Carbon, formerly paylater, became operational in 2012. It has evolved since then, moving from paper-based application process to online process.
Although the intention was only to provide loans to salary earners, it was later expanded when BVN was introduced, a move which actually gave almost everyone access to loan with no collateral. Hence, it moved from the name, “One Credit” to “OneFi Brand” in 2015.
The introduction of BVN actually makes it possible for the company to give out loans to deserving people, with the mission to empower as many people as they can through giving out loan at a fair interest rate.
In 2016, the company felt there is still a need to touch more people and what better way to do that than to explore all the benefits that come with the modern world. Introducing, “Paylater loan app.
The app was officially out on may 18, 2016. A first of its kind. In just few months, it became one of the most downloaded loan apps on google play store. A feat almost difficult for most loan apps to beat.
Just when we thought it can not get any better than that, then the company decides they need to add other services to the service the app offers. To everyone, paylater does not speak much about the other services, change has to be thorough! Introducing Carbon, formerly Paylater.
With carbon, it is not just loan but other services are now available such as investments, personal finance, and payments.
Why people choose Carbon (Paylater app)
- Reliability, fast and available 24/7.
- No documentation required to get a loan.
- Zero collateral needed to get a loan on carbon (paylater app).
- There will be no need to bring a guarantor.
- Perform other functions as available on banking app. Such functions are airtime purchase, bill payments, money transfer, and many more.
- No questions asked about what the money is used for.
- Loan is available for everyone including students, salary workers and self-employed.
- There is a clear term indicating all you need to know before using the services. No hidden charges anywhere.
- Making good your promise to pay the loan in time, opens you up for larger loans with low-interest rates. You might get free cash for having a good credit score as well.
- Earnings through an affiliate program.
How does Carbon (paylater) work?
Carbon is a service authorized by One Finance & Investments LTD, a finance company with official stamp of the Central Bank Of Nigeria(CBN).
To get started with Carbon (paylater), follow the following steps:
- Download carbon (paylater) app apk. It is a loan app which is currently available on google play store although there is an ongoing plan to create an ios version of it.
- After installation, register your details on the app. You will be required to provide your BVN, selfie or passport and other information.
- If you do not remember your BVN, dial *565*0# from the number you used to register your BVN to get it.
- Do state how much loan you want to access in the app. Also, view the total amount you will pay back on the app.
- Maximum loan offer will be low the first time you used the app, it will automatically improve as you pay up in time. A good credit score will ensure you have access to a bigger loan.
- After the whole process, your loan request will be reviewed by Carbon (paylater) team. Loan is expected to be disbursed immediately if you are qualified.
- To have a better chance, make sure you have a healthy revenue and use the mobile no you supplied with your bank.
Do not take Carbon (paylater) loan if you intend to use the loan for long, it is only meet to short term needs. Short term loan is taken to meet up with urgent needs like medical expenses, improve business, home decoration, school fees and many more.
The minimum loan you can get on carbon is N1,500 and the highest is N1m with the repayment period of 4 weeks (1 month) to 64 weeks (1 year, 4 months). Interest on carbon (paylater) ranges from 2% to 30%, with an equivalent monthly interest rate of 1% to 21%.
Carbon (Paylater) contact details
- Facebook: www.facebook.com/getcarbon
- Twitter: www.twitter.com/get_carbon
- Instagram: www.instagram.com/getcarbon
- Customer care number: 01-460 9945, 01-631 1215
- Email: customer@getcarbon.co
- Website: www.getcarbon.co
Wrapping up
Carbon is the new trend in the evolving world. A company that is fully dedicated to making the country work again through helping businesses to survive or whatever you want a cover for.
Concerns about giving out your BVN? You have nothing to worry about, it uses high encryption technology to protect all details you might have shared during the course of registration.
It connects with data on your phone to provide you with the best loan offer that suits you. If you have a healthy incoming balance, you might find yourself accessing better loan offer. The data the system pry on are financial SMS, contacts, and notifications.
Carbon (Paylater) also makes it better since the recent updates. With the new update, you can now earn cash referring people to the program, have your statements sent to your inbox, add cards and other payment option. With carbon (paylater), it just keeps getting better.
Finally, don’t ask me to choose which is better between branch loan app, aella credit, and carbon. They all have their unique ways of doing things but if you need bigger pie, carbon (paylater) loan app it is for me. Most importantly, carbon (paylater) loan app is legit.
