Have you heard of Carbon Paylater loan before now and didn’t know what it is all about? or you are just hearing about it now and want to know how it works? If your answer is ‘Yes’, continue reading this post as we will feed you with the important information you need to know about Carbon Paylater loan and how you can benefit from it.
Paylater loan is of the services offered by One Finance & Investment Limited. The company began its operations in the year 2012 with the initial name One Credit, and they had been in the business of giving loans to salary earners. The process was however paper-based, as loan applicants needed to provide backing documents in order to access loans. Check out How to Get a Loan from Carbon (Paylater). Best Guide
Three years later, Carbon Paylater grew significantly in size and expanded its frontiers to accommodate non-salary earners seeking loan facilities.
Apply For: CBN Non-Interest Loan 2023
The company also evolved and its name changed to into One-Fi. This progression came with the introduction of Bank Verification Number (BVN) in its operations, and an involvement with the Credit Bureau of Nigeria.
A year later, the Company evolved further into what is now known as Paylater, and this came with tremendous advancement in innovation. Operations became fully digital, and customers were able to access loan facilities instantly with their smartphones anytime, and from any part of the world.
In 2016, Carbon Paylater launched its mobile application which serves as the platform where customers can access services provided by the company at the comfort of their homes. They were one of the first to come up with the idea of instant loans, and in a year, they got over a million app. downloads.
To facilitate a fast and fully digital loan application process, Carbon Paylater launched a dedicated loan mobile application where borrowers can download, register, apply for and receive loans within minutes.
New to the Carbon Loan App? Read below to see how it works
- Go to Google Play Store if you are an Android user or Apple Store if you are an iOS user and search for ”Carbon”
- Download the application
- Create an account if you are a new user
- Sign in if you are an existing user
Upon launching the application, you will find four sections which we are going to discuss now.
- The loan section: Here, you can make the actual loan application, and it is quite easy.
Payment section: The payment section takes care of services like airtime purchase, bill payments, cable subscriptions, fund transfers and other services of that nature.
Financial services: Investment services such as creating fixed deposit accounts and getting free credit reports can be accessed here.
Transaction section: This is where you can have a glance of all the transactions performed on the app.
How to apply for Carbon loan
Download the application from Google or Apple Store
Register and supply the information needed
Upload a clear photograph of yourself
Click on “Request a loan”
Wait for some minutes for the loan application and approval to be processed
After a successful loan approval, you can proceed to accept the offer and provide your card details for payment. The loan tenure is between 30 days (one month) to 12 months (one year)
NOTE: You can also access Carbon loans by simply dialing their USSD codes on MTN and 9mobile networks. the code is *1303#
How to Pay later
Paying back Carbon loans is very easy, as they have multiple channels through which customers can do that. One can choose to pay via his/her debit card, bank transfer or over the counter.
The most important thing is the confirmation of payment by the company, and once this is done, the debt profile will be updated accordingly.
If you are contemplating whether or not to use Carbon Paylater loan, the following reasons might cause you to;
- The entire process is fully digital, easy, and can be done from anywhere
- No much requirements
- No hidden charges
- Loans are available to all category of persons
- There are incentives for actions like
Apply For: CBN Non-Interest Loan 2023