Carbon formerly called paylater is a financial technology service that offers loans to people, allow people to make payments and pay bills online and offers investment options as well.

OneFi is the parent company of Carbon, and the CEO is Chijioke Dozie who is also an owner. 

KL Rating: ⭐️⭐️⭐️⭐️

4.0 Koboline rating

Carbon gets 4 stars out of 5 for overall performance. This pioneer digital loan company is slowly turning into a digital bank. You can transfer money, pay bills, buy airtime, access loans and invest your money as well.

Ratings at Koboline are determined by taking into account; pricing, user experience, ease of filing a claim, website transparency, and complaint data from social media.

Carbon Loans

Carbon offers personal, business and payroll loans. The company also offers a free credit report for every new loan applicant.

Interest rates on the loans are competitive and vary depending on your credit standing. Repayment of loans is made in monthly instalments.

To get a loan from, download the  Carbon app from the Google Play Store or Apple App Store.

Register by filling in all the required details. Apply for your loan and receive it in minutes without collateral or guarantors.

When you’ve paid back your loan in full, You can apply for another loan immediately at a higher amount and at a lower rate.

Paying back a Carbon loan works automatically. On the due date of the loan repayment, the platform automatically debits your account by the amount you owe.

Investing with Carbon (Paylater)

To invest with Carbon, you have to activate Payvest and deposit funds. Then you create an investment plan and confirm the terms.

Payvest is a fixed-interest investment account that doesn’t require any fees or charges to set up. Single investments can range from N100 to N1 million.

The interest rate for investments in carbon is 16% per annum. You can also choose the investment duration, which ranges from 3 months to 12 months.

You can also withdraw your money at any time from the app.

Carbon USSD Code

Carbon also provides a USSD service for its users. The USSD code is *1303#.

Is Carbon right for you?

Carbon or Paylater, whichever you prefer is a streamlined digital financial service that is fit for getting a loan or making an investment in Nigeria.

It has one of the best return on investments among financial companies in the country.

However, Carbon isn’t the only company offering good loan and investment options. You can find other loan companies that suit you in our guide for loans in Nigeria. You can also find great investment options other than Carbon in our investment companies guide.