Loan Without BVN In Nigeria In 2022

Getting a loan without BVN, is that possible? A lot of people are searching for how to get loans without BVN. Some are skeptical if it is possible to get a loan in Nigeria without BVN. 

Continue reading to find out how you can get quick loans here in Nigeria without providing your bank verification number.

Most Fraudsters are using the BVN to perpetuate different criminal acts on the account of their victims, as a result of this, a lot of people are scared when they see any money lending app asking for their bank verification number.

Getting a loan using collateral has become a thing of the past which traditional banks and money lending companies use for risk management and a guarantee that the debtor will pay back.

Today, the case is different as people can now get quick loans without having to use any of their assets as collateral, sign any paper agreement or leave their comfort zone to visit a financial lending company to get loans.

Getting this loan has become easy because most lenders today use the bank verification number (BVN) to evaluate their customers through the help of AI tech and machine learning technology.

This technology allows the money lender to know your credit score, your debt record and confirm if you’re defaulting on any loan or if you have a bad debt record.

The Bank Verification Number serves as an important criterion for giving out loans today. But the question remains.

Is it possible to get a loan without BVN? this question has been asked countless times by our readers at loan publishing. So I decided to write about it today.


Loan Without BVN

Also Read: Auto loans In Nigeria

What Is BVN

BVN stands for bank verification number, a system introduced by the central bank of Nigeria to combat money laundering in Nigeria. The bank verification number links all bank accounts owned by an individual here in Nigerian and it allows the bank to have the ability to monitor the activities of these bank accounts across every platform.

The same BVN is also regarded as Biometric Identification System which is given to each and every account holder in Nigeria. The BVN is unique to everyone and the same across each bank being operated by that person in Nigeria.

Importance Of BVN

The BVN serves as a means of establishing one identity across the various banks in the country in other to fight against money laundering and other financial crimes in Nigeria. The BVN plays an important role in combating fraud and creating a means of tracking each and every transaction taking place in the banking sector. With this, all transactions will be safer when all protocols have been met.

This has helped in strengthening the financial security in Nigeria and it has also created an avenue where secured transactions can take place.

Also Read: Government Loans To Start Business

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Can I get A Loan Without BVN?

The answer is yes, you can get a quick loan without actually providing your bank verification number. Most of these loan apps companies that offer quick loans without asking for BVN only ask for important and basic information such as name, account number, address, and a means of identification such as national identity card, international passport, or voters card.
If you can provide that basic information, you will automatically get your loan within 24 hours of requesting a loan.

Where Can I Get A Loan Without BVN?

In this article, we’ll look into four major places where you can secure a quick loan without collateral and without bank verification numbers.

These platforms and companies that offer loans without BVN know the fear of the people when it comes to inputting their BVN into an app or website.

Because of that, they ensure that they introduce another means where you can get a loan without actually providing your bank verification number (BVN).

Below are the places where you can get a quick loan without a bank verification number

  • Loan without BVN from Loan Apps
  • Loan without BVN from loan websites
  • Loan without BVN from private lending companies
  • Loan without BVN using USSD code

Also Read: LAPO Microfinance Bank


Loan Without BVN from Loan Apps

A lot of fintech companies are emerging every day in Nigeria and some of them ask for BVN before giving out loans while others don’t. But we’re going to focus on those that offer loans without bank verification numbers. These loan apps which we’re going to discuss will only need basic information such as your name, account number, address, and your passport.

Loan Without BVN from Loan Websites

A lot of legitimate websites are out there to offer quick loans without you providing your bank verification number. Once you’re able to provide the information they need from you, they will offer you the amount you requested.
We have hundreds of them out there but we’ve taken our time to handpick the best of these loan websites that are ready to offer you loans without BVN.

Loan Without BVN from Private Lending Companies

There are a lot of private companies giving out loans without asking for BVN or collateral. These companies operate as independent financial institutions or money lenders.

Loan Without BVN Using USSD Code

USSD Code is another great way to access financial services such as taking loans without collateral or bank verification number.
You can also read our previous article on USSD codes for quick loans without BVN in Nigeria.

How To Get Loans Without BVN

To apply for a quick loan without using your Bank Verification Number here in Nigeria, you’ll need to provide the following information and document.
  • Valid means of identification such as International Passport, national identity card, voters card e.t.c
  • Full details such as date of birth and other personal information about you
  • Valid bank account number
  • Valid email address and phone number


Loan Companies And Apps That Offer Loans Without BVN (Top 6 List Of Loan Companies Offering Loan Without BVN)

Below is the list of the Top 5 loan companies offering loans without asking for bank verification numbers  (BVN) in Nigeria.
Lcredit Loan
Xcredit Loan
Branch Loan
Quick Teller Loan
Ren Money Loan

LCredit Loan

Lcredit is a money lending mobile application that allows users to borrow money without using any of their assets as collateral.

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How To Sign Up On Lcredit

Applying for a Lcredit loan is pretty easy and straightforward. Just follow the simple steps below to get started with your Lcredit account.

Step 1

You need to download the Lcredit loan app in other to proceed with your registration. The Lcredit application is available on the play store for download. You can also download the APK version of the Lcredit loan app from HERE

Step 2

Fill in your information by providing your BVN. (Make sure you enter your real information if you want to get a loan from the app).

Step 3

Get approval and apply for a loan.

Step 4

On successful application and approval, your loan will be disbursed

Also Read: Zenka Loan App

Requirements For Lcredit Loan

As I have mentioned above before, the Lcredit loan app does not require any document, collateral, any document, or requires you to provide any guarantor before getting a loan.

The app only requires you to be an adult from 20-55 years in other to get a loan. If you’re a minor, you cannot get a loan from the Lcredit loan app.

The Lcredit loan requires you to be a citizen of Nigeria and also residing in Nigeria before you can apply for a loan of any amount.

Pros Of Lcredit Loan

Lcredit has a lot of pros which makes the app another great lending app. These are;
No need for collateral
No paperwork involves
No need to visit their office
Loans are disbursed almost instantly without delay

Cons Of Lcredit Loan

As of the time of writing this post we only saw a few problems with the Lcredit loan. These problems are;
Lower Loan Offer
If you’re looking for a higher loan offer, then a Lcredit loan is not for you. The app only offers as low as N5,000 to N50,000 only.
No Physical Address.
As of the time of writing this article, we couldn’t ascertain the physical address of the Lcredit loan. All we know is that the business is operated from Lagos, Nigeria. You can read our full Lcredit Loan Review

Xcredit Loan

XCredit is a mobile application that allows you to take a quick loan without collateral or a bank verification number. The app was developed by a fintech company in Lagos with the aim of simplifying the way people can access loans.

The XCredit Loan app is only available on the Android operating system as of the time of writing this article. The app uses your device algorithm such as SMS history to verify identity and determine a credit score.

How To Apply For Xcredit  Loan

Applying for XCredit Loan is very easy and straightforward if you follow the step below.


Visit Google Play Store to download the XCredit Loan App

Step 2

Create a free account by filling in your real details (Anything other than your real details, the loan will be rejected and tagged as a fraud).

Step 3

Receive your loan straight into your bank account

Pros Of Xcredit  Loan

  • You can get quick and easy loans
  • There is no need for collateral
  • There is no need for paperwork
  • Zero service fee charge.
Cons Of Xcredit  Loan
  • The app is only available to android users.
  • It is just a short term loan
  • You can get a maximum of N500,000 only
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Branch Loan

The branch loan app has been one of the most consistent money lending apps out there. They have been in operation over the years and they have been giving out loans without asking for BVN or any form of collateral.

Branch makes use of data it collects from you device such as SMS history, GPS location and contacts in other to determine your eligibility to get a loan from them.

How To Apply For Branch Loan


Pros Of Branch Loan App

  • High maximum loan
  • No collateral
  • No need of BVN
  • Loans are disbursed almost instantly
  • Choice of repayment scheme


Cons Of Branch Loan App

  • You can only get loan if you operate with some specific banks in Nigeria.
  • Downloading the mobile app is composary if you must get a loan

Quick Teller

Quick Teller is a financial application that allows you to do so much online such as booking of flight, paying utility bills, internet subscription, buy airtime and many more. Quickteller was developed and maintained by interswitch, one of the biggest payment platform in the world.

The demand for loan started becoming too high, so they introduced the loan feature. This feature allows you to get a quick loan without using any of your assets as collateral.

How To Apply For Quick Teller Loan

You must have a quickteller account which you have been using to perform other transactions such as fight booking, paying for utilities, buying airtime and data.

Pros Of Quick Teller Loan

  • You can access quickteller both on website and mobile application
  • Great customer support
  • Easy to use
  • No need of collateral or guarantor

Cons Of Quick Teller Loan

Your transaction history on quick teller is what they use in evaluating your loan offer.

Ren Money Loan

Ren money is one of the largest financial fintech companies operating on micro-financing licenses which was issued to them in Lagos, Nigeria.
The company is regulated by the central bank of Nigeria (CBN). This gives them the ability to operate in full capacity as a lending company while observing the rules and regulations of the CBN in regard to financial services.
With Ren money, you can get a quick loan without having to use your BVN or using any of your assets as collateral.

How To Apply For Ren Money Loan

In other to apply for Ren Money Loan, you need to have the following documents in your possession and you must meet the criterion listed below.

  • You must be above the age of 21 – 59 year’s old
  • You must possess a statement of your bank account
  • You must have a  government-issued ID card
  • You must have a  savings or current bank account with any commercial bank
  • You must have a utility bill

Pros Of Ren Money Loan

  • Ren Money allows you to get a loan of up to 6 million Naira.
  • There is no hidden charges, you get what you see or applied for.
  • No need of collateral or guarantor
  • Loan is dibursed within 24 hours no matter the amount
  • Great customer support

Cons Of Ren Money Loan

  • Loans are offered to residents of lagos state and places where they operate
  • You can get the maximum of 20,000 Naira for a personal loan


Above is the list of companies, website and apps that are offering loans without BVN. If you think we missed anyone and you’ll like to see it added, you can email us your request.
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