their services.
• Renmoney Loan
Renmoney is a Fintech lending company operating on a microfinance banking license in Lagos, Nigeria.
They provide loans without Bvn or collateral to individuals and small businesses through their website Renmoney.com and has been regulated by CBN, insured by NDIC.
There are some certain documents / requirements needed for quick approval before applying:
√ You must be above the age of 21 – 59 year’s old
√ You must have a verifiable source of income
√ Live and work in cities where Renmoney is operated
√ Have a savings or current bank account with any commercial bank
√ Statement of your bank account
√ An utility bill
√ A government issued ID card..
Wrapping Up On Loans Without BVN
The above list of loan apps without Bvn and platforms offering quick loans without BVN is 100% accurate as at the time of writing this.
You can drop a comment in the comments section of you have a list of Loans without Bvn that you will love us to add to the list.