How to Successfully Get a ₦500k Quickteller Loan in Nigeria Using Only Your BVN (2025 Step-by-Step Guide)

Before we discuss the step-by-step process of obtaining a Quickteller loan in minutes, let’s first understand the background of why people may need the loan in the first place.

Nigerians on a daily basis have need for money, due to the recent spark in the inflation rate in the country. Nairametrics reported that the inflation rate in Nigeria is still one the world’s highest despite a significant drop in recent reports.

Salary earners, retirees, students, politicians and business owners are all turning to reliable money lending platforms to borrow urgent cash so as to have ends met.

Quickteller loan is taken by such people and most of them have given positive reviews on Google play store which is why I decided to write a step-by-step guide to help those who are finding it difficult to apply and get the loan.

Introduction

Quickteller has been in existence for a while now, though many people do not notice of it and even those who do, still do not know that they offer loan services.

The platform is owned by interswitch, a Pan-African digital payment company which was founded as far back as 2002 in Nigeria.

Quickteller offer instant loans to students, self-employed, civil servants, business owners and pensioners who are in need of urgent money to settle bills and other needs.

What is quickteller loan?

Quickteller loan can be defined as a digital lending service that is being integrated as a feature on the Quickteller app and website.

In order words, quickteller loan is part of the services offered by the quickteller on both their website and mobile app for people to easily access instant loans wherever they are in need of it.

Those who want to borrow money on quickteller do not need collateral, they only need to have their BVN ready, which is mandatory.

It only depends on your past financial history or behavior to be able to receive loan offers from quickteller.

Why many Nigerians trust quickteller loan

Based on the user reviews available on the Google play store and apple app store, the results shows that many Nigerians trust quickteller. But why? Because of the following;

• The platform is built and owned by interswitch which is very popular in Nigeria and Africa at large.
• Funds are disbursed directly to your bank account after approval.
• No collateral needed for you to access the loan facility.
• No one is required to visit any physical office as a criteria for the loan. It can be accessed anywhere.
• The entire process is digital, meaning no paper work is needed or involved.
• Approvals are done in just minutes.

Quickteller partners with reputable and CBN licensed loan platforms to offer instant loans which ranges from ₦1000 to ₦500k.

Although, the amount which one can be offered at a time depends on their credit score and past financial history or creditworthiness.

Feel free to also read our previous article 👉Step-by-Step Guide to Applying for a NELFUND Student Loan Successfully (2025 Complete Process)

Can you get ₦500k from quickteller with only BVN?

Of course yes, You may be eligible up to ₦500k depending on your credit profile. Although, only those who meets the criteria can access such high amount.

Not all those that applied on their first trial can be offered ₦500k immediately, because the loan offer is determined by several factors which includes;

• The transaction history available on your bank account.
• The credit history that is linked to your Bank Verification Number (BVN).
• Your past borrowing on the quickteller loan platform.
• The loan history you have with other loan apps.
• Your daily, weekly, monthly and annual income all plays a vital role in determining how much offer you can get.
• Lastly, your borrowing behavior.

Requirements to get a quickteller loan using only BVN

There are basic requirements that when one meets he or she can be able to get a quickteller loan even at his or her first trial. These requirements are;

1. A valid BVN: BVN means Bank Verification Number which is issued by the Central Bank of Nigeria (CBN). You must have a BVN to able to access the loan.
2. Active phone number: you must have a valid phone number that is linked to your BVN.
3. You must also have an active bank account.
4. You must have a smartphone and must download and install the quickteller app.
5. You must have a good transaction history on your bank account.
6. You must have a good credit score or good loan repayment history.

Step-by-step guide: how to apply for a ₦500k quickteller loan

I have taken my time to research and bring you a step-by-step process of applying for a ₦500k loan on the quickteller app, and below are the steps;

Step 1A. Download and install the quickteller app: if you are using an android smartphone, then go to Google play store, but if you’re using an iPhone then go to the app store and search for “quickteller app”, then download and install the app on your phone.

Step 1B. Visit the quickteller website: alternatively, if you don’t want to install the app on your phone, then instead, visit the quickteller website on quickteller.com to apply for the loan.

Step 2. Create an account: after downloading and installing the app, you can proceed to create an account by signing up.

But if you already have an account then you may simply login to proceed. To register, follow these steps;

• Click on the “Register” button.
• A new page will be opened, fill the registration form with your first and last name, email address, phone number and a unique password.
• If you were referred by someone else, then enter his email or phone number.
• Check the “terms and conditions” box.
• Click on “Register” to proceed to the next page.

Step 3 . Verify email: the next thing is that you will have to verify your email address.

One Time Password

A seven digit One Time Password (OTP) will be sent to the email address you provided above.

Check your email inbox and copy the seven digits code sent to you from quickteller, and paste it in the boxes provided, just as can be seen in the screenshot below.

If you do not see the message in the “primary inbox folder”, then check in the “promotion folder”, because my own was found in the “promotion” folder.

Activation link

Alternatively, you can verify your email address using the activation link sent in the same message.

The message that was sent to you contained both a seven digits code and an activation link, so you may either use the code to verify your email or simply click on the activation link to verify your email.

Step 4. Verify your BVN: BVN is very important now in dealing with any financial matter that concerns a person in Nigeria, as it shows all your financial dealings including your past loan history.

Verifying BVN is done automatically, all you need do is input your eleven digits BVN and quickteller will verify it.

If the verification is successful, quickteller will be able to confirm your identity, credit score, loan eligibility and also use it to prevent fraud.

Step 5. Navigate to “request loan”: to locate the loan section or feature, follow these steps;

• Click on the menu, the menu is located on the top-left corner of the quickteller dashboard.
• When you click on menu, a list of the menu items will show down. Then click on “services”.
• When you click on “services” then loans, transfer link, event tickets and transport will be listed below “services”.
• Then click on “loans”.

Step 6. Fill out the loan request form: a soft copy form will be displayed after clicking on the “loans” link. Fill the form as follows;

• Enter loan amount in the first field which should be ₦500k.

• Enter your bank account number in the second field.

• Select your bank from the drop-down list of Nigerian banks.

• The beneficiary’s name will be displayed automatically.
• Click “continue” after filling the form.

Step 7. Select loan option: after you have provided the above details, quickteller will calculate your loan amount and list loan offers for you to select your preferred amount.

Depending on your creditworthiness, the offers may range from ₦1000 to ₦500k. There is a notice that normally appears on the offer page, which says;

“Available offers may not match the amount you have requested”.

• Click on the arrow head that is pointing downward on the offer page.
• Select and accept your preferred loan offer.
• Enter your debit card details which can be credit or debit card.
• Check the “I have read and accepted the terms and conditions”.
• Click on “accept offer” button to proceed.
• Enter the OTP that is sent to your phone number linked to your bank account.
• Click on pay, ₦2 will be debited from the account that the debit card is linked to. This is just to confirm that the card is active and can be used to repay your loan.

Step 8. Loan disbursement: after a very short-time review from the quickteller loan team, the accepted loan offer amount will be disbursed to the bank account you provided.

Quickteller loan interest rate and repayment terms

Quickteller partners other FinTech apps or platforms to deliver loans to users, so the interest rate also depends on those partners.

But typically, the interest rate falls between the range of 3% to 30% monthly, depending on the loan provider though.

The loan tenors are 15 days, 30 days, 60 days, 90 days and 180 days.

How to increase your quickteller loan limit up to ₦500k

Even if you are not offered ₦500k at your first trial, but that should not discourage you.

These are some strategies you may use to increase your loan limit up to ₦500k gradually. These are;

• Avoid defaulting loans on other platforms as this could be reported to credit bureaus, thereby affecting your credit records.
• Accept the small amount offered to you and repay it early.
• Use the quickteller app regularly to make other transactions and even pay bills.
• Borrow consistently on the app, but make sure you are also paying back early.
• Maintain a healthy bank account by using it regularly for any kind of financial transactions.

Common issues and how to fix them

You may also encounter some challenges as you are trying to borrow on the quickteller app. But there are also ways you may try to fix those problems.

Below are some of the problems one may encounter and ways to also fix them;

1. BVN not accepted: if you encounter this kind of problem, what you should do is to try checking  the BVN again to make sure it is inputted correctly.
2. Loan limit too low: if the loan amount offered to you is too low, don’t worry, use the app frequently and repay loans early to increase the limit.
3. Loan not disbursing: to fix this particular problem, check your bank account number and make sure the account is active and not dormant.
4. App not opening: if the quickteller app is not opening on your phone, here is what you should do; update the app, clear cache, use the website instead.
5. Loan services unavailable: the way to fix this issue is simply to try again later. Maybe the traffic on the app or server could be much at the moment you tried it.

Is quickteller loan safe and legit?

I will say yes, the quickteller loan is very legit due to the following reasons;

• I have borrowed from the platform myself.
• It is owned by interswitch, which is one of the most trusted digital payment companies in Nigeria and Africa as a whole.
• It has many positive reviews on Google play store.
• It partners with CBN licensed instant loan lenders.
• It is registered with relevant regulatory bodies in Nigeria.

So due to the above reasons, we may accept that quickteller loan is significantly reputable than many other random loan apps.

Conclusion

Considering the above, it is very possible for you to get a loan of up to ₦500k in Nigeria without any collateral and just using BVN only.

The only reason one may not be able to get such a loan is if your credit score is not encouraging and financial activities are bad.

Always read terms and conditions thoroughly before borrowing to avoid accepting what you may not be able to abide by.

Disclaimer: This article is meant for educational purpose only and does not in any act as financial advise. Always do your own personal research before taking action on financial matters.