29/05/2017

Dear Nigerians, This is Everything You Need to Know About Paylater Online Loan



Lots of people have been asking if this option is available online instead of passing through the normal micro-finance banks with neck breaking requirements. The good news is that it is available online and you can get in less than 24hours.


There are times that you are just pinned to the wall and you need a narrow escape out of it but your bank account is reading “red”, in such a situation, getting a loan might be your only option.

Paylater® is a simple, entirely online lending platform that provides short-term loans to help cover unexpected expenses or urgent cash needs.  No collateral, guarantors or application fees required. Just a few clicks of a button.

Paylater is a service provided by One Finance & Investments Limited (RC No: 1044655), a licensed Finance company.

Interest is charged at a daily rate of 1% which means that if you borrow ₦10,000 you’ll have to pay back ₦11,500, in 15 days, or ₦13,000 in 30 days.

How does this work? 
For first timers, the maximum range is N10,000 after which Paylater expects a total of N11,500 in 15 days or N13,000 in 30 days. There are really no hassles involved in this as they simply debit the said amount from your bank account on the due date. 

For the application process, Paylater has made it easy for applicants as they all have to go through their Facebook accounts (which already has details of each person) to login.

They currently offer two loan packages:
PAYLATER (loans available to all) & PAYLATER PLUS (loans for salary earners).

Requirements
>>Android Phone
>>Real Facebook Account
>>BVN

Why BVN?
The BVN provides all the verification details the company needs before they can give out loans. It “verify that the individual applying for a Paylater loan is the same as the owner of the provided bank account.”

How Do I Payback my Loan?
On the due date, Paylater.ng automatically debits your account by the amount you owe, if you are not comfortable with that, you can pay manually.

Once you log into your dashboard, you will see the current loan you have applied for and you will also see the PAY NOW button. Click on it and the page below would come up.

Enter your credit card details appropriately and click OK once you are done.

How Can I Apply For a Loan?
It’s simple! Just follow the steps below to apply for a Paylater loan:
2. Register your personal details
3. Choose your desired loan amount and duration
4. Submit your application. You will get a loan decision in seconds.
5. If approved, your account is credited within 30 minutes.

You can chat them up on twitter here

I know a lot of people who have benefited from this platform and I’m sure many will still benefit from it too.
Have you borrowed money using Paylater? Please share your experience in the comments section below.

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18 comments :

  1. Isn't this opposite of MMM?,and they say MMM can't pay 1% but a micro finance can take 1% daily as interest on loan.Okay o

    ReplyDelete
  2. Isn't this opposite of MMM?,and they say MMM can't pay 1% but a micro finance can take 1% daily as interest on loan.Okay o

    ReplyDelete
  3. ha oga yomi...even in freetown nothing is free this this is compound interest not simple interest if u did maths very well u go know sey micro finance loan and did one na identical twins

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  4. Have been trying to get loan from them but am finding it difficult to summit my loan form because of location. There trying to get my location but keep on failing maybe is the phone am using I don't no. Am using Techno Y4.

    ReplyDelete
    Replies
    1. Did you enabled location from ur settings? You need to allow it. Try it again and make sure your internet connection is stable.

      Delete
  5. Lol.. I ave died.. Every way Na way Money must be made.. see new ponzi scheme. i beg

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  6. Nigerians will still abuse it

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  7. To borrow 10k ?
    May God almighty save this country

    ReplyDelete
  8. Sori for digressin. Pls, i need solution on Bluetooth switching on automatically overnight on my new gionee phone . Though am suspecting it could be as a result of turning on d location . Cos, location at times can access Bluetooth . Just confused. Any help, prof yomi

    ReplyDelete
  9. Currently using their service.

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  10. I have been using it for long now, They are real and awesome

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  11. PaYlater is a life saver.nice app

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  12. Been using this since last year, helps out when u need urgent small cash. Why do Nigerian have the spirit of negativity when something new comes out. This is no ponzi scheme, if u have not tried out something and knkw it's drawbacks first hand don't condemn​ it pls . The service works try it if u need it.

    ReplyDelete
  13. The service works perfectly cos I have used it several times when I need urgent cash....as for the doubting Thomases pls don't be so quick to tag every financial platform as a ponzi scheme......theu give loans to make money do you expect them to collect back the exact money they loaned out? You know that ain't possible

    ReplyDelete
  14. Been using this since last year, helps out when u need urgent small cash. Why do Nigerian have the spirit of negativity when something new comes out. This is no ponzi scheme, if u have not tried out something and knkw it's drawbacks first hand don't condemn​ it pls . The service works try it if u need it.

    ReplyDelete
  15. Hope they will not be removing my money now that they have access to my Bvn

    ReplyDelete
  16. I`m confusing because of the BVN required

    ReplyDelete

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