How To Get A Loan Without BVN In Nigeria

Do you need a loan but you don’t have a Bank verification number? Then this guide on How To Get A Loan Without BVN In Nigeria is for you.

Getting a loan in Nigeria can be a difficult task, especially for those who do not have a Bank Verification Number (BVN).

A BVN is a unique identification number that links all bank accounts belonging to an individual in Nigeria. 

However, there are some circumstances where people may need to get a loan without a BVN. In this post, we will discuss How To Get A Loan Without BVN In Nigeria, the requirements needed, and the various banks that offer such loans.

What is BVN?

A BVN is a biometric identification system that was introduced by the Central Bank of Nigeria in 2014 to enhance the security of banking transactions and reduce fraud. 

The BVN is a unique identification number that is assigned to an individual and is linked to all their bank accounts. 

The BVN is used to verify the identity of customers when carrying out transactions in banking halls, ATMs, and other banking channels.

Requirements Needed To Get A Loan Without BVN In Nigeria

Before we delve into How To Get A Loan Without BVN In Nigeria, here is what you need to put in place. 

To get a loan without BVN in Nigeria, there are a few requirements that you need to meet. These requirements include:

• A valid means of identification such as a National ID card, driver’s license, or international passport.
• A verifiable source of income, such as a payslip, bank statement, or business account.
• A guarantor who has a BVN and is willing to stand as collateral.
• A valid phone number and email address.

List of Banks that Offer Loans Without BVN In Nigeria

Before we show the process of How To Get A Loan Without BVN In Nigeria, here is a list of Nigerian banks that offer loans without BVN. 

1. Providus Bank: 

Providus Bank offers a loan product called “PalmAdvance.” 

It is a quick and easy loan that can be accessed without a BVN. 

However, You must provide a valid means of identification, a verifiable source of income, and a guarantor who has a BVN.

2. Ferratum Money Nigeria: 

Ferratum Money Nigeria offers a loan product called “Nano Credit.” 

It is a short-term loan that can be accessed without a BVN. You must provide a valid means of identification, a verifiable source of income, and a guarantor who has a BVN.

3. Kiakia: 

Kiakia offers a loan product called “KiakiaLoan.” 

It is a quick and easy loan that can be accessed without a BVN. 

You must provide a valid means of identification, a verifiable source of income, and a guarantor who has a BVN.

4. C24: 

C24 offers a loan product called “C24 Quick Loan.” 

It is a short-term loan that can be accessed without a BVN. 

You must provide a valid means of identification, a verifiable source of income, and a guarantor who has a BVN.

5. KwikCash: 

KwikCash offers a loan product called “KwikMoney.” 

It is a quick and easy loan that can be accessed without a BVN. 

You must provide a valid means of identification, a verifiable source of income, and a guarantor who has a BVN.

6. Page Financials: 

Page Financials is one of the leading financial institutions in Nigeria that provides quick loans without BVN. 

The loan product is called “Page MyCash.” Page MyCash offers loans of up to ₦500,000, and the repayment period ranges from 3 to 12 months. 

To qualify for this loan, you need to provide a valid means of identification, a verifiable source of income, and a guarantor who has a BVN.

7. Zedvance: 

Zedvance is another financial institution in Nigeria that offers loans without BVN. 

Zedvance loans range from ₦50,000 to ₦5 million, and the repayment period is up to 18 months. 

To qualify for this loan, you need to provide a valid means of identification, a verifiable source of income, and a guarantor who has a BVN.

8. QuickCheck: 

QuickCheck is a digital lending platform that provides instant loans without BVN. 

QuickCheck loans range from ₦1,500 to ₦500,000, and the repayment period ranges from 30 to 180 days. 

To qualify for this loan, you need to provide a valid means of identification, a verifiable source of income, and a guarantor who has a BVN.

9. Aella Credit: 

Aella Credit is a financial technology company that provides loans to individuals and small businesses without BVN. 

Aella Credit loans range from ₦1,500 to ₦700,000, and the repayment period ranges from 1 to 4 months. 

To qualify for this loan, you need to provide a valid means of identification, a verifiable source of income, and a guarantor who has a BVN.

10. SnapCredit: 

SnapCredit is a financial institution that offers loans without BVN to individuals and small businesses. 

SnapCredit loans range from ₦10,000 to ₦2.5 million, and the repayment period ranges from 1 to 12 months. 

To qualify for this loan, you need to provide a valid means of identification, a verifiable source of income, and a guarantor who has a BVN.

How To Get A Loan Without BVN In Nigeria: Step by Step Guide

Here is a step by step procedure on How To Get A Loan Without BVN In Nigeria

• Research the various loan products available in Nigeria that do not require a BVN.
• Choose the loan product that best suits your needs and read through the terms and conditions.
• Gather all the necessary documents and requirements, such as a valid means of identification, a verifiable source of income, and a guarantor who has a BVN.
• Apply for the loan through the bank’s website or mobile app.
• Wait for the loan approval, which may take a few hours or a few days.
• Once the loan is approved, the funds will be disbursed into your account.
• Repay the loan on time to avoid penalties and damage to your credit score.

Key Takeaway

How To Get A Loan Without BVN In Nigeria may seem like a daunting task, but it is possible. 

With the right documentation and requirements, you can access quick and easy loans from various banks in Nigeria. 

However, it is important to remember that taking out a loan comes with responsibilities, and you should always repay the loan on time to avoid penalties and damage to your credit score.

We hope you find this guide on How To Get A Loan Without BVN In Nigeria helpful. 

Commonly Asked Questions about How To Get A Loan Without BVN In Nigeria

Can I get a loan without BVN in Nigeria?

Yes, there are several financial institutions in Nigeria that offer loans without requiring a Bank Verification Number (BVN). Some of these institutions include Providus Bank, Ferratum Money Nigeria, Kiakia, C24, KwikCash, Page Financials, Zedvance, QuickCheck, Aella Credit, and SnapCredit.

What are the requirements to get a loan without BVN in Nigeria?

To get a loan without BVN in Nigeria, you need to provide a valid means of identification, a verifiable source of income, and a guarantor who has a BVN. 

You also need to meet the specific requirements of the financial institution offering the loan.

What is the maximum amount of loan I can get without BVN in Nigeria?

The maximum amount of loan you can get without BVN in Nigeria varies depending on the financial institution offering the loan. 

Some institutions offer loans up to ₦500,000, while others offer loans as high as ₦5 million or more.

How long does it take to get a loan without BVN in Nigeria?

The time it takes to get a loan without BVN in Nigeria varies depending on the bank offering the loan. 

Some banks offer instant loan approvals, while others may take a few hours or a few days to approve the loan.

What happens if I don’t repay my loan without BVN in Nigeria on time?

If you don’t repay your loan without BVN in Nigeria on time, you may be subject to penalties and damage to your credit score. It is essential to repay the loan on time to avoid these consequences and to maintain a good credit score.