Here we will show you how you can get a loan from Carbon (Paylater). We shall start by explaining what Carbon is all about. Just pay attention. You can check out: list of the federal government free interest loans.

What is Carbon?

Carbon is a digital financial platform in Nigeria, formerly known as Paylater. It is set up to provide quick loans to its users. Not just loans, but quick loans.

What really makes loans from Carbon different?

No collateral is required. No guarantor is required. The loan platform is available 24/7. On weekends, and even on holidays, you can get loans when you apply.

But only small amount of loan can be granted when you are applying for the first time. But as you continue to apply you can get access to larger loans.

What are the requirements for Carbon loan?

Carbon has an app that you have to Install and use.

Provide your personal information like name, phone number, and so on.
A photo of you snapped with your phone through the app.
Your Bank Verification Number (BVN)
Bank account details
Details of your debit card. This is what you will use to pay back the loan. You’ll be billed N50 or N100 to authenticate your card.
A government issued ID may also be required, but not always.

How to get a loan from Carbon (Paylater)

It’s quite simple if you have all the requirements. Just follow the steps below;

After downloading the Carbon App from Google Play Store or Apple app store, register by providing all the details required on the app.
Upload the photo you have snapped with your phone through the app. Without a photo your loan will not be granted.
Click on the “apply for loan” icon to request for a loan. Follow instructions and give all details required, then submit your application.
Wait a few minutes for a response.
Accept loan and provide repayment details. The repayment details are the basic details of your debit card (ATM card).
After this step, your wallet will be credited as soon as possible. It is a very fast process. You can then transfer to your bank account, or pay bills from there.

How much loan can one get, at what Interest rate, and what is the loan term?

You can get up to N1million loan, but never at your first try or even your second try. As you keep applying and paying back, the loan you get keeps increasing.

The interest rate usually depends on the amount loaned, and the period of repayment, which can be from 5% to 15%.

The loan term can range from 1 to 12 months.

What is the repayment procedure?

It is important that you know this so that you can pay back your loan when due in order to be able to get more loans. It is also as simple as getting the loan. The procedures are:;

Fund the bank account which the debit card you used initially is connected to.
Open the Carbon app on your phone
Login to your account
Click on “repay loan” icon, then follow the other instructions.

Where’s Carbon Office located?

Plot 1224, Bishop Oluwole Street, Victoria Island, Lagos. You can also reach them on their customer care line, or send them a mail.
Customer Care Line: 01- 460 9945 or 01- 631 1215.
Email address: customer@carbon.ng
You can also visit getcabon.co to read more about carbon and their services.

How to Get a Loan from Carbon (Paylater) – Best Guide