Do you have pressing financial needs that you need to meet? Do you need a quick loan without BVN or collateral? This may sound too good to be true but you can access instant loans without providing your BVN. Basically, some financial platforms in Nigeria give you access to loans without the stress of providing BVN or collateral. Here, you will learn all you should know about these platforms.
What is BVN?
The Bank Verification Number (BVN) is a unique 11-digit identity number for each person across the Banking industry in Nigeria. The Central Bank of Nigeria implemented this biometric identification system to prevent and decrease illegal banking transactions in Nigeria. Basically, it serves as a modern security measure that protects banking transactions by reducing fraud.
Your BVN number should always remain private and protected at all costs. This is because some illegal loan apps may want to use it for fraudulent purposes. So in most cases, you need to be mindful of releasing your BVN on just any platform.
Top Instant Loan Without BVN In Nigeria
Here is a list of some of the top platforms where you can get loans without BVN in Nigeria:
1. FairMoney Loan App
FairMoney loan platform offers you instant cash for any of your financial needs without you providing your BVN, documentation, collateral, or guarantor. Basically, through this app, you can borrow within the range of N1,000 to N150,000 with a repayment period of 2 – 12 weeks. The amount of loan you can borrow depends on your creditworthiness.
2. JumiaOne Loan App
JumiaOne is another legit loan app you can borrow from without inputting your BVN. Basically, to access loans on this app, just scroll down to the ‘Financial Services’ category and click on ‘Loans’. After you provide all the information required, you will receive your loan within minutes.
3. Carbon (Paylater) Loan App
Carbon, formerly known as Paylater is another app you can trust. It is owned by the One Finance & Investment Limited company and offers more than just instant loans. Aside from the fact that you can readily get loans from N5000 to N1,000,000 with a tenor of between 7 – 180 days, the platform does not delay in paying your loan. Within 3 minutes of submitting your application to the platform, they will credit your account.
4. OKash Loan App
Okash loan app is another legit and popular platform to borrow your loans. Basically, you can access this platform through the Opay mobile app, which is controlled by Opay Digital Services Limited/Paycom. However, OKash is solely owned and operated by Blue Ridge Microfinance Bank Ltd.
5. Aella Credit Loan App
Aella Credit is another legit platform where you can borrow loans without BVN. Basically, this user-centered digital lending platform offers users loans as low as N2,000, with a maximum limit of up to N1,000,000. Also, their own processing period does not take too much time. Within 10 minutes after applying for your loan, you will be credited.
There are several platforms where you can obtain a list without BVN in Nigeria. All you need to do is to make sure that the app is legit. You can make your choice from the list above to ensure that you are secure. Also, do not forget that your BVN should remain private and you have to be mindful of the platform you reveal it to.
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