Carbon
Your financial sidekick
4(250K+ reviews)
Founded 2012Lagos, NigeriaUsers
3M+
Rating
4/5
Founded
2012
KYC
Required
About Carbon
Carbon (formerly Paylater) is one of Nigeria's oldest fintech companies, pioneering instant digital lending in 2012. Now a full digital bank offering loans, savings up to 22% interest, investments, and bill payments to over 3 million users.
Features
Instant loans (5 min approval)
Savings up to 22% p.a.
Investment portfolios
Bill payments
Carbon card
Pay with Carbon (BNPL)
Business loans
Credit score tracking
Fee Structure
| transfers | Free (limited monthly) |
| maintenance | Free |
| other | Loan fees: 5-30% depending on amount and tenure |
| Savings Rate | Up to 22% per annum |
| Loan Rate | 5-30% per month |
Pros & Cons
Pros
- Highest savings rates in market (22%)
- Instant loan approval
- Full suite of financial products
- Long track record (since 2012)
- Investment options available
Cons
- High loan interest rates
- Aggressive debt collection practices reported
- Loan limits start small
- Customer service complaints
Links
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