Carbon – online loan Nigeria
Online loans up to ₦1,000,000 with interest from 1% monthly and approval within 24 hours.
Applying does not commit you to a loan agreement.
Screenshot of https://getcarbon.co
Carbon – Instant Digital Loans and Banking Nigeria
Carbon (formerly known as Paylater) is one of Nigeria's most established digital lending and banking apps, operated by One Finance and Investments Limited (OneFi). Launched in 2016, Carbon was among the first fully digital lenders in Nigeria and has since expanded its product range to include personal loans, business loans, payment services, savings accounts, and investments. The platform has served hundreds of thousands of Nigerian borrowers and manages billions of naira in loans. Carbon is backed by international investors and has consistently innovated in the Nigerian fintech space.
Carbon offers personal loans from ₦1,500 to ₦1,000,000 with repayment periods of 2 to 12 months. Monthly interest rates start from 1% for eligible customers with a proven repayment track record, making it one of the most competitive digital lenders in Nigeria. Applications are made via the Carbon mobile app — register with BVN, verify your identity, and apply in minutes. Loan limits start conservatively and increase with each successful repayment cycle. Funds are typically disbursed within minutes.
Carbon is regulated by the CBN through its licensed microfinance bank status. The company is transparent about its pricing and reports to Nigerian credit bureaus. Carbon has won awards for responsible lending and product innovation in the Nigerian fintech sector. For Nigerians looking for a comprehensive personal finance app — loans, savings, investments, and payments — Carbon offers one of the most complete digital financial services packages available in the country.
✓ Pros
- One of Nigeria's oldest and most trusted digital lenders
- Interest from 1% per month for repeat borrowers
- Loans, savings, investments and payments in one app
- No paperwork needed
- Limits grow significantly with good history
✗ Cons
- New users start with very low limits
- Maximum tenure only 12 months
- App performance can be inconsistent at peak times
Loan example
Representative example: A personal loan of ₦100,000 over 6 months at 2% monthly interest. Monthly repayment approximately ₦17,853. Total amount repayable: ₦107,118. Total interest: ₦7,118.
Loan requirements
- ✓ Valid BVN
- ✓ Active Nigerian bank account
- ✓ Valid ID
- ✓ Carbon mobile app (Android or iOS)
- ✓ Nigerian phone number
- ✓ Minimum age 18 years
Loan features
- Personal loans from ₦1,500 to ₦1,000,000
- Terms 2 to 12 months
- Interest from 1% per month
- Savings and investment products
- Carbon debit card
- CBN licensed
Frequently asked questions
24 hours after submitting your application.
The minimum amount at Carbon is ₦1,500.