Loan App To Borrow Money Without BVN 

Borrowing online is the new approach towards getting \”urgent 2k\” in Nigeria today. When you need a little cash, loan apps could be an option to respond to emergency needs. 

If you have ever borrowed from any loan app, you would have recently noticed that you have received calls from different loan companies. Some companies prefer sending messages to potential customers to get their attention. 

Well, people really want to get loans from most of these apps, but fear sets in when the requirements are outlined. When you see tons of information requested from you, you might reconsider calling a friend to loan some money instead of collecting from such an app. 

Bank Verification Number ( BVN) is one of the distressing requirements loan companies require for people to sign up. Before discussing about Loan Apps that don\’t demand your BVN before giving you a loan, let\’s discuss what they need the BVN for. 

Why is BVN Necessary for Registration?

The Bank Verification Number is always part of the requirement for essential reasons. 

  1. To Check Your Credit Score.

Upon registration, your BVN is used to run a check on your account to determine your loan credit score. The credit score helps to determine the amount you can collect and your financial capabilities. It will be off target if you are given an amount of loan or money you don\’t make in a month. 

  1. Attachment with other loan companies. 
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The BVN helps to know if you are indebted to other loan companies. That doesn\’t mean you won\’t get a loan if you apply; they will know an amount that would be comfortable for you to pay. 

Are There Loan Apps That Don\’t Require BVN?

After years of initiating loan apps, one of the major criteria they have improved on is including BVN as part of the major information they need. 

Finding a loan app that doesn\’t require BVN before granting a loan is impossible. After checking through the web on apps that don\’t demand BVN numbers as criteria, it\’s funny to see a couple of popular loan app part of the list. 

Fair money and Carbon top the list of the app in this category. It\’s a lie, people who made such writing are not accustomed to the formalities of these companies. 

During the introduction of online money lenders, some decided to exclude the use of BVN during registration because of customers\’ reactions. But with how things have unveiled and how many borrowers have refused to refund the borrowed has changed a lot. The only possible way to track them is through their BVN. 

Why You Should Not Be Scared About Using BVN 

Often, whenever we see any registration that includes inserting our BVN; we shy away. The fear is that our money could be taken from the account without our knowledge. Is that true? 

The central bank of Nigeria knows that it\’s almost impossible to shield the BVN from the whole world, and it definitely would be used in several instances. So, the 11-digit number is not supposed to be able to work magic without your consent. 

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Although, it\’s a poor and careless attitude to drop it on public platforms and let everyone know it. However, your bank would send a notification to you if any transaction is to be made in your account. 

If your money is taken from your account without your knowledge, it\’s definitely through the back door. It\’s not because you submitted your BVN to a company. 

Loan apps are bond by law to keep all your information with them, and any attempt to compromise that directive would lead to serious consequences according to the law. 


Don\’t be tricked that there are loan apps that are ready to grant loans without including your BVN as part of their registration. However, if newly start-up loan companies use that as bait to get customers, it could be possible.

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