Loan & USSD Code

How to Get Loan Without ATM Card, ID Card, and BVN

How to Get Loan Without ATM Card, ID Card, and BVN: If you want a loan that doesn’t require an ATM card, you might want to look at the list of loan apps in Nigeria that give quick loans without an ATM card or collateral. Before taking a loan from them, please make sure to read their terms and conditions.

What is a Loan?

A loan is when someone gives money to someone else with the promise that they will pay it back. When someone borrows money, they take on a debt and generally have to pay interest for using the money. Any Loan company or app can offer different kinds of loans with different levels of verification.

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Why Does the Loan App Want an ATM Card?

Your debit card is used to automatically take money out of your account when the loan is due. Most people forget to pay back the loan or don’t pay it back when it’s due. You have to give these loan apps your debit or credit card information so they can get back their cash plus interest. But based on the purpose of the loan, not all loan apps will need your ATM card to give you a loan.

So, let’s look at the different kinds of loans and what you need to get one.

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Types Of Loans

How to Get Loan Without ATM Card, ID Card, and BVN

Below are different types of loans you can go for:

  • Auto Loan
  • Loan for business
  • Mortgage Loan
  • Personal loan
  • Student loan

In short, we’ll talk about the different kinds of loans and then give you a long list of places in Nigeria where you can get loans without security and trusted loan apps.

Auto Loan

Auto Loan is a type of loan that lets you buy a car or car parts. Not all loan apps or banks offer this type of loan. Auto loans are available from companies like Autocheck and others, which we’ll talk about in the next installment of our Loan Update series here on Dosuggest.

Business Loan

The goal of starting a business is to make money, and a business that makes a lot of money can pay the interest on any loans. So, in Nigeria, there are a lot of banks and loan apps that will give you a business loan even if you don’t have an ATM card. All you have to do is show them your business registration certificate and other paperwork. If you are a handyman in Nigeria and want to get a loan, you might want to sign up with CAC.

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Mortgage Loan

A mortgage is also called a house, home property, or landed property. There are many advantages to a mortgage loan because landed property gains value over time and lets you pay off the loan later if you use it well. But even if you can get this loan without an ATM card, you will still need to show other paperwork and security in order to get the money.

Student Loan

Student loans have the lowest interest rates and are limited to a certain amount, but students can use them for different things. For example, some can use them to start a side business, while others can use them to study abroad.

Personal loan

If you’re not a student and don’t need any of the above types of loans, you might have medical bills or other urgent expenses you need to pay. There are loan apps that let you get personal loans without your ATM card information and show you how to pay them back. Personal loans let you borrow money right away to solve a personal problem. This type of loan can be as small as 1,000 naira or as large as 500,000 naira.

Now that we know what kinds of loans we can get, let’s look at which loan apps can get us these loans right away.

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List of Loan Apps in Nigeria That Don’t Need ATM Cards

There are many loan apps that can give you a set amount of money without an ATM card, ID card, BVN, or picture of your face. But this depends on how much and how high you need to go. The bigger the loan, the more proof you have to show.

Here is a list of ways to apply for a loan without an ATM card or BVN:

  • Branch Loan App
  • Umba Loan App
  • Okash Loan App
  • RenMoney loan app
  • FairMoney loan app
  • EaseMoni Loan Application
  • Aella Loan Credit App
  • Palmpay (Flexi Cash) loan app

We might add to this list as we find helpful new loan apps. If you know of any, let us know. do leave a message.

Aella Credit Loan App

If you want to borrow from Aella for the first time, you have to download the Aella app from the Apple App Store or the Google Play Store. Install the software and make a new account by filling out all the necessary forms.

With over 1 million downloads on Google Play Store, Aella Credit Loan App is one of the best digital loan apps in Nigeria.

Aella is a fintech business that was made to make it easier for people in emerging markets to get instant credit and pay for things. At Aella, they have made loans, investments, bill payment, micro-insurance plans, and money exchanges that help their customers become financially independent. All of these are available at the snap of a finger.

Branch Loan App

The store lets people borrow between 2,000 and 500,000. Loan terms run from 9 – 52 weeks. Depending on the loan option, interest rates run from 17% to 40%, which works out to a monthly interest rate of 1.5% to 15% and an APR of 18% to 260%.

There is no need for collateral. Interest rates depend on a number of things, like how well you’ve paid back your loans in the past and how much it costs the Branch to give money. Your cell carrier may charge you for SMS and data in the usual way.

Download app here

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FairMoney Loan App

FairMoney Loan App is considered the best Loan App in Nigeria because it has fair interest rates and an easy way to pay back loans. This is the popular app for getting a loan right away. For safety and policy reasons, iPhone users still can’t get it yet.

The Fairmoney loan app has been downloaded more than 10 million times on Google Playstore alone, making it the most popular loan app in Nigeria.

With yearly interest rates that range from 12% to 36%
The money will be sent directly to your bank account in less than 5 minutes, without any forms or collateral. With the Fairmoney app, you can get a loan even if you don’t have an ATM card.

Palmpay Loan App

When you talk about PalmPay in Nigeria, people will laugh because of what the media has said about it, which is not true.

Here is a short description of how PalmPay Loan (Flexi Cash) works;

PalmPay is a smart financial app that lets you start an account, transfer money, and pay bills all in one place. Because PalmPay is safe and reliable, you can count on it. And the Central Bank of Nigeria has fully licensed and controlled it as a Mobile Money Operator. It is also insured by the NDIC, and millions of users trust it.

PalmPay works with more than 500 partners to let you pay in any situation. To finish registering, all you need is your phone number. You can also get benefits from the PalmPay APP, such as great deals for new users, the chance to send money for free, cashback or a discount on every transaction, and more. If you tell other people about PalmPay, you can get extra great prizes like N2,500 in real cash.

After FairMoney, Palmpay is the second best-rated FinTech app in Nigeria on Google Playstore, with over 10M downloads.

RenMoney Loans App

You can get a quick loan through RenMoney in just a few steps. People who work for someone else or own their own business can get loans. So, if you need a personal or business loan right away, you can borrow between 6,000 and 6,000,000,000 and pay it back in 3 to 24 months.

With the Renmoney app, you can get quick loans, save money, and make trades with competitive interest rates.

  • Your next loan will have lower rates and be for a longer time.
  • No paperwork, and you don’t need security or a guarantor.
  • There are no secret fees, and you can always see the loan terms before you sign.

To get started with a Renmoney loan, just get the RenMoney loan app from the App Store and install it.

Okash Loan App

Okash is a good loan app if you need money quickly to pay off bills, start a business, or take care of something else important but don’t want to pay high interest rates or put up collateral like you do with a traditional bank loan. Okash is one of the best online loan apps in Nigeria, so it’s a good idea to get a loan through them. Just ask for a loan, and if you get it, you can borrow up to N500,000.

This app is licensed by Opay or Okash by Opay. On most devices, you can find it inside the Opay app, but on Android devices, it can be used on its own. If you want to know how to borrow money from Opay, you can ask for a loan through Okash and get the money in your Okash wallet.

Umba Loan App

When you need financial services, Umba is the best place to do your business. That you can open an account with no money in it, make as many free transfers as you want, get smart and affordable loans, and get up to 3% cash back on every bill payment and airtime buy. When we say we got you, we meant it. Make the switch to Umba now!

Get the Umba Loan App in 2 Easy Steps
1. Get the app and sign up for an account
2. Deposit money into your account and start doing business to earn benefits.
Download All devices can now get this app from the app shop you trust on your device.

EaseMoni Loans App

Easemoni is an app in Nigeria that lets people get cash loans right away. The Central Bank of Nigeria has given it a microfinance banking license. In the last six months, millions of people have borrowed money from them again and again.

The EaseMoni Loan App lets you borrow money online with no security, at any time and from anywhere.

In conclusion, we’ve shown you the different kinds of loans, what you need to get them, and which ones don’t need your ATM card, ID card, or BVN. As we’ve said, before you can get a loan for the first time, you might be asked for some details and given more time to fully verify your account.

If you have never missed a payment on a loan, you can get a quick loan in minutes without putting up collateral or giving your BVN number.

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