How to Access Loan Without BVN: Updated (2023)

Do you need a loan to sort out some unforseen circumstances and you don’t have a Bank Verification Number, that almost all lending institutions and application will demand from you in Nigeria? That should not be a problem as there are still many loan app that can still grant the loan regardless of the BVN. Simplycashout , in this article, will address how you can get loan without bvn in Nigeria.

Meaning of BVN And Its Importance?

Bank verification number is a brainchild of the Central Bank of Nigeria. It was introduced in 2015 during the regime of President Goodluck Jonathan, to checkmate the fraudulent activities of some bank users. The unique number is used to verify the owner of an account and link an individual’s different bank accounts together.

The program is a continuous process and has been a major prerequisite for carrying out any financial transactions in Nigeria. Thus, the BVN, which is a 11-digit is required by most lending institutions in Nigeria. There are many reasons why BVN is needed for online transactions. Among some of the reasons include the following;

  • First of all, BVN is needed to ensure that the user doesn’t have any record of default loan.
  • To check whether the person is capable of repaying the loan he intends to borrow.
  • To serve as collateral in case the person default.
  • To easily trace loan defaulters.

Best loan without BVN in Nigeria.

Loan without BVN has been made possible by some lending institutions in Nigeria. Though, some of these lending loan apps have been banned in the country for violating some laws, especially infringement on customers’ dignity and privacy.

The following institutions have been making it easier to get loan without bvn in Nigeria:

Aella Credit Loan:

This loan has been providing soft loan for Nigeria and the Philippines. If was established by Akin Jones and Akanbi Wale. There are some criteria to meet up with before loan can be granted to the applicants. It has been regarded as the easiest source of loan without bvn in Nigeria.

Loan Without BVN


MoneyPal was established in 2016 by Adedayo Amzat. The loan has been seen as the peasant’s saviour as it was reported in 2019, that it will be providing loans for non-salary earners without much requirements from them.

Loan Without BVN


UnikCredit is based in Italy and it has been one of the best loans that Nigerians depend on when it comes to getting a loan without BVN.

Loan Without BVN


This is another loan institution that has been granting loan to people without BVN. It was created in 2019. The success of this loan app has made it to launch its mobile app, to ensure effectiveness and efficiency. But unfortunately, the app has not been made for the iOS users. It has a simple procedures that users need to follow before granting loan.

Loan Without BVN



This European-based institution was launched in 2017 by Mathieu Gendreau, Laurin Hairy and Nicholas Berthozat. With a reasonable APR ( Annual Percentage Rate) and instant granting of loans to the applicants, the institution has been seen as the best loan app.

Loan Without BVN


A creation of Newedge Finance Limited, PalmCredit among other functions it performs, has been rendering loan without BVN for its users. The institutions also gives opportunity to members that pay on time to have access to much higher loan.

Loan Without BVN



It was launched in Kenya in 2012 but later started its beta testing in 2018 as one of the subsidiaries of Opay. Apart from the fact that the app can give its users a loan without BVN, up to #500,000 to its users, it as well doesn’t charge anything for any bank transactions on the platform.

Loan without BVN


Daniel Jung and Matthew Flanneny teamed up in 2015 to give soft loan to Nigerians, Kenyans, Tanzanians and Indians. The app which has been expanding its tentacle ever it has been launched haa been the best to turn to whenever they want loan without bvn.

Loan Without BVN


Sokoloan is among the loan apps on Nigeria. The app was created in 2018 to provide loan to its users. Though, the app is among the loan sharks that the Nigerian government warned Nigerians against, it is still one of the best loan apps that people turn to whenever there is a need loan without BVN.

Loan Without BVN



Carbon (PayLater):

This app was founded by both Chijioke and Ngozi Dozie in 2012. The app was formerly known as PayLater. It is seen as of the best app to be reckoned with when it comes to loan application in Nigeria.

Loan Without BVN

JumiaOne Loan App:

It was a subsidiary of Jumia Store, established in 2012 by some investors which include Tunde Kehinde, Kofi Afaedor, Jeremy Hodara. The app has been making granting of loans easier for not only Nigerians but also citizens of other African countries like Ghana, Egypt among others.

Loan Without BVN


The app was created in 2017. And it has been providing loan at reasonable interest for its users. The app was launched by Louis Rodriguez. It is one of the best apps in Nigeria that renders loan without BVN.

Loan Without BVN

Can loan app block my bvn?

Bank Verification Number is issued by the Central Bank of Nigeria, and the institution is the only one that has the right to block the number. However, loan app managers have different ways of dealing with their defaulters. However, they can only apply these measures as last resorts after different methods they used did not work.

Loan App may decide to report to the CRC Credit Bureau Limited, a body set up to provide information on finacial record of consumers. A loan app may submit the name of their defaulters, his BVN or both to this body, hereby blacklisting them from getting access to loan. To clear this tarnished images in the future can take a very strenuous steps.

Another method that the loan app always use to deal with the defaulters is to reach out to their guarantors. Some do use text messages while other implore calls. And it is very possible to make use of the two methods. However, the government of Nigeria has really frowned at this method and has blacklisted some loan apps for this.

Conclusively, though loan app may have limited power in blocking the bvn, they may as well make sure they report the case the the issuance bank. I guess, it doesn’t worth it.

Can I get a loan without BVN?

Loan Without BVN

To be honest, BVN is one of the requirements of the loan app before granting loan application but it is not necessary. However, there may be some instances where applicants may not get loan without BVN. This is because there are are many loan apps that will always make BVN a compulsory prerequisite for getting loan.

It is incumbent on the loan applicants to always check and understand the requirements of the loan app before applying for the loan. This will give him much access of the loan. Legally, there are also some specific conditions to be met before loan can be granted to an applicant. Some of these conditions include:

  • Applicant must be of legal age. In Nigeria, an 18 years person is seen as been of age and can apply for a loan.
  • The person must have a functional bank account. This is always the medium by which the money will be paid into.
  • A person must have a clean record of debt history with the CRC Credit Bureau Limited to increase his chance of being granted the loan.
  • It may be necessary that the applicant is a Nigerian or lives in Nigeria before he can be considered for the loan.


Getting loan without BVN in Nigeria is surely possible. Re article has let the readers know what the BVN is and what are its uses. In the same vein, simplycashout has also highlighted some necessary steps to take before we can get loan without BVN. There are also explanatory notes on different loan apps that we have in Nigeria. In case there is questions, comments and suggestions, the readers can make use of the comment box.


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