Carbon loan app review (get a loan, Interest, requirements)
Table of Contents
Carbon loan app review (get a loan, Interest, requirements)
Read all about Carbon loan in this Carbon loan app review.
There are times in life when we urgently need money to solve a pressing issue, and maybe we can’t quite seem to get it from friends or family. The next best option is to get a loan.
Taking loans from commercial banks is a very stressful process, the paperwork and also the fact that you will need a collateral just puts off most people.
In the past few years, there has been an increase in the number of apps & platforms that offer small loans to students, entrepreneurs and business owners.
Carbon formerly known as Paylater is an instant loan app and a banking platform that allows you access to loans of up to 1 million naira without collateral, paperwork or guarantor.
Carbon loan also allows you to get cashback on interest paid once you repay on time, as well as increasing the amount of loan you can get.
In this Carbon loan app review, I am going to be writing about all you will need to know about Carbon loan app under the following sub-topics “How to get a loan on Carbon app”, “Carbon loan interest rate”, “Carbon loan customer care”, “Carbon loan requirements”, “Is Carbon loan legit?”, “Carbon loan USSD code”, “Carbon loan repayment” and more.
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Let’s get into it then…
Read my Branch app loan review
What is Carbon?
Carbon formerly known as Paylater is an instant loan app and a banking platform that allows you access to loans of up to 1 million naira without collateral, paperwork or guarantor.
Carbon loan also allows you to get cashback on interest paid once you repay on time, as well as increasing the amount of loan you can get.
Carbon first started as One credit which provided loans to salary earners using paper based application that required documentation before changing to OneFi in 2015, and then launched the Paylater mobile app in 2016, which was a fully digital lending experience. As carbon began to expand its services, the name Paylater seemed limiting, and thus it was changed to “Carbon”.
How to apply for a loan on Carbon
To get a loan on Carbon, you will have to follow the below instructions:
- Download and install the app from the Google playstore or the app store.
- Create and account and provide carbon with your personal details like your name, phone number, bank verification number, account details and more.
- Apply for your desired loan and wait for carbon to review your application
- If your loan application is approved, carbon will disburse the funds into your account almost immediately.
Carbon features
Carbon bank account
You can register for a carbon bank account and perform simple banking transactions on your mobile phone.
Cards
With the carbon visa card, you can make payments anywhere around the world.
Savings
Earn returns on your savings on carbon
Credit report
On Carbon, you can Keep track of your credit history
Loans
Get Instant loans on Carbon whenever you need it.
Carbon loan requirements
You can get instant loans on Carbon without need for collateral, documentation or any guarantor. All you have to do is provide personal information like your name, phone number, bank verification number, account details and a few more.
Carbon loan interest rate
The interest rate on Carbon is usually from 5% to 15% and the loan duration from 30 days to 12 months.
Carbon loan repayment
On your due date(s), your payment will conveniently be deducted from the account linked to the debit/ATM card provided during your loan application.
In-app using debit/ATM card: To make a payment to clear an active loan, click the ‘Make a Repayment’ button in the app. This can be found under the ‘Your Loans’ menu section. Enter the card details to be used for repayment and your account is immediately updated, once payment is successful.
In-app using Carbon account: You can fund your Carbon account to repay your loan. To fund your account, do initiate funds transfer using USSD code or from your bank’s mobile app to your Carbon account by selecting Carbon (or One Finance) as the name of the bank and your Carbon account ID as your account number. The minimum amount you can fund your wallet with is N100. Kindly sign in to the Carbon app, click on “Fund account” on the home page to view the account details for your Carbon account. Once your carbon account is funded, launch your app, in the menu section, select ‘your loans’, then click the ‘make a repayment’. Select your Carbon account as the means of repayment and your account is immediately updated, once payment is successful.
Quickteller: Visit www.quickteller.com/onecredit select Paylater, enter your details. Ensure you enter your client ID and other details accurately. Enter your card details and confirm the transaction. Your account will automatically be updated within minutes.
Direct Transfer: You can make a transfer/cash payment to the Carbon account number below: Account name: Carbon/Paylater Bank: Guaranty Trust Bank Account number: 0217599035. Include your client ID or full names and phone number registered on Carbon in the transaction reference and let us know via email (payment@getcarbon.co) when the transaction is completed so we can update your account.
Carbon loan customer care
Email: customer@getcarbon.co
Facebook: @getcarbon
Twitter: @get_carbon
Instagram: @getcarbon
Is Carbon loan legit?
Carbon is a legit loan app that gives loan of up to about 1 million naira for individuals. It is licensed to operate in the country.
Frequently asked questions (FAQs)
How does Carbon calculate the loan offer?
Loan offer is calculated based on the verified data from your information and current risk profile. The loan amount duration and interest rate at any time depends on your profile and the information you provided in the application.
Who is the CEO of Carbon loan?
The CEO of carbon is Chijioke Dozie.
Conclusion
Thank you for reading my Carbon loan app review. If you have any question or comment, you can leave it in the comment section below.
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