8 best loan without BVN in Nigeria & with low interest rates

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There are several collateral free, online loan apps in Nigeria that offer easy loan for everyone, either you’re a student, salary earner or self employed. In this post, I share with you 10 best loan apps in Nigeria with low interest in 2021.

Note that having a good credit report is excellent but some of these loan apps that I will show you here will still attend to your emergency financial needs by offering you what you need. But you must do well by ensuring you pay back on time to change the status of your credit report from bad to good.

This post covers:

  • Which app gives loan instantly?
  • Reliable loan apps that don’t require bvn
  • Instant loan apps for students
  • Quick and easy loan apps in Nigeria 2021

Loan Apps without BVN and Low Interest Rate

  1. Carbon loan
  2. FairMoney loan
  3. Branch loan
  4. Gtworld
  5. EaseMoni
  6. Social Lender
  7. Renmoney
  8. Aella Credit

1. Carbon Loan

Carbon is a lending platform that gives you access to one instant loans in Nigeria. It is a simple digital finance management platform that provides instant online loan to help you meet urgent and unexpected cash needs.

Carbon is not just about providing loan to Nigerians, it also provides its users with a platform for deposits, transfers and make bill payments.

Carbon is available in web and mobile apps, both android and iOS. They have been in the system for a long time, lending money to Nigerians.

Interest rates range from 5% to 15%, depending on how long you need to repay the loan and how much you want to borrow.

The platform accesses your BVN to determine the loan amount. With Carbon you can get as much as 20 million naira.


1 Download the app
Get the Carbon App on Google Play Store for Android or App Store for iOS.

2 Register within minutes
Open the app, and fill out the sign up form. This usually doesn’t take more than 3 minutes.

3 Start banking
You’re ready to go. Now you can request for loan or carry out all other available banking transactions within the app like bill payments and airtime purchase.

Other Features

Apart from getting loan from carbon there are other banking transactions you can carry out, some of which are as follows

  • Create bank account
  • Make Payments
  • Get ATM Cards
  • Make Investments
  • Get Credit report
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Signup with Carbon today

3. FairMoney

FairMoney is one of the best loan apps, providing long term loans to credible Nigerians.

Though Fairmoney requires bvn to get a loan, you can easily get up to 1 million naira without any hassle, and I think that worth submitting your BVN for.

FairMoney loan interest rates start at 5% and can go up to 28% depending on the amount you borrowed. It also offers a credit period of 4 – 26 weeks.

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If you repay your loan before the FairMoney due date, you will repay it at a lower interest rate

How much Fairmoney can loan you?

Fairmoney can offers you loans up to 1 million Naira. Their repayment period is convenient as you cab have up to 18 months repayment period depending on your loan amount.

Your lending history will determine how much your loan offer can be. If you have a credible lending history, you will get a big loan offer.

What makes Fairmoney better?

  • Instant delivery – Getting loan on Fair Money is so quick, as you can obtain your fast loan in just 5 minutes, even from the comfort of your home.
  • Flexibility – You have choice to make repayment on the due date or before.
  • No collateral or documents are required
  • No hidden charges – With Fair Money, all interest and charges are transparent. Nothing is hidden. You will always see how much offer you’ve got and how much youre to pay back and for how long.
  • Good customer service– Fairmoney has a well trained team and they treat their customers with respect.
  • Extend loan duration – when you’re unable to meet up with the repayment date, you have option to extend the loan duration. To do this, on Fair Money app, just go to “Manage loan”. There you will see if you have this offer available for you.

I’ve written a more detailed post on everything you need to know about how to get FairMoney loan. You can check it out to read more.

3. Branch

Branch is also a very good loan app. Getting quick loan from Branch is as easy as eating a piece of cake. You only need to download the branch app and make your loan request.

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With branch your privacy is secured and you won’t be defamed in case of repayment default. Their staff are well trained to speak kindly to customers and they will do just that.

However it’s important you repay your loan as an when due to keep your credit history clean.

4. GTWorld

Gtworld is the GTBank mobile bank app. Through it you can apply for loan and get it easily. Through the app you can request for quick credit and salary advance loan. You should be able to receive your loan in minutes if you’re qualified.

I’ve written an extensive article on List of all GTBank loans, their requirements and interest rates. You can check it out.

5. EaseMoni loan

EaseMoni is one of the online lenders. According to them, they offers Nigerians up to N1 million in personal and business loans. Their app is really easy to use, as the interface is well designed.

With Easemoni app, no paperwork or collateral is needed. The loan is processed within 5 minutes and disbursed directly into your bank account.

Only 4 things are required to obtain loan from Easemoni and they are:

  1. Age range of 20 to 55 years old
  2. your phone number
  3. Bank account number and
  4. Your Bank Verification Number BVN

3 easy steps

1 Get credit
Open EaseMoni APP, Apply for credit,
complete registration, identity, card
authentication, and quickly obtain
quota, up to 1,000,000.

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2 Initiate a loan
Select the loan amount and term,
click “Apply Now”, and then confirm
the loan bank account.

3 Money to bank account
The account will arrive within three
minutes at the earliest. Please check
your bank account.

Repayment Options

Auto Repayment

If you have authorized the EaseMoni APP to do so, the system will automatically deduct the payment on the repayment date. Please make sure that the bank

card balance is sufficient. If it is unsuccessful, please repay the money manually in time.

Manual repayment

You can optionally make repayment manually through the app. This method prevents the EaseMoni loan app from automatically make repayment on your behalf.

Bank Transfer

If the above 2 options isn’t what you want, you can make your repayment by sending it to the EaseMoni bank account.

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EaseMoni Contact

EaseMoni Customer care Phone numbers:
090876141 50
01 700 1276
01 888 5577

Ease Moni Whatsapp number:


My advice:

Easemoni is not the best, and their interest rates aren’t the best, just that they offer quick loan.

Note that they can be quick to offer you loan, however you should be sure you’ll be able to pay back on or before the due date. Otherwise, their late fee can add up tremendously (even up to 100 percent of the principal loan) within the space of a month.

You can read more about EaseMoni loan here

More Loan Apps

You can try any of these too if for any reason you’re unable to get loan from the above loan apps.

6. Social Lender

The Social Lender is a loan solution based on social reputation on mobile, online and social media. This bridges the gap in instant access to funds for those with limited access to official credit.

Using its own patented algorithm to perform social audits of users on social media, online and other related platforms, Social Lenders evaluates the social reputation of each user.

Social Lender partners with Starling Bank, Bincon, Techstars and Barclay Accelerator to provide loan to Nigerians based on their social media reputation.

Social Lender works in 3 steps

  1. Use your mobile, Facebook, Twitter or Linkedin account to contact social lenders and get your social media reputation score.
  2. Apply for loan based on your needs. It’s quick and easy.
  3. After approval, you will receive financial services or funds at your bank account usually within 10 minutes.

7. RenMoney

RenMoney offers SME loans up to 4 million naira to qualified Nigerians. To qualify for a Renmoney SME loan, your business must have a good income statement and regular monthly payments.

The minimum loan amount is 100,000 NG, the interest rate is 2.8% per month.

8. Aella Credit

Aella Credit is a Nigerian loan app that aims to provide employed Nigerians with easy access to loan with an interest rate of 4% to 29% per month.

As with other loan apps, BVN is one of the requirements to access Aella loans. The loan term is 1-2 months

Thanks for reading. If you have any comments pleaded drop it below and I’ll respond soon as possible.



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About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

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