Today I made research on the 5 loan apps without BVN in Nigeria. This is to enable people who have no BVN to be able to obtain loans from digital platforms easily.
Obtaining loans without a BVN is another challenging task for those looking for information on how to apply for a loan without a BVN in Nigeria, but you can do so by searching for loans without a BVN.
Bvn is a necessary need from a fintech platform in Nigeria that provides Online Loans, making it more difficult for anyone without one to receive a loan.
This article contains some of Nigeria’s best Loan applications without Bvn, as well as for instructions on how to apply for Loans without Bvn or any other form of collateral.
Table of Contents
Is it Possible to Get a Loan without BVN Verification from Nigeria Loan Apps?
According to NIBSS’s directive “people who are asking for loans must present their Bank Verification Number to lenders so that their details can be confirmed by the Nigerian central database.”
The Bank Verification Number (BVN) is a biometric identification system used by Nigeria’s Central Bank to prevent or reduce illegal financial activity.
In compliance with the Central Bank of Nigeria Act of 1958, it is a modern security system developed to combat fraud in the financial industry.
The BVN, or bank verification number, is an 11-digit number that is unique to each individual yet is the same across all financial institutions for that individual.
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How to Get Loan without BVN from Loan Apps
Fintech online lenders are our preferred method of securing a loan in Nigeria without the need for Bvn. Before they can issue you a loan, some of these loan applications only require your passport and banking bank details. The top loan app platforms for getting a loan but without BVN are listed below.
Top Loan apps without BVN in Nigeria
1. Branch Loan
Branch is the world’s most popular mobile banking and personal finance lending app, which provides rapid loans without Bvn, collateral, or physical documentation.
Branch Loan Criteria are simple: all you need is your phone number or Facebook account, as well as information about your bank account.
Branch Loan will also request access to the data on your phone in order to determine your credit score.
Branch makes loan decisions based on information from your phones, such as your handset details and SMS messages. This is coupled with your payment history at the Branch.
2. Renmoney Loan
Renmoney is a Fintech lending company with a microfinance banking license situated in Lagos, Nigeria.
They are regulated by the CBN and guaranteed by the NDIC and lend money to low-income people without Bvn or collateral through their website Renmoney.com.
One thing to note that they do not lend money to all states in Nigeria. From my research its around popular states because of certain logistics. You can confirm from them through their website.
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3. Zedvance Loan
Zedvance is a CBN-authorized leading financial corporation established in Nigeria. They offer quick loans to salaried persons, self-employed persons, SMEs, and Nigerian businessmen who want to propel their business to the forefront of the market in the most effective and convenient way possible.
4. Xcredit Loan
Xcredit is a mobile application platform developed by a finance firm based in Lagos.
This platform is only an online loan lending app/platform. They have their office in Lagos, Nigeria. No need to visit their office in order to use their services. You can make use of their service from anywhere with your mobile phone.
The Nigeria loan application is a simple, no-hassle loan that does not require Bvn or other forms of security. To apply for an Xcredit loan, you’ll need the following documents:
- Your Address and Phone Number
- Address for Electronic Mail
- Your Entire Name
- The account number of your bank
- Only people who clock 18 years and above should apply.
- Account statement from the last three months etc is required.
5. Lcredit Loan
In Nigeria, LCredit is a yet another Fintech platform which provides a 24-hour loan through their loan application.
In order for Lcredit to provide you with financial mobility whenever and whenever you need it, you must be a Nigerian.
What are some of the basic criteria for obtaining a loan from LCredit without a BVN Number?
- You must be a Nigerian citizen who currently resides and works in the country.
- As an applicant, you are expected to be between 18 and 55 years range.
- You need to own a personal bank account.
The above list of lending apps and platforms that provide quick loans without a BVN is accurate and reliable. It will ensure that you have timely access to funds without any BVN difficulties. Also, look into the finest low-interest loan apps in Nigeria.
Nevertheless, be aware that, just as there are legitimate lending applications in Nigeria, there are also bogus loan apps. Always make an educated decision and conduct additional research.