Carbon Loan App Review 2023 – All You Should Know


Hi, today, I will be doing an extensive review of the carbon loan app. I’ve been a customer for up to 3 years now and will like to share all I’ve learned since I started using the carbon loan app. Let’s start with the basics.

About Carbon Loan App

Carbon loan app started as PayLater Loan app. It was one of the first loan apps in Nigeria, founded by Chijioke Dozie, a graduate of Harvard, and Ngozi Dozie, an MBA degree holder, in May 2006. It’s now owned by Carbon Finance And Investment LTD.

It is important to point out that the Carbon app (previously Paylater Loan app) is not only the best loan app in Nigeria. It’s also an international loan app available in Uganda, Kenya, the USA, and Brazil.


How Does Carbon Loan Work

The Carbon loan app works just like any other loan app in Nigeria. It can be broken down into 5 steps.

  1. Download App: First you have to download the app or access the services through the Carbon loan USSD code or Carbon loan website.
  2. Register on the app: you’ll be required to fill in several details from your BVN, bank account work details, and others.
  3. Get loan amount: Then Carbon app will generate a maximum loan amount you can borrow.
  4. Access Funds: Once your application is approved, the money will be deposited into your carbon wallet where you can transfer it to your bank account.
  5. Repay Loan: Ensure to select a suitable loan period during the application, and repay once it’s time.


Carbon Loan App Download

You can download the Carbon loan app on Google Play Store or the Apple store. The carbon loan services are also available on USSD and their website.

– Download Carbon App On Andriod

If you are an Android user just go to the Google Play Store and search for the Carbon loan app; some people still search Paylater loan app. You can also download directly using this link.

To ensure you are downloading the right app you should see a purple diamond-like logo designed in a way that in the middle there is a white parallelogram. The app has the tag “Carbon: savings, loans, bills” under the finance category having Carbon Finance And Investment LTD as their developer.

As of the time of writing this article the Carbon loan app has a 4-star rating from a total of about 104,000 reviews on the Google Play Store.


– Download Carbon Loan App On Apple Play Store

If you are an iPhone user, you can download the app from the Apple app store by searching for the Carbon loan app. You can also search Paylater loan app. Here’s a direct link to download Carbon app on Apple Store.

To ensure that it is the legitimate app you are downloading you should see an app named “Carbon fast loans and banking”. The app is rated 4+ on the app store with an average rating of 4.3 from about 1,000 users.


– Download Carbon Loan App Apk

If you’re having trouble downloading the Carbon app from the Google play store, then consider downloading the APK here.

– Carbon Loan Ussd Code

To access the Carbon loan services via USSD, dial the Carbon loan USSD code *1303# on your Mobile phone.

– Carbon Loan Website

The carbon loan services can also be accessed from the carbon loan website, but only after you’ve registered on the app. Visit the website to sign in to your dashboard.


Features of The Carbon Loan App

  1. 24/7 Loans: you can get a loan on Carbon any time of the day, especially if you’re a returning customer.
  2. Wallet: the Carbon app can be used to save money like a bank account.
  3. Free transfers: There are no transfer fees on your first 30 transfers.
  4. Interest on Savings: They offer a 2% monthly interest on your savings.
  5. Bank account: Upon registering, you’ll be assigned a bank account that you can use to receive funds from other banks at zero charges.
  6. Deposit: You can deposit money into your account using your Atm card or USSD code.
  7. Alerts: They give instant alerts via SMS and on the app for all transactions.
  8. Cards: carbon offers ATM cards for interested customers.
  9. Investments: the carbon app also has various investments for interested customers.
  10. Carbon Zero: A pay later feature was recently added to the Carbon app. So you can buy stuff on credit and pay at a later date.
  11. Credit Report: Carbon provides you with a free credit report to provide insights into your credit score.


How To Get A Loan From The Carbon Loan App

Getting a loan from the Carbon loan app is not as difficult as it seems. Just follow these steps.

  1. Download app from as shown above.
  2. Register on the app using your phone number.
  3. Fill in your loan application. Enter verifiable details about your job and personal life following the prompt.
  4. Upon completing the loan application process, the app will generate the maximum loan amount based on your details.
  5. Choose to withdraw that exact amount or lower, and then select a repayment period to complete the application.
  6. You’ll get a message within a few minutes notifying you that your loan has been approved and is deposited in your carbon wallet.
  7. Open the carbon app to access the loan. Transfer to your bank account and use it to meet your need.


Carbon Loan Interest Rate

The carbon loan interest rate is from 5 to 15%. You’ll get lower rates as you continue to repay your loans.

How Much Can You Borrow On Carbon?

Carbon offers within ₦5,000 to ₦1,000,000. The amount you can borrow on carbon is determined by the app based on the information you provide, and whether you’re a new or existing customer. When I started my loan amounts increased gradually over time, and I was offered over ₦100,000 at some point due to my consistency in repaying the loan.

Carbon Loan Customer Care

Carbon loan app has a responsive customer care service that can be reached via phone, email at and social media platforms on Facebook, Twitter and Instagram. Typically they respond to your mail within 3 working days.


Is Carbon Loan Legit? My Experience So Far And Verdict.

Yes, Carbon is very legit. As I mentioned, the app started as Paylater loan app to provide Nigerians with instant funds, but it has grown into so much more. The Carbon loan app is now a Microfinance bank with several features.

From my experience, I’ve taken over 10 loans from them and never had an issue with them.

There was a time I was late on my repayment by a few days. I emailed the carbon customer care, and they said I should pay with whatever I had and clear up immediately after I had the money. They called and said the same thing, which was different from what most experience with other loan companies. I’ve also never had any issues with my repayment or illegal deductions.

Overall they’ve been great, and you should check them out if you need a personal loan.


What do you think of the Carbon loan app? Rate the app below.

4.7/5 - (28 votes)

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