Top 10 Instant Loan Apps Without BVN in Nigeria

In a world where financial needs can arise unexpectedly, having access to instant loans becomes crucial. For those cautious about sharing their Bank Verification Number (BVN), we’ve compiled a list of the top 10 instant loan apps in Nigeria that don’t require BVN.

Understanding Loans and BVN

What is a Loan? A loan is a financial agreement where a lender provides funds to a borrower, who agrees to repay the loan with interest over a specified period. Loans facilitate various financial needs, from personal expenses to business investments.

The Significance of BVN The Bank Verification Number (BVN) is a unique 11-digit identifier in the Nigerian banking industry, ensuring secure transactions at any Point of Banking Operations.

Risks of Sharing BVN with Fraudulent Apps

While BVN enhances security, some fraudulent loan apps compromise user data for illicit purposes. Caution is advised when dealing with such platforms to avoid potential harm to personal information.

The Top 10 Instant Loan Apps Without BVN

  1. PalmCredit Loan App
  2. Carbon Loan App
  3. Alat by Wema Bank Loan App
  4. FairMoney Loan App
  5. JumiaOne Loan App
  6. OKash by Opay Loan App
  7. Aella Credit Loan App
  8. Eyowo Loan App

Individual App Reviews

FairMoney Loan App: Fast and Collateral-Free

FairMoney offers speedy loans within 5 minutes without the need for documentation or collateral. Loan amounts vary based on smartphone data and repayment history, ranging from ₦1,500 to ₦500,000. Monthly interest rates range from 10% to 30%.

Aella Credit: Your One-Stop Financial Hub

Aella Credit provides short-term personal loans ranging from ₦2,000 to ₦1,000,000, with repayment periods from 1 to 3 months. Interest rates range from 6% to 20%, and users working with Aella Credit partner companies can access higher amounts and better rates.

PalmCredit: Swift Loans for First-Timers

PalmCredit offers fast loans for first-time applicants, with higher amounts granted for timely repayments. Monthly interest rates range from 4% to 4.7%, and loan limits vary from ₦2,000 to ₦100,000, with a repayment period of 91 to 180 days.

JumiaOne: More Than an E-commerce Platform

JumiaOne, besides being an e-commerce platform, offers loans without BVN. Users can access loans from ₦5,000 to ₦100,000 for a tenor of 15 to 30 days, with the option for extended periods based on usage.

OKash by Opay: Instant Loans on the Go

Accessible through the Opay mobile app, OKash provides instant loans from ₦1,500 to ₦50,000. Repayment terms range from 7 to 90 days, with interest rates from 10% to 24%. Frequent users may enjoy lower interest rates.

Eyowo: Simplifying Financial Transactions

Eyowo offers seamless financial services without the need for collateral or documentation. Users can borrow, spend, send, receive, and save money with just a phone number. Payments are quick, easy, and secure.


In conclusion, the availability of instant loans without BVN offers a convenient solution for individuals in need. However, users must exercise caution and choose reputable platforms to avoid potential risks associated with fraudulent lending apps. Embracing these reliable instant loan apps can unlock financial freedom without compromising security.


  1. Are these instant loan apps safe to use without BVN?
    • Yes, these apps are secure and designed to provide loans without compromising user data.
  2. What is the repayment period for FairMoney loans?
    • FairMoney offers repayment periods ranging from 61 days to 180 days, providing flexibility for borrowers.
  3. Can users access higher loan amounts with Aella Credit?
    • Yes, users working with Aella Credit partner companies can access higher loan amounts and better interest rates.
  4. How quickly can I get a loan from JumiaOne?
    • Loans from JumiaOne are credited within 10 minutes or less, depending on your internet network.
  5. What makes Eyowo a secure option for financial transactions?
    • Eyowo ensures security by using a phone number as an account number and storing credit card information securely within the app.

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