Carbon Loan Review : interest rate, website, How to Apply for a Carbon Paylater app

Carbon Loan Review : interest rate, website, How to Apply for a Carbon Paylater app

Feeling too tired to leave your home or you’re having a busy day and you require some pocket money for some little expenses, then Carbon is the right place to get an instant loan.

Carbon Loan is a program of One Finance and Investment Ltd. which was initially known as One credit in 2012.

The company started by providing loans to salary earners, using an approach similar to the bank. This approach required an operation that compelled users to provide substantiating documents.

In 2015, After high growth and sustainably in operation and output of its business, one credit became OneFi.

With the initiative of a unique Bank Verification Number (BVN) and with the intercession of the Credit Bureau of Nigeria, the company was able to change terms and the loan became applicable to non-salary earners by leveraging on its field agents.Carbon loans

In 2016, the business evolved and became a complete digital platform, and its name then replaced to Paylater.

As an outcome of this advancement, they were prepared to catch the minds of millions of Nigerians through data and smartphones.

They studied the leverage technology and realized that by combining it with the data, they could assist more customers with credit, and facilitate their application cycle. This led to the full obliteration of the paper-based application method.

The Launch of Carbon Paylater mobile App

The Carbon Paylater mobile App project was undertaken in May 2016 to impact this modification.

It was the first available service of its kind- a complete digital lending system – made fully available all day long. You get instant cash within minutes after application.

After two years, the Paylater app recorded over 1 million downloads. To meet the immediate demand at that time and also withstand the problematic behaviour of the customers’ need, the Carbon app was launched.

It improved from just granting loans into bill payments, investments, and financial management.

Carbon is founded to manage a person’s everyday needs and how they develop into their life. It also stands for their ideal to be a one-stop reference for getting a loan in Nigeria.

The Carbon Paylater App

  • Ratings – 4.4-star rating
  • App has 71k reviews
  • Downloads – Over 1m downloads since 2016
  • Year of Release – 2016

The Carbon app is the best mobile financial lending transaction. You can get quick loans to fulfill pressing financial responsibilities, transfer money to another account, investments with high-interest rates, recharge airtime, and pay bills anytime.

All these are a few of what can be done on the App using your mobile phone.

How To Use The Carbon Loan App

  1. Search for the app “Carbon” on Play Store or App Store to download
  2. Download the App
  3. sign in your account in minutes
  4. Get quick access

There are four tabs with different characteristics you may find helpful.

  • 1 Loan tab: This is the initial part where you can apply for a loan.
  • 2 Payment tab: In this part, you can perform many payment actions. These include purchasing airtime, transferring money to someone, subscribing to the internet, and paying electricity bills.
  • 3 Financial Tools tabs: This section provides investment alternatives such as opening a fixed deposit account. You also receive a free credit statement here.
  • 4 Transactions tabs: This tab allows you to get a summary of all transactions you performed on the App.

How To Get a Carbon Loan

  • Follow the steps as cited above up till step 4
  • sign in to submit all the required details such as name, phone number, email, etc
  • you need a display photo before you can be eligible for loans. The snapshot can be done directly from the App
  • Click on the “Request a Loan” button
  • Wait for your loan approval. This loan commonly gets an approval within a few minutes.
  • After loan approval, you will have to click the accept button and submit your card information. Usually, the loan tenure ranges from 30 days to 12 months.

Carbon Loan USSD Code

The Carbon Paylater USSD code can be exploited only on MTN and 9mobile networks. This is done by dialing *1303#.

How to Pay Back a Carbon Paylater Loan

Loan repayment on the Carbon Paylater app is simple, and there are several aisles in which you can repay your loan.

You can make use of a direct debit channel. This channel allows the App (by your authorization) to subtract the loan percentage via directly from your account on the date affirmed by you.

The details of your bank account will be filled out during registration as well as the select date of rebate.

Another means of repayment of the loan can be done directly into their account either by transfer or at the bank. As soon as there’s the authorization of payment, your carbon account will be revised to paid automatically.

Why Would You Want To Use a Carbon Loan?

Carbon provides simple financial transactions which can easily be accessed.

  • Their assistance is accessible 24/7 and you can launch and finish a transaction anywhere by using your mobile
  • All that’s required of you is just an android phone, data connection, and a valid means of identification
  • Funds are accessible for everyone notwithstanding of who you are
  • Transparent services. No undercover fees
  • There are many bonuses for any encouraging efforts such as a referral, fast repayments, etc.

Are carbon loans legit?

Yes, carbon loans are legit as many people have been able to acquire a loan from them; you can also contact them at their head office located at Plot 1224, Bishop Oluwole Street, Victoria Island, Lagos.

How do I delete my carbon loan account?

you can delete your account by requesting a deletion mail from Carbon customer support.

Use the below steps to get it:

  • Step 1. Login to your email address and draft” or “Create a new mail.
  • Step 2. The title of the draft should be Request to Delete Carbon Account”
  • Step 3. Draft your mail. After drafting your mail send it to

How much loan can I get from paylater?

You can access up to ₦1 million loan. However, this amounts limited to those who are known to pay back loans on time.

How do I invest in carbon paylater?

You have to first activate your Payvest and deposit funds. Then you can formulate an investment plan and agree with the terms.

No fees are needed to open a Payvest- a fixed-interest investment account. You can invest from N100 to N1 million.

The interest rate is 16% annually. You can also select the investment duration from 3 months to 12 months. Withdrawals can be done anytime using the app.

How does the carbon loan app works

The Carbon app has over 1 million downloads since its release in 2016, with an over 4.-star rating – is an easy spot for mobile financial transactions.

You can acquire a quick loan, perform a money transfer to another account, invest in high-interest rates, buy airtime/data and pay bills anytime on the App using your mobile phone.

Download: Carbon Paylater Loan app

Who’s the owner of paylater

Carbon paylater is founded by Chijioke Dozie and director Ngozi Dozie.

How do I contact paylater

You can contain paylater by dialing any of these numbers 01-460 9945 or 01-631 1215. Or send them a mail using You can also make use of the chat button in the app.

How do I fund my carbon wallet

You can do this through fund transfer from your bank’s mobile app to your Carbon wallet by choosing One Finance as the name of the bank and using your wallet ID as your account number.

Or through a debit card after you log in to your Carbon app, click on fund wallet, select fund with debit/ATM card, fill the amount and fund your wallet.

Does paylater charge interest?

Paylater loan interest rates range from 4-10%, the rates rely on your patriotism level.

loan amount N10 000 at a rate of 10%, with a repayment duration of 15 – 30 days. loan amount N50 000 at a rate of 5%, with a repayment duration of 1 – 3 months.


Carbon loan is a legal and valid loan service provider that permits instant loans in Nigeria. Applying for a loan using the app is easier. You get it paid into your account within a few minutes.

Ikechukwu Youwin

this articles was written by ikechukwu for, Ikechukwu is a University graduate, he holds a degree in Economics from the University of Nigerian Nsuka (UNN).Read more

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