Carbon – formerly Paylater – is one of Nigeria’s earliest digital financial companies. The fintech platform is licensed by the central bank of Nigeria (CBN) to offer instant loan services – among other benefits like unlimited free money transfer, free bill pay, airtime top-ups, etc – to its users.

Why Take a Loan from Carbon?

  • Apply from the app 24/7, and get funded in minutes
  • Access up-to ₦1,000,000
  • No collateral. No guarantors. No paperwork
  • Get cashback on interest once you repay on time


  • A selfie of you with your smartphone in real-time.
  • Bank Verification Number (BVN)
  • Bank account details (To withdraw your loan)
  • A debit card (To pay back the loan). The debit card will be billed an initial N50 to authenticate the card.

How to Request a Loan From Carbon in Nigeria

  • First, you need to download the app. You can get the Carbon App on Google Play Store for Android or App Store for iOS.
  • Create an account. Log in if you already have an account
  • From your dashboard, tap Request for loan. Follow the instruction and input all the required details.
  • Submit your application afterward 

If your loan application is approved, you will need to accept the loan and provide repayment details. Once that’s done, your loan will be disbursed into your wallet.


In conclusion, you should note that the interest rate for loans on Carbon is between 5% to 15%, depending on the loan amount and repayment period. Furthermore, the loan repayment period rages from 30 days to 12 months.

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